No online access to online only bank?

Question

I have an account at an online only bank. There are no physical branch locations for me to visit. 8 months ago I had an issue trying to log in and called their customer support to try to get it resolved. They told me it's a technical issue, gave me a case number and told me they'd contact me once it's resolved.

I've since called a few times and each time they tell me that it's already been escalated and as a technical issue they don't have any timeline for how long it will take for my access to be restored.

I can still check my balance etc. over the phone, but I can't use mobile deposit for example. Are there any legal requirements for allowing access to my account that I might be able to cite when trying to get this issue further escalated?

(When I asked what I was supposed to do about not being able to mobile deposit, I was told I could send the check in by mail to get it processed, so I'm not sure if they could claim I still legally have access to my account, or if there even is such a concept as having legal access to an account.)

Answer 1

Online banks in the US are not legally special: they have to comply with the obligations of brick and mortar banks. I assume that this is actually a US bank, and not a Nigerian bank that you access from the US. However, there is no regulation that requires a bank to be able to handle mobile deposits. If the problem is just that you can't make online deposits, that is legally allowed. For example, my own bank did not have the facility for processing mobile deposits until a few years ago, and even now I have to use a smart phone to make such deposits (it is a traditional bank). The only way in which your situation would be legally problematic would be if your contract with the bank promises that you can make mobile deposits. You could reasonably argue that an 8 month delay in solving the problem was unreasonable.

Presumably there is some benefit to maintaining this bank, one which you'd like to keep rather than closing the account and moving on. It might be something like "if you close this account, we will claw back the interest that we paid". That is the point at which it might be worthwhile to talk to your lawyer about taking legal action.