No. of Recommendations: 0
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 (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.

Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.