Live Oak Bank Reviews 

1,998
TrustScore 4.5 out of 5

4.6

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Review summary

Created with AI, based on recent reviews

Evaluating 712 reviews, reviewers overwhelmingly had a great experience with this company. Customers frequently praise the extremely friendly and professional staff, smooth money transfers, and highly competitive deposit interest rates that offer great financial value. Many consumers and business clients also appreciate the user-friendly website, straightforward digital tools, and highly responsive phone support that make daily banking very convenient and accessible. Some people were dissatisfied with difficulties during online account opening, mentioning complicated paperwork, restricted check writing, and frustrating issues linking external accounts. Some reviewers also noted challenges with communication outside normal business hours, unexpected interest rate changes, or conflicting instructions from the internal back office.

What people talk about most

User experience

Users describe positive interactions with user experience, highlighting that signing up and opening accounts... See more

Customer service

People report positive experiences with customer service, highlighting quick responses and helpful... See more

Staff

Reviewers mention positive feedback about staff, noting that everyone they dealt with was exceptionally... See more

Service

Reviewers highlight positive aspects of service, praising the super efficient and helpful support they... See more

Price

Customers consistently note positive experiences with price, highlighting very competitive bank rates for... See more

Reviews shaping this summary

Rated 5 out of 5 stars

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

Company replied

Rated 5 out of 5 stars

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

Company replied

Rated 5 out of 5 stars

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

Company replied

Rated 5 out of 5 stars

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

Company replied


Company details

  1. #10 of 26 best companies in Bank
  2. #3 of 4 best companies in Savings Bank

About Live Oak Bank

Written by the company

Live Oak Banking Company

Live Oak Banking 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.

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.

Business Loans
Business Banking
Personal Banking

Contact info

4.6

Excellent

TrustScore 4.5 out of 5

2K reviews

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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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4.6

All reviews

(1,998)

555 reviews in the last 12 months

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Rated 5 out of 5 stars

World Class Funding!

Working with LiveOak was one of the best decisions we made during the acquisition process! The entire deal team were top notch (Nick Padlo, Brian King, Hagan Imorde, and Linda Huynh). They were responsive, transparent, and incredibly knowledgeable. They took the time to walk us through different options and truly cared about our success.

What really stood out was how proactive they were by anticipating questions before we even asked and keeping everything on track so there were no surprises at closing. Even when things got time-sensitive, they stayed calm, solution-oriented, and got it done.

If you’re looking for someone who is sharp, reliable, and genuinely has your best interest in mind, I highly recommend working with them.

April 1, 2026
Unprompted review
Live Oak Bank logo

Reply from Live Oak Bank

Charl, we’re thrilled to hear you had a great experience with the aquisition process. Thanks for choosing Live Oak - we’re here to help you keep growing.

Rated 5 out of 5 stars

A Happy Customer

I had tried several other online banks and wasn't happy. My experience with Live Oak Bank has been excellent. I feel that my money is safe and that Live Oak Bank is well run. I would definitely recommend this Bank to friends and family.

April 6, 2026
Live Oak Bank logo

Reply from Live Oak Bank

Thanks for the kind words, Richard! We’re proud to be your banking partner and excited to support your journey ahead.

Rated 2 out of 5 stars

Cannot add co-owner

From the time I opened this account, I have repeatedly tried to add my wife as a co-owner with no success. I have even called your support line. Ended up adding her as a beneficiary instead but I want her as a co-owner.

March 4, 2026
Live Oak Bank logo

Reply from Live Oak Bank

Frederick, we're sorry your experience did not meet expectations. A member of our team will be in touch.

Rated 4 out of 5 stars

Ease of access

Ease of access, but your interest rates are not as competitive as before. I sent a chunk of my money to another online back with better rates.

March 30, 2026
Live Oak Bank logo

Reply from Live Oak Bank

Thank you for sharing your experience, we will pass your feedback along to the team.

Rated 2 out of 5 stars

It was difficult to activate my account…

It was difficult to activate my account and link my external account. Then when I finally got my account activated and money in it, your back did a promotion and would not include me in the promotion. Just like cable companies existing clients don't get any promotions and you drive people away. I had 45000 more dollars to deposit, but I choose a different bank to do tha because your bank would not include me in the promotion that I did not know about and missed by less than 2 weeks.

April 5, 2026
Live Oak Bank logo

Reply from Live Oak Bank

We're sorry your experience did not meet expectations. We will pass your feedback along to the team.

Rated 5 out of 5 stars

Happy with Live Oak

My son told me how happy he was with Live Oak Bank and that I should join so I did. Very easy and getting cash back is a bonus.

April 5, 2026
Live Oak Bank logo

Reply from Live Oak Bank

Colleen, we appreciate your support and are glad to hear things went well. Thanks for banking with Live Oak!

