From the FAQs (select Q&As -- more on this page): * Can I close my account at any time?
Yes. You may close your account any time after we have received final settlement on all deposits made by you.
* How is the interest rate on my account calculated?
Interest is calculated daily and is compounded and credited monthly.
* Will I forfeit interest earned on the money in my account if I close my account?
No. When you close your account, all interest accrued will be paid without penalties.
* Is there a minimum balance requirement?
No. Interest will be accrued on whatever amount of money you have in your savings account.
* What determines the change in the interest rate?
The interest rate is variable based on the Bank’s discretion. The rate will change based on the current market conditions.Doesn't seem to say that this is an introductory period promo APY... but also doesn't say they can't change it in month 2... or on day 2, for that matter.
Still, worth checking out -- thanks, OP! You might want to add this to the "The Daughter of the Mother" sticky.
turrdog
Thrifty Member
posted: Feb. 14, 2007 @ 8:53p
Looks good, though I may wait to see if they throw everybody a $25 bone...
seems like a good one. I need to open a MMA for my dad soon
craig10x
Senior Member - 5K
posted: Feb. 15, 2007 @ 9:04a
I e-mailed them...they said you can only link 1 external bank account (like AmboyDirect) and transfers would likely take 3 days....If that is true, Amboy is faster, because they do them in 1 day usually....Otherwise, this account sounds ok...
RS4Rings
Back in Rehab
posted: Feb. 15, 2007 @ 9:21a
Nice to see more of these accounts, Should help keep the pressure on the others. First thing I would want to find out is if they do a hard pull
Right on main page (link above) they have a 3.99% for life of balance offer (if BT made in first three months, balance transfer fee of 3%, with a minimum of $10 and a maximum of $99)
They also have the usual 12 months at 0% $75 max BT fee.
If they do a hard pull may as well get a CC too.
CornHusker
Senior Member - 1K
posted: Feb. 15, 2007 @ 10:35a
FNBO offer ATM card, but seems need pay fee when withdraw...
Right on main page (link above) they have a 3.99% for life of balance offer (if BT made in first three months, balance transfer fee of 3%, with a minimum of $10 and a maximum of $99)
They also have the usual 12 months at 0% $75 max BT fee.
If they do a hard pull may as well get a CC too.
Never dealt with FNBO on deposit accounts, but I have been pretty happy with the credit card I got from them in my last AOR. They sent a direct mail solicitation for 1.99% for life, $75 max BT fee. It is worth noting that the minimum payment is 2% and they offer automatic payments. With your first statement they send you the form and you just send it back with a cancelled check. I was impressed that they offered it (before this I didn't even realise any credit card companies offered autopay) and I didn't even have to call and request a form.
craig10x
Senior Member - 5K
posted: Feb. 15, 2007 @ 11:50a
they seem like a nice bank....they were very prompt with their e-mail response to me....as long as you don't need more then 1 external bank link to them, sounds like they would be fine....wouldn't bother using their atm card for this account though, as they charge fees on their end and you would get hit by fees from the atm you are using as well....
RootGears
Member
posted: Feb. 15, 2007 @ 8:49p
scott1961 said: Nice to see more of these accounts, Should help keep the pressure on the others. First thing I would want to find out is if they do a hard pull According to Bank Deals it is only a soft pull.
ThursdaysChild
Missed.
posted: Apr. 26, 2007 @ 3:55p
They're still advertising 5.25% APY on Bankrate.com today.
*This Annual Percentage Yield (APY) is offered until September 28, 2007. The interest rate and APY may change after the account is opened, but will not be changed until September 28, 2007. Minimum balance to open an account is $1.00. Fees may reduce earnings.
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.
I either do it now or I do it later. I'm not gonna cry over a little lost interest. It's still a good rate even after the promo and I wanted to get away from HSBC anyway.
Has anyone tried using an external account like USAA to transfer in and out funds aside from the one account they let you ACH-link?
ThursdaysChild
Missed.
posted: May. 1, 2007 @ 2:40p
Zoot said: Has anyone tried using an external account like USAA to transfer in and out funds aside from the one account they let you ACH-link?You can link to 3 accounts, including (if you wish) the initial funding account.
chcui said: Just pulled all my money from HSBC and put it into FNBO... It looks like a very good deal.
Did you initiate this transfer from the HSBC site or from the FNBO site?
daneicy80
Member
posted: May. 1, 2007 @ 3:32p
Ok don't ream me out but I was going through the application kinda fast (I'm at work right now) and I'm not sure if I screwed up or not. When you got to the signature page did it prompt you to print anything out?? I didn't. The only thing I think it prompted me to print was the approval screen. Please tell me I didn't miss a step! I know usually you have to print out a signature card and mail it in.
chcui said: Just pulled all my money from HSBC and put it into FNBO... It looks like a very good deal.
I learned my lesson before -- don't give any "internet bank" any money you don't mind losing access to for at least 2 weeks. Just be careful out there. Between getting user names, account numbers, passwords, internet access to the account, etc., you can be in for a lengthy sign up process AFTER they take your money. I am speaking not about FNBO in particular, but the process in general (had a horrible experience with a bank in Florida not too long ago). As it is they put a 7 business day hold on your initial deposit which isn't a hardship usually....
(Edited to clarify the hold is on the initial deposit); also "You will receive your account number within two business days, and then you can enroll in your account." So, at least they commit to giving you an account number. I still would use caution since I don't know how long it takes to "enroll your account" after they give you an account number. Could theoretically take another few days if they "mail" the password to you after enrolling.
daregan
Ancient Member
posted: May. 1, 2007 @ 3:40p
How much affect do you think all of us pulling our money out of HSBC will have?
daneicy80 said: Ok don't ream me out but I was going through the application kinda fast (I'm at work right now) and I'm not sure if I screwed up or not. When you got to the signature page did it prompt you to print anything out?? I didn't. The only thing I think it prompted me to print was the approval screen. Please tell me I didn't miss a step! I know usually you have to print out a signature card and mail it in.
You missed nothing but you can go check the application status if you want by heading back to the website and typing in your name/social, etc.
No need to print out anything.
daregan
Ancient Member
posted: May. 1, 2007 @ 3:44p
You may want to print the sheet that says you have to send something in to prove your mailing address.
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.
Members of our community may attach files to a post in accordance with the User Agreement. FatWallet is not responsible for the content, accuracy, completeness or validity of any information contained in any attached file. Files have *not* been scanned for viruses. Be especially wary of Excel files which may contain malicious content.
