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Thread: Best place to accumulate a bigger cash position.
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Old 10-10-2014, 10:58 AM
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Quote:
Originally Posted by Bogie Shooter View Post
I would do a lot more research, than asking for an online opinion.........before sending them a check.
Here is one review I saw from a Google search.

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I chose this savings account based upon competitive interest rates and good customer ratings. I have been repeatedly disappointed. I should say that I have 6 other online banks, all with much better service than GE offers. First off, the application process is flawed. I completed the application but received no confirmation. During the completion, I couldn't figure out how to link another bank for deposits using the usual online verification process. Ugh, I was stuck doing this by mail. Later I realized that "random payment" indicated an online process. So after I snail-mailed the deposit slip from my other bank and an authorization letter to link the account for transfers, 2 weeks passed.

I had to contact them to find out that they couldn't locate the complete account number, although this is displayed on the deposit slip. Contacting them? I gave up on waiting on hold on 2 occasions and settled for email response in 24 hours. Nothing like the immediate Chat help feature at Ally. The initial deposit was held for 12 days before it was made available.

Furthermore, I couldn't find their routing number anywhere on the website, spending way too much time looking for it, resorted to another email, waiting another 24 hours.

So, the website has poor functionality and the ability to contact them is painstaking. Choose Ally and/or CIT bank over GE Optimizer -- hands down.
I took your advice and did some online research. I went to Bankrate.com and Synchrony Bank was second from the top of their list for interest at .95% APY. The Safe & Sound rating system gives them five stars.

As far as service: It seems those who complain the most are those who require the most service for making payments and money transfers etc.. I would just mail them a check two or three times a year and forget about it. No service needed. No worries about snail mail.