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
Created with AI, based on recent reviews
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
How this company uses Trustpilot
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All online transactions went through…
All online transactions went through easily! I have already recommended you to a family member.
28 July 2026
Reply from Live Oak Bank
Keith, we’re thrilled to hear you had a great experience with your online transactions. Thanks for choosing Live Oak - we’re here to help you keep growing.
LOB makes everything as easy as…
LOB makes everything as easy as possible. On the rare occasion I've run into trouble, their Help Desk has been exceptional. But those times of trouble are indeed rare.
20 July 2026
Reply from Live Oak Bank
Audrey, thank you for being a Live Oak customer! We’re so glad our team could make your experience a great one.
Communication is a challenge
Communication is a challenge with LiveOak if you work during the day and have questions outside business hours. There’s no customer service email support. I’m looking to move elsewhere bc of that. And it takes 3 days or so to transfer funds to regular bank - this may be a norm but I’m looking around to see if there’s a better account.
1 September 2025
Reply from Live Oak Bank
Hi there - sorry you’re having trouble. Our Customer Success Team is ready to help at 866.518.0286, Monday to Friday, 8:00 a.m. to 11:00 p.m. ET, or can be reached at customersuccess@liveoak.bank. We're here to help.
First time I’ve ever heard of live oak…
First time I’ve ever heard of live oak bank from my daughter. I was pleased with customer service and explanations on online walk through.
26 July 2026
Reply from Live Oak Bank
Debra, thanks for sharing your experience. We’re grateful to have you as part of the Live Oak community!
Spent 10k to start an and loan process…
Spent 10k to start an and loan process and was told I was approved after spending 30k on feasibility, environmental, surveys and engineering extras. All for them to just pocket the cash and stop responding. One star is 10 times better than what they were. Terrible
30 June 2026
Unprompted review
Reply from Live Oak Bank
Thank you for sharing your experience. Your feedback has been shared with the team.
Terrible Terrible Terrible
20 July 2026
Reply from Live Oak Bank
We’re sorry to hear this. We’d like to understand more and make things right - please reach out to us at cx@liveoak.bank.
I cannot run a business with my banking…
I cannot run a business with my banking accounts. It’s almost impossible. I wanted three operational accounts . A manager has to approve your limit increase and it could take hours. You can’t write checks fluidly. That’s also a barrier. Transferring funds are a head ache. I’ve never had so many barriers accessing my own money. I do not recommend at all.
20 July 2026
Reply from Live Oak Bank
Thank you for sharing your feedback. We are sorry your experience did not meet expectations. A Customer Success Manager will be in touch to assist.
Reply from Live Oak Bank
Carrol, thank you for being a Live Oak customer! We’re so glad our team could make your experience a great one.
Website easy to use
12 July 2026
Reply from Live Oak Bank
Thanks for the kind words, Sharan! We’re proud to be your banking partner and excited to support your journey ahead.
Reply from Live Oak Bank
Ann, thanks for sharing your experience. We’re grateful to have you as part of the Live Oak community!
Never needed customer assistance
Never needed customer assistance, everything straight forward and no hoops to jump through, keep up the good work!
8 July 2026
Reply from Live Oak Bank
Justin, we’re thrilled to hear you had a great experience. Thanks for choosing Live Oak - we’re here to help you keep growing.
Customer service is great
Customer service is great, you can actually talk with a human which is rare these days for a bank. Rates are really good for a business HYS.
15 July 2026
Reply from Live Oak Bank
Adrian, 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, Thomas! We’re proud to be your banking partner and excited to support your journey ahead.
Reply from Live Oak Bank
Bruce, we appreciate your support and are glad to hear things went well. Thanks for banking with Live Oak!
Rates too lowApplication process was good,
Application process was good,
Rates are too low when May inflation was 4.1%
13 July 2026
Reply from Live Oak Bank
Richard, thanks for sharing your experience - it means a lot. We’ll pass your feedback along to the team.
Live Oak Bank has a good APR rate…
Live Oak Bank has a good APR rate compared to other online banks. After a few clicks, my transfer from another bank was complete. So easy!
12 July 2026
Reply from Live Oak Bank
Michelle, we’re thrilled to hear you had a great experience. Thanks for choosing Live Oak - we’re here to help you keep growing.
User-friendly, respectful Banking
Live Oak Bank has been the best experience I've had with banking. I'm a bookkeeper by profession, dealing with many banks - local and national. I chose Live Oak for my business because it was easy to set up, non-intrusive or restrictive, great customer service, and amazing interest rates.
1 July 2026
Unprompted review
Reply from Live Oak Bank
Jennifer, we’re thrilled to hear you had a great experience with your business account. Thanks for choosing Live Oak - we’re here to help you keep growing.
Great rates
Easy online account setup, some of the best rates around and user friendly app.
2 July 2026
Reply from Live Oak Bank
Jeremy, thanks for sharing your experience. We’re grateful to have you as part of the Live Oak community!
Live Oak Borrows your money without your permission
I used LiveOak bill pay to pay my Visa bill. Live Oak never disclosed that they would take my money - hold for 3 days to make interest - and then make my payment. Every payment that I make - that live oak should send electronically - they make after 5 days. Yes - Live oak steals your money for 3 days - makes interest on it and then on the 4th day they make the payment. They steal the money!
14 July 2026
Unprompted review
Reply from Live Oak Bank
Eric, we are sorry your experience did not meet expectations. Your feedback has been shared with the team.
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