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adam d
adam d

after 6 weeks got the rejection email due to identity verification lol. whateve,r will just throw this in short term t bills. GL to anyone who got the 5% if not, this place seems fubar imo. maybe wait for the fdic insurance to kick in to get ur sub 250k eta 2months haha

Glenn Welt

Having had accounts at 68 DIFFERENT BANKS & CREDIT UNIONS in my life, I may have become an expert on good and bad services. Here is why I’ve given Primis 4 stars:
1. Interest rate. Like many who have recently complained about being able to reach someone by phone, when I found their offer of 5.03% APY, I tried to get an agent on the phone. Wait times were insane so I gave up.
2. Decided to see what Primis application process was like AND hoped it would reveal the answer to some of my questions. I was VERY pleasantly surprised at how easy & fast the process was. IMHO, Primis has THE BEST online application system I’ve ever used. The presented documents DID answer all my questions.
3. Funding. One of my biggest gripes with ALL previous banks has been their limits on ACH transfers in and out. Primis has NO LIMITS, meaning you can have as many linked banks as you want and transfer $millions if you want in or out.
4. Interest payments. This is one area I wish Primis would change. Instead of posting interest at the end of the month like EVERY other financial institution I’ve experienced, they do it on the 15th of each month. I’ve asked if this can be changed. As of today, NO RESPONSE.
5. The banks database being used by Primis for linked accounts is NOT the best. I linked another bank account using correct ABA 9 digit routing code but Primis shows a bank name that no longer exists due to mergers years ago.
BOTTOM LINE: Primis isn’t perfect and neither are any of us. However, offering the best interest rate and best ACH system is why I rate Primis 4 out of 5 stars and will keep a sizeable amount in my Primis account unless these things change.

Randy
Randy

Do you work for them as a shill or……?

I have a long history of Banking experience as well and based on my experience and others on DoC, I vehemently disagree.

1) NEVER have I been rejected for ANY application for anything, always have had instant approval except for this Bank.
2) NON-EXISTENT communication via telephonically or otherwise.
3) ACH Millions in & out…. LOL Given the unrealized losses ALL Banks currently have you are a FOOL if you keep ANY amount over the FDIC limits at ANY bank.
4) NO Zelle

After the four listed above, your assessment is a non sequitur.

Rad
Rad

FDIC limits can be easily millions. 250K individual account. Another 250K joint account. For each named beneficiary on a POD account another 250K, so say you add two beneficiaries, that’s 500K for that account alone. Total already 1M FDIC limit over three accounts at one bank.

Rad
Rad

You are partly wrong about Primis initiated ACH transfers in and out. While there are indeed no transaction size limits (in or out, you can easily move a few 100Ks per day in or out), there IS a hard limit of maximum 10 linked accounts. No way around it. And, you cannot name your linked accounts, it just displays the last 4 digits of each and not even the bank name or anything else that may help; that is a problem if you don’t memorize your account numbers, and even more so a problem if two different accounts happen to have same or similar last four digits.

Jon Banks
Jon Banks

Is there anyone who previously had Primis before the rate of 5.03%, who had their rate increased to 5.03% and it stuck? Curious if this was only a promotional rate for new accounts. Considering taking the plunge with the current 4.35% and hoping it will go up again.

Rad
Rad

The rate has went up frequently. Likely to go up for all along with the fed again.

Tony
Tony

They honored 5.03% for me and it still shows that rate.

Randy
Randy

So with perfect long history credit, lots of cash & other assets, as requested sent them picture of my REAL ID Drivers License, sent them a picture of my ORIGINAL ISSUED Social Security Card from mid 1960… they can’t verify me after 30 days! LOL

And NO there are no negatives on ANY reporting agencies…. Obviously they randomly don’t process applications.

Their loss, after reading the debacles others have posted, I didn’t plan on putting the max money in their bank.

Dear Randy,

We are unable to move forward with your Primis Bank account application. Your application has been rejected due to Identity Verification Rejected.

Our decision may have been based in whole or in part on information obtained in a report from the consumer reporting agency or agencies listed below. You have a right under the Fair Credit Reporting Act to know the information contained in your file at the consumer reporting agency. The reporting agency played no part in our decision and is unable to supply specific reasons why we have denied your request. You also have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency.

E-Funds
Attn: Consumer Relations
7805 Hudson Rd Suite 100
Woodbury, MN 55125
1-800-428-9623

If you have any questions about your application, or if you feel this is in error, please contact Customer Service at 833-969-3992.

Thank you,
Primis Bank

Daniel
Daniel

What debacles.. haven’t had any problems with them at all. I think they honestly just got too many applications so they aren’t accepting everyone now.. snooze you lose I guess.

Rorororo
Rorororo

I applied on 2/15 and was approved in 6 days. Today 3/15, I received my first interest payment. No problems so far.

CC
CC

Applied on 2/13 night for the checking account, pending review till now still no update. This is the slowest bank I ever experienced :-(. Funny thing is I did receive the email from their CEO on 3/13/23 to assure their customers that Primis Bank is doing well, even if I am not able to open the account yet.

