CFG Bank Reviews (60)
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CFG overs very competitive Interest rates on their High Yield Savings account.
I did everything ONLINE and have not had any issues with their service.
Review on the Online bank -
No problem with phoning the bank. It can take 5 to 10 days for the wire transfer, since CFG first makes 2 small deposits into your account to verify the Routing Number and account number YOU provide is valid. That itself can take 2 business days. Then depending on when YOU check your email and recieve a secure link from CFG, you must confirm the small amounts (2) (.28 and .87) prior too, the transfer of funding amount (10K) in my case. Easy to follow web site, just read every word, Safe and Secure.
Review on the Online bank -
I have tried to reach this bank due to my application did not go through by calling them and leaving messages for three days. No one will answer the phone or call me back. I am very disappointed after giving them all my personal information.
Review on the Online bank -
I've read all the reviews and been a depositor for many years. I do not live in Maryland and have never had a problem interfacing with them through the website or by phone. I would describe changing products as a nuisance (but not a problem) as you need to call and send documents to switch from say savings to CD to No Penalty CD back to savings. (Marcus and Ally are the gold standard here, CIT is worse). Politically, I am not a fan of the bank's focus on cannabis banking. Otherwise, I have been a very happy customer.
Review on the Online bank -
Just setup a new cd with this bank. The setup was very easy however, their response time is extremely slow. I have left 3 message with no return call. Was planning on putting more funds into the bank but now will not give anything to them at this rate. I cant even get my account number.
Review on the Online bank -
I retired in 1995 after 20+ years as a small bank president. Everyone should maintain some amount of liquidity and I refer to my MMA @ CFG as my COVID A/C because I opened it in early March, 2020 after tracking their rates for about 3 months. Previously I kept a comfortable sum @ Ally Bank for 5+ years essentially in staggered short term (11-18 months) CDs coupled with an online savings a/c for staging purposes. However, when CD rates became laughable, everything wound up in the savings. The problem with Ally was their rates dropped like a lead balloon and when they hit 1.5% APY I started transferring funds to CFG @ around 1.9%. Of course, by July, 2021, CFG had slowly fallen to .59% (Ally bottomed @ .50%) and held there until February, 2022 when their balloon started to ascend. But CFG's rates are extremely reactive to changes in the Fed Funds Rates which is why one would now think their balloon is filled with helium with a tag along nitro booster when needed. I still keep a little "chump change" @ Ally and I kind of enjoy the emails they send as their hot air balloon struggles to gain altitude. It serves to remind me to check out my CFG MMA. So, last Friday, August 5th when their APY hit 1.6% ... CFG was around 2.25% but now, 4 days later it's up to 2.55% and that's quite a spread. But, I'm readying my seatbelt everyone because we ain't seen noth'in yet! Could we be in for another Jimmy Carter ride to the Fed Funds moon of 19+% ??? And ... BTW: I would have given CFG 4.5 Stars but I had to round it up. No place is, after all, PERFECT.
Review on the Online bank -
Don't waste your time. No one returns calls. We waited for a week and never heard back from them. If you cannot get your money into the bank I can only imagine the hassles getting it out. If you read these reviews its clear they do not have the capacity to actually be an online bank.
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I read all of the comments. I figured I could cope with the 3 branch bank in Baltimore etc. as everyone said that the people are nice. Now, I am a couple weeks in and I need to call to get anything done. Then I need to fill out and scan forms and email them. I will gladly switch back to Ally which is a lower rate and slower to raise, but it gives me back my time.
Review on the Online bank -
Small Baltimore bank with 3 branches. The kind lady who is in charge of online accounts is very good. You will interact with her online and by phone. But, she is one person and this doesn't really qualify as an online bank. In fact, I am not entirely sure why it is listed on these websites. Bankrate doesn't show it (but Bankrate only shows the handful of banks that pay them).
Review on the Online bank -
I get it. Rates are good and all of that, but the website is terrible. Cannot log in. Need to keep resetting password. Need to call if I want to make any sort of transaction in or out. Just not user friendly. Hate to run back to Synchrony or CIT because they don't compete on rates any longer, but I am going to check out the other consistent rate leaders and switch to something that really is a functional online account.
Review on the Online bank -
Product changes - savings to CD, maturing CD to savings, non-penalty CD to anything, etc - cannot be done online. Need to call and get forms emailed, sign, scan, and return. The rest of the experience may be fine, but without the ability to do this, it isn't an "online" bank.
Review on the Online bank -
Heather is very nice on the phone and the others are very helpful as well. But there are lots of shenanigans going on here when the quietly lose small amounts when transferring between CDs or say that they closed your savings account because you moved everything to a CD. They are cheating small to support the rate, and I am heading back to Ally which is much more transparent.
Review on the Online bank
TJK
Sep 30, 2023 |