E-Loan / certificate of deposit
A total rip off avoid at all cost.
In 2016 I tried to open a CD account with them, but because their website was so cumbersome, I decided not to go through with it, they kept sending me emails that please verify the amount of the test deposits so that they can establish the account, which I did not do. But a week later I found out that they had withdrawn the amount from my Bank, so that was when I called them and the fun began. Whenever I called them it became a total frustration.
The people who answer the phone are in Porto Rico and some of them with very poor English. They are not supposed to provide their last name and a manager or supervisor is never available.
The gist of it, that they are not going to be able to return my deposit until it has been there for 3 months. After this I went to my Bank and asked them to get my money back which they did.
Now they sent me a 1099 form for over $100, and I have never received any money from them and naturally I don't have an account with them. Their response is you had an account for a few days and that amount of interest was generated but since the account was closed, they took that as penalty. I told them send me a letter to that effect, he said that we cannot do that over the phone. I have to send them a request in writing.
They are the lowest of the lows, don’t ever deal with them.