Mufmuf
Mufmuf

I was waiting for a couple of weeks after the application was sent and I did not receive any email 9asking additional info, etc.) unlike some of the posters. I did a chat and was able to make the process a lot faster. My account was open while or right after the chat session. You just need to find a time when there are not many people waiting, which may be a bit challenging.

Randy
Randy

Welcome to my World.

Also, I’ve never not had an account opened INSTANTLY until Primis, as I have perfect, very long credit history & a lot of assets cash & otherwise; BUT, you missed the BEST part of the CEO’s email:

“We work 24 hours a day, helping customers when and where they need it.” Our team will go to whatever lengths necessary to safely protect the financial health of our customers. Please reply directly to this email if you would like more information on Primis Bank.

Thank you for your continued business and your trust.

Dennis Zember
President and CEO, Primis Bank

My experience with Primis is ALMOST as abysmal as Citibank, which froze $200k of my money for TWO and HALF WEEKS after I called to ask how to wire out. Great way to treat a GOLD customer.

DP, NEVER ask questions at Citi unless you want the Phillipines to screw your account up! Further, I’ve had to make NUMEROUS calls over 6 weeks to try to get my Bonus which is due. Too long a story to write which is easiest sized up as a supreme ClusterF NIGHTMARE!

AVOID Citibank at all costs unless you are a masochist!!!

Do I still want Primis…. not really but just want them to go through the hoops at this point. Don’t and won’t trust putting much money there after reading others stating not being able to access there funds as there is NO CUSTOMER SUPPORT at all.

You can get the very close to the same interest elsewhere and or T-Bills.

Rad
Rad

CS is pretty good. Usually readily available via chat. Except during night when they are sleeping and no one is logged on chat on their end, despite them claiming that it’s 24×7.

Emails and web form, however, and even letters sent by mail, they outright ignore and don’t respond to, ever, not even a month+ later.

CC
CC

Haha that explains. Last night around midnight PST, I tried to do online chat, thought I might not have to wait for long. Surprisingly the message says all agents are busy. Waited for 30 minutes and gave up.

Daniel
Daniel

Citibank is awful but my experience at Primis has been excellent

Daniel
Daniel

It’s a small bank and they got overwhelmed by all the applications probably more than they planned for. When I opened account months ago it was immediate approval though and still have the 5% rate locked in.

Ricki
Ricki

Daniel My online, out-of-state application for a Primis Premier Checking account was instantly approved. There was evidently no human intervention involved in the approval of my application. Since they are evidently processing online applications automatically, it seems unlikely that they would suddenly become overwhelmed by the volume of applications.

Their FAQ do indicate that some applications might require additional information. I suppose some applicants have shady backgrounds.

Only the squeaky wheel calls out for oil.

Alex
Alex

After 27 days since I applied for a savings account I received the following email message:

Dear ***,

We are unable to move forward with your Primis Bank account application. Your application has been rejected due to User was unable to be verified based upon the information provided.

Our decision may have been based in whole or in part on information obtained in a report from the consumer reporting agency or agencies listed below. You have a right under the Fair Credit Reporting Act to know the information contained in your file at the consumer reporting agency. The reporting agency played no part in our decision and is unable to supply specific reasons why we have denied your request. You also have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency.

E-Funds
Attn: Consumer Relations
7805 Hudson Rd Suite 100
Woodbury, MN 55125
1-800-428-9623

If you have any questions about your application, or if you feel this is in error, please contact Customer Service at 833-969-3992.

Thank you,
Primis Bank

Gadget - Bank Bonus Geek 🔗

ChexSystems is owned by the eFunds subsidiary of Fidelity National Information Services, Inc. (FNIS).

Penny

I got the same email as Alex after 3 days of applying. I’ve checked my Chexsystems and I don’t even see Primis on my report. Wondering why I got denied now.

Gadget - Bank Bonus Geek 🔗

Probably clearing their backlog and just using it as a blanket excuse.

Daniel
Daniel

Yeah I agree they just got too many and they’re rejecting a lot of them now without even processing them most likely

ritholtz
ritholtz

I opened some time during Feb,23. I did not receive Feb interest. Are they going to pay interest after 30days instead of calendar month.

jp P thoms
jp P thoms

Interest posts on the 15th of the month so not calendar month.

ritholtz
ritholtz

Thanks for the information.

Frito Pendejo
Frito Pendejo

finally got this: “We are unable to move forward with your Primis Bank account application. Your application has been rejected due to User was unable to be verified based upon the information provided.”

Ricki
Ricki

ACH Transfer Limits.

There’s no limit on pulls, but there’s a 3-day hold (not a 2-day hold). The day you request the pull, the pulled amount is credited to your current balance and starts earning interest, but is not credited to your available balance until 11:59pm ET of the 2nd day after the day of the pull. “Day” means business day.

The push limit is $30,000 per transaction (not per day), subject to a limit of $100,000 per 30-day rolling period.