AugustFour said:Is this 'Premium Online Savings' the same as the old 'Amboy Direct'? Mine says 'eSavings Account.' Current 'eSavings' interest rate: 4.0200%.
A CS rep confirmed this is a new product, different than the eSavings. I posted this in a new thread.

Anyone have personal experience with Premium Online Savings?

yomuppet said:Anyone have personal experience with Premium Online Savings?
This is the first time I've experienced you need to log on to 2 different accounts (eSavings and Premium Online Savings) to access each individually. They are not on the same page. The good thing is that they only require $1 to open and maintain.

Just a warning to those who did not read the disclosure carefully for the Maximizer account.

I have called Amboy Direct and asked if I will get higher tier interest on the days of the month that are passed should I withdraw the money later in the month.
The answer was that the interest is calculated daily and it will be calculated at the appropriate tier for that day regardless of the balance on other days and will be credited at the end of the month. I also double-checked with them that there is no minimum balance requirement.

So I went ahead and withdrew all the money on June 27. Lo and behold, I get a statement indicating that the account is closed and showing NO INTEREST WHATSOEVER for the month of June.

I just got off the phone with them. At first I asked the same questions about the balance and the interest and got exactly the same answers. Then I proceeded with explaining my situation. As soon as I did that, the tone suddenly changed to very cold: "Sir, you have closed your account on June 27 and you are not entitled to any interest if you close the account by the end of the month as was indicated in disclosure when you opened the account". I said that I did not ask to close the account and that I did inquire about the minimum balance, but I was again referred to the disclosure that supposedly indicates that the account is automatically closed if the balance drops to zero.

At this time I am unable to find the disclosure with those terms on the website. I suspect the only way to get that disclosure is to apply for a new account. At the moment I lost more than $100 in interest.

The best I could get out of CSR was that her supervisor will contact me. I will post the update once this matter is closed.