Comments on: NetBank Joins The Deadpool http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/ Startup and Technology News Wed, 11 Nov 2009 03:20:39 -0800 hourly 1 By: RuddigerPez http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-2777450 RuddigerPez Mon, 01 Jun 2009 18:02:30 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-2777450 I hope everyone working for NetBank lost their life savings, starved, then died. The whole housing/financial sector can get fucked. I hope everyone working for NetBank lost their life savings, starved, then died. The whole housing/financial sector can get fucked.

]]> By: www.topcreditcardsadvice.info » Comment on NetBank Joins The Deadpool by JM http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1706937 www.topcreditcardsadvice.info » Comment on NetBank Joins The Deadpool by JM Sun, 28 Oct 2007 17:44:45 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1706937 [...] JM added an interesting post on Comment on NetBank Joins The Deadpool by JM.Here’s a small excerpt:I had lots of trouble opening new accounts with various banks because now it seems they pull your credit history and hold minimum credit score against you and I kept getting declined. Well Fnbo direct was the first that approved me, … [...] [...] JM added an interesting post on Comment on NetBank Joins The Deadpool by JM.Here’s a small excerpt:I had lots of trouble opening new accounts with various banks because now it seems they pull your credit history and hold minimum credit score against you and I kept getting declined. Well Fnbo direct was the first that approved me, … [...]

]]> By: JM http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1705901 JM Sun, 28 Oct 2007 03:31:52 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1705901 I took out my Netbank cd's. What you do is send a Bankmail and wait 5 or more days for a reply. They put the money in my netvalue checking as I asked. Then I opened a savings account with fnbo direct, and wrote a check for 30 thousand. fnbo is giving 5.05apy and easy access to my money. I don't like ing as there rates are low and stuff like how much money they waste on advertising and fancy buildings. I had lots of trouble opening new accounts with various banks because now it seems they pull your credit history and hold minimum credit score against you and I kept getting declined. Well Fnbo direct was the first that approved me, so here is my 30 thousand. I took out my Netbank cd’s. What you do is send a Bankmail and wait 5 or more days for a reply. They put the money in my netvalue checking as I asked. Then I opened a savings account with fnbo direct, and wrote a check for 30 thousand. fnbo is giving 5.05apy and easy access to my money. I don’t like ing as there rates are low and stuff like how much money they waste on advertising and fancy buildings. I had lots of trouble opening new accounts with various banks because now it seems they pull your credit history and hold minimum credit score against you and I kept getting declined. Well Fnbo direct was the first that approved me, so here is my 30 thousand.

]]> By: Patrick http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1672451 Patrick Fri, 12 Oct 2007 19:13:14 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1672451 I was a NetBank customer since 2000 ... I loved their service. I never had any issues with spammers, the website interface was easy, customer service very helpful on the rare occasions I needed to call, and best of all: There was no need for brick-n-mortar bank -- I never had to go into a bank and could handle everything I possibly needed to handle online. I've had accounts in other banks during the same timeframe, but none were as easy as NetBank's interface, and eventually put all my $$ into NetBank accounts. I've now transferred my $$ to another institution. I hope I find their service as useful. Au revoir, NetBank! I was a NetBank customer since 2000 … I loved their service. I never had any issues with spammers, the website interface was easy, customer service very helpful on the rare occasions I needed to call, and best of all: There was no need for brick-n-mortar bank — I never had to go into a bank and could handle everything I possibly needed to handle online. I’ve had accounts in other banks during the same timeframe, but none were as easy as NetBank’s interface, and eventually put all my $$ into NetBank accounts. I’ve now transferred my $$ to another institution. I hope I find their service as useful. Au revoir, NetBank!

]]> By: John http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1657674 John Thu, 04 Oct 2007 01:05:07 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1657674 I had 118 grand in netbank and was a long time customer. Now I am trying to get my money from the bank. No wires out (even though they said you could) I talked to a FDIC rep today and they said only thing i could do is write a check to get my money out. What a bunch of crap. I wated 2 days for the wire to clear and finaly after a half hour wait I got that answer. We with over the 100,000 got a 50% dividend on the excess but like I said I have yet to find a way to get my money other then a check.... which I don't even have. I had 118 grand in netbank and was a long time customer. Now I am trying to get my money from the bank. No wires out (even though they said you could) I talked to a FDIC rep today and they said only thing i could do is write a check to get my money out. What a bunch of crap. I wated 2 days for the wire to clear and finaly after a half hour wait I got that answer.

