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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Review summary
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What people talk about most
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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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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'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 94% of negative reviews
Typically replies within 48 hours
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Fast and easy account setup
Signing up for a new account was fast and simple. Most of the process was completely done online, but I did have to speak to a customer service representative concerning questions about the account. The representative was very helpful and friendly. Live Oak's personal savings account rate is great!
May 18, 2026
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.
SBA All-Stars
I work in in-home care and have obtained 2 SBA loans through Live Oak Bank for business acquisition. The entire team has been very responsive to all requests and they communicate well regarding timelines and needed items. Louise, Allison, Megan, and Zach were all fantastic. They were transparent throughout the process and always professional. I would recommend them to anyone considering an SBA loan and I will gladly go back to them again in the future if I have the opportunity.
June 1, 2026
Unprompted review
Reply from Live Oak Bank
Ryan, we are thrilled you had two incredible experiences with the loan process. Thank you for sharing your feedback, we will pass it along to the team. It means a lot.
Very happy with my experiences with…
Very happy with my experiences with live oak Bank.
April 26, 2026
Reply from Live Oak Bank
Harold, thanks for sharing your experience. We’re grateful to have you as part of the Live Oak community!
My Live Oak savings account combines high rates with liquidity.
I use Live Oak only for a savings account, so my experience is limited and simple. I like the comparatively high rates combined with liquidity. I do transfers between this account and my primary checking account, and they always go smoothly.
May 26, 2026
Reply from Live Oak Bank
Yehudit, we’re thrilled to hear you continue to have great experiences with your savings account. Thanks for choosing Live Oak - we’re here to help you keep growing.
Customer service representatives worked…
Customer service representatives worked with us in trying to answer and solve some issues we had.
May 19, 2026
Reply from Live Oak Bank
Rolando, thank you for being a Live Oak customer! We’re so glad our team could make your experience a great one.
Top notch service
The team at Live Oak made a potentially anxiety provoking situation (buying a new business) into a pleasant and stress free experience. From beginning to end, I felt comfortable that Andrew Kennedy and Megan Hayes had vast knowledge of the SBA process and had our best interests at heart (which is not something you often say about a bank). We were in constant communication with Megan and I felt I could reach out to her at anytime to answer questions and address concerns. I highly recommend Live Oak Bank for all of your banking and lending needs.
May 31, 2026
Unprompted review
Reply from Live Oak Bank
Thank you for sharing your experience and for your kind words! We’ll pass your feedback along to the team - it means a lot.
Reply from Live Oak Bank
Michael, thanks for sharing your experience. We’re grateful to have you as part of the Live Oak community!
Live Oak Bank Bonus
Live Oak Bank does not confirm bonus conditions have been met and the bonus will be awarded.
May 4, 2026
Reply from Live Oak Bank
Thanks for sharing your experience. Your feedback has been shared with the team.
Great Customer Support
I recently had an issue of the account access and had a great experience with the bank's customer support personnel, namely Christian. Thank you Christian.
May 15, 2026
Unprompted review
Reply from Live Oak Bank
Doug, thank you for being a Live Oak customer! We’re so glad our team could make your experience a great one.
I appreciate the easy to understand and…
I appreciate the easy to understand and use the app!
May 24, 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.
May 24, 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.
May 24, 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
May 14, 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!
May 20, 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.
May 12, 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?
May 18, 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
May 18, 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.
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