This review is for: Direct Super Savings
1st Constitution Direct rules their bank with an iron-fist.
The only way to move money in or out of 1st Constitution is through their ACH system. They don’t accept wires, mailed checks or in-branch deposits. And not only do they prevent external banks from initiating ACH withdrawals. They also prevent externally initiated deposits! I couldn’t believe it, and asked the CSR 3 different ways, but she kept insisting and saying the same thing “All money transfers must be done through our system - in and out. That’s right sir, no direct deposit.” Thankfully (for them, because I won’t be banking here) their own ACH system is actually quite good with no limits on transfers and up to 3 linked accounts.
Surprisingly, their money transfer policies aren’t the worst of it - when I asked the csr what type of credit check they perform she said she couldn’t tell me as they “can’t discuss their security procedures.” What?! Seriously?! I have never - EVER - heard that before. This is a SAVINGS account, I’m not buying a house.
I asked if she got that question often and always got the same incredulous response. She said yes, clearly not happy with the company policy, but resigned to it. I asked if she really wanted to tell someone, just once, and suggested that I could be that person. She laughed, but held strong.
It really is laughable that 1st Constitution has such strange - no, ridiculous - policies. I’m not sure if they misheard and thought their was a problem with sub-prime savings accounts and needed to tighten their procedures around accepting money or if they’re just clueless. Either way - they won’t be getting my money.
Posted by takethemoneyandrun -- March 18, 2009
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