Indymac bank is a very reliable banking institution and well served by a courteous and competent staff and customer relations team. I have been a returning client for several years.

Hard to set up online account with, however once set up very pleasant to bank with on line. Very satisified.Good Web site user friendly.

Great bank to open CD accounts. Pleasent service. Overall service has been very good.

I have never been more frustrated with any company's lack of customer service than I have with IndyMac's. My husband and I got a construction loan through IndyMac to build a second home, and two months later, they ended their construction loan program and laid off 55 employees in this department. Their customer service was extremely poor to begin with, and now it's non-existent. It has taken as long as 42 minutes of hold time to just get my phone call answered by IndyMac, and when they do, no one can give you any kind of intelligent answer. This is true of their checking and online banking as well. We also opened a regular checking account with them so that our construction draws on the loan could be deposited directly into an account, because they told us this would save us transfer fees and we'd be able to pay for construction costs right from their online banking. It took me a whole week of calls just to get IndyMac's automated phone system and online banking system to recognize my loan or checking account number. Then, their system put a defective "cookie" on my computer that would give me an error message telling me my account was "unavailable." When I called about that, they told me they didn't have a technical support department, and to try re-booting my computer (12 times). After being transferred all over the place and disconnected twice so that I had to call back and hold for another half hour, I finally got someone who knew what to do, but if I hadn't been insistent and infuriated, their answer was going to stick with, "Sorry, I guess you can't use our online banking system anymore. Your computer must have a problem. Try writing a check." They have loaned us over $700,000 to build a house, but actually being able to get to the money to use it, is a major pain. We’ve had to wait up to 9 days to access the money in a draw. Because of all the nightmares with accessing online banking, we asked for a Visa Debit card to use in order to access our funds and pay for purchases related to construction. The first purchase we tried to make (kitchen appliances) was denied because it turns out the standard per-transaction limit is $2,500. I had to call four times and spend over two hours on the phone to get someone who could increase the transaction limit, and then I’m told that it's increased to $5,000, but this means we can only make one purchase per month, because they also have a $5,000 per month limit. This is not credit, it’s the limit on accessing money in our checking account! If we decide to stick with the $2,500 limit, we get to use the card a whopping 6 times per month (their policy, can’t be changed, don’t even try). Now I have to keep a tally in my purse of when the last time I used my debit card was, and if it’s been 30 days yet so I can use it again. Almost all construction purchases now have to be made with a check (you can’t buy anything for major construction for under $5,000) -- try buying kitchen cabinets at Home Depot and writing a $14,000 check. You would think that they'd like to help me spend as much of my available funds as easily as possible so they can start earning interest on it, but that's way too logical. I really despise this company, and thank God we're getting close to the end of construction. The fact that they’ve now assigned a specialist to “help” me convert my construction loan to a 30-year loan with them makes me want to double-over laughing. Unless you really like gray hair, I'd skip doing business with IndyMac.

Indy is basically a wholesale mortgage lender with a "side" retail banking unit.
Mortgage business is down sharply, as is staffing throughout the company.
Plain vanilla banking is probably OK, however, rememeber that IF the bank fails, though FDIC will make good, it may take an extended period of time to get your insured funds.

Opened a cd on 4/15/08 on-line, it is now 5/3 and they have yet to take my money and actually open the CD. Apparently they have more business than they can handle or only have ONE employee!!

I started doing business with this bank April 08. I opened 2 CD accounts. The people I talked too were very friendly & helpful. Even tho I talked to a different person ever time, the thread of the communications was very good. The hold time in April was long about one half hour or so (do to it being tax time), It took 2 minutes today to reach someone. I did have to assert myself in april to speak to a supervisor But once I reached him he was very patient & helpful.
I hope when I start withdrawing I have the same experience.

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