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Guy who buys stuff
Guy who buys stuff

Opened 01/15. Bonus posted 04/25. Closed account 05/04. Had to go inside branch (see Rowan comment below) and use super-special withdrawal form. No big deal, just silly that you can’t close via alternate means in zombie apocalypse 2020.

Rowan
Rowan

Heads up if you haven’t already gotten to this point: Columbia Bank apparently has a strange and inefficient policy requiring that all account closures be done in-branch. I tried asking the phone agent if there was any way to make an exception due to the difficulty of getting to the bank these days but he said they just don’t have the authority…

Also, I made the mistake of the pulling out the $2500 I’d been leaving in the account to waive the monthly fee, which of course got charged right away since it was withdrawn on the last day of April. In hindsight I should have at least waited until May 1 to pull out the money and done the 10 debit card transactions or just gotten a check while closing the account. I have a feeling I won’t have much luck getting the banker to waive the $10 fee since they’ll know I’m already out the door.

Jeremy
Jeremy

$500 Opening deposit 9/11/19
$300 bonus posted 12/31/19

Guy who buy stuff
Guy who buy stuff

Business bill pay is $5.95/mo. WTH?

Guy who buys stuff
Guy who buys stuff

Also, you can’t link external accounts for in/out xfers unless you pay for bill pay or pay for ACH services. Admittedly, I signed up for the bonus, but am evaluating for actual long term use… but 3 days in, this account looks like garbage.

BlissfulApathy
BlissfulApathy

Lol. Why else would they offer such a large bonus?

BlissfulApathy
BlissfulApathy

Update:

Columbia is giving me the run-around about my missing bonus. I applied in July, so over 6 months since opening, and over 3 months since fulfilling the requirements. I spoke to the banker who opened the account and was assured of a resolution by the following day. However, it turned out the bank wasn’t even open the next day! So I’m going to contact them on Monday and hopefully get it settled. Although I suspect I’ll be forced to CFPB them since they seem to be dragging their feet.

The only reason I can think of for why I don’t have the bonus is because I did an inbound ACH credit (showed up as direct deposit), not a cash deposit. While the terms never specified that the deposit needed to be cash/check (as is the case with Chase/BoA biz checking promos), it’s possible they’ll use this as an excuse to deny. I only learned of the distinction a few months later when reading about a BoA biz checking bonus. But hopefully this isn’t the problem.

Dubya
Dubya

I used an ACH and got the bonus. Unfortunately you may be out of luck. If a bonus does not post and human set eyes on your account they will see its not a real direct deposit. We get these bonuses with “alternative methods” because most banks use legacy systems that can not tell the difference between a “real” DD and an ACH.

BlissfulApathy
BlissfulApathy

No, for the biz bonus it doesn’t matter if it’s a DD or not – only their personal checking requires DD. What I am concerned about is if they’ll claim a transfer is not the same as a deposit.

Dubya
Dubya

You’re right. btw I just double checked my spreadsheet and I definitely used an ACH.

BlissfulApathy
BlissfulApathy

Cool, I should be good then in any case.

BlissfulApathy
BlissfulApathy

UPDATE 2!

I ended up having to CFPB after a somewhat amusing but mostly obnoxious conversation with a banker, who came up with several ridiculous arguments for why I wasn’t eligible for the bonus, all of which contradicted the promotional terms. So I spent a few hours crafting a solid CFPB complaint and waited.

Two weeks later, I see a pending credit for 300 — the bonus. Nice! Thanks CFPB!

Bart
Bart

Clicked on the offer, now extended through January 31, 2020.

Denis
Denis

New DP: Opened a personal account a year ago, was not allowed to re-use the SSN for sole prop ‘business” for the bonus. Not a branch related issue, the branch was willing to open, but when the inquired higher they were told this.

Dubya
Dubya

Took almost 4 months but bonus posted. I used a lot or small swipes. Not Amzn.

BlissfulApathy
BlissfulApathy

When did you open the account? I opened 7/1 and no bonus yet.

Lol and yeah, I bought a lot of bananas last few months!

Dubya
Dubya

I opened in June. Bonus posted a week or two after the 90 day mark. Late September. I did the business and personal. Both posted on time.

churnandlurk
churnandlurk

Did this get pulled off the Best Bank Bonuses page? Link to the offer now showing expiration of 9/30/19, but it was pulled off the best bonuses page on 7/6, instead of the NJ bank offer that expired. William Charles

Anonymous166
Anonymous166

Did I screw up by only having $130 in the account for the first 10 days? It took a while to get the direct deposit in. Or does the average daily balance requirement start when the direct deposit posts?

Anonymous166
Anonymous166

Sorry, disregard. Average daily balance, not minimum daily balance. Cool beans.