We with over the 100,000 got a 50% dividend on the excess but like I said I have yet to find a way to get my money other then a check…. which I don’t even have.

]]> By: Zoli's Blog http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1654493 Zoli's Blog Mon, 01 Oct 2007 21:22:26 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1654493 <strong>Netbank: Online Banking goes Offline. Permanently....</strong> If you think sub-prime mortgage defaults can’t effect you, think again.   At first reading, I thought this was a bad joke: The Office of Thrift Supervision closed down NetBank Inc. (NTBK) a thrift with $2.5 billion in assets, and appoin... Netbank: Online Banking goes Offline. Permanently….

If you think sub-prime mortgage defaults can’t effect you, think again.   At first reading, I thought this was a bad joke:
The Office of Thrift Supervision closed down NetBank Inc. (NTBK) a thrift with $2.5 billion in assets, and appoin…

]]> By: Tom http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1654081 Tom Mon, 01 Oct 2007 15:15:39 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1654081 I liked Netbank although their interest rates weren't as good as others offered. Netbank was my primary and my paycheck is direct deposited there. However I kept most of my funds at ING because of the stability and higher interest although the interest at ING isn't as high as others. Case in point is a little bank called igoBanking. I opened an account there and they refused to link to other accounts I had elsewhere unless I agreed to their terms for the billpay service. Which I refused. So my money is earning 5.25% but I can't access it easily. I hope igoBanking dies a miserable death like Netbank. R.I.P. Netbank Don't have any fears of ING they are a great service. I liked Netbank although their interest rates weren’t as good as others offered. Netbank was my primary and my paycheck is direct deposited there. However I kept most of my funds at ING because of the stability and higher interest although the interest at ING isn’t as high as others. Case in point is a little bank called igoBanking. I opened an account there and they refused to link to other accounts I had elsewhere unless I agreed to their terms for the billpay service. Which I refused. So my money is earning 5.25% but I can’t access it easily.

I hope igoBanking dies a miserable death like Netbank.

R.I.P. Netbank

Don’t have any fears of ING they are a great service.

]]> By: Pauly http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1653981 Pauly Mon, 01 Oct 2007 13:14:40 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1653981 I have been a long time Netbank user and found their web interface intuitive and easy to use. Never had a spamming problem nor did I get nickled and dimed like other banks. Sorry to see them go. I have been a long time Netbank user and found their web interface intuitive and easy to use. Never had a spamming problem nor did I get nickled and dimed like other banks. Sorry to see them go.

]]> By: Tom Markiewicz http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1653208 Tom Markiewicz Mon, 01 Oct 2007 01:37:35 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1653208 <strong>NetBank closes after failed deal...</strong> Wow, talk about good timing. I just closed my accounts at NetBank two weeks ago and moved them to EverBank. Now I see that NetBank has officially shutdown. NetBank has steadily declined over the years, but I had been with them so long (7 years) it jus... NetBank closes after failed deal…

Wow, talk about good timing. I just closed my accounts at NetBank two weeks ago and moved them to EverBank. Now I see that NetBank has officially shutdown.

NetBank has steadily declined over the years, but I had been with them so long (7 years) it jus…

]]> By: dweezel http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1653041 dweezel Sun, 30 Sep 2007 22:12:42 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1653041 Really puts a hitch in Lending Club and Prosper's goals to supplant the banks. This is why regulation is a good thing -- without the FDIC, all of NetBank's customers would have been left in the dark. Really puts a hitch in Lending Club and Prosper’s goals to supplant the banks. This is why regulation is a good thing — without the FDIC, all of NetBank’s customers would have been left in the dark.

