Just some basic facts; My direct deposits are posted and available early on the date expected. I have found, on the few times necessary to call, customer service as good as others. My only negative is that there is not eStatement available.
Pros: Very little, I thought the rich history of TIAA-Cref would spill down on their newly created online banking- sadly it did not.
Cons: Mint.com downloads were always problematic
Rates continued to fall throughout 2013, most money markets online banks held steady .75-.90%, My last straw was .54% in Oct 2013, it has continued to go down to .45%
Rates are tiered, Sallie Mae Money Market does not have tier rates.
I too, got the stern Patriot Act Letter after closing my account, so I was not affected but when I called in October when the rates further declined and was attempted to be cross sold into a one year cd which still was not competitive at the time and still is not.
Lastly, when I called in October 2013, I remember the customer service rep asked me if my deposit was inherited, or earned income I was irked by her question, but did not ask further why that was important, she said it was to update on the original online application. I never remember a question like that being asked.
Received a Threatening Letter From TIAA DIRECT telling me I need to call them with information they need to comply with the patriot act. or they may restrict access to my account or close it.
The letter states the call will "take no longer than 5 minutes"
I have now been on hold listening to a recorded apology for the hold time for more than an hour.
Worst customer service I have ever encountered from a financial institution.
I will try to call again tomorrow.