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NetBank is rejecting direct deposits to MMAs if they are designated as savings accounts. Has anyone else heard of this issue? My tax refund last year was deposited as such, so I used the default from Turbo to designate it the same way. This week, however, my wife's payroll direct deposit was rejected because we called it a savings account and not a checking account. When I called they said the same thing would happen to my tax refund. Several Bank Mails are waiting answers. Is this commonplace, or is it unique to NetBank?

Hi -- new to the board, but not the Fool or OLB.

I used to use Wingspanbank.com (which I loved, incidentally), and I had this same problem. My employer uses DD for our paychecks, and Wingspan wouldn't allow my check to be deposited to my savings account. Had to use the checking instead.

Wingspan has since been absorbed by its parent, BankOne, and I am now allowed to direct deposit to my MM savings account.

As an aside, I've just started reading this board because BankOne isn't the greatest -- I was spoiled because I loved everything about Wingspan, but the switch has made me want to consider switching.

jason
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