]]> By: ben tuckerr http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1652832 ben tuckerr Sun, 30 Sep 2007 16:58:11 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1652832 luckily I closed my account there awhile ago after discovering they violated their privacy policy and sold my email address to spammers. luckily I closed my account there awhile ago after discovering they violated their privacy policy and sold my email address to spammers.

]]> By: Neil J. Squillante http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1652803 Neil J. Squillante Sun, 30 Sep 2007 16:26:37 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1652803 I looked at NetBank, but thankfully chose eTrade. I looked at NetBank, but thankfully chose eTrade.

]]> By: exNetbankCustomer http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1652745 exNetbankCustomer Sun, 30 Sep 2007 14:52:04 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1652745 I topped out a 3%ish NetBank MM account when the rest of the banking world dropped to 0.40%/yr interest rates. I closed my account when NetBank dropped their interest rate to match other banks. I topped out a 3%ish NetBank MM account when the rest of the banking world dropped to 0.40%/yr interest rates. I closed my account when NetBank dropped their interest rate to match other banks.

]]> By: cweeb http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1652740 cweeb Sun, 30 Sep 2007 14:40:40 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1652740 to #5, to there big advantage was better integration with another pair of dinosaurs ? ie Quicken and Money ???? to #5, to there big advantage was better integration with another pair of dinosaurs ? ie Quicken and Money ????

]]> By: Mac Lender http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1652739 Mac Lender Sun, 30 Sep 2007 14:40:36 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1652739 Wow I'm flabbergasted I this is the first I have heard of it, Netbank is my primary bank! I was also a user of CompuBank, Net bank acquired them in 2002 I think. I'm allready a ING user so hopefully I can just get my accounts combined.. Wow I’m flabbergasted I this is the first I have heard of it, Netbank is my primary bank! I was also a user of CompuBank, Net bank acquired them in 2002 I think. I’m allready a ING user so hopefully I can just get my accounts combined..

]]> By: John http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1652723 John Sun, 30 Sep 2007 14:07:33 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1652723 I have been a long time NetBank customer. They had great service and none of the nickle and dime fees that most banks have. I actually left them last year for another bank and then returned only about 2 months later because I was not as happy with the other bank. I knew they were trying to sell out to EverBank and I heard that deal fell through, but I had no idea they were about to close down. Thanks to the FDIC for insuring my money. I had no glitches over the weekend - ATM/check card works, no bounced checks, bill payments still working, etc. It will be interesting to see how ING works out. I have been a long time NetBank customer. They had great service and none of the nickle and dime fees that most banks have. I actually left them last year for another bank and then returned only about 2 months later because I was not as happy with the other bank. I knew they were trying to sell out to EverBank and I heard that deal fell through, but I had no idea they were about to close down. Thanks to the FDIC for insuring my money. I had no glitches over the weekend – ATM/check card works, no bounced checks, bill payments still working, etc. It will be interesting to see how ING works out.

]]> By: jessup http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1652717 jessup Sun, 30 Sep 2007 14:03:09 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1652717 Customers with over 100k in their Netbank accounts will not lose the excess. They'll become Tier 1 receivers when the FDIC sells the assets that they took over from NetBank. So any regular depositors will be paid upon the sale of NetBank assets before any lawyers, accountants, and everyone else waiting in line. On some occassions, the FDIC will insure an additional 50% of deposits over $100k. NetBank customers will know on Sunday at 5pm EST, according to ING Direct. Customers with over 100k in their Netbank accounts will not lose the excess. They’ll become Tier 1 receivers when the FDIC sells the assets that they took over from NetBank. So any regular depositors will be paid upon the sale of NetBank assets before any lawyers, accountants, and everyone else waiting in line.

On some occassions, the FDIC will insure an additional 50% of deposits over $100k.

NetBank customers will know on Sunday at 5pm EST, according to ING Direct.

