Live Oak Bank

MJ

Often if things sound to good to be true, they are. Live Oak appears to be a good bank with great savings rates. My experience is that may be true if you do not need to put money in or take money out of the account. May work for small amounts but it is very difficult to transfer or retrieve larger sums of money. They have long hold times for your money that were not initially disclosed. Also, I received different answers to the same question multiple times when I called customer service. They generally answer calls quickly and you actually talk to a live person which is great but getting incorrect information multiple times is very frustrating. Save time and frustration and go with a different bank. I have given you every opportunity to resolve the problems but just get more of the same.

David Martin

2 years ago I gave Live Oak a try on 2 CD`s. It was all new to me doing this online . I had absolutely no problems with the application and was very happy with the entire process! Today a decided to open another cd with them after being on hold for a ridiculously long time with another online bank that paid slightly higher interest . I called Live Oak and was immediately connected with Kelsey who walked me through the entire process since their online application had changed a bit since my last interaction with them. She was very professional and was able to answer all my questions without hesitation making the new application so easy. Being 74 this type of help is very important to me LOL! There will always be some negative comments on reviews , but I sure give them a top rating ! Thank you Kelsey and Live Oak for your great service and CD product!! ....David Martin

Farhad G.

As a small business owner I can confidently say that Live Oak Bank is not to be trusted. We went through their loan process only to be blindsided and have the loan revoked days before closing. They cited an incomplete environmental report that they had performed. Not only did they revoke the loan, they kept over $30K in fees that I had paid to get the loan closed. Their loan officer sheepishly apologized and took blame privately to me, as they pushed me to pay for additional work that they agreed to reimburse (they did not reimburse me) He was happy to take my side and express his outrage at the situation to me directly (off the record), but cowered and refused to put any real pressure on them to do the right thing and at least partially refund my costs. He was worried about his job security more than anything. Says a lot about the bank, their culture and the loan officer. I will do my best to share this story with all who will listen in my small business community.

HV.

The worst bank I've ever dealt with. If I could give zero stars I would. Out of the blue, I was no longer able to electronically deposit funds into my TDameritrade account due to some restriction they put on my account after I made deposits for over a year, they had no clue what happened. To make matters worse, when I recently closed the account because I was no longer able to transfer funds from it, they never deposited my remaining balance of $1800!! The worst banking experience ever. I still don't know where my money is and they're telling me to contact my other bank as if it's their fault. Do not use them for online banking.