4 Aug, 2020 → by ClaimboUser778471
Online bank account interest rate bait and switch
1
After reviewing online banks on bankrate.com, I opened an account with Marcus Bank based upon their 1.05% online bank savings rate. One day later after they received a bank transfer from my checking account, they emailed me that they are reducing my rate to .8%. ONE DAY LATER! While most banks reserve the right to adjust savings rates, I've never heard of a bank changing it the moment they get their hands on your money! Beware of Marcus Bank! Needless to say, I will be transferring my money out of Marcus Bank immediately. User's recommendation: Avoid Marcus Bank.