Comments on: IGoBanking Account Setup Completed

By: The Sun

The Sun — Fri, 16 Feb 2007 16:11:51 +0000

My IGoBanking account is actually also a joint account with my wife, but I only used my registration to setup the online access and didn’t bother to through the whole process again with my wife’s registration. Both of us can access the account without any problem. So I don’t really think it’s necessary to have two separate logins.

As for the verification, it’s kind of annoying since the all the information was provided when signing up the account. However, since the fund transfer service is provided by a third party, it’s understandable that external account has to be verified again. About the fund transfer limits. What you saw the $2000 per day limits is the INITIAL screen when you made your first transfer. Once that is cleared, you will see a new screen with $100K daily limit for standard service (check out my post). But the monthly limit on funds being transfered out of IGoBanking is still only $25K, which is very low in my opinion.

By: Village Idiot

Village Idiot — Fri, 16 Feb 2007 04:31:43 +0000

I recently opened an IGoBanking account as well. I was a bit annoyed by having to add my external account again, but later ran into much bigger problems since my account is a joint account with my wife. We were each given individual logins. Even though they access the same account, the externally linked accounts are apparently independent. She added our checking account as an external account with her login and I don’t see it when I log in – nor will it allow me to add it since it was already used. After 2 days they have yet to respond to my e-mail asking if this can be fixed.

Also, there is a $2000 per day and $5000 per 30 day limit on deposits. This isn’t mentioned anywhere in the faq, help or terms of service until you go to the actual transfer page. There is a $15k per day, $25k per month limit on withdrawal – so if you have a lot of money in there and suddenly need all of it, you may not be able to get it.

By: Tight Fisted Miser

Tight Fisted Miser — Thu, 01 Feb 2007 23:21:02 +0000

I always pull money from PayPal so I guess that is why I’ve never been charged a fee. It seems like a pretty easy way to avoid the BofA fee.

By: The Sun

The Sun — Thu, 01 Feb 2007 18:42:12 +0000

I use my BoA checking account to fund all my investment accounts and never paid a fee either. The question I think is how the funding is done. Do you PUSH money from BoA to PayPal or do you PULL money from PayPal? I am not sure how you do it, but for my case, the money were all pulled from other accounts. Since I was never charged a fee, I don’t have any first-hand experience, but that seems to be the only explanation and that’s also what I heard from others with experience.

By: Tight Fisted Miser

Tight Fisted Miser — Thu, 01 Feb 2007 17:50:42 +0000

I use my BoA account to fund my PayPal account regularly and I’ve never been charged a fee.