The highest rate I have seen so far. FDIC insured, no minimums and no fees. Seems to be a good place to park your extra cash.
https://www.fnbodirect.com/01d/html/en/
https://www.fnbodirect.com/01d/html/en/
FNBO Direct 6% APY savings
- Thread starter camberiu
- Start date
Someone posted this last month and I've gotten my account since then.
Keep in mind, this is a promotional rate until 9/28/07. Also, there is a limit of 6 withdrawls and deposits in a month. So I consolidated a few accounts before I moved the money. The application process was simiar to other online savings accounts.
Keep in mind, this is a promotional rate until 9/28/07. Also, there is a limit of 6 withdrawls and deposits in a month. So I consolidated a few accounts before I moved the money. The application process was simiar to other online savings accounts.
I am currently abroad so I was wondering, after you completing the online app, whether they mail you back any paperwork that has to be signed and returned. I couldn't use them if that is the case.
Thanks
MJ
MJ -
No papers. Just verify the two small deposits they make to your bank account and that's it.
BTW -
I looked around for their rate prior to the 6% promo and it used to be about 5% which is what is could drop to after Sept. As long as it is competitive and the service is good I won't be in a hurry to pull the money out.
No papers. Just verify the two small deposits they make to your bank account and that's it.
BTW -
I looked around for their rate prior to the 6% promo and it used to be about 5% which is what is could drop to after Sept. As long as it is competitive and the service is good I won't be in a hurry to pull the money out.
RASAP
Recycles dryer sheets
- Joined
- May 18, 2006
- Messages
- 120
I have an account there. Everything seems OK, however, can anyone explain why it takes 3 days to do an electronic transfer from my local bank to this account. That seems pretty long given today's technology.
Pretty standard RASAP; 2 or 3 days.
maddythebeagle
Thinks s/he gets paid by the post
- Joined
- Jun 15, 2005
- Messages
- 2,450
They use Cashedge as does HSBC and some others....I believe there is some kind of arrangement that dont charge (or as much) for transfers....some others like Etrade and GMAC have quicker transfers and probably pay more....
When I take my main money out of FNBO at the end of the promo, I will probably use GMAC to pull out...
When I take my main money out of FNBO at the end of the promo, I will probably use GMAC to pull out...
FYI for all us who have chased the 6% yield:
Bank Deals - Best Rates and Deals: June 2007
FNBO President and the Future Plans with FNBO Direct
"BusinessWeek interviewed the president of FNBO regarding FNBO Direct and their plans. Here's the link to a video of the interview.
Although there's a lot of PR with this interview, it does provide a little more evidence that FNBO intends to be player in the online banking market. The president admits that the high rate intro is a strategic move to grab customers. They hope to keep the customers and move them into new products in the future such as credit cards, CDs, mortgages, etc. He also mentioned the importance of good customer service. So it seems likely that they'll keep the rates competitive after the intro. Also in my opinion, you shouldn't expect them to do anything to cause widespread anger with their customers such as making it more difficult to withdraw money as some had worried about after last week's email (see post).
So I thought this would make for another good poll. How high would the rate have to be after the promo for you to keep your money at FNBO Direct? Assume that the rate environment is the same as it is today. If it'll take more than just a high rate, select the last option."
Bank Deals - Best Rates and Deals: June 2007
FNBO President and the Future Plans with FNBO Direct
"BusinessWeek interviewed the president of FNBO regarding FNBO Direct and their plans. Here's the link to a video of the interview.
Although there's a lot of PR with this interview, it does provide a little more evidence that FNBO intends to be player in the online banking market. The president admits that the high rate intro is a strategic move to grab customers. They hope to keep the customers and move them into new products in the future such as credit cards, CDs, mortgages, etc. He also mentioned the importance of good customer service. So it seems likely that they'll keep the rates competitive after the intro. Also in my opinion, you shouldn't expect them to do anything to cause widespread anger with their customers such as making it more difficult to withdraw money as some had worried about after last week's email (see post).
So I thought this would make for another good poll. How high would the rate have to be after the promo for you to keep your money at FNBO Direct? Assume that the rate environment is the same as it is today. If it'll take more than just a high rate, select the last option."
Bank Deals - Best Rates and Deals Scroll down the page. Here are the results dPolls.com - Poll: How high would the rate have to be after the promo for you to keep your money at FNBO Direct?
calmloki
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
These fellers are trying to get me cranky. First an ostensible Patriot Act fishing request for my prior employer and my current employment status, which I responded to, saying that as someone who manages his own rental property I am neither employed, unemployed (who's fixing those toilets?), nor retired. Friggin Patriot Act, dang TSAs - Offa my dadgummed lawn and outa my Constitutional rights! Surprised they didn't say it was for the children. Then this morning a 2nd request, complete with an offer to hold our funds for 30 days and close the account. Uh - I did respond, so WTF? Seems that they did an oopsie - just got this e-mail:
Re: FNBO Direct account number ending in XXXX
Dear Mr.Cranky-pants,
Please disregard the email sent on August 10, 2007, with the subject line: Due Diligence 2nd Request. This email was sent in error and we apologize for the confusion it has caused. If Due Diligence information is required, you will receive a follow-up email. Again we apologize for this inconvenience.
