New York Community Bank Savings Accounts

They said I could close my savings online. Do not do that. They have been charging me 5 dollars for 3 months unwarranted because they took 5 dollars out for fees and it’s below 500. So to try and close an account I’ve paid 15 bucks of my hard earned money. It’s now 550 so I won’t be charged in July. Scumbags.

I have been a customer of AmTrust Direct, owned by New York Community Bank, for a couple of years. It's an online-only service. Recently the entire NYCB website were redesigned and featured a number of changes that were only disclosed to me in mail a couple of weeks before the change. I found out through the letter that their external transfer service has been changed. The letter notified me that there is a $3.00 charge per outgoing transfer. Since I'm an online-only customer, it doesn't make sense to me to pay this fee, since I can't walk into a branch and withdraw in person. I called customer service and was told this charge would not apply to me since I'm their online-only customer even though the notification letter never made this distinction. After the website redesign was completed, I tried to process an external transfer and of course, I noticed that the website tells me there is a $3 charge for outgoing transfer. I wrote an email to them and no one responded for a week. In the mean time I have tried multiple times to process external transfer and each time was told of the $3 fee. Then the website went down. So I called customer service again and was told this is a website error, but she can't help me because their system is down so I need to call back. And she said that even though no one has responded to my email, that's it's normal for it to take longer than a week and I should just wait.

I decided to close my Money Market Account with them. Taking over a week to respond to customer email is unacceptable. Disclosure of the changes that took place were poor and not clear. There are easier banks to deal with out there.

I opened up a 5 year CD here when it was Amtrust Direct and got a great rate just before they dropped considerably. Of course, they don't offer the same rates now, but luckily my rates are locked in. The process of transferring money to the CD was simple and efficient. I have never had any trouble viewing my account or talking to someone on the phone if I had any questions. My only complaint, and it's a small one, is that the website seems a little poorly designed. But, once you get the hang of it, it's not a problem. Overall, I'm very happy with keeping my investment here.