Read Live Oak Bank 128 Reviews Summary 2025

Justin Norman rated Live Oak Bank 4 stars

a month ago

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Love the app, the staff, and the high interest you can earn. Unfortunately the electronic check deposit system needs work. I received two checks in the same amount from the same client over the course of a couple of months, and the system flagged the check as a duplicate. Customer service was not able to override the system to allow me to deposit the check, and that's where you start to see the flaws of an online-only bank. The only solution was to mail the check to them. Thankfully I wasn't in immediate need of the funds, but if I had been, this could be a major issue.

Charles Houston rated Live Oak Bank 1 stars

3 months ago

I had high expectations for this bank, but my experience has not met those hopes thus far. While researching options for my business, this bank consistently appeared as a top choice, particularly due to its attractive interest rates. After successfully opening an account for my personal business, I proceeded to apply for a second account for another venture I manage, and that’s when I encountered some challenges. After diligently submitting the required paperwork and engaging in correspondence to provide the necessary documents, we managed to complete the process. The bank informed us that our application would be reviewed, with a timeline of two to three days for a decision. Unfortunately, when that timeframe elapsed, I discovered that the application had been canceled without any communication from the bank. I followed up for an update a week ago and am yet to receive a response. I hope this is not an indication of what to expect moving forward.

Jacqui Kolle rated Live Oak Bank 1 stars

3 months ago

Very disappointing experience having a VERY small balance distributed to my siblings and I after the passing of my mother. It has been months since I initiated this process. Constant excuses why checks still not sent out. On the other hand Vanguard distributed a significantly higher balance in less than a week. With all of the great choices for online banks do yourself a favor and stay away from Live Oak Bank.