We switched from BoA where I'd describe my experience, to put it politely, as unfriendly and dishonest. I was sick of going in to branches to discuss unexpected fees and being told to change my account type to avoid these fees in the future, only to be charged a new fee a few months later. Perkstreet although not perfect is completely transparent. They offer rewards on purchases you make using your own money not credit and in doing so do not incentivize debt like so many other reward programs.
Of course this is at the expense of the businesses you frequent because you have to run your debit card as "credit" - which of course cost the merchant a greater transaction fee - in order to receive the rewards. Perkstreet can not meet all of one's banking needs, but in terms of a checking account provider, I couldn't be happier. Perkstreet represents the bank of future. Gone are the days of brick and mortar financial institutions, online banking - when it comes to day to day finances - is hassle free and Perkstreet offers great costumer service over the phone further eliminating the need for branches.
Additionally, you get free use of all those gas station, barroom ATMs that used to cost me $4 when I banked with BoA. That they do all this with a small overhead, sending the rewards back to those banking with them only makes it a wiser decision to switch.
Thanks for being part of PerkStreet! Transparency is one of our core values. We're challenging the status quo and want to change banking forever. We'll be releasing new products as we continue to innovate.
If you ever have any questions or feedback, please feel free to email me at email@example.com.
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. :/