Red Neck Bank

[tophie]

Take a look at http://www.redneckbank.com .

 

The concept is funny. It's a real bank. I think posting the link will be okay.

 

I just tried to open an account with them and they use Early Warning System. I faxed down a letter requesting reconsideration anyway.

 

Also, take a look at this news story about them which is how I found out about them http://www.tulsaworld.com/news/article.asp..._0_Ifyoud699480

[hurricanesfans27]

they are a pita when it comes to doing transfers to another bank or to their bank

[crazymonkeycat]

they are a pita when it comes to doing transfers to another bank or to their bank

 

 

What does this mean?

 

Thanks!

[crazymonkeycat]

I just tried to open an account with them and they use Early Warning System. I faxed down a letter requesting reconsideration anyway.

 

I should have added this to my last post but... Do you have an update on this? I'm wondering how strict they are with EWS. I haven't received my report yet (I mailed for it this week) but I'm in Chex so I'm pretty sure I'm there too. I need to add another bank, I hate relying solely on BofA.

 

Thanks!

[hurricanesfans27]

I linked my other bank account with them so I could transfer from bank to bank like I do with Etrade and Fidelity. Well they wont let you do that the first 30 days and now its been 50 and I still havent been able to do that. Im going to call today and raise a little cain about it.

[crazymonkeycat]

I just read the deposit account agreement for this bank. Wow.

 

You're only allowed to withdraw $300 from an ATM per day.

You're only allowed to purchase up to $600 per day with the debit card inclusive of ATM withdrawals for the day.

Plus, you're authorizing them to do a pull from one or more credit bureaus as well as from EWS. Did you notice any hard pulls on your credit reports?

 

There was a bunch of other stuff in there that I didn't agree with but is probably in all banks deposit account agreements (like the dormant account "we'll give away your money to the state if you haven't used your account in some time. How much time? We don't tell you. It's a surprise. We also don't need to contact you to tell you." clause.

 

That interest rate is awesome though, if you use the debit card 10 times per month and it clears in your account by the time the statement closes, pending doesn't count.

 

It does look fun though and I'm still intrigued by the whole red neck bank concept

[nothingtolose]

ummmm.... not sure I'd like taking out a card that says redneck on it when I am making the minimal purchases.

[tophie]

Well I still have the account, they credit all my checks with no holds and I have the overdraft protection. I've had no problems with transfers or wires. It did take me a little bit of time to get the card. I ordered checks elsewhere. I only know of them pulling EWS.

[hurricanesfans27]

Well I still have the account, they credit all my checks with no holds and I have the overdraft protection. I've had no problems with transfers or wires. It did take me a little bit of time to get the card. I ordered checks elsewhere. I only know of them pulling EWS.

 

 

 

 

They didnt pull credit with me either.