Comments on: IGoBanking Account Setup Completed

By: IGoBanking Review

IGoBanking Review — Thu, 13 Nov 2008 05:39:00 +0000

[...] IGoBanking Account Setup Completed [...]

By: FNBO Direct Account Up and Running | The Sun’s Financial Diary | A Personal Finance Blog on Saving and Investing

Mon, 14 May 2007 15:20:46 +0000

[...] to my accounts at HSBC and IGoBanking and initiated a transfer request. Unlike IGoBanking, which asked me to verify my identity twice and had to mail me my password in a rather lengthy process, FNBO makes everything straightforward. During the enrollment, I was [...]

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.

By: The Sun

The Sun — Wed, 31 Jan 2007 21:34:28 +0000

If you already have an IGoBanking account, you can link your BoA account to IGoBanking by setting up an external bank link at IGoBanking, not BoA, then initiate a fund transfer from IGoBanking, not from BoA. In this way, you don’t have to pay the fee. However, if you initiate the transfer from BoA, I guess you have to pay the fee.

By: tim

tim — Wed, 31 Jan 2007 21:01:07 +0000

So, with a 3K limit per transfer and a $3 dollar fee per transfer from BoA, to transfer 20K to IGoBanking it would cost me $21? how do i avoid that cost?

By: The Sun

The Sun — Wed, 31 Jan 2007 20:17:19 +0000

Tim: Actually, BoA charges the $3 fee ONLY when you initiate the transfer from BoA. As for IGoBanking (actually any other banks that allow you to setup external bank links), you can initiate the transfer from IGoBanking. In this case, there’s no fee as IGoBanking doesn’t charge any fee for standard fund transfer.

By: tim

tim — Wed, 31 Jan 2007 20:05:59 +0000

How do you avoid the $3 transfer fee that Bank of America charges?

By: IGoBanking Account Fully Functional - The Sun’s Financial Diary - Accumulating wealth is like building The Great Wall, one brick at a time

Thu, 25 Jan 2007 16:03:59 +0000

[...] a transfer of $2,000 from my EmigrantDirect account to IGoBanking account on January 17th after setting up external account links and verifying my ownership of those accounts I linked to IGoBanking (I have linked Bank of America [...]

By: Justin

Justin — Thu, 25 Jan 2007 01:02:48 +0000

I signed up several weeks ago and transferred some dollars from one institution, Amsouth, to iGoBanking.com.

During the transfer process I got nervous because it said “click here for fees for transfer.”

I clicked the link and it opened a new window where all it explained was transfer limits. I looked through FAQ and all over the site where it explained the transfer fees (not mentioned anywhere).

I sent an email last Friday with a ‘read receipt’ attached. The email was read Monday morning. It is now Wednesday night and I still have no response. I sent a follow up email this afternoon and got a read receipt, but still no response.

I am concerned that this is an example of there customer service and it makes nervous and putting my money there.

I called, and did get an answer. The woman spoke English very poorly, wasn’t very polite and seemed annoyed that I was asking her questions about the fees, which she said there were none.

Of course we all have probably had experience talking with “John” at some big company who has no way to reach him or extension to hold him accountable to what he says.

Apparently there are no fees right now, according to this one person. But it isn’t clear on their site, and no one responds to emails.

Not sure I want to put my money there. Emigrant Direct might be a few points lower on the rate, but they respond quickly.

By: The Sun

The Sun — Wed, 24 Jan 2007 16:57:35 +0000

Yes, it’s a little bothersome to have to verify the account again, but since fund transfer service is provided by a third party, it’s understandable. I initiated a fund transfer on January 17 using the scheduled service, and the money wasn’t posted to my account until the 23rd though the date shown on my account was 22nd. That’s four business days. I tried another transfer with their standard service. Let’s see how long that will take.

By: Pamela

Pamela — Wed, 24 Jan 2007 05:58:23 +0000

I too just opened an igobanking account. I found the having to re-verify my account again a pain and I’m still waiting for my ACH transfers to go through that I setup last week. Generally, not as fast, pretty, or user-friendly as ING but for 1.3% APY more, I can put up with it. Cheers!