Rated 5 out of 5 stars

I love how simple it is for to save…

I love how simple it is for to save with live oak. Straight forward and easy experience. No complaints!

March 30, 2026
Live Oak Bank logo

Reply from Live Oak Bank

Jordan, we’re thrilled to hear you had a great experience with your savings account. Thanks for choosing Live Oak - we’re here to help you keep growing.

Rated 5 out of 5 stars

Excellent Service

Nice to have a real person help when you call and not AI robots. Everyone has been courteous, knowledgeable and very helpful when a question arises.

April 7, 2026
Live Oak Bank logo

Reply from Live Oak Bank

Jim, thank you for being a Live Oak customer! We’re so glad our team could make your experience a great one.

Rated 5 out of 5 stars

Easy to use website

Easy to use website. Good layout.

April 8, 2026
Live Oak Bank logo

Reply from Live Oak Bank

Thanks for the kind words, Lori! We’re proud to be your banking partner and excited to support your journey ahead.

Rated 5 out of 5 stars

Transfers to and from our Live Oak…

Transfers to and from our Live Oak savings is so easy and convenient. Great rated too!

April 1, 2026
Live Oak Bank logo

Reply from Live Oak Bank

Sherry, we’re thrilled to hear you had a great experience! Thanks for choosing Live Oak - we’re here to help you keep growing.

Rated 5 out of 5 stars

Clean and clear web design combined…

Clean and clear web design combined with excellent written instructions and good processes made getting my account open and funded a breeze

April 8, 2026
Live Oak Bank logo

Reply from Live Oak Bank

Thanks for the kind words, Susan! We’re proud to be your banking partner and excited to support your journey ahead.

Rated 5 out of 5 stars

It was simple to open an account

It was simple to open an account. Love your customer service accessibility online.

April 1, 2026
Live Oak Bank logo

Reply from Live Oak Bank

Gladys, we appreciate your support and are glad to hear things went well. Thanks for banking with Live Oak!

Rated 5 out of 5 stars

A Fantastic Bank

I enjoy the ease of access, reviewing of accounts, ease of transferring funds, notifications, and highly competitive interest rates!

April 8, 2026
Live Oak Bank logo

Reply from Live Oak Bank

Juli, thanks for sharing your experience. We’re grateful to have you as part of the Live Oak community!

Rated 5 out of 5 stars

Transfers going well.

Still transferring from another bank, but so far, so good.

April 7, 2026
Live Oak Bank logo

Reply from Live Oak Bank

Thank you for the kind words, Joe! If you have any questions, our Customer Success Team is ready to help at 866.518.0286, Monday to Friday, 8:00 a.m. to 8:00 p.m. ET. We’ve got you.

Rated 4 out of 5 stars

Easy to do business with and ensure…

Easy to do business with and ensure that your service meets your customers expectations.

March 30, 2026
Live Oak Bank logo

Reply from Live Oak Bank

Alfred, thanks for sharing your experience. We’re grateful to have you as part of the Live Oak community!

Rated 5 out of 5 stars

Amazing customer service

Amazing customer service. Everyone I worked with throughout the loan process was great and made sure I was fully in the loop and understanding the process. It feels like they want me to succeed in my new business, and they are available to help make that happen, even after the loan closed. Definitely recommend.

April 9, 2026
Unprompted review
Live Oak Bank logo

Reply from Live Oak Bank

Elizabeth, we’re thrilled to hear you had a great experience with the loan process. Thanks for choosing Live Oak - we’re here to help you keep growing.

Rated 5 out of 5 stars

It was simple

It was simple. I created the account online, moved money, and made more interest money in a month than in the past year. What's not to like? I appreciate that there is a phone number to a real place and a real person. Used it once and was happy with the experience. My questions were answered professionally and politely. A great combination in this day and age.

April 1, 2026
Live Oak Bank logo

Reply from Live Oak Bank

Thanks for the kind words, Mary! We’re proud to be your banking partner and excited to support your journey ahead.

Rated 5 out of 5 stars

Great Bank and Reliable service

Great Bank and Reliable service. No issue.

September 15, 2025
Live Oak Bank logo

Reply from Live Oak Bank

Jacob, thank you for being a Live Oak customer! We’re so glad our team could make your experience a great one.

Rated 5 out of 5 stars

Fantastic yields and service

Live Oak Bank was recommended to me by a friend and I was skeptical about the interest rates and bonus after making a deposit. I’m glad I looked further into this bank, they are absolutely fantastic and lived up to the expectations I had with high yield rates in savings accounts!

March 3, 2026
Live Oak Bank logo

Reply from Live Oak Bank

Thomas, thanks for sharing your experience. We’re grateful to have you as part of the Live Oak community!

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