I’ve had nothing but the best banking experiences with Live Oak Bank over many years beginning with their Founders Savings Account. Transfers in and out are accomplished smoothly and in a timely m... See more
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Review summary
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What people talk about most
Reviews shaping this summary
Very Satisfied with Live Oak Bank. I have been a customer for numerous years, mostly purchasing CD's and now have opened a savings account. Everyone I have dealt with has always been exceptionally fri... See more
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Live Oak Bank is consistently offers one of the highest rates available on savings accounts. I rarely need assistance, as their website offers enough functionality to meet my needs. However, when I... See more
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Live Oak's online application was very easy to use. I was able to transfer funds easily from another bank. The interest on the savings account is very competitive with other high yield savings account... See more
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Company details
About Live Oak Bank
Written by the company
Live Oak Bank has had the privilege of helping thousands of passionate, driven people turn their dreams into reality. These everyday heroes aren’t in it for the fortune or the fame. They’re in it to make a difference, just like we are. As one of the last banks to get a charter before the start of the Great Recession, Live Oak emerged out of the rubble of 2008 as the first bank to keep the customer at the center of the business model. We put a groundbreaking spin on what banking could be, focused on service and technology to redefine banking. Live Oak is a digital, cloud-based bank serving small business owners in all 50 states. We are America's premier SBA lender and our mission is to be America’s small business bank. We aim to fulfill that mission through banking products that help business owners buy, build and expand, along with FDIC-insured high-yield savings and CDs to grow their hard-earned money. Our family of companies under the holding and parent company Live Oak Bancshares (NYSE: LOB), and our subsidiaries, partner with businesses who share a groundbreaking focus on service and technology to redefine banking. Our mantra is to treat every customer like the only customer and our mission is to be America’s small business bank.
Contact info
1741 Tiburon Drive, 28403, Wilmington, United States
- 866.518.0286
- social@liveoak.bank
- www.liveoak.bank
4.6
Excellent
2K reviews
Asks customers to review
This company invites their customers to review, whether positive or negative
Replied to 95% of negative reviews
Typically replies within 48 hours
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I appreciate the easy to understand and…
I appreciate the easy to understand and use the app!
24 May 2026
Reply from Live Oak Bank
Thanks for the kind words, Vincent! We’re proud to be your banking partner and excited to support your journey ahead.
Great Deposit Rates
This bank makes it so easy to transfer money to outside accounts. They also have excellent deposit interest rates.
24 May 2026
Reply from Live Oak Bank
Gwendolyn, thanks for sharing your experience. We’re grateful to have you as part of the Live Oak community!
Efficient commercial division
Efficient commercial division. Our business closing went smoothly and quickly. Very professional and easy to accomplish a deal.
24 May 2026
Reply from Live Oak Bank
James, we’re thrilled to hear you had a great experience with your closing. Thanks for choosing Live Oak - we’re here to help you keep growing.
Reply from Live Oak Bank
Irene, thank you for banking with Live Oak! We are so glad our team could make your experience a great one!
Outstanding work from the team
Outstanding work from the team, thank you for great service and experience
14 May 2026
Reply from Live Oak Bank
Patrick, thanks for sharing your experience. We’re grateful to have you as part of the Live Oak community!
Reply from Live Oak Bank
Thanks for the kind words, Beverly! We’re proud to be your banking partner and excited to support your journey ahead.
Takes such a long time for a transfer…
Takes such a long time for a transfer deposit to actually show up. This, even though I get an immediate acknowledgment saying “your transfer was successful “. Made a transfer last Friday and today is Wednesday and not showing yet at 11 am!
20 May 2026
Reply from Live Oak Bank
Michael, your feedback has been shared with the team.
Live Oak bank is a deplorable bank!!
Live Oak bank is a deplorable bank!!! Do NOT BANK WITH LIVE OAK BANK because they do not honor their policy of customers withdrawing funds at will.
I transferred $40,000 from Chase bank into a High Yield Savings Account and $over $3300 via direct deposit.
when I tried to transfer my money to Axos bank less than 30 days after the account was opened Live Oak bank firmly said NO. They insisted on holding on to my funds for Sixty as in 60 days from the date I opened/deposited the funds, wow!!!
As of today, May 26th Live Oak bank is still in possession of $40,000.
Please DO NOT BANK WITH LIVE OAK BANK!!!! In addition, the customer service experience was not satisfactory.
A very Disappointed Customer
Nike O.
12 May 2026
Reply from Live Oak Bank
Timothy, thank you for your kind words!
LOB is a mixed bag
LOB is a mixed bag. More positive than negative.
Overall, we do like their people! They are helpful and polite, yet also inconsistent with follow-through and follow-up email + text.
Approval process during account set up is secure, but SLOW. Did not help that we were asked for the same info that we had already given before.
Their system fails to correct errors, like not sending us statements on time and not using the correct name in their comms with us [eyeroll].
Wonder when and if LOB will correct such shortcomings and raise their 3-star rating?
18 May 2026
Reply from Live Oak Bank
Thank you for sharing your feedback, it has been shared with the team.
Excellent and prompt customer service
Excellent and prompt customer service. The app is user friendly
18 May 2026
Reply from Live Oak Bank
Jill, thank you for sharing your experience. We're so glad our team could make your experience a great one.
Easy to do business with
Easy to do business with, start an account, transfer funds. Good internet interface.
14 May 2026
Reply from Live Oak Bank
Thank you for your kind words and for banking with Live Oak!
Took way too long to open an account…
Took way too long to open an account for my 90 year old mother. Customer service would say one thing then their back office would change what they asked for and we would start it all again. I am a long time customer, trying to help you grow by bringing in new depositors and felt I was treated very poorly.
4 May 2026
Reply from Live Oak Bank
Michael, we are sorry your experience did not meet expectations. We tried reaching you by phone but have not heard back. We are happy to talk more about your experience.
Reply from Live Oak Bank
Amy, we're glad you had a great experience with your account. Thank you for banking with Live Oak.
Reply from Live Oak Bank
Thank you for being a Live Oak customer! We’re so glad our team could make your experience a great one.
Love live oak!!!
10 May 2026
Reply from Live Oak Bank
Thanks for the kind words, Amy! We’re proud to be your banking partner.
I was able to get support setting up my…
I was able to get support setting up my account. They even returned my calls.
30 April 2026
Reply from Live Oak Bank
Thanks for sharing your experience. We’re grateful to have you as part of the Live Oak community!
Great experience opening an on line…
Great experience opening an on line bank account for the first time. I was apprehensive but the live customer service people I encountered were very well versed and were able to answer all of my questions and concerns. I have been a customer for two months now and all of the interest payments and statements have been spot on.
29 April 2026
Reply from Live Oak Bank
Charles, thank you so much for the kind words! We are glad our team could make your experience a great one.
You communicate with people in English.
4 May 2026
Reply from Live Oak Bank
We appreciate you choosing us as your banking partner and are excited to support your journey ahead.
Making deposits is quick and easy.
28 April 2026
Reply from Live Oak Bank
Jerry, thank you for your kind words! We're glad to be your banking partner and to support your journey ahead.
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