Read 5 Real Customer Reviews of Liveoakbank.com

Reviews Summary

Liveoakbank.com has a 3.8 - star rating from 5 reviews, indicating a low level of customer satisfaction!

5 stars

3 Reviews

4 stars

0 Reviews

3 stars

1 review

2 stars

0 Reviews

1 stars

1 review

About company

Live Oak is a digital, cloud-based bank that caters to small business owners across all 50 states. As the #1 SBA 7(a) lender in the country by dollar volume, their core mission is to be America's premier small business bank. They are committed to realizing this vision by offering a suite of banking products that empower business owners to purchase, construct, and expand their ventures. Additionally, Live Oak provides FDIC-insured high-yield savings accounts and CDs, offering a means for entrepreneurs to cultivate their hard-earned capital. Their services are tailored to meet the specific financial needs of small businesses throughout the United States.

Key Details:

Location: The company is headquartered in Wilmington, North Carolina, United States.
Founders: Liveoakbankcom was founded by James S. (Chip) Mahan III.
Foundation Date: The company was established in the year 2008.

Customer reviews

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(5.0)

Been usin' LiveOak for biz

by Martin April 4, 2024

Been usin' LiveOak for biz savin's 'bout a year. Sign up was good. No troubles with site or QuickBooks link. Like security not tied to site user id.

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(5.0)

Every person I've talked to at Live

by John April 3, 2024

Every person I've talked to at Live Oak has been real nice, helpful, and they've answered all my questions. And I'm not just talking about January 16th. You can't say that about a lot of businesses, even banks.

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(1.0)

This ESG-focused bank

by Greg C November 4, 2023

This ESG-focused bank unexpectedly canceled my business savings account after more than 3 years with no clear reason. I predict they will follow the path of banks like SVB or Signature Bank. Take a close look at their financials. Surprisingly, this turned out to be a blessing in disguise.

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(3.0)

I initially joined for the competitive savings interest rate

by CV October 16, 2023

I initially joined for the competitive savings interest rate, but my overall experience has been less than satisfying. The app's Face ID sign-in feature is supposed to offer convenience, but it works inconsistently, functioning less than half the time. Mobile deposits have proven to be quite picky and challenging to get right. What's especially frustrating is my business account, which bears my name, faces issues with check deposits. Despite being legitimate checks from clients, I find they often get rejected when deposited into my business account, even though I'm not trying to funnel business checks into a personal account. Furthermore, the policy of holding deposits for up to 5 days feels excessive. While it's true that I do earn interest during this period, the inability to access my funds promptly can be inconvenient, especially when I require immediate access to my deposited funds. It would be more convenient if these issues could be addressed to enhance the overall banking experience.

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