A fabulous find, and GREEN for you, OP!

I opened late last night (and the two trial deposits are there) so hope get my account number by the weekend.

Tytie

Anyone know when they pay interest: end of month? anniversary date?

tooshy said:2 days lost interest from credit union to GMAC (using pull) Why are you losing interest when doing a pull into GMAC from you cu? Interest should start at GMAC the day they initiate the pull... which could be same day as you enter it, if you enter very early in the morning (see 76hhma's posts) or the next day if later in the day and then funds deducted from cu acct day after that. 2 days until available at GMAC though (next day from it leaving cu acct)

TYTBUDGET said:So how would you all recommend funding $200,000? Check Overnight? Wire? MH, you're here in California — did you mail by (some sort of) receipt so you have proof as to when they received it? Or is that immaterial? Can they just sit on the check? Is it California law that applies here . . . or Nebraska?

In many ways I'm tempted to just wire the thing (as soon as my Citibank branch opens + early in the week ) but I have to revisit what the limits are for Citibank in-branch-activated wire transfers.

How to fund how to fund . . . Chewy.

Tytie

I am in CA too. I will be mailing a check of $260,000 to FNBO within a few weeks. Have ur account no on check and also FOR DEPOSIT ONLY at back.

jennatx said:tooshy said:2 days lost interest from credit union to GMAC (using pull) Why are you losing interest when doing a pull into GMAC from you cu? Interest should start at GMAC the day they initiate the pull... which could be same day as you enter it, if you enter very early in the morning (see 76hhma's posts) or the next day if later in the day and then funds deducted from cu acct day after that. 2 days until available at GMAC though (next day from it leaving cu acct)However, for our local credit union the delay is two days. I always have used "immediate transfer" except once to FNBO where I "scheduled the transfer". I immediately record the transfer in my checkbook and so far, the date on my checkbook is two days before the funds are posted, and another two days before the funds are available.

For example, my transfers POSTED on:

05/11/2007 (transfer ordered immediate on 5/9), available today 5/15
05/03/2007 (5/1)
05/01/2007 (4/29)
04/27/2007 (4/26)
04/24/2007 (4/23)

Maybe I did the transfer after 12:00 est sometimes (but before 12:00 midnight local time), so that's why I thought two days. Ok, maybe I could shave a day by doing it earlier in the day and have it post next day (which is probably what happened in two of the above posts). But there is clearly more delay than push/pulls to other banks which credit same day. I don't recall having this delay with other transfers.

I'm thinking maybe the delay is caused by an individual checking account transfering into joint GMAC savings...which maybe a no-no w/FNBO, so that idea may be out the door.

update: I called FNBO direct and found out that the linked checking/savings account can be individual to joint, but the primary joint name must be the same as the individual account being linked. Darn I made myself primary so now either I have to open another account with husband as primary or move funds from his checking to my checking first then transfer. Our accounts are a mess already, this adds *another* twist to the whole mess.

76hhma said:mnsweeps said:I am in CA too. I will be mailing a check of $260,000 to FNBO within a few weeks. Have ur account no on check and also FOR DEPOSIT ONLY at back.

Please double check with FNBO-D: I think the daily deposit limit is $250K and daily withdrawal limit is $100K.
Thanks for that...

The daily/monthly limits are in the Disclosures, available through the link at the bottom of the FNBODirect page, right side, or here. There are limits "per transaction" as well - but it's not clear if this applies to deposits by check as well as by ACH.

"In addition, you may not transfer or withdraw more than: (i) $100,000 from your account in any one transaction; (ii) $100,000 from your account on any one business day; or (iii) $500,000 from your account in any one month. Additional limitations apply to withdrawals with an FNBO Direct ATM Card (those limitations will be provided with your card)."

If you find more information, let us know.

chuzzlewit said:

--------------------------------------------------------------------------------
My initial deposit of 10K was withdrawn from my credit union but there's no evidence that it exists in FNBO (not in summary, details, or transfer list). I'm having some serious second thoughts about using this account, it bugs me when my money is floating around in cyberspace.
--------------------------------------------------------------------------------

Same here.
After 3 days of not knowing where my money was, and my credit union statement showed the withdrawal, but *not* the destination, I got a little concerned and had my CU put a trace on it.
I thought it was interesting that 'Washington Mutual Bank' pulled the funds that were then deposited in my FNBO-D account.
Is this sort of thing common? I don't know what to make of it.
My only experience with on-line saving is with ING, and they always keep me informed.

I tried to fund my FNBO direct account with Emigrant Direct. Deposit varified successfully but my FNBO account didn't get funded by Emigrant Direct. Does anyone else has the same problem?

Can we not link up FNBO Direct and Emigrant Direct?

Thanks !!

mnsweeps said:I am in CA too. I will be mailing a check of $260,000 to FNBO within a few weeks. Have ur account no on check and also FOR DEPOSIT ONLY at back.

For those investing such high amounts, remember that some of the money may not be FDIC insured. I am getting around this issue by keeping a joint account and an individual account. The joint account gives me 200K of FDIC protection while the individual account adds another 100K. If you need more, individual account in your spouse's name will add another 100K of insurance.

The enrolling of the individual account following the joint account was somewhat non-intuitive. When I tried to enroll the individual account using the new account number, due to the shared social security number, it skipped the enrolling and asked me to modify the password of the joint account. So I called up the bank. Some idiot started giving me some nonsense speel about that I was not giving it enough time - i.e. I should wait for another 6 days. So I pushed harder and said that it should have come back with an error message and not take me to modification of the joint account. So he got somebody intelligent on the line. She directed me to basically add the new account to the userid of the joint account by logging into the joint account. The good part is that the individual account now already has access to previously verified ACH institution. Pretty sweet!

The really lame part - I started my ACH verification yesterday early in the morning. Unfortunately, I see the trial deposits happened late today - i.e. if I do an ACH pull, I would lose the weekend interest. Craps!