MilesBuzz! - NetBank miles and points bonuses will probably disappear very soon

NetBank's deposit accounts will be acquired by Everbank very soon. Since Everbank does not offer miles or points for accounts, I advise grabbing NetBank miles deals now before they disappear. I know only what the Everbank press release (http://www.everbank.com/004Press.aspx) says.

You can find the NetBank offers in the Banks section of the Finance page of my website below.

In the plus column, the likelihood of NetBank going belly up has been greatly diminished. ^

Until recently, I had been having my Mom pull her money out of NetBank as her CDs reached maturity.

Dealing with Netbank was one of the worst experiences I've ever had in trying to get my points I had earned. It took repeated emails and phone calls over many many months to finally receive the points. It was like pulling teeth! I closed my account. I knew that outfit would not last very long until a buyout or merger. I'm glad my money is out of there. Maybe others didn't have such a bad experience.

Dealing with Netbank was one of the worst experiences I've ever had in trying to get my points I had earned. It took repeated emails and phone calls over many many months to finally receive the points. It was like pulling teeth! I closed my account. I knew that outfit would not last very long until a buyout or merger. I'm glad my money is out of there. Maybe others didn't have such a bad experience.

I fully agree. I bit on one of their initial promotions (8,000 HH points), and eventually left the battle bruised, wounded and with only 4,000 points. Anything I tried to do with this bank was a hassle, almost everything had a fee attached to it (including closing an account, which I've never encountered at any bank).

This bank gets a royal :td: from me!

I didn't realize Net Bank was in trouble. I don't follow that stuff though I guess I should since I have money with them.

As far as miles go, I received all my United miles quickly and correctly without much of a problem at all. I think it took one phone call for a portion that was initially not posted. As far as their banking goes, I haven't had any problems at all.

...Anything I tried to do with this bank was a hassle, almost everything had a fee attached to it (including closing an account, which I've never encountered at any bank)...
I'd banked with Netbank for years. When I learned it's in trouble, I closed all my accounts with Netbank back in the spring without any fee. I don't recall I ever paid any fee with anything I did with Netbank over the years. I got free online billpay, free transfers, free 1st box of checks and deposit slips, free deposit envelopes.. etc.

What fees are you talking about? :confused:Were your accounts open for at least 180 days?

I recalled reading the fees disclosures from all the banks I do business with (Citi, BOA, Chase, Bank Direct, Guaranty Bank, WAMU...) that account closure fees would only apply to accounts less than 180 days.

I'd banked with Netbank for years. When I learned it's in trouble, I closed all my accounts with Netbank back in the spring without any fee. I don't recall I ever paid any fee with anything I did with Netbank over the years. I got free online billpay, free transfers, free 1st box of checks and deposit slips, free deposit envelopes.. etc.

What fees are you talking about? :confused:Were your accounts open for at least 180 days?

I recalled reading the fees disclosures from all the banks I do business with (Citi, BOA, Chase, Bank Direct, Guaranty Bank, WAMU...) that account closure fees would only apply to accounts less than 180 days.

Yes, the account in question was opened less than 180 days. When I heard of this fee, I simply kept it open another 30-45 days.
Still, I found them difficult to do business with. Most requests had to be done via their net mail, which I found cumbersome. I had a few other issues with them I don't recall at the moment, but regardless, the bank did not leave me with a great taste in my mouth.

I was just thinking of trying to score some Marriott points through NetBank. I went to http://www.netbank.com/marriott and the promo is still there. But then I thought I'd check Marriott's other financial partners to see if there was a better deal. Lo and behold, NetBank is no longer listed as a Marriott partner on Marriott's website.

With that, I'm a little hesitant to even make the effort with NetBank at this point. Some of the posts above don't encourage me either.

i opened an account about a month ago but since the US Air promotion requires a minimum balance of $500 for 6 months, i fear i won't be getting my miles. :(

i guess if everbank takes it over though, i can close the account without a fee!

i opened an account about a month ago but since the US Air promotion requires a minimum balance of $500 for 6 months, i fear i won't be getting my miles. :(

i guess if everbank takes it over though, i can close the account without a fee!

Wouldn't Everbank be legally obligated to honor this? Isn't this part of a binding agreement?

I'm counting on using NetBank's ATM card during a trip to Europe late Aug.-early Sept. Should I worry about the card being invalidated? It looks like the takeover is behind schedule as announced.

I'll need to look in more detail at Everbank's T & C's to see if it's worth staying. I see there's a monthly fee for electronic bill pay if your balance goes under a minimum average. I just use it for credit card payments; if I set them up through the card sites rather than the bank site, do I avoid this fee?

I checked their fee schedule and I didn't really see anything in the way of fees for most of the simple tasks associated with checking accounts...also, the account closure fee, while silly, is only 7.50...which isn't too bad for 5k miles is it? I have no doubts that they are probably sketchy and a pain to deal with, but I may give it a go...

I checked their fee schedule and I didn't really see anything in the way of fees for most of the simple tasks associated with checking accounts...also, the account closure fee, while silly, is only 7.50...which isn't too bad for 5k miles is it? I have no doubts that they are probably sketchy and a pain to deal with, but I may give it a go...

I signed up with them about a year ago and have kept the accounts open and in use. I have never had a problem with them and they have been helpful with the small issues I did have (issues that were not their fault). I'm not sure if there will be changes with the new ownership coming up though.

EverBank called off the deal to aquire NetBank's deposits yesterday. They stated in their press release they were prepared to complete the deal, but NetBank failed to conform with the terms of the deal.

NetBank was delisted from trading a month ago. Their shares now trade on the pink sheets for about 8 cents. So if you want to buy a bank you could own this puppy for about $5,000,000.

Anyone want to buy a bank?

EverBank called off the deal to aquire NetBank's deposits yesterday. They stated in their press release they were prepared to complete the deal, but NetBank failed to conform with the terms of the deal.

NetBank was delisted from trading a month ago. Their shares now trade on the pink sheets for about 8 cents. So if you want to buy a bank you could own this puppy for about $5,000,000.

Anyone want to buy a bank?

Hmm, maybe it's time to transfer my account to my other bank. I seem to choose banks based strictly by the miles they will give me.:D

FYI, Netbank was shut down today (9/28/07) and was taken over by FDIC. My CDs with them expire in two weeks:mad:

WJ

This morning, I checked my Netbank balance as I was going to either close it or withdraw most of my money. This afternoon, the website only had FDIC information.

They said checks will clear. Therefore, I'll write that check.

ING Direct is taking over. Funny, I just opened an ING account to get th e$25 bonus.

FYI, Netbank was shut down today (9/28/07) and was taken over by FDIC. My CDs with them expire in two weeks:mad:

WJ

FDIC doesnt take over. FDIC is just an insurance depositary company and a self regulating body (private corporation). OTS takes over, fyi.