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I`m convinced that x.com is encouraging customers to voluntarily close their accounts. This is proved by the fact that x.com is systematically reducing the services they provide (in many cases with only 24hrs notice).

Here`s what I can remember in order:
1. Reduction of overdraft credit limits
2. Elimination of credit card deposits
3. Elimination of overdraft accounts
4. Establishment of minimum balance with monthly fees

Not to mention poor interest rates, poor customer service, never living up to the promise of a true `bill pay service.

Oh, and did I mention that if you happen to find the hidden link to signing up for a new account, you get the following message:
*****
"Thank you for your interest in X.com Online Banking. At this time, X.com Online Banking is not accepting new accounts. Please consider X.com`s PayPal service for your online payment needs (PayPal is not an FDIC-insured service)."
*****

Maybe they`ve decided that online banking is not making them enough money and the only way they can make some bucks is to eliminate overdraft accounts and hope people will write checks against deposits that haven`t cleared yet --- thus allowing them to charge a $25.00 NSF fee.

There can be no other logical explanation for their behavior. I`m disappointed with x.com because when I originally opened my account, I was excited about their approach to banking. Boy did they do a 180. For the moment I will still keep my account open with a $100 minimum deposit so that I can be part of the Class Action Lawsuit, when it happens.

-jschott
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Class action lawsuits against bankrupt companies result in exactaly a 0 dollar payout.
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Class action lawsuits against bankrupt companies result in exactaly a 0 dollar payout.

What are you saying? Are they bankrupt? Is there a class action lawsuit against them?
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Just read in NY Times that the President of x.com, Ed Musk, has resigned.
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Instead of going with an unknown company, you may want to consider checking out a local credit union. Many have, or are about to begin starting an online program.
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Until very recently, I enjoyed banking with x.com -- they seemed efficient and at least were trying to be on the "cutting edge". Their atm card never gave me any problems (as my others sometimes do) and they filled the niche I needed filled; a Visa check-card for use in online transactions which had a minimal balance yet was able to be "refilled" quickly and easily. This let me relax a little about online transactions (even though I've heard how safe they are generally) since the most anyone stealing my information would get was minimal.

It really appears that the management team of x.com has envisioned themselves as a "real bank" now and wants to move into that niche. To my way of thinking they have made a terrible mistake which will either be reversed very soon or the company will continue a decline. It seems (IMHO) that they really don't want customers to go away -- they want customers to go to PayPal and they think that many of us will close our x.com accounts and maintain our PayPal accounts. In my case, PayPal doesn't fill the niche I need filled right now. What they may have failed to realize is the number of PayPal customers whose "credit card" on record is actually their x.com check-card. hmmmmm.
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Let them have their way.

I just closed my accounts with them but am not sorry for the bonus that they gave me to open my accounts.

I never trusted them any way and never kept much balance nor did I use their debit card.
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I am hearing that there is just rampant fraud going through them and PayPal. Fraudsters have gotten hold of mass amounts of credit cards and are just running them through their service.
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