Cambridge Savings Bank Reviews (20)

Rated 2.73 stars out of 5 - based on 11 reviews
  • Jan 3, 2022 |

    Perfect credit and I was denied opening an account with NO explanation. Is this bank legitimate or some sort of scam?
    Review on the Online bank

  • Dec 4, 2021 |

    Online Savings Rates

    Easy opening and a nice rate. No complaints. As a Mass resident, I like Mass backs because of the flexibility of DIF, but Cambridge, the parent, is leaving so I would caution similarly-minded folks to bear this in mind and stay within FDIC limits. I might have appreciated better guidance on this during account opening.
    Review on the Online bank

  • Nov 27, 2021 | | Replies 1

    Online Savings Rates

    Not easy to work with at all!
    Review on the Online bank

    Ivy Bank | Nov 29, 2021

    Hi Pete T,

    We are so sorry to hear this. Please give us a call at 855.489.2265 or email us at ivyinfo@ivybank.com with the best number to reach you and we will give you a call so that we can better understand your experience and work to get it resolved. We look forward to hearing from you.

  • Oct 28, 2021 |

    Great rates and friendly staff.
    Review on the Online bank

  • Oct 5, 2021 | | Replies 1

    I opened a savings account two months ago. When I initiated a scheduled, recurrent external transfer, the amount was deducted twice from my funding account. This problem was solved a couple of days afterwards. When I wanted to initiate an external transfer from a (previously) linked bank account, I was unable to do so because somehow there was no account linked to my savings account with IvyBank anymore. After a conversation with an agent, I am waiting for the problem to be resolved...
    Review on the Online bank

    Ivy Bank | Oct 13, 2021

    Hi Drak123,

    We are so sorry to hear about your experience. Please give us a call at 855.489.2265 or email us at ivyinfo@ivybank.com with the best number to reach you and we will give you a call and work to get this resolved. We look forward to hearing from you.

  • Sep 25, 2021 |

    Online Savings Rates

    So far so good! Excellent top market rate and solid customer service.
    Review on the Online bank

  • Sep 13, 2021 | | Replies 1

    I was lured in by the rate, but totally disgusted by the service, or lack thereof. Opened an account on 9/7, it finally showed in my balance on 9/11, but it's still not available on 9/12. Also on 9/11 I received a notice of hold for seven business days on that same deposit since they're "unable to verify funds at this time." Meanwhile, I transferred more $$ from an outside bank and received an email that the request has been scheduled but here it is, 5 days later and that transfer doesn't show anywhere on my Ivy account. I'm going to close this account - as soon as I can talk to a human! PS Their phone service has been down since I opened the account on 9/7. This is not reassuring for an internet bank!
    Review on the Online bank

    Ivy Bank | Sep 24, 2021

    Hi JRS,

    We are so sorry to hear that we haven’t met your expectations. We’ve been experiencing higher than normal call volume and an increase in demand and completely understand your concern and the frustration this has caused. We are back to our normal service levels and would love to help address any outstanding issues you’re having. Please give us a call at 855.489.2265 or email us at ivyinfo@ivybank.com with the best number to reach you and we will give you a call. We look forward to hearing from you.

  • Sep 10, 2021 |

    I opened an account with them because of the higher interest rates. I never had any trouble reaching someone on the phone when I was opening the account. Now, only a couple of weeks later, I can't speak to a real person. All calls go straight to email and no one calls back. I requested to close my account through their online chat yesterday and still money in my account so that obviously didn't happen. HORRIBLE customer service.
    Review on the Online bank

  • Sep 8, 2021 | Replies 1

    One of the best APRs out there, but not worth the hassle. They have some issues to work out in their system still, so I would not open any accounts with them until they can work those issues out. Poor follow-up on said issues as well.
    Review on the Online bank

    Ivy Bank | Sep 24, 2021

    Hi WintersK,

    We sincerely apologize for any service-related issues you’ve experienced with us recently. We’ve been experiencing higher than normal call volume and an increase in demand and completely understand your concern and the frustration this has caused. We are back to our normal service levels and would love to help address any outstanding issues you’re having. Please give us a call at 855.489.2265 or email us at ivyinfo@ivybank.com with the best number to reach you and we will give you a call.

  • Sep 7, 2021 | Replies 1

    Nothing but problems since I opened my account less than a month ago. Calls to the bank go straight to VM which is very concerning. Avoid at all costs and go with Ally!
    Review on the Online bank

    Ivy Bank | Sep 24, 2021

    Hi LK735,

    We are so sorry to hear that you’ve had a difficult time reaching us. We have been experiencing higher than normal call volumes and an increase in demand and understand this has inconvenienced our customers. We are now back to normal service levels and would love the opportunity to address any outstanding issues you may have. Give us a call at 855.489.2265 or email us at ivyinfo@ivybank.com with the best number to reach you and we will give you a call.

  • Sep 1, 2021 |

    Online Savings Rates

    No complaints. Site is easy to use and it is worthwhile to get the extra incremental savings. There are transfer limits ($45k per day and $75k per month, I believe) and transfer delays. Those can be defeated by initiating transfers from an outside bank. Purepoint, CitizensAccess, Amex, Marcus all will do this. Alternatively, the bank offered to reimburse wire fees on a one-time basis during funding. I would recommend, but I would also emphasize that you should stay within FDIC limits since the bank is moving off of Massachusetts' DIF insurance in October.
    Review on the Online bank

  • Aug 24, 2021 |

    Online Savings Rates

    The rate is compelling, but 3 day for ACH transfers and very low transfer limits give me pause.
    Review on the Online bank

  • Aug 12, 2021 |

    Online Savings Rates

    This place is GREAT! The service is phenomenal, and there are no surprises. What you see is what you get.
    Review on the Online bank

  • Apr 18, 2016

    CDs 12 Month Rates

    No 2% 12 month CD unless IRA. Misleading at best.

  • Apr 12, 2016

    CDs 12 Month Rates

    You should remove this bank from your list, it's false advertising since this 12 month 2.00% rate is only for IRA up to $6500 max, who cares !!!

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