FNBO Direct is receiving a lot of exposure this week as it starts to heavily advertise its 6% online savings account. With news that it plans to target Orlando, Seattle, Phoenix and Boston for its marketing campaign, newspaper articles have been written about them in Orlando and Boston.
One stat mentioned in the Orlando article is that internet banks have pulled in $120 billion in deposits since 2000, and estimates are that they will pull in up to $400 billion by the end of the decade. This is not a huge amount when you consider Bank of America already has $760 billion in deposits (per FDIC data).
How successful has FNBO Direct been in attracting your money? I thought it would be interesting to create this poll to see the size of deposits that readers have at FNBO Direct. It's entirely anonymous so feel free to give it a try.
If your deposits fall on a boundary, choose the higher deposit level.
For a summary of the FNBO Direct savings account, please see my FNBO Direct account overview or for all of my previous FNBO Direct posts, please see this page.