I have purchased about 5 pairs of AE's from the Shoe Bank. I have not had any real issues - a little wrinkle here and there, some stitching not quite perfect, etc. On a couple of the shoes purchased from the Shoe Bank I have not been able to spot any flaws. Probably the biggest issue I had was with my Long Branch boots - one of the boots has the eyelets not quite lining up perfect. Much less noticeable when laced up and can't see it under my jeans when I'm wearing them so no big deal to me. I have never returned anything I bought from the Shoe Bank.
I don't know if my experience is representative of all Shoe Bank purchases or if I am just lucky. But that has been my experience.