I have probably been the most outspoken fan of BankDirect as a great checking account. I’ve endorsed them daily as an awesome way to rack up miles. I’ve posted often about how much I recommend them as a place to park your money. Unfortunately, I’ve had a big change of opinion.
I spoke with Toni Freitas, a Vice President at BankDirect, about my concerns. I’ve been so surprised with recent feedback. The bank has been changing…slowly enforcing rules that make our mileage lives more difficult. I noticed it too, and have tried to convince myself that it’s no big deal. Well, it has reached the point where I just don’t think it’s worth it anymore. Yes, you might want to open an account, collect the bonuses, and move on…but this is just not a long-term checking account worth having (in my opinion).
It’s a tough thing to say, seeing as I built an entire page on this blog to endorse them. That page is gone as of right now and I’ve got to be honest about my experience. Nothing illegal is going on, just some policies I disagree with. I’m sure I’ll write more about it later, but right now I want to apologize. This blog has grown in popularity and many people have opened checking accounts at BankDirect because of me. I apologize to the hundreds of people I’ve sent referrals to this year. I can no longer endorse BankDirect as a company I respect. They don’t value me as a customer the way I expect to be valued. I’m sorry for any inconvenience to those of you who’ve decided to close your accounts.
