"Telephone" Bank...

[Lancelot]

Well, they present themselves as "Netbank" but I belive a name change is on order...

I had a six-month CD maturing on Nov 24, 05. Several days before it matured, I emailed NB, requesting that they roll over the principal and transfer the interest proceeds to my NB Money Market. Since they never responded to my mail, I sent another mail, just to be safe.

On their website they advertise that a one year CD earns 4.65% APY. Further, NB previously sent me an email, informing me that they reward customers with an additional 30 basis points for rolling over maturing CD's. So I thought I was locking in a one year CD @ 4.95%.

Well...

NB never acknowledged my email.

Didn't sweep the interest proceeds to my MM.

Rolled over my CD @ 4.35%

I called them just now and they are "closed" for Thanksgiving.

Netbank has terrible customer service, and for an "Internet" bank, they can't seem to trouble them selves with responding to emails.

I will change banks, it's just a pain to do it from Thailand.

I thought internet transactions were supposed to be cheaper to process? NB could give a rat's ass about them. It amuses me because they love to tout themselves as such an attentive, easy to do business with institution.

I received a $50 promotion when I first signed up with them. It seems NB would rather throw money at luring new customers into their web as opposed to simply being responsive to current customers.

Well, it is what it is, but they certainly do suck...

Lance out