sfchris said:therivler1 said:iSpecK said:sweet, that was probably the easiest account sign up I ever went through. Had them pull most of the cash out of HSBC. We'll see how quickly it moves.

thanks OP
Not to be a monday morning quarterback - but that might not have been a good idea.

If the account takes a day or two to open, then they might initiate the transfer on Thursday (today is Tuesday, (for future clarity)). Depending on how they do things, you might not be credited with the money until Monday.

They allow wire transfers. You're crazy if you use ACH with a lot of money. Just wire it.Good point. With $100,000 @ 5.84% APR you earn about $16/day. FNBO only charges $10 for an incoming wire and $15 for outgoing. You've saving money even if you only save 1 day. Do you know if there's an additional charge from the bank that it's being drawn from?

Edit: I just spoke with HSBC and you cannot do an outgoing wire from the online savings account. Otherwise, an outgoing wire is $30 and incoming wire is $15. So, at $100,000 you're pretty close to break even at a 3 day transfer time. I guess it makes sense to wire if you have $200,000+.

possibly of interest:
"You may not transfer or withdraw more than: (i) $100,000 from your FNBO Direct Online Savings Account in any one transaction; (ii) $100,000 from your FNBO Direct Online Savings Account on any one business day; or (iii) $250,000 from your FNBO Direct Online Savings Account in any one month."

"Interest, however, will begin to accrue no later than the business day we receive credit for your deposit (typically, this will be 2- 3 business days after the first deposit is deducted from your funding account)."

https://www.fnbodirect.com/01d/html/en/about_us/online_savings_terms.html

Today I just opened a 5.5% APY MMA guaranteed until 12/31/07 with check-writing at a "local" bank [Ridgestone Bank]. I don't intend to close it since it offers a couple clear benefits over FNBOdirect. I think I will close my Geauga Savings account to open FNBOdirect and then decide whether to send a check to FNBO from my Ridgestone account for the balance over the minimum requirement. I may also close my Superior Savings 5.25% MMA. hmm....

Has anyone with TrueCredit [or some similar program] 100% confirmed it is not a hard pull? Do they usually show up instantaneously or the next business day?

This looks interesting a 6% through most of September. Most of my current AOR money goes back by then anyway.

It my understanding that FNBO = First National Bank of Omaha

Does anyone have an account already and know if its Yodlee friendly?

Cheers
Wizard83

samko said:sfchris said:therivler1 said:iSpecK said:sweet, that was probably the easiest account sign up I ever went through. Had them pull most of the cash out of HSBC. We'll see how quickly it moves.

thanks OP
Not to be a monday morning quarterback - but that might not have been a good idea.

If the account takes a day or two to open, then they might initiate the transfer on Thursday (today is Tuesday, (for future clarity)). Depending on how they do things, you might not be credited with the money until Monday.

They allow wire transfers. You're crazy if you use ACH with a lot of money. Just wire it.Good point. With $100,000 @ 5.84% APR you earn about $16/day. FNBO only charges $10 for an incoming wire and $15 for outgoing. You've saving money even if you only save 1 day. Do you know if there's an additional charge from the bank that it's being drawn from?

Edit: I just spoke with HSBC and you cannot do an outgoing wire from the online savings account. Otherwise, an outgoing wire is $30 and incoming wire is $15. So, at $100,000 you're pretty close to break even at a 3 day transfer time. I guess it makes sense to wire if you have $200,000+.

Don't forget, there are ACH transfer delays to contend with both going in AND going out, so it is most likely a minimum of 4 days lost interest we are talking about here. Even at only 4 days you still save money wiring 100k -- the real savings is the piece of mind is knowing they aren't going to pull an HSBC and keep the money over the weekend and turn it into 8 days lost interest or something. I really hate ACH, can't you tell? I'll stick to old fashioned wiring of funds where the vultures can't play their games and steal my interest.

Opened FNBO account last night, the trial deposits are in my BofA account this morning.

vegita2201 said:Did a lookup on yodlee and it looks like its there. Gotta wait until I get my acciount confirmation to confirm.
NOT IN YODLEE - Yodlee has the normal first national bank of Omaha accounts, but does not have FNBO Direct yet.

From their website:

Routing number is: 104000016

I also confirm that FNBOdirect is not in Yodlee.

So even if you push from a pretty fast source, like GMAC, FNBO still takes a minimum of 3 days to process the ACH transaction? IIRC, when I pushed from GMAC, the funds showed up at HSBC by the second day.

sfchris said: I really hate ACH, can't you tell? I'll stick to old fashioned wiring of funds where the vultures can't play their games and steal my interest.
Don't you have to go into bank to wire? I feel like such a wh#re having to go into a branch who have been good to me and take a chunk out. I just did the instant verification and funded with a $100. When account gets opened I will just mail a check from either my BoA AAA or NEA account. Might have hold but I was told they start paying interest as soon as funds are collected, Should have no lost interest that way