]]> By: Sufiy http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1652636 Sufiy Sun, 30 Sep 2007 11:45:19 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1652636 Google will be next victim: http://sufiy.blogspot.com/search?q=Google Google will be next victim:

http://sufiy.bl...search?q=Google

]]> By: Steve Hu http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1652428 Steve Hu Sun, 30 Sep 2007 06:33:51 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1652428 There are over 1500 customers who have deposits in excess of the FDIC insurance! http://netbankcustomer.blogspot.com/ There are over 1500 customers who have deposits in excess of the FDIC insurance! http://netbankc...r.blogspot.com/

]]> By: Zoli Erdos http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1652365 Zoli Erdos Sun, 30 Sep 2007 05:05:23 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1652365 Duncan, I wouldn't compare Netbank to mashups whose business disappears when the majors make their move. First, Netbank's business model was innovatitve not only back in the 90s but even today. They offer(ed) a better web experience and more seamless integration with Quicken and MS Money than the "biggies". I've been an <a href="http://www.zoliblog.com/2007/09/28/netbank-online-banking-goes-offline-permanently/" rel="nofollow">early NetBank customer</a>, and am also using Citi, and the difference  is day and night. I don't even have to use NetBank's web site, payments, transfers, etc. are all done directly from MS Money (or Quicken).  That's from the user prospective, but of course the big part in the business model is being "brickless". There was nothing wrong with *that* part of the business.  The problem was getting into the shaky sub-prime mortgage lending - something that has nothing to do with the  Web-only aspect of this bank. Many smaller traditional outfits did the same, and some alreday have collapsed, they just did not become major news, since they were not retail banks at the same time.  The mortgage crisis is hitting the US, and this is just the beginning :-( Duncan, I wouldn’t compare Netbank to mashups whose business disappears when the majors make their move.

First, Netbank’s business model was innovatitve not only back in the 90s but even today. They offer(ed) a better web experience and more seamless integration with Quicken and MS Money than the “biggies”. I’ve been an early NetBank customer, and am also using Citi, and the difference  is day and night. I don’t even have to use NetBank’s web site, payments, transfers, etc. are all done directly from MS Money (or Quicken).  That’s from the user prospective, but of course the big part in the business model is being “brickless”.

There was nothing wrong with *that* part of the business.  The problem was getting into the shaky sub-prime mortgage lending – something that has nothing to do with the  Web-only aspect of this bank. Many smaller traditional outfits did the same, and some alreday have collapsed, they just did not become major news, since they were not retail banks at the same time.  The mortgage crisis is hitting the US, and this is just the beginning :-(

]]> By: Fabian Schonholz http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1652362 Fabian Schonholz Sun, 30 Sep 2007 05:02:42 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1652362 It is always sad to see a company, any company, go into the deadpool. But at the same time it is necessary. It is the natural recycling of business and people running those extinct businesses. It also provides room for new comers to try the same old idea but with new energies and approaches. Sometimes is not the idea which is not correct, but the approach and execution. Good luck to the folks at NetBank. I hope you all landed on your feet. It is always sad to see a company, any company, go into the deadpool. But at the same time it is necessary. It is the natural recycling of business and people running those extinct businesses. It also provides room for new comers to try the same old idea but with new energies and approaches. Sometimes is not the idea which is not correct, but the approach and execution.

Good luck to the folks at NetBank. I hope you all landed on your feet.

]]> By: Jack G http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1652360 Jack G Sun, 30 Sep 2007 04:57:32 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1652360 "Existing NetBank accounts have been acquired by ING Direct" But I think that anyone with more than 100k (therefore uninsured by the Feds) will lose anything over the 100k limit. Not good if you were one of those. Wonder if there were any accounts at that level? “Existing NetBank accounts have been acquired by ING Direct”

But I think that anyone with more than 100k (therefore uninsured by the Feds) will lose anything over the 100k limit. Not good if you were one of those. Wonder if there were any accounts at that level?

]]> By: surprise http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1652350 surprise Sun, 30 Sep 2007 04:43:01 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1652350 Even the name sounded WEB 1.0 Even the name sounded WEB 1.0

]]> By: Steve Ballmer http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/comment-page-1/#comment-1652339 Steve Ballmer Sun, 30 Sep 2007 04:30:13 +0000 http://www.techcrunch.com/2007/09/29/netbank-joins-the-deadpool/#comment-1652339 Hope you guys got your money out in time! I did Hope you guys got your money out in time!
I did

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