Review on NRW.BANK by Kevin Dow
NRW BANK is my primary Institution because I Hate Fees
I've been an NRW Bank money market checking/online savings/CD customer for a few years (longer than any other institution since rates have been declining). They have always been in the top 5% of those paying the most interest. Although I have moved money away from them for short periods when other banks offer more, their consistency has brought me back when the special rates vanished.
When a CD matured recently, I called and asked them to transfer it to my NRW Bank savings account, as I planned to use the money in the next few weeks. The customer service rep offered up their no penalty CD, which paid more than their checking or savings. It could be closed after 6 days with just a call, so I said okay (after looking at ALL the details on their website). They also offered a .25% interest rate bonus to keep the CD with them. When I called to close it a few weeks later, they were more than accommodating, and it was moved to my checking account promptly.
I also like the fact that they give you a rebate for all ATM charges at the end of each month, and there are no fees for their checks or for maintaining your account. The only thing I have to watch out for is the 6 withdrawals per month limitation, which is not problem for me.
Pros
- Great bank, fast ACH
- ATM withdrawals are unlimited
- Offered a .5% loyalty bump on their CD at maturity (after first offering a .25% bump)
- Was also willing to modify the term (from 12 mos to 9 or 6 mos - although I chose to stay with 12 mos).
- Enormous payday loans grounds
- Highly recommended.
Cons
- Fiddly mortgagee brainchild
