You have to understand your financial situation and find the accounts that work best for you. Probably enough for most of us. There is also no limit to the amount you can move in and out of your account though there is a limit to what you can initiate from PerkStreet this goes up over time and is in place to help prevent fraud. We have a Perkstreet account and love it! We highly recommend it!
Glen and friends, Kyle from PerkStreet here. I just wanted to drop in and let you know that we have made some announcements about new features, including a new mobile app and savings account. This announcement came out today. I have a bank account that sounds similar to this! I love the rewards I get from it! My friend form Wienna tell me about this web platform for sexy chat with local ladies — nutten!
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If you have money with them already then your money is safe. This is misleading customers. There is no justification for 3. FYI, BoA lets me use my debit card for several thousand dollars.
In fact, I have never run into a limit. But no, PerkStreet will not let me do so in order to prevent fraud? I beg them to let it go through this one time coz I will have to pay more for tickets otherwise, but PerkStreet will not relent. To prevent fraud! I can put up with this stuff if I am at least told of the restrictions beforehand. The website as well as the phone representative told me that I just had to call in to waive the limit, but when I did call, I was told that the waiver is not guaranteed but will be addressed on a case-by-case basis, and in my case, they can not waive the limit.
Same thing for online transfers. I have patiently verified my external bank accounts by verifying the two small deposits correctly and when I try to move money out, WHAM!
I have three other bank accounts and none of them have such ridiculous limits. As far as I am concerned, PerkStreet makes it very difficult for me to a spend my own money or b to deposit my money into my account, or c to transfer my money from my account. The cashback is not worth it if someday you are slapped with a late fee or lose out on a good deal simply because PerkStreet has decided you have exceeded your spending limit or your transfer limit.
AV- I understand and share your frustration both as a consumer and as an entrepreneur trying to build a better way to bank in a world where the financial infrastructure of the US banking system creates challenges as well as opportunities that are used by fraudsters that as consumers we all end up paying for in the form of increased costs.
To address your points directly: Spend limit: there is not benefit to us to limit your spending as we make money based on the interchange. The only reason to do so is from a fraud management perspective and many banks, including BoA, have used daily limits. We set our limits and clearly disclose them as well as offer customers the ability to call in and request an override.
For PerkStreet we take protecting our customers savings and the customer experience very seriously and do our best to manage the balance between the two. There is definitely room for more innovation in this area and we are working hard on it. I use bill pay to pay my bills, we rely on debit cards to do everything.
Gee whiz guys. While the spending and transfer limits have always bugged me, my recent situation takes the cake. MoneyGram told me it was a 10 minute transaction, I am at the end of day 5 and still no credit to my account. When I asked to speak to a manager, they again quoting policy said it would be 24 hours until someone could talk to me.
This bank is completely bunk. In any event, best of luck, hope you get it figured out. MoneyGram deposits have next business day availability so it is unclear to me why this took so long. Again, my apologies and we will make this right — regard, Jason. Jason, I have made 3 calls this morning and sent an email per your request. You will find I am far from the only person with a problem. Just did a little googling. There are about two others. I personally would stick with them for the fact that they are going to extra lengths to stop fraud if nothing else.
Who do you think the cost of fraud gets passed down to? Scott, I am closing our account, thank you for the sage advice. You are being awfully judgmental about a situation in which you know nothing. If you have more than one child in day care, you are going to exceed their spending limit.
If you would like to give a cash gift to your grandmother on her birthday, you are going to exceed their withdrawal limit. Both of these things have happened to me. No other bank I have had accounts with has ever treated me this way-and how do they do it? My thoughts on that is they need better training. And for you sir, I would say I am glad you are so in love with your bank.
See the first screenshot. But with lower interchange, and no monthly fee note 2 , how can a bank afford such high rewards? PerkStreet perks page link ; 2 Dec To qualify as not satisfied, you must have set up direct deposit within 60 days of account opening, made 10 or more debit transactions per month for six straight months, and have closed your account within eight months of opening.
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