Fabulous Financials

OneUnited Just Lost My Business

3 July 2006, 7:51 UhrRantsSingle Ma

Unfortunately OneUnited is NOT the hidden treasure I thought it would be. I’ll admit. I was wrong! I jumped to conclusions and assumed the best because it is “…the largest Black-owned bank and first Black-owned internet bank in America.” It also offered a competitive rate (5.00% APY) for its online savings account. I researched their history, financials, customer service feedback, made sure they were FDIC insured, etc. My findings generated nothing but positive results. Not sure if it’s the same bank but even Bankrate.com gave “One United Bank” a 4 out of 5 star rating. Even with all of my due diligence, I am sadly disappointed.

If you’re looking for a high yield savings account, sign up for ING Direct using a referral link to earn $25 with an initial deposit of $250. That’s an immediate 10% return. Then once you have an account, you can refer up to 25 people for an additional $10 each.

I opened the Unity savings account online, input bank account information, authorized online transfer for the deposit, verified ownership of my checking account, blah blah blah and all that jazz. I received multiple “welcome” emails that were supposed to guide me through the remaining steps. Everything was kosher until…

Problem #1: I received an email that welcomed me as a new customer yada yada. I went online to view the status of my account and the results were: application decision “approved,” decision details “congratulations…,” tax certification and signature card “complete“, funding status “We are ready to fund your account as soon as we finish processing your application.” What? Ok, no biggie. Must be some kind of technical glitch. Wait…

Problem #2: The next day, the deposit was withdrawn from my checking and I received an email from OneUnited that said my account was funded. Aight, cool! Go to view account online again, but status shown above remains the same. This time I try to register my account to see if I can access it anyway. Input my name, address, social (also user ID/password), employer info, three (dumb azz) validation questions, mother’s maiden name, blood type, height, weight, favorite food, promissory note on my child’s life, etc. *exhale* After all that bull, I get an error message!

Problem #3: Few days later, I get a letter welcoming me as a new customer blah blah with my account number and other information. BTW, the mailing address for the bank is on Crenshaw Ave. *raising an eyebrow* No offense Cali people, but a bank located on Crenshaw was a little surprising. LOL So anyway, I try to access my account online again. This time, I login with my social as the user ID and last four as the password (per registration instructions). This time I get “This login session is not allowed as you already have an existing Internet Banking session on this computer.” WTF!!!! Close all my browsers, try again. Nope! Delete the cookies, try again. Nope! Restart my computer, try again. Same thing!

Problem #4: I notice the “message of the day” below the account login says “Having trouble logging in? Call us toll free at 1-866-689-4071. We’re available 24/7 and will promptly serve your needs.” Thank goodness!! I call, give them everything except the color of my panties to verify my identity, to which they respond “Ms. Single Ma, you can not access your account online yet because it is still pending…” WTF!!! Keep in mind, I received multiple emails that said my account was complete, the deposit has been withdrawn from my checking acct, I received a letter with my account number and other info, and I completed the online account registration process.

Problem #5: I asked the…umm…person to check my account and tell me if the initial deposit was made. This is when I get pissed!! She said she was not able to access my account because she works for a third party company who only provides technical support. WTF!! Did I just give my social security number to a person who is not even employed by the friggin bank?!?!?! Single Ma: “Ok, may I speak with a bank employee?” Techie: “I’m sorry but the bank is closed. You can call back on Monday.” *roll my eyes* Single Ma: “whateva!” *click*

Problem #6: Monday morning (umm today), I call ‘em up. Now I have several issues: 1) why is my account status still pending although I’ve received multiple communications stating otherwise, 2) where is the money that was taken out of my checking account, 3) why can’t I access my own account, and 4) why am I not informed that tech support is a 3rd party company. Dial 877-663-8648, push 3 for this, 2 for that, input your account number, your social security, hair color, push 5 for more, 7 for a joke, and 15 if you want to hear the happy birthday song. After all that, they don’t even have a person available. You have to leave a friggin (I know I’m saying friggin a lot but I’m thinking the real word) message and someone will return your call in 24 hours. You don’t even have the option to hold if you want. Oh yea, you do have the option to email them at customersupport@oneunited.com and be sure to include your account number and any other identifying information. Don’t worry, the message says their email system is secure. PUH-LEEZE!!

This is friggin ridiculous!! Why black people, why!?!?!?!?!

Whenever they decide to call me back, I want my account closed ASAP!! And of course, I will follow up in writing.

~*~*~*~*~*~
Work to achieve, not to acquire.
And as always, BE FABULOUS!

