DO NOT USE NETBANK! Their trademark states "Connect With Your Money," but if you become a customer you will be disconnected from your money.
I sent a third-party, government check to Netbank overnight mail via USPS to the address I was provided (with the literature they sent to me) several months ago when I opened my checking account with them. After a few days, I noticed the funds had not been credit to my account, so I called them to inquire why. I was informed that they did not receive it. Of course I was puzzled, so I called USPS to check on the status of the item.
I was informed by USPS that the item was undeliverable, because NetBank changed it address (without notification to either USPS or its customers), and they did not provide a forwarding address. USPS informed me that they called NetBank to ask them where to deliver the item and was waiting for NetBank to provide a new address.
So I called NetBank again and informed them of this new information, and they were very indifferent and cavalier about the incident. I was only informed that they do not notify customer of changes in their address; that they only post it their website. They implied that it was my fault that I did not send it to the new address (even though I was not informed of it and even USPS didn't know the new address). They also stated that the package was sent back to me.
After a couple of days (10 days after the item was sent overnight mail), I noticed that the check posted to my account. However, the funds were "restricted," because it was a third-party check (even though it was a government check issued by the Treasury), and I must send them a letter from my daughter and a copy of her driver's license in order for them to release the restriction.
NetBank informed me that in its "Important Information About Your Accounts" publication it stated "We are not required to accept the following types of deposits: (1) third party checks... (and others)." So they should have sent the check back to me. In addition, the publication said nothing about restricting third-party checks or requiring a letter from the owner of the check and a copy of their driver's license. I brought these fact to their attention, and was told they would "research" it.
The supervisor with whom I spoke, called me back and indicated that "it is an internal policy," which was obviously invented because she had no knowledge of this "internal policy" when she informed me that she would "research" it. Even though I thought this was egregous and not standard banking practice, I complied by faxing a letter from my daughter and a copy of her driver's license to NetBank. After a day, the funds still were not released. I called NetBank again, and I was told that the quality of the fax was not good enough. What?? Unbelievable!
NetBank said that I would have to resend it, even though the letter was legible and driver's license picture was readable (I sent another fax of the letter and copy of my daughter's driver's license to myself using the same fax machine).
At this point in time, it was clear that NetBank was intent on withholding these funds without justification or precedence. I could not believe that they would treat a customer in the manner, and I know that this is outrageous behavior for any bank.
What is more, I dismissed previous episodes of lapses in customer service and egregious behavior by NetBank, attributing it to isolated cases of bad service. But it is now apparent, that this is the modus operandi for NetBank. Horrible customer service and outrageous banking practices is what you can expect from NetBank. Word to the wise: DO NOT USE NETBANK!