FNBO Direct 6.00% APY until 9/28/2007.......

[redgtxdi]

Didn't see this posted so here goes..........

www.fnbodirect.com



They're legit............BUT.............I think the more important question for each individual is............

Is it worth the hop???

Is 6.00% 'enough' of a jump from 5.05%???


And FWIW, it appears as though their rate will be 5.25% after the drop. (Assuming there isn't any bait/switch involved or some weird world tragedy doesn't happen.).

 

[crimson117]

Seems good! Might switch to them once I get my finances in order.

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

(nothing strange here, just FYI)

 

[redgtxdi]

What about carrying more than one MM account??

I use Emigrant right now, but being that it's 5.05% vs. 6.00%, it's enough to tempt me to move......(but, I also use Emigrant's 1.4% cash back MasterCard, so I need to keep a $10K minimum to earn the 1.4%)

But looking at the #'s......

If, for example, you're moving $40K, you can earn yourself an extra $20/month.

If, however, you're only moving $5K, you'd only earn an extra $2.50!


??????

 

[kaborka]

I'll give them a try. I was going to get a short term CD, but this is mo'bettah. Thanks OP!

NB: It looks like they do a hard credit pull for the application. They reported some recent loan apps obtained from my "credit data". However, none of the loans were mine. This has me spooked, and I'm tempted to have a look at my credit report.

Edit: I used the https://www.annualcreditreport.com/cra/index.jsp">annualcreditreport.com</a> site to check my reports. Equifax reported no recent hard pull. I was thrown when the FNBO site asked the bogus loan questions as part of the identity check. One of the other finance threads complained about Countrywide doing a hard pull to open an account, so I was worried.

 

[kaborka]

Rate now down to 5.05.

 

[brikis98]

6.00% is tempting... are these guys reliable? any way to check their history and make sure this isn't some BS fraud?

 

[hofan41]

Just got an email from HSBC saying their rates are going from 5.05% to 4.50%. Time to move!

 

[Pabster]

FNBO is going from 6.00 to 5.05. Still the highest that I'm aware of for a liquid HYSC, FDIC insured.

EDIT: Without any minimum balance requirements or fees.

 

[I4AT]

Originally posted by: hofan41
Just got an email from HSBC saying their rates are going from 5.05% to 4.50%. Time to move!

Ditto, anyone have experience with FNBO? Is it as easy to move money as it is with HSBC?

 

[Engineer]

Originally posted by: I4AT

Originally posted by: hofan41
Just got an email from HSBC saying their rates are going from 5.05% to 4.50%. Time to move!

Ditto, anyone have experience with FNBO? Is it as easy to move money as it is with HSBC?

I've been with FNBO for about 3 months. Moving money is easy and setting up transfer accounts is a snap, especially if they are like HSBC, etc. You can do a two transfer verification or simply give them your login and password and they will give you an instant verify. Transfers are slow, IMO, at a full 3 business days. Also, if you initate a transfer near the weekend, they get the float of the two days of the weekend and you get ZERO interest during that time.

Still a great bank to work with, IMO.

 

[daveybrat]

Last i checked, but GMACbank.com is still offering a 5.30% on money market accounts. One of the best i've seen lately.

Highlights of the GMAC Bank Account

$50 minimum to set up
No periodic fees if your balance stays above $500 (GMAC Bank charges hefty fees if you fall below that amount, so be careful)
FDIC Insured up to $100,000
Check/Debit Card available
50 free checks from GMAC Bank (you?ll have to pay for reorders)


I'm thinking of moving my measly .05% savings account over to this.

 

[phios]

I have GMAC myself and the rate is now 4.90 APY. The .4% drop made me look at other banks, but nothing I've seen so far makes me want to switch.

 

[Capt Caveman]

etrade's savings account is still 5.05%

 

[PingSpike]

They'll all probably follow suit in time. I'm thinking I may wait a couple weeks for it to shake out. I'm leaning towards etrade since they offer CDs as well and I'd like to not have my money with a million different banks. (not that I have much right now)

 

[Delerious]

HSBC blows

 

[Engineer]

FNBO is going down to 5.05 after Friday (per an e-mail).

 

[Caminetto]

What do you guys recommend here? I have money with HSBC and have been happy with them but don't like the half of a percent drop. I am wondering if the rate won't be back up in a month or two. It seems strange since the market seems to be doing well.
If I went with FBNO, will I be able to transfer funds directly from the HSBC account or should it be transfered back into my bank account and then transfered to FBNO?
Has FBNO maintained a fairly consistent rate during the last year or two?