Colorado Federal Savings Bank Reviews (18)
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Bad experiences with this bank and maturing CD's. I wanted the funds returned to my external bank and not rolled over into another CD. After several phone calls, and messages sent through their secure message center giving them instructions, they still rolled over the CD's! And at a terrible rate! It took 5 days to finally get my funds returned, costing me a week of investment income! I requested they wire the funds to my external bank to cover their mistake and they refused, saying a (three day) ACH was the best they would do. Why was I paying for their mistake? Or, is the shell-game one in which they look for the retiree to forget about a CD, allowing them to roll over at terrible rates? As a retiree, I live on these investments, and the loss of a weeks income is meaningful.
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wherever this comptroller thing is in your state kick them out on the street after you take the comptroller thing and take them somewhere on the east coast where there are sharks in north Carolina water and the sharks will eat them if they don't stop ok and you will say see those sharks you will go in if you don't stop and trump said to do that to everybody
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I am going to take issue with the reviews of Potter and Igor. There is a delay between signing up and getting the test deposits, and then another one between confirming the deposits and the money being drawn. Nevertheless, the CD comes due 1 year from the day you sign up and register to receive the test deposits, and you start earning interest the moment the money is drawn from your other account. Potter is dead wrong.
Review on the Online bank -
I have experience with this bank. The CD rates are great and the customer service is accessible, but they play the Ally Bank game. It takes a long time to get money moving. There is a 3 business day lag between the ACH draw on your outside, correspondent account and the account being set up, and then a 3 business day drag between maturity and being receive the ACH back. All in, you are going to lose about 2 weeks of interest and the real rate winds up being 10 or 15 basis points below what you think it is. After you factor in your tax rate, you aren't being compensated for your effort. I find the entire lag thing to be really questionable business practices, but unlike with Ally, it is disclosed here. Caveat emptor.
Review on the Online bank
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DaveJ
Jun 21, 2021 |