Amboy Direct Premium Online Savings - current tiered rates 5.05% / 5.10% APY

Amboy Direct is now offering a Premium Online Savings account. Current rates are tiered:
5.05% APY for balances up to $20,000
5.10% APY for balances above $20,000

Amboy Direct Premium Online Savings

I was able to confirm the following with a CS rep:
- $1 to open and no minimum balance required
- must be linked to a checking account and funded from that account (you cannot link more than one checking account)
- Amboy doesn't do a hard pull (they use the Chex System)

This is a new product offered by Amboy, and it's different than their eSavings and MM Maximizer products.

Edit by Moderator: Clarified Title

SweetCash said: This is a new product offered by Amboy, and it's different than their eSavings and MM Maximizer products.

good distinction. the MM discussion is here

Has anybody found a referral program for the Premium Online Savings account, like the one mentioned here for the e-savings account?

http://www.fatwallet.com/forums/messageview.php?start=40&catid=52&threadid=557883
https://www.amboydirectbank.com/referafriend.asp

I did a search but could not find anything.

K

Also does anyone know routing # since we could always do ach the other way

Quarterly statements are sent electronically and secured with your personal password.

^^^^^^^^^ that's weird. interest paid quarterly?

I've signed up for this account yesterday. Will let everyone know how streamlined the process was when I'm finished.

Link doesn't work.
"Bad Request (Invalid Hostname)"
This demonstrates their quality of service.

Does this bank offer any reference bonus or sign up bonus ??
If there is sign up bonus code, please advice.
If there's reference bonus program, please PM me if you are existing customer and is willing to refer me since I am intersted with open account with this bank. Thanks.

Thanks for the link! Just opened it online...just took a few minutes....great deal and rate! I linked it to my USAA Checking Account...perfect package...i will have the excellent banking services of USAA (great customer service, excellent web banking, phone banking and web bill pay, atm rebates, free checks and pretty decent savings rates in the 3% range) and i will keep the majority of my savings balance now in this new Amboy Direct account making a nice 4.75%....can't ask for a better combo...thanks again!

UnixLab said: This program is premium saving account. But this program is not listed anywhere on amboydirect.com main page. There's no link from main page to the page OP listed.

A hidden program ??
Might not be there yet because it's a brand new product. Let's give it a few days and see if it shows up.

woodsley said: use IE, don't use Firefox.

merrimac1 said: Link doesn't work.
"Bad Request (Invalid Hostname)"
This demonstrates their quality of service.

unless you have a valid proof for this, don't blame firefox. i used firefox and there's no any problem.

Does this wording mean anything?

Minimum to open an account is $1, maximum deposit is $250,000. Source: Ratewatch Sruvey 4/14/06. APY's based on $20,000 money market deposits and subject to change at any time.

evanm said: Minimum to open an account is $1, maximum deposit is $250,000. Source: Ratewatch Sruvey 4/14/06. APY's based on $20,000 money market deposits and subject to change at any time.
That's just the number used for the Ratewatch survey...

woodsley said: I tried Firefox and it gave me the same error.

I have Firefox v1.5.0.2 (recent version) with Windows XP...just opened an account with no issues at all.

TellMeWhy said: i hope it's okay that i ask.. but how many banks do you all bank with? (or how many banks do you have accounts opened with?) i'm trying to convince my husband that it's not bad to have several accounts opened. any help would be greatly appreciated.
I have ten savings / checking accounts. As long as you can manage them, it's fine. Close the ones you don't need.

any ach capabilities from this account?

Should I get in or not? May be I will wait a few days before i get into this.
Those who have already done it, how is the experience? Never heard of this bank before!!
Any Information appreciated..

So, you can link one checking account to draw money from, can you also push money back to that checking account FREE using Amboy?

Also, any more feedback from those who took the plunge?

CornHusker said: It will hold like ING

Electronic deposits made to your account will begin to accrue interest 2 business days after the deposit is made and will be available for withdrawal after 5 business days. Every day is a business day, except Saturdays, Sundays and Federal Holidays.
Electronic transfers to your non Amboy checking will generally be at your bank within 2-3 business days.

Wow. 2-3 days is pretty long (almost as bad as HSBC Online Savings). Does anyone know if this is because they use a third party ACH transfer company like CashEDGE (like HSBC)?

A clear indicator of this would be if they require you to log in a second time to access the bank transfer section of their site.
-g

UnixLab said: TellMeWhy said: thanks for the quick response! any others want to share?? so far my husband and i have only three banks that we are currently banking with. he says that it is getting ridiculous as i am 'rate-chasing' (as you guys would put it). i don't see any harm.

Does your husband still use Windows 3.1 ?

btw, does anyone know about amboy's closing of accounts policy? is there any charge or certain timeframe? i couldn't find it on the page.

I found out the same thing. The page is short of detail information on this new program.

very funny! anyway, i suppose i need to call them and ask them about that information before i open one.

Anyone getting pop-up ads from the amboydirect.com site? The new page that opens if you click on border white areas bring up a company called 24/7 Real Media. I'm hesitant to apply with this weird behavior on their site. Also, when I try to enter my promo code for the $50 bonus for new account with eSavings, I erase the 400001 in there already.