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26 comments:

Kira, 3 July 2006, 8:27

Wow, they totally failed not only the last mile but also the several miles before that. I would be very angry that a third party company is handling potentially sensitive transactions, that is really setting themselves up for problems.
L. Britt, 3 July 2006, 8:55

When they call back, make sure you record the conversation. That always helps improve customer service. Just ask Comcast and AOL!

I’m sorry, boo. I know you really wanted to support them. I’m sticking with Carver. That bank is run by a black woman!
Tired of being broke, 3 July 2006, 8:59

This lack of customer service is going to be the downfall of many companies.
The bad publicity AOL is getting is well deserved.
On the note of third party companies, this is happening alot with outsourcing and even ‘home sourcing’.
Jason, 3 July 2006, 9:11

I opened an account too and so far I don’t like what I’ve seen. First, everytime I tried to do an application it wouldn’t go through. I realized later that it didn’t like firefox so I had to use a different browser.

Now it has been over a week since I verified the deposits and I haven’t received any more emails nor has the money been taken from my account to fund it. I know the account number is right because of the trial deposits.

So far it doesn’t look good. I am going to reserve judgement until I’ve seen more. I planned on calling after the holiday if it wasn’t funded although I don’t like the idea of giving some 3rd party my private info.
pinky&lola, 3 July 2006, 10:02

oh my gosh! I was just about to get an account with them. Have one with ING and was trying to deal with a black owned business. Damnx3!
How lucky are we all that you are sharing your experience with us!
Dr. Deborah Serani, 3 July 2006, 16:34

Wow, good to know about this. I’ll pass it along.
Blackhoney, 3 July 2006, 21:42

Oh my gosh, I am so sorry to hear this.I was actually thinking about giving them my business too.How sad, hopefully this will all be worked out and this bank will grow and prosper.
Kelley, 4 July 2006, 8:56

I understand the frustration!!! I tried to open an account, and after the 8 (I counted) e-mails welcoming me… I was starting to get irritated. Then, when I’d get past the first screen, it would give me an error. I finally got through, only for them to tell me I already had an application pending. I just gave up.. I have the Ing account, guess I’ll stick with them!
Tazzee, 4 July 2006, 19:25

I’m glad I read this post because I had decided to open an account but I was procrastinating. Hopefully they’ll get it together.
"N" Search of Ecstasy, 4 July 2006, 20:09

I hope that you had a great 4th holiday weekend!
GeckoGirl, 5 July 2006, 5:22

Wow. Sorry to hear you had such a bad experience. HSBC’s online savings account is at 5.05% if you’re looking for another place to put your money.
JLP, 5 July 2006, 7:08

Geez, that figures. Based on YOUR recommendation, I set up an account and transfered $1.5 million to it! The money left my old bank but is not showing up at OneUnited!

I’m just teasing! I’m sorry you had a back experience. I bet they are sorry you had a bad experience too.

JLP

AllFinancialMatters
MsJayy, 5 July 2006, 19:57

Wow, that truly is a FRIGGING hot mess! I hope you get it worked out & thanks for sharing your experience with the rest of us. I think I’ll stick with ING. *Sigh*
Cocoa Girl, 6 July 2006, 4:36

Thanks for giving us the heads up!

Not making an excuse for the fellow Cocoas, but is it normal for a new business to have glitches in their systems upfront…
Single Ma, 6 July 2006, 5:14

OneUnited has been in business over 50 years so they are not new. Further, I don’t consider multiple inconsistencies in communication (online, email, and snail mail), withdrawing money from a person’s checking acct and not allowing them to access it, and not informing customers when they are dealing with a 3rd party before disclosing sensitive information as “glitches in their system.”

Even if they were, glitches and other people’s money are like oil and water. Sorry, can’t give ‘em that one. IMO, it’s poor customer focus.
Kendra, 7 July 2006, 9:58

I hope that everything gets straighten out for you.
butterycooky, 7 July 2006, 13:47

I also opened an account, I also received several different error messages when I tried to access my account. After changing settings, downloading the newest internet explorer, still no go, more error messages, but before I called to see what is their problem, I tried the Netscape browser…..shazammm, logged on smooth as silk,changed id and password and peeked at my growing pennies Just my experience.
Single Ma, 7 July 2006, 14:11

kendra Wassup you fabulous Capricorn? LOL Welcome to my spot!

butter I’m glad it worked out for you.

Just FYI to all - I never received a call back. Hmph, go figure! However, I did receive an email. They asked me how they could improve their services and I linked them to my blog post because I wanted them to see my complaint in detail. Since I have no interest in continuing the business relationship, there’s not much they can do to make me change my mind anyway because I’m beyond pissed.

