zynlobank.comReviews of zynlobank.com

Teaser rate of 5% dropped a week later to 4.4%. Cumbersome to open account with many delays. They hold your deposit for way too long before crediting your account and paying you interest.. Too many bank games.

I opened the account because they offer a 5% apy on their savings account as long as you open a checking account too. Within a week they dropped their rate from 5% to 4.35%. Kind of dissapointing but still a decent rate. What really left a bad taste in my mouth is that they offer a 100 day 100% match on your spending. So they round up your transaction to the nearest dollar and then match it. They fail to mention that this match starts immediately but you can't take advantage of it until you get your debit card. It took about two weeks to get mine, and then still I couldn't use it because I had to transfer money from previous bank account to my zynlo account and that takes an additional three business days. I was not able to transfer money before then because I needed to keep money in my original banking account so I could survive since I couldn't access my funds with my zynlo account until I got a debit card. Overall, it's a bit misleading and I don't feel like the bank is fully transparent or trustworthy.

I've never had such a hard time opening an account. I unfroze my credit with all three credit institutions and even waited a day, as customer service suggested, but to no avail. It is frustrating to be denied opening an account because their system didn't verify me even after I confirmed with the three credit institutions that I had unfrozen my credit. Additionally, their system doesn't allow manually opening accounts unless another person is added to a joint account after opening the account. So, due to their software and lack of workaround, it would be impossible for me to open an account with them. No apologies were made for the hassle, inconvenience, and time wasted.