Comments on: FNBO Direct Review and Account Opening Process

By: dave

dave — Mon, 02 Mar 2009 21:31:45 +0000

Found setup process a bit messy. No emails received after completing registartion & trial deposits. Security questions presented on first login attempt were not the ones I chose.

By: Joe

Joe — Wed, 26 Nov 2008 23:33:34 +0000

In regards to the long wait time for transfers into and out of the FNBO Direct online savings account; I found that if I push or pull the money from my linked checking account instead of using the FNBO Direct transfer option the funds are transferred within one to two business days. Of course the transfer time will differ for each financial institution and you also have to be aware of any fees that your bank might charge for the transfers. It’s an option that has been working well for me so far and has gotten me a few extra days on interest accrual. Otherwise FNBO Direct has been great!

By: jeff

jeff — Thu, 04 Sep 2008 19:37:29 +0000

Is it as easy to create sub accounts with FNBO as it is with ING Savings?

By: Melissa

Melissa — Mon, 04 Aug 2008 22:20:19 +0000

I’ve had an account with FNBO for over a year and I love them. Other than the lengthy transfer time, I’m happy. I also like that they have B&M locations in my area.

And in response to Ken, FNBO dropped their rates only after the Fed drastically cut rates, and they were the last of all major online banks to do so.

By: Bob

Bob — Thu, 31 Jul 2008 16:23:54 +0000

Only thing against me agreeing with your use of FNBO is that they are also listed as a sponsor on your site.

By: Jonathan Gowins

Jonathan Gowins — Thu, 31 Jul 2008 15:29:31 +0000

Sounds like FNBO is really taking off; slick online interface too. I definitely understand chasing good rates and hopefully being able to stick with a solid financial institution that provides them, but I don’t understand why so many people don’t get the highest rates. Example: I work for a Credit Union and we have a checking account that right now offers 5.25% APY up to 25k in balances. I personally consolidated all my money into that account because of the rate. Are people not aware of rate deals like this or is there another reason they don’t sign up for them?

By: Ed

Ed — Mon, 28 Jul 2008 23:18:53 +0000

I have an FNBO account and ING. I love the interface and ease of ING, especially electric orange checking.

Haven’t had any problems with FNBO, but the transfer time between accounts is excruciating!! It take a week on average to get funds moved. If you start on a Monday you will probably see the transfer by Friday but any other day it is full calendar week with the weekend factored in.

ING is 2 business days, usually. I do find it odd though that they hold the electic orange money for another day and savings for about 5 (I guess that might be the same time difference as FNBO) but at least I am earning interest during that time.

By: ken

ken — Mon, 28 Jul 2008 22:51:35 +0000

FNBO offers “promotional” interest rates that reset lower, frequently.

Rate-Chasing with new accounts doesn’t seem very useful as a personal banking strategy.

Always ask ‘why’ a bank is offering better rates than its competitors. You want bank that’s stable & secure, as well as offering reasonable interest rates.

Bank failures are a very real risk these days.

By: Jeremy

Jeremy — Mon, 28 Jul 2008 13:42:31 +0000

I’ve had an account with shore bank for almost a year. They consistently have the highest rates, currently 3.5, and many of the same options. They have been quick to raise rates and slow to drop them.

By: Margaret

Margaret — Mon, 28 Jul 2008 12:24:46 +0000

I also opened an FNBO savings account this weekend. Just now, I verified my trial deposits. Hopefully they’ll pull my funding deposit tomorrow, and I’ll have a shiny new account. I left ING sometime ago when Emigrant Direct came along. But when ED’s rates started dropping I opened a Countrywide SavingsLink account, which is currently paying 3.55%. I don’t expect that to last much longer, so I was happy to find the FNBO 3.5% account — and a bank with a high rating. I expect to close my Emigrant Direct account within the next few days.

By: Angie

Angie — Mon, 28 Jul 2008 11:01:19 +0000

Over the past year and a half or so since I’ve had an FNBO Account it has continually held the highest interest rates out of all the banks. It was the last of 5 online accounts to drop their rates down this winter. They remained at 5% through around february or march I’d like to say. So its a good one to have around. Haven’t tried out the BillPay Account yet. But on first glance it doesn’t seem to have all the ease and flexibility of an Electric Orange account through ING.