Using information found here at GoTalkMoney, I opened a relatively small, short-term CD with IndyMac Bank earlier this year. I cannot say that I was very impressed by IndyMac Bank itself; the “online CD” opening process involved a lot of offline activity and the web site leaves a lot to be desired. I recently closed my CD upon its second renewal, not because of concerns of my money with IndyMac Bank, but because I had use of it elsewhere. I was not impressed with the closing process for the CD, either. Again, the “online CD” required offline activity. However, the customer service representative who helped me was patient, friendly, and quite helpful and I did receive my funds in a timely fashion.

Until their online system radically improves, I would not want to open a high-maintenance account with IndyMac Bank, but I would happily open another CD with them. My recommendations for the bank follow the same lines: I do not recommend them for a high-maintenance account, but I do for an account that requires infrequent attention. Balances should stay under the FDIC insurance level, but that is true with any institution, and GoTalkMoney lists many good ones across which to spread those higher balances.