I deposited $50 to open an account to use at a later time and I checked back after some months later and almost all of it was gone! $4.50/mo. for inactivity fee! Could not believe it. All they had to do was hold my money. guess they couldn't resist taking it from me while I was not looking. Will never bank here again.
Perkstreet account holders, beware! Make sure that when you contact the bank to close your account, you also tell them to close your debit card and cancel overdraft protection.
Failure to do so in my case resulted in a debit card transaction being honored after I requested closure of my Perkstreet checking account because the overdraft protection was still in force and the debit card was still active - despite my checking account being "closed"!! I had called Perkstreet's customer service to close my checking account. During the course of this telephone conversation, Perkstreet's rep did not tell me I needed to close the debit card and cancel overdraft protection as well. I didn't know any better, and assumed that a closed account meant everything pertaining to the checking account was closed, including debit card and overdraft protection.
After I requested closure of my checking account, Perkstreet paid an online purchase transaction of -$75.00, then hit my account for a -$32.00 non-sufficient funds fee which put my checking account a total of -$107.00 in the hole. Somehow, my Perkstreet debit card had become the default payment method for my health insurance company's mail-order prescription service. It had not been the default previously, and I have no idea how the change occurred. Or maybe I did change it awhile back to earn more Perks and I just plain forgot. I'm not sure.
So now Perkstreet wants me to send them $107.00 to put the account balance back to zero. I'm not inclined to do so, seeing as how I lost $97.00 in Perks Rewards when they announced the bank's closure. However, I was told today by Perkstreet customer service that if I do not deposit the $107.00 then my account will remain open and future purchases would be honored. There's nothing quite like feeling your credit score is being held hostage by a dishonest bank. :/
I got spoiled on the reward points systems. I had been with USAA for years, but when they canceled their rewards, I began to shop around.
I found that PerkStreet (PS) was the only debit card that still offered rewards. I have a large family with a lot of monthly expenses, so I figured we'd give 'em a try.
Worst 6 months of banking in my life. Everything they have is online, but their website is horrible. It is about as advanced as AOL in '99. Their site has like 3 tabs, and most of the links don't work because PS is just a marketing arm for an actual bank. They piggyback off the bank, but have almost nothing to offer. You can't make deposits online, and transfers into and out of your account are a nightmare.
The perks suck too. When I first looked at PS, they were offering 2-3%. Now it's 1%, and even that is worthless. It takes weeks before the points are credited to your account, and they charge a fee to get your points in cash. You can get a gift card instead, but most of the gift cards are for $100 minimum ($10,000 in spending!).
I also had unauthorized charges to my account, a problem I have never had anywhere else. When I immediately called PS to stop the charges, they told me it was between me and the retailer (WM.com). They couldn't care less and they weren't the least bit interested in investigating or reporting the theft.
I got awful customer service every time I called. The people were unfriendly, unknowledgeable, and unhelpful. Which brings me to the final insult.
After the last unauthorized charge to my card, I decided to close my account. No hard feelings (yet). As soon as I closed my account, they revoked my user name and login. This is an exclusively online bank (they don't send paper statements), and I no longer had access to my statements. Fortunately, I print and balance my statement each month, but this meant that I never got my last 2 statements. Now they want my credit card so they can charge me $3 for each statement!
Overall, their support staff is friendly, however woefully incompetent when it comes to any of their "services". It took about 4 CS reps before one of them told me the correct way to fill out a form. They wanted me to write in the margins of the form what I wanted (a second debit card for my wife) rather than creating a form with actual lines and boxes with the information they wanted. Long story short, never got my wife on the account as a cosigner or a debit card. They are horrible about informing the customers when a change will happen and how the change will impact you and your hard earned money. Today, (August 12, 2013 as of writing), I had almost 100 points in rewards that I was waiting to use, when I received an email stating this: "Consistent with the terms of our Rewards Program Agreement, we have discontinued our perks program and cancelled all perks balances as of today, August 12, 2013. Redemption requested prior to August 12, 2013 will process in accordance with your request. We are incredibly sad to share this news with you. You helped us create a company that we believed would change banking for the better and we have worked tirelessly to accomplish that mission. Ultimately, however, we could not find the financial success required to continue building the business." This is one of the original accounts with debit card #5519, not #5507. I called them up and the "representative" put me on hold for several minutes while she looked up the information I told her. It was as if she were reading the notice, that I would think would be passed around in some kind of interoffice memo at a minimum, for the first time! She was literally reading something back to me and said " the program can no longer be sustained " If this happened to the original accounts, do we think that because the changed banks (which is what they did) is somehow going to fix their stupidity? I don't think so. Stay away!
When I signed up I filled out the application in my married name which was my legal name and what I had been using for the previous 9 years. I finally received my checks and found they were printed in my maiden name! This was not my name nor was it anywhere on the application I filled out! I then called customer service who couldn't tell me where they got this information or why they were printed out like this. So they said they would send new checks...which now delays me using my account even longer and when I finally received those the d..n things were printed with my maiden name again! When I called customer service again she said that supposedly it was changed from her end yet my checks were the same and the system online was the same. I couldn't do anything because it wasn't even my legal name! After going back and forth with them a couple times and no one could seem to fix whatever screw up they had created, I just told them to cancel my account. So I never even got to experience all the so called "perks" because they couldn't even get my name right! Would definitely not recommend this place to anyone!