NetBank Sucks Customer Reviews and Feedback

From Everything.Sucks

NetBank, formerly named Atlanta Internet Bank (1996) and Net.B@nk (1998), was a direct bank. Netbank suffered from bank failure and was closed by regulators on September 28, 2007. It deposits were acquired by ING Group and the domain name was acquired by Axos Financial.

An angry former customer mentioned, "NetBank by far has the worst customer service of any bank that I have used or worked for, and banks are generally known for poor customer service. NetBank agents may as well be outsourced call center representatives who have no idea what is going on in their company. This from a bank that touts being completely online and thus passing on the savings to their customers. Perhaps they should spend a bit more on hiring better employees and retaining their customers.

I closed all my accounts on Sept 12, 2006 because of several customer service interactions that left me enraged. Because of the interest rate offered, I had been transferring money every month into the NetBank savings account, but the little more that I could save was not worth the hell of dealing with such a bank. So upon closing this account, one would assume that all transfers would also cease. However, only 2 weeks later, on Sept. 30, 2006, the automatic transfer pulled money from my main account at Bank of America (BofA). Dreading the outcome, I made the call to customer service. The CSR said that I had initiated the transfer, even after reading the email that NetBank had sent stating that my account was closed and all transfers stopped."


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Current Contractor - Senior PM says

"Guy made redundant. In less than 24 hours the guy everyone knew would take his place is starting to do what he did. What’s a REDUNDANCY again? Seen it many times."


"was forced to work on all public holidays without penalty rates. Netbank department at the time was understaffed and did not receive nearly enough training to work effectively."

Customer Support (Former Employee) says

">Researched customers dispute and fraud claims of financial transactions"

Fraud Analyst (Former Employee) says

"I had a great manager at one point, but when she left it was a horrible environment. The company began massive lay-offs and I was fortunate to leave before it happened."

Mortgage Operations Manager (Former Employee) says

"NetBank was a great place to work but their corporate business plan was not efficient in the banking industry and therefore they went bankrupt in less than 10 years. Good process but bad management eventually brought the company down"

SENIOR ACCOUNTANT (Former Employee) says

"NetBank, formerly named Atlanta Internet Bank (1996) and Net.B@nk (1998),[1] was a financial company engaged primarily in retail banking, mortgage banking, business finance and providing ATM and merchant processing services. NetBank was founded in February 1996 and completed its initial public offering of stock in July 1997. It was one of the pioneers of the Internet banking industry, and recognized as one of the first direct banks in the United States. Its headquarters was in Suite 100 of the Royal Centre Three in Alpharetta, Georgia.[2] Cons: n/a- co closed"

Promoter (Part-time) says

"Good People and a Good work environment Cons: The work slows down due to long working hours."

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