I recently tried to open an account with Applied Bank in an effort to keep my reimbursible business expenses separate from my personal expenses. When I applied for an account with Applied Bank, they were very eager to get my money. They sent regular emails to remind me to make my initial deposit, and gave plenty of options for sending them the money, highlighting that sending secured funds by wire transfer through MoneyGram would be the fastest way to open my account and have a card sent, which is what I ultimately chose to do. A few days after wiring them the money, I called to make sure they received my deposit, only to be told that they cannot open my account because I used my business address instead of my home address, and I am unable to provide a lease or utility bill in my name for my employers address (a 3 billion dollar company), which naturally was never disclosed prior to them taking my money. If they don't want my business, that is fine, but despite the fact that they received my money immediately in secured funds, they're telling me that they will return my money in 30 days. It strikes me as odd that they can get away with this. Odder still is that they chose to communicate with me instantly by email in an effort to get my money, but to tell me what hoops I have to jump through to get my money back, they choose to communicate with me by snail mail, which I have yet to even receive. Is that what banks have been reduced to these days? Suckering unsuspecting "customers" into sending in their hard-earned money so the bank can sit on it for a month or so to collect interest and eventually return it to the sucker they've stolen it from without paying them the interest they've accrued or providing them with any benefit for having trusted them with their money. It's clear to me they're just out to make a buck on the backs of American consumers- which I suppose has become the American way- especially in banking. If you're serious about protecting your money, and think you should have unrestricted access to the money you've earned, I urge you not be a sucker like me. Don't send your money to Applied Bank!
I recently tried to open an account with Applied Bank in an effort to keep my reimbursible business expenses separate from my personal expenses. When I applied for an account with Applied Bank, they were very eager to get my money. They sent regular emails to remind me to make my initial deposit, and gave plenty of options for sending them the money, highlighting that sending secured funds by wire transfer through MoneyGram would be the fastest way to open my account and have a card sent, which is what I ultimately chose to do. A few days after wiring them the money, I called to make sure they received my deposit, only to be told that they cannot open my account because I used my business address instead of my home address, and I am unable to provide a lease or utility bill in my name for my employers address (a 3 billion dollar company), which naturally was never disclosed prior to them taking my money. If they don't want my business, that is fine, but despite the fact that they received my money immediately in secured funds, they're telling me that they will return my money in 30 days. It strikes me as odd that they can get away with this. Odder still is that they chose to communicate with me instantly by email in an effort to get my money, but to tell me what hoops I have to jump through to get my money back, they choose to communicate with me by snail mail, which I have yet to even receive. Is that what banks have been reduced to these days? Suckering unsuspecting "customers" into sending in their hard-earned money so the bank can sit on it for a month or so to collect interest and eventually return it to the sucker they've stolen it from without paying them the interest they've accrued or providing them with any benefit for having trusted them with their money. It's clear to me they're just out to make a buck on the backs of American consumers- which I suppose has become the American way- especially in banking. If you're serious about protecting your money, and think you should have unrestricted access to the money you've earned, I urge you not be a sucker like me. Don't send your money to Applied Bank!