If you have any questions, please send an email to fulfillment@fnbodirect.com or call 877-370-3707. Please reference your FNBO Direct account number when you contact us.
Thank you for choosing FNBO Direct for your Online Savings Account. Sincerely,
FNBO Direct Customer Service
Boy they make me feel good about ekeing out that last percentage point of interest from our funds.
Re: FNBO Direct account number ending in XXXX
Dear Mr.Cranky-pants,
Please disregard the email sent on August 10, 2007, with the subject line: Due Diligence 2nd Request. This email was sent in error and we apologize for the confusion it has caused. If Due Diligence information is required, you will receive a follow-up email. Again we apologize for this inconvenience.
If you have any questions, please send an email to fulfillment@fnbodirect.com or call 877-370-3707. Please reference your FNBO Direct account number when you contact us.
Thank you for choosing FNBO Direct for your Online Savings Account. Sincerely,
FNBO Direct Customer Service
Boy they make me feel good about ekeing out that last percentage point of interest from our funds.
Yes, I got that email, too. I never got the supposed first request and this one looked fishy / phishy. So I didn't respond to the email and I forwarded it to FBNO for them to check out. They haven't gotten back to me yet. I'm wondering if it was a legitimate email that was supposed to be sent to a FEW and got sent to ALL instead.
I tried to call them too, but after transferring to the correct dept. I kept getting disconnected. I bet they had a ton of calls on this.
I tried to call them too, but after transferring to the correct dept. I kept getting disconnected. I bet they had a ton of calls on this.
calmloki
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
We did get through by phone and they confirmed that they had goofed. And were getting phone flooded. Frankly I feel they goofed with the first request, but that's just me.
cantlogin
Full time employment: Posting here.
They sent that to me too and when the 30 day deadline approached I called them and told them that my previous employer was none of their business. They wouldn't back off so I told them to send my money back.
After I received the check closing the account and the original 30 day deadline passed I got the threatened notification that my (now non-existent) account was placed on hold.
Quote:
As part of your initial application, we did not receive information regarding your current employer, occupation or position. In many cases, this is because you have a status of retired, unemployed or self-employed. We are updating our records as part of our on-going due diligence to be compliant with our standards to support the USA Patriot Act.
Due to the importance of the USA Patriot Act, we have placed a hold on your account(s) until we can document this information for our records. No deposits or withdrawals can be made through your account(s) until we receive this information. We will release the hold upon receipt of this information.
Please provide us with your previous employer, occupation and position by sending an email with this information to fulfillment@fnbodirect.com. If this information is not received within 30 days, the account(s) may be closed. Your immediate attention to this matter is appreciated.
If you wish to discuss this further, please send an email to fulfillment@fnbodirect.com or call 877-370-3707. Please reference your FNBO Direct account number displayed at the top of this page when you contact us.
Thank you for choosing FNBO Direct for your Online Savings Account.
FNBO Direct Customer Service
A few hours later they sent another email apologizing for their error.
I'm glad I closed the account. I don't trust their procedures or their ability to keep track of money.
Who knows what stupid personal information they would demand next month?
After I received the check closing the account and the original 30 day deadline passed I got the threatened notification that my (now non-existent) account was placed on hold.
Quote:
As part of your initial application, we did not receive information regarding your current employer, occupation or position. In many cases, this is because you have a status of retired, unemployed or self-employed. We are updating our records as part of our on-going due diligence to be compliant with our standards to support the USA Patriot Act.
Due to the importance of the USA Patriot Act, we have placed a hold on your account(s) until we can document this information for our records. No deposits or withdrawals can be made through your account(s) until we receive this information. We will release the hold upon receipt of this information.
Please provide us with your previous employer, occupation and position by sending an email with this information to fulfillment@fnbodirect.com. If this information is not received within 30 days, the account(s) may be closed. Your immediate attention to this matter is appreciated.
If you wish to discuss this further, please send an email to fulfillment@fnbodirect.com or call 877-370-3707. Please reference your FNBO Direct account number displayed at the top of this page when you contact us.
Thank you for choosing FNBO Direct for your Online Savings Account.
FNBO Direct Customer Service
A few hours later they sent another email apologizing for their error.
I'm glad I closed the account. I don't trust their procedures or their ability to keep track of money.
Who knows what stupid personal information they would demand next month?
