Thread Bank

This review is based on my experience with Thread as the banking partner for Relay (relayfi.com). My experience has been HORRIBLE. Do yourself a favor and do not bank with Thread.

I opened a business checking account, transferred money from my own credit union account and then was told this new business account is being closed and that the bank was holding my money for 60 days. The only explanation I have received is that my account is out of compliance. I have called, emailed, requested more info and have received zero information. I've invested way too much time and energy into trying to resolve. Meanwhile I can't access my money.

I have no way to convey my credentials - I'll just say that I have a very solid banking presence and there is nothing about me or my business that would make another potential customer think that this same thing won't happen to them. It's absolutely bizarre and appalling that a bank can hold your funds for 2 months and not communicate. I'm surprised that a regional bank like Thread hides behind technology instead of providing personal customer communication. I've already wasted my time and wanted to pay it forward in hopes that anyone reading this will not waste theirs.

their policy is to withhold all checks for 7 days. I have not had this issue with any other bank. just be aware that if you deposit a check they will not release it for 7days. very disappointed in this bank.

I don't trust this bank. They have had two data breaches in the past two years. For a bank that pushes and promotes technology, they surely don't make an effort to protect it.