Live Oak Banking Company Reviews (42)

Rated 3.25 stars out of 5 - based on 24 reviews
  • Nov 13, 2021 |

    Online CDs 12 Month Rates

    Rate is not unattractive in this environment but I will wait until January or February and see where things are then.

  • Oct 27, 2021 |

    Online CDs 24 Month Rates

    I have invested with Live Oak for many years and have never had a problem with them. My on line instructions have been followed 100% in a relatively timely manner. Withdrawals seem to take 1 day, new investments take longer to post but earnings start when the account is created. I have never had a problem with this bank over 8 years doing business with them. Any time I have called customer service I have been connected to an intelligent and polite person who either immediately answers my question or calls me back within a very short time period with the answer.

  • Sep 1, 2021 |

    Online Savings Rates

    been here a while. generally pleased. friendly folks give impression of a local bank with online access. website was difficult to read and the new one is cleaner. i will continue to bank with them.

  • Jun 25, 2021 |

    Online Savings Rates

    A clear case of bait and switch advertising there CD rates and then constantly dropping then before anyone can open an acocunt. I have filed a complaint with CFPB.

  • Apr 22, 2021 |

    Online Savings Rates

    This is basically an online bank only. It is unknown here in Eastern NC, even though it claims to serve this area. I was happy to take the risk when the rate was good, After all the small drops, it isn't good any longer.

  • Mar 29, 2021 |

    Online Savings Rates

    Not the smoothest website, but good enough and they are staying competitive. I first opened the account 2 years ago after seeing it advertised here and have no had no reason to close. I have had both savings and CDs.

  • Feb 28, 2021 |

    Online Savings Rates

    Never really sure when interest is going to be posted to the account, otherwise it is excellent.

  • Jan 27, 2021 |

    Online Savings Rates

    I've been a depositor since I opened about 2 years ago when they launched and were advertiser here and everywhere. The rates are still competitive, but why can't then issue a 1099 or put it online in a timely manner like everyone else does?

  • Sep 3, 2020 |

    Online Savings Rates

    This is the best bank on the list. Great service, competitive rates, no problems.

  • Aug 28, 2020 |

    Online Savings Rates

    I've been banking with Live Oak since they first began offering online savings and CD products about 5 years ago. I've never had a problem and always received prompt service online, by phone and by message when I have a question. Their rates have come down a bit over the last several months and I could use this section to complain. Rates have fallen everywhere however, and LOB has remained very competitive. So no complaints!

  • Jul 31, 2020

    Online Savings Rates

    I opened for the rates, but stayed for the service. 5 stars for the fast email responses to any question.

  • Jul 7, 2020 |

    Online Savings Rates

    They use to have best savings rate. Now they just do down and down and down

  • Apr 6, 2020 |

    Online Savings Rates

    The bank uses "Plaid" system for linking with external bank. Less than 1/3 of American banks (2,000 out of 6,800) currently accept Plaid, and there is no way around it. Another gang of cyber-swindlers.there is no way around it. The r

  • Mar 20, 2020

    Online Savings Rates

    Tried to open up an account. They require you to give your bank logon credentials to a 3rd party company (Stripe) to do the external account verification and transfer. NO WAY JOSE! They also want you to use the Chrome browser. Sorry, going elsewhere...

  • Mar 10, 2020 |

    Online CDs 12 Month Rates

    The interest payment is sometimes credited on the last day of the month, sometimes on the 1st or 2nd day of the following month, but nothing but good things to say about this one.

  • Feb 11, 2020 |

    Online CDs 12 Month Rates

    I have been an account holder since they first launched about 2 years ago and have had nothing but good experiences. I had to call this morning about my 1099 and they were just super, super nice.

  • Aug 14, 2019 |

    Online Savings Rates

    I have been a customer for about a year after first identifying the bank on this site or on Bankrate which I also check. Savings rate has stayed strong but transfer speeds could be improved.

  • Jul 7, 2019

    Live Oak has a great thing going. Very easy to open an account online and great rates. Customer service is accurate and dependable. I highly recommend this institution. Thank you Live Oak!

  • Jun 19, 2019

    Posted 06/19/2019, I posted this review on Live Oak Bank and it is incorrect, I have the wrong bank, sorry for this post.

  • Jun 19, 2019

    Live Oak Bank was easy to open CD but when it expires you have to send them an e-mail telling them what you want done with it. There is no electronic transfer out unless you have another account with them. They then send you a check which takes days and then you have to deposit it in your bank, the Feds are talking about lowering their rates and time is crucial to get into another CD @ 2.75%. They do have great people to work with.

  • Jun 3, 2019 |

    Online CDs 12 Month Rates

    I have a savings account and several CDs at Live Oak and opening, funding and transferring amounts couldn't be easier. I've also benefited with 2 increases in the APY on my savings account since I opened the accounts in March 2018. I'm a happy customer.

  • May 2, 2019

    Online Savings Rates

    100% Great service. This account is FAST transfer!! Any of the one star reviews are difficult to believe.

  • Apr 4, 2019 |

    Online CDs 12 Month Rates

    I had a savings account with these guys and decided to roll it into a 1-yr CD. It was 5 days after they moved money out of the savings until they moved it into the CDs so I lost 5 days interest. A complete scam!

  • Mar 28, 2019 |

    Online Savings Rates

    I am done with these guys. I called with a question about rolling my savings into a CD, and the woman read off my information for confirmation. Having an account with these guys is a liability. They aren't ready for prime time.

  • Feb 5, 2019 |

    Online CDs 12 Month Rates

    have both savings and cd, rates are top notch, ease of use great, quality of web access and account access very flexible, couldn't be happier

  • Nov 25, 2018 |

    Online CDs 12 Month Rates

    The 2.80% 1-year CD rate is a mirage. Not easy to open or transfer money. Frustrating! Note to Bestcashcow - this is a local bank in North Carolina. You should not be listing it among online rates. You are wasting people's time!

  • Jul 8, 2018 |

    Online CDs 12 Month Rates

    Open account 2 months ago talked to them several times on phone they were always nice and very helpful no problems so far everything is good

  • Jul 1, 2018 |

    Online Savings Rates

    They were competitive but have stopped raising their rates and now provide only a spinning wheel when you try to log in. Nice!

  • May 28, 2018 |

    Online Savings Rates

    We opened a joint account here about 6 months ago when the rate was the highest. We have enjoyed the rate and had never needed to contact them by phone. We tried to call last week with some minor issues with the website and only Ikea has longer hold times! We will be switching back to Ally or Capital One as soon as their rates match.

  • May 27, 2018 |

    Online CDs 18 Month Rates

    Was asked to provide all sorts of ridiculous additional information to verify my identity during CD transfer process (do not have passport) and water and electric bills are in my wife's maiden name. Then, they lowered the rate.

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