I first signed up with Virtualbank in 1999. I simply loved them. And I continued to love them for 12 years. I even got a family member to sign up with them and she loved them too. In 2012 they were bought by Sabadell. In mid 2012, they relaunched their website. Here are the issues I experienced.

1) During the switchover all of my transaction history was entirely deleted. Online access to my transactions IS THE WHOLE REASON I HAVE A VIRTUAL BANK!

2) During the switchover, all of my automatic payments stopped being, well, automatic. Again, why do I have a virtual bank account if I have to remember to send checks? Through sheer luck, I caught this error in time to prevent serious tardiness with my automatic payments.

3) I began receiving a PAPER statement for my overdraft line of credit despite the fact that my preferences state that I should be receiving electronic statements for everything. Again, the whole point of a virtual bank is to avoid paper statements!

4) Said line of credit account is a complete phantom. I have no access to this account online. Seemingly, the only evidence that it exists is.....a paper statement. Did I mention that the whole point of a virtual bank is that I have online access to everything?

5) Even the electronic statements that I WAS receiving were not complete. They only reflected my checking account, not my money market account. I had to email them to request regeneration of correct statements. One more time, WHAT IS THE POINT OF A VIRTUAL BANK ACCOUNT IF I DON'T HAVE ONLINE ACCESS TO EVERYTHING?

I did incur one $5 late fee when my bill payments stopped being automatic. I contacted them about this (and mentioned the above issues as well). Their response: "Please send a copy of the statement showing the late charge." 12 loyal years, then 6 months of hell only to bust my balls over 5 bucks. The appropriate response here would have been "Sorry for the $5 fee and the inconvenience. Here's $500 for your time and patience"