[Expired] [TX] Wellby Financial $100 Checking Bonus

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• @2 Expired. No more mention of any bonus or promotion on the linked page.

• 11/18 Opened
  Real DDs with work
  12/31 bonus paid

• Account opened 12/1, DD posted 12/16, bonus paid 12/30

• Got $100 bonus today. Tried Fidelity, treasury direct, real DD. Not sure which one triggered unfortunately

• I would like someone to find a fee schedule and confirm if there is EATF

  • Found their fee schedule. https://www.wellbyfinancial.com/disclosures/?AccountType=Fees#Fees
    There is no early account closure fee listed.

    However, looking at the terms for the promotion listed on https://www.wellbyfinancial.com/rates-center/deposit-rates-pdf/ , it says "Members with checking account closed within a ninety (90) day period from opening this new checking account are ineligible"
    So you have to keep the account open for 90 days. Not sure if they'd do a clawback.

    Other relevant fees on their schedule-

    Replacing a debit card has $5.00 fee.

    Looks like they might charge a fee that "varies" for pushing out from Wellby too.
    Under Transfers it says "From Wellby to an external banking institution. Applicable fees per transfer."

    They also have a dormancy fee of $10/month after 12 months of no activity, with some exclusions including having $500 in deposits.
    Under Miscellaneous - "May be assessed monthly to membership savings accounts when a member has not initiated activity on any relationship accounts for at least 12 months. A relationship is defined as any account where the account holder has an ownership role. Exclusions: Account holder is an owner on other open products or has relationships other than Savings and Checking accounts. Account holder has more than $500 in relationship deposits. Account holder is under 18 years of age."

    • Can confirm no fee for external transfer per rep

      • Thanks for the confirmation.

    • Appreciate your deep dig here. I’ve done two external transfers out from Wellby but was not assessed a fee right away. I’ll keep an eye on it for next statement or ask a rep.

  • What’s EATF?

    • @guest_1969984 @guest_1969985

      It's an acronym for "Early Account Termination Fee", meaning closing the account before a certain amount of time (ie 6 months).

      • Thanks

  • What’s EATF?

• Thank you for contacting the National Credit Union Administration (NCUA) Consumer Assistance Center. The NCUA is the independent federal agency that regulates, charters, and supervises federal credit unions. The NCUA operates the National Credit Union Share Insurance Fund insuring the deposits of account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA Consumer Assistance Center assists consumers in providing information about federal consumer financial protection and share insurance matters. We also help consumers resolve disputes with credit unions concerning federal consumer financial protection laws and regulations that the NCUA has the authority to enforce. However, the NCUA does not have the authority to resolve every type of problem that may arise with a credit union.

  We appreciate the information you have provided regarding the customer service of JSC Federal Credit Union. We have determined that this matter does not involve a federal consumer financial protection matter. Therefore, the NCUA Consumer Assistance Center is forwarding your concerns to the credit union’s management team and closing our file for your specific complaint.

  Please note that we cannot provide legal advice and our determination in this matter does not limit your ability to pursue a private right of action if one exists. To determine such rights, you may wish to consult with private legal counsel.

  Thank you for bringing this matter to our attention. The NCUA takes the concerns of consumers seriously. Investigating complaints such as these helps us to safeguard consumer rights and promote confidence in our nation's system of cooperative credit. If you have any questions, please contact the NCUA Consumer Assistance Center at 800-755-1030 to speak with a Consumer Affairs Specialist.

  Sincerely,

  The NCUA Consumer Assistance Center

  • I’ve literally called them like fifteen times and they provide no info. I got my $100 deposit back so I’m just gonna move on.

    • To me either- repeatedly called, they claim the fraud dept will get in touch to explain what I did to get shut out, but nobody ever does.

      • I tried logging in today and I was able to get in, like nothing ever happened.

        I’m setting up an external account for transfer before I try to push in a DD

        • tried just now and it seemed like it worked, then went to an error page, i think i'm still sol :(

        • Are you using the app

        • well i'll be. they unlocked me too. i wonder if enough people complained that they had to walk it back (and whether i'll be able to re-open the checking account they closed for no good reason)

        • Who told you it was closed — mine was never closed just “under review”

        • They actually closed my checking a couple days after locking me out online, confirmed by my employer when the dd I’d tried to add was rejected due to “account closed”. I’m guessing they closed the checking since they’d permanently restricted me from all but in-person cash transactions (what can you use a checking account for if you can only put cash in or take cash out in branch anyway?) I only have the basic membership savings now, even though I’m able to access mobile banking again. Gonna wait a few days in case it’s a fluke then try to reinstate/reopen the checking account.

• Any positive DPs for funding with Amex?

  • I used AMEX Blue Business Plus during the application. After I applied, near the end of the back and forth phone conversations to get approval, the rep said that I couldn't fund with my card because they don't accept AMEX. Not sure if other AMEX will work, but that's what they said. I had them change funding to Citi Strata Premier and that went through.

    • Tried AMEX business prime on another account, also didn't go through, changed to Citi DC which went through.

• OOS
  I have ACC membership, but they never asked for it.
  Nov 18th - applied
  Dec 3rd - video chat via secure message and asked about high number of inquiries (my chex is high, prob 12+ this year)
  Dec 4th - account opened and funded with $10,000 CC

  • 12+ is arguably not that high for this crowd. Do you have your Chex stats for the past 1, 3, 6 and 12 months? Was your Chex unfrozen when you applied?

  • Has your CC funding shown up yet?

    • Mine showed up yesterday, but now randomly my available balance is back to 0.

• Still not hearing anything about why my online access was restricted. Supervisor said I was still eligible for the bonus last week and that I could direct deposit. Thinking about going for it while also filing with CFPB

  • Go for it, and please file cfpb- their letter explaining their decision to restrict my access explained nothing and my checking was closed so I can’t even participate in the bonus :( The more complaints they get, hopefully the more likely they’ll be to change their ways.

    • Didn’t realize your account was shut down. I’m afraid if I changed direct deposit I wouldn’t be able to get the money I put in but I’ll definitely file cfpb

• denied 2 days after phone call to explain inquires lol/24