Hello guys…
I’m looking into financial options and considering Live Oak Bank for their services. If anyone here has experience with them, I’d love to hear your thoughts. How is their customer service? What are their interest rates like? Are there any hidden fees or drawbacks I should be aware of?
Live Oak has consistently provided dependable transactions as well as friendly and helpful customer service. They also provide some of the highest interest rates for business savings accounts. The one disadvantage of using this firm is that my automated draft is made every Friday from my business checking account, but the monies do not appear in the account or become available until the following Friday. They are listed as pending till then. This is not a significant concern in my current situation, but it is information that I believe others would find useful. I have not made a withdrawal from this account, but I expect it will take the same amount of time, thus anyone in need of dollars right now or the next day should check before using this company.
Live Oak Bank has one personal savings account with good interest rates and no transfer fees.
I have done some research on Live Oak Bank and found that it’s a solid online bank that offers competitive interest rates on savings accounts and CDs. The savings account currently earns a 4.40% APY with no monthly fees or minimum balance requirements. Their CD rates are also higher than average, ranging from 3 months to 5 years with a minimum deposit of $2,500. While Live Oak Bank doesn’t have physical branches, their online platform is user-friendly and allows for easy account management. Customer service is available by phone on weekdays. Reviewers on Trustpilot report good experiences with Live Oak’s support, although some had issues with interest rates and account access. Overall, Live Oak Bank seems like a reliable choice for those seeking an FDIC-insured online bank with strong savings and CD rates. The lack of monthly fees and minimum balances makes their accounts accessible to a wide range of savers. However, those looking for a full suite of banking products may want to explore other options.