Papers routinely get lost at DISCOVER BANK

[rkser]

I had this unfortunate experience twice during my 3 months with Discover Bank. I am curious whether it has happened to anyone else on the forum.

We faxed our signed papers as requested for a new online savings account & after 2 weeks called them to inquire about it, lady says no the account does not show that they they have received the documents. I insisted that she kindly search & make sure otherwise we will send them again. After 10 mins on hold she states apologetically yes she has found them & will update the account right away. I & DW rolled our eyes - 2 weeks to update our account after receiving the papers, anyway we soon forgot about it saying it happens.

Recently we opened few CD accounts with them, we signed the Signature Card etc and mailed them this time. After 3 weeks we get a letter asking to complete the Signature Card again. I called them to inquire, the same story again, no they have not received the papers & we will have to complete the papers again and send to them. When I asked her to please check again, she comes back after a 10 min hold & apologetically says yes she has found the documents which were received by them on Oct 3rd & our account had yet to be updated.

All this talk about internet banking being the future and they are very efficient etc is just talk in my opinion. I did not face such tardiness & inefficiency in all my life with my local brick & walls bank.

How has your experience with Discover Bank or any of the other Internet Banks been ? Sorry for my rant, but I think loosing papers routinely is not acceptable in my book. Here we are trusting them with thousands of dollars & they do not seem to know what they are doing.

With regards

[grumpy]

I only have a savings account with Discover Bank. Never had to do any paperwork. Opened the account on line. Set up online transfer access to and from my other accounts at other banks. I have transferred $ to and from Discover with no problems. I also do automated monthly transfers from Discover to a mutual fund and to a 529 plan and have not had any problems.

[harley]

I've had CDs and now a savings account with them. Sent in the signature cards, everything went just fine. My mom closed out a CD and they mailed her the check with no problems (she doesn't have internet access). So, no problems with some minimal experience.

[Nords]

Quote:

Originally Posted by rkser All this talk about internet banking being the future and they are very efficient etc is just talk in my opinion. I did not face such tardiness & inefficiency in all my life with my local brick & walls bank. How has your experience with Discover Bank or any of the other Internet Banks been ? Sorry for my rant, but I think loosing papers routinely is not acceptable in my book. Here we are trusting them with thousands of dollars & they do not seem to know what they are doing.

"Their customer service sucks, but boy are they cheap!!"
or
"Their food is terrible, but they serve such large portions!!"

To be fair to Discover (and the Internet), the electronic network seems to have functioned as advertised. It was only when they attempted to process the paperwork that they screwed it up, and that's probably because they laid off 90% of the paper-processors after they turned most of the task over to their website.

[rkser]

Nords, that is probably a true representation of Discover Bank at this point.

Yes the Website works flawlessly, but the paper work dealings belong to the bottom of the barrel efficiency. Yes, had it not been for their better CD rates I would not have bothered with them

Regards

[Gotadimple]

This is unfortunate.

I suspect this is a problem with Discover Bank, and to lump all internet banks in with this organization is unfair.

I have had no problems getting paperwork to ING Direct -- they accept and support scanned attachments. Same with American Express Bank.

-- Rita

[pb4uski]

Quote:

Originally Posted by grumpy I only have a savings account with Discover Bank. Never had to do any paperwork. Opened the account on line. Set up online transfer access to and from my other accounts at other banks. I have transferred $ to and from Discover with no problems. I also do automated monthly transfers from Discover to a mutual fund and to a 529 plan and have not had any problems.

+1 Opened account on line and have done transfers in and out through online instructions with no problems. Quite happy with their customer service but my experience has been all internet, not paper.