Last week, the minimum amount to open a MM account was $250. This week, it's $1,000. Even though I got the invitation when the minimum was $250, They still insisted that I put $1,000 in if I wanted to open an account.
You'd think a bank (even if they just opened) would get their story straight if they wanted to get more customers, or at least accommodate those who were told one thing one week, then were told a total different story the week following.
No worries, AbleBank, there are many other banks around who know what they're doing and would love to help me manage my measly $800.
This account was barely even 3 months and the bank had reduced the interest rates twice in that time which made it pointless to have even opened this account in the first place. Also it is the only online bank out of any I have used that restricts transfers out to 25K a day. But they have no problem with other online banks allowing you to transfer money in without restrictions. Then the do-gooder charity that gets pushed up the yin yang. Customers have savings accounts to earn interest, one already pays full state and federal taxes on the petty amount being earned. Essentially, by the rate reductions, it was like taking 500 dollars a year away from my account in interest while giving me back 50 dollars a year to donate to charity through the bank. Sure, sounds like a deal, not. Then they closed the account without notice, claiming I added a 2nd linked account and that I checked my bank account online too often. In inquiring about this, the security watch dog said that these actions raised red flags. I think the only thing questionable and suspect was that the bank took this action only after I was trying to transfer money out to one of the linked bank accounts. I should have known from the get go that a bank with such a stupid name would be a farce. However, on the positive side, the employees working the basic customer service line were very polite and nice. it was obvious the bank does not hire those with that hideous Boston speech impediment to staff the phones. The online web site was a disaster, it would trip up and log you off at the drop of a hat. I have used enough bank websites and this was by far the clumsiest one ever. Glad to be out of that dog and pony show for good.