Very good experience opening a CD. Probably one of the quickest, simplest online methods I've experienced yet. The CD account webpages are from a common format which I've seen in other institutions. Another plus, as I immediately knew how to get around. A small Internet bank, and somewhat laid back when communicating via phone. If they would have broader ACH transfer rules, I'd be tempted to move my online savings accts. to them.

I opened the savings account 3 months ago and didn't encounter any problems when opening the account. Inbound or outbound transfers usually take 1 day to clear compared to other banks. I was forced to change my password last week. This scared me a little bit because why I had to change my password suddenly. It would be nice if WebBank can provide 2-factor authentication. Updated 10/04/2019: I was forced to change my password again after logging on WebBank today. It seems like I have to change my password every 2 months. I'm not sure my account is properly safeguarded or not. Why do I have to change my password so often?

WebBank pays a higher interest rate than most brick-and-mortar banks, but you can find better rates at the best high-yield savings accounts online. Its minimum opening deposit is pretty hefty, at $1,000. Most brick-and-mortar banks require significantly less, and many online banks don't require an opening deposit at all. Accessing your cash is tricky with WebBank, because it doesn't have a checking account. You'll have to transfer funds to an external bank account via an outgoing wire transfer. This transfer will cost $25, and it could take a couple of business days for your money to arrive in the other bank account.