Live Oak Banking Company:
Online Savings Account - 1.05% APY
•There are no monthly maintenance fees or minimum balance requirements
• No minimum balance to open
• Maximum balance is $5 million (BestCashCow advises remaining within FDIC coverage limits).
• Make up to 6 withdrawals per statement cycle.
• May link your account with up to 3 other accounts and may transfer up to $250,000 either inbound or outbound.
• Fees charged for inbound and outbound wire transfers.
• No trust accounts.
• No ATM access.
Fee and Feature Guide
| Savings Account | |
|---|---|
| Interest Rate | |
| APY | 1.05% |
| Minimum deposit amount | $0.00 |
| Maximum deposit amount | N/A |
| Balance Requirements | |
| Minimum Opening Deposit | $0.00 |
| Minimum Balance to Avoid Fees | $0.00 |
| Minimum Required Balance | $0.00 |
| Fees | |
| Monthly Maintenance Fee | N/A |
| Foreign ATM Fees | N/A |
| Insufficient Funds Fee | N/A |
| Incoming Wires | N/A |
| Statements | |
| Paper Statements | Yes |
| Online Statements | Yes |
| Online and Telephone Banking | |
| Online Banking | Yes |
| Telephone Banking | × |
| Mobile Banking | Yes |
| Deposit Checks with Mobile Device | Yes |
| Free Bill Pay | Yes |
| Online Bill Payments Required | Yes |
| Account Opening | |
| Open Online | Yes |
| Insured by | F.D.I.C. |
Customer Reviews for Live Oak Banking Company
leo
May 19, 2022 |
procedures arbitrary, after initial approval of application said photo of address verification did not include all 4 corners of page therefore application incomplete and no longer approved. Suspect this bank may develop new rules when it comes time to withdraw money. Waste of time and effort to get involved with them. 4 corner requirement was never presented during the application process.
Is this review helpful? Yes:1 / No: 0
Overall happy
March 23, 2022 |
But, not appreciating the constant emails offering $200 if I deposit another $25,000 when I am up against FDIC limits. I may take my business elsewhere as this is tantamount to shitting on your most loyal customers in order to get new lesser valued customers.
Is this review helpful? Yes:0 / No: 1
regular me
March 7, 2022 |
I am just a regular me who deposited a large sum in Live Oak a few years ago. I have been a happy customer and valuable one too. I do not appreciate the bonuses for new customers, having never gotten one or asked for one before. I also have an account with Marcus and they always extend the same opportunities to everyone. This regular me has not been made to feel that his patronage is valuable at all.
Is this review helpful? Yes:1 / No: 0
Regan Dave
November 13, 2021 |
Rate is not unattractive in this environment but I will wait until January or February and see where things are then.
Is this review helpful? Yes:0 / No: 1
SHIRL59
October 27, 2021 |
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.
Is this review helpful? Yes:2 / No: 1
Add Your Review