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Update on Amboy Direct's 6% 3-Month Promo for NJ and the Premium Savings Account Bonus

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Update 10/27/07: The 3-month intro rate has fallen to 5.50%.

For those looking to retain 6% after the HSBC Direct promo ends, you may want to try Amboy Direct's Money Market Maximizer Account. However, this 6% promotion is only for residents of New Jersey. I just called and confirmed this. Refer to my March post for more details of this Amboy money market account and promotion.

As I mentioned in the March post, those in New Jersey can open the Money Market Maximizer first for the promotion and then open the Premium Online Savings Account later to get the highest rates. However, according to the service rep, you can't transfer directly from the Money Market Maximizer to the Premium Online Savings Account.

Only those in New Jersey with at least $30K to deposit would be better off to start with this Money Market Maximizer Account since $30K is required to qualify for the 6% APY. Otherwise, you'll be better off with the Premium Online Savings Account. Refer to this post for more info on this savings account and the $25 bonus. One note on the bonus, your intial deposit doesn't have to be $3K to earn the bonus. You can transfer additional funds into the account after you open the account. The bonus is payable after you meet the minimum $3K balance for 3 months. Refer to my September post for more info on this.

Related Pages: New Jersey, savings account

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Comments
3 Comments.
Comment #1 by Anonymous posted on
Anonymous
I know Amboy will not accept any outside ACH pullS from the non-linked account but has anyone had experience pushing money into Amboy from a non-linked account?

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Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
According to the CSR, they do allow externally initated ACH pushes. But I don't have personal experience on this.

1
Comment #3 by Manish (anonymous) posted on
Manish
Some users may experience this scenario :
Be very careful when you try to signup for money market maximizer account. Some of the amboy direct web servers default the "Promotional Reference Code" to 400001 and you cannot change it, which is wrong. This code is for something else I beleive less interest account.
If see see promo code defaluted to 400001, then clear browser history and try multiple times till you hit the right servers which let you enter the correct 60603 ref code.

1