To make matters worse, they told me I could NOT close my account via any written request (email or snail mail). Since it is an online account, I could only transfer the money out. Hello, I can’t access it!! Then the person in the email (no signature or identifying information re: name, email address, phone, fax, etc. like most businesses require) said they didn’t “anticipate activating my account before next Monday.” WTF!! That’s July 10th!! For an account that was opened on June 23rd!! 17 friggin days!! Ummm, how about activating the account before you withdraw money from a person’s checking account!! Jeez!! I can’t wait to be rid of them and I intend to share my experience with everyone I know.

All I can say is good luck to anyone who has an account with them, and for all others consumer beware!!
Single Ma, 13 July 2006, 17:29

Update: I’m finally able to access the account. The web interface is nothing impressive. I was thrown away when I saw tabs at the top of the page with misspelled words. WTF!!! Wish I knew how to post a screen shot. LOL

Serious issue - the email person told me to transfer my money out, but guess what!!??!!?? There’s no way to link the account to another bank!!

You can only do inter transfers to other One United accounts. The only way to get your money is to submit a manual request that asks for everything but your blood type. I felt like I was applying for a new account all over again.

The top of the page says your request may take four business days to process your transfer request. Basically a whole friggin week. WTF!!!

Ok, after you enter your name, address, ss#, bank name, routing number account number, amount to transfer, etc., you click submit and wait. There’s no confirmation number, no message on the next page, or email to let you know they received your request.

You just WAIT…wait and wonder if you did everything right…and wait a whole week for YOUR money. The 5%+ rate is nice, but for all that shyt, NO THANK YOU!!

Further, the website says there’s a fee after 6 months of inactivity. So if I can’t close my account (only transfer money out), will I be charged inactivity fees after 6 months? I guess I’ll know soon enough. *sigh*
Single Ma, 13 July 2006, 17:43

Oh yea, one more thing. I sent an email to two of the bank’s executives. It was a very professional and detailed email outlining my experience to date, why I originally chose the bank, but why I now have concerns. The email wasn’t complaining, it wasn’t whiny, nor was it accusatory. It was strictly professional and tactfully stated the facts. I included my real name, address, and home/cell phone number if they wanted to contact me (or have someone else contact me) for future reference. I attached read receipts to both emails and they were both deleted.

I will NOT give a bank my life’s savings or consideration of future investments that has such limited (scratch that) NO concern for its customers.
Anonymous, 20 July 2006, 5:29

I opened an account yesterday and had very similar problems (problems with Firefox, etc.) When I called customer service, they said “Maybe the system is busy” !?! After running into issues with them, I searched around and found these comments… I’d strongly recommend against anyone using this bank. Very disappointing.
waiting to exhale, 9 August 2006, 11:07

I guess I am in the minority. It only took about 2 weeks to apply and access my account. I initiated the application on July 28, 2006. By Monday, July 21, 2006 my trial deposits were in my bank account. I completed verification on August 1, 2006, received my welcome letter later that week, signed up for online banking on August 3, 2006 and can now access my accounts today, August 9, 2006. It appears that they finally got the message after many complaints.
Anonymous, 15 January 2007, 3:28

I had no problems at all either. Guess it depends on the timing. This a new service being offered and I think their system wasn’t tested properly to make sure the bugs were worked out. It seems this is what happened to customers jumping in new areas.

I will admit their phone and email services sucks but we too have to stop putting so much pressure our expectation on services on our folks to always being better than white services.

Givem a try at least for 6 months and then if they cant make the grades then move on to the next best service for your money.
a zubcak, 18 February 2008, 17:01

anyone have any current info on One United Bank. Safe to open an account? Rate is certainly dood at 5.15%
wynn003, 29 February 2008, 17:55

Wow… I thought the whole blog described my experience perfectly! The sad part is, I saw the date and it was almost 2 years ago. Mine took 1 month to just be able to log in, but cannot fund from the bank that initially funded the account. WTF is right! Why can’t they invest on technology to better the customer relationship? I’m starting to think that they scam each person who signs up for $1000 and that’s how they earn their money…
Even their email link within the account links incorrectly. I think they’re a bunch of highschoolers trying to make a website and a company…. sheesh

Fabulous Financials v2.0 » Fab Picks of the Blogosphere: Week 3 (Pingback), 1 February 2008, 9:49

[...] Flexo [Consumerism Commentary] asked his readers: What’s More Important: High Interest or Customer Service? I’ve had my share of BS banks, so I’m partial to customer service. I work hard for my money; therefore, choosing a bank is about building a relationship, not just chasing the highest interest rate. And yes, I do put my money where my mouth is - see my experience with Bank of America and One United. [...]