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My Experience Opening FNBO Direct's 6% Savings Account

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FNBO Direct
The 6% APY no-minimum savings account with the rate guaranteed through 9/28 was too good to pass up. So I signed up for the FNBO Direct Savings Account last night. For those still deciding, check out my review of FNBO Direct. Below are some notes regarding the application process.

The nice thing is that it's all online with nothing to send in if you don't have any problems in the application or account verification. The signature card which includes your backup withholding status is all online.

As one of the commenters mentioned from my yesterday's post the online application seems to be longer the typical application. In addition to the usual questions, it asks for employment details, banking and account usage info and account activity plans. It was no big deal for me, but it was a little annoying.

You might have noticed similarities between this application and others. FNBO Direct contracts out this online banking system to CashEdge which is common among many online banks. It's probably better when banks do this since CashEdge has the experience to ensure the process is secure and reliable.

You can choose if you want an ATM card. I didn't choose one since there is a $2.50 withdrawal charge for non-FNBO affiliated ATMs.

You can do the initial funding electronically or by check. I chose electronic funding using my HSBC account. They allow you to chose either a checking or savings account. The minimum allowed initial deposit is $1 and the maximum is $250K. You can also check if you want this account to be used for future funding. (Their FAQ states you can link two additional accounts)

It provides two ways to verify your external account: immediate verification and the trial deposit method. For immediate verification you have to give them your external account's login ID and password. Even though it states that your credentials are completely secure and are discarded once verification is complete, I'm not comfortable giving out this info. Plus, I wonder if it could even work with HSBC's new login system. Thus, I chose the typical trial deposit method. If you do decide on the immediate verification, you might want to change your password after the verification just to play safe.

Finally, it displayed the application summary that can be printed for your records. Last night I received the email from FNBO confirming my approval. I'll now have to wait for the trial deposits. For those who also have applied or who already have account access, your comments about your experiences are much appreciated.

  Tags: FNBO Direct, savings account

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Comments
62 Comments.
Comment #1 by scott (anonymous) posted on
scott
I found the application pretty easy and do like the instant verification. I have a little checking account I use for things like this and just opened with $100. I don't mind giving the password to it and just in case I change it after the funds are pulled. Once account is opened I will mail a check from my BoA AAA account so no lost interest. The only question I have is can you list beneficiaries by either POD or ITF. Sent an email and waiting for answer

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Comment #2 by Anonymous posted on
Anonymous
Another reader commented "For those switching from HSBC to FNBO online savings account, a warning ... HSBC advised me that they charge a $25 fee if you close your account within the first six months."

Did you come across this? Or did you just leave your account open and unfunded?

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Comment #3 by Anonymous posted on
Anonymous
you can leave your HSBC account open and unfunded. i have confirmed that. i also found the process easy on FNBO.

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Comment #4 by Anonymous posted on
Anonymous
One other thing about giving your login credentials (to an external a/c) for making the initial deposit is that you are not expeted to share it with anyone else as per your agreement with most bank's online access agreement. So in future, if there were to be unauthorized online access to your other a/c, they could potentially throw that at you.

I never feel comfortable about doing that. Always use the trial deposit method.

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Comment #5 by Anonymous posted on
Anonymous
I opened an account a couple of months back and the process was pretty smooth. At that time you could only link 1 account but you can now link 3 accounts. The only problem I have with the account is the turnaround time for ACH. They seem to use the same system or the same timetable that HSBC does (3 days). Other than that, the site isn't very flashy but it gets the job done. DEFINITELY worth the 6% which you get even if you already have an account!

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Comment #6 by Anonymous posted on
Anonymous
Opening an account takes forever. It took me 10 days (signed up 2 weeks ago).

After you verify the trial deposits they still have to to pull your initial deposit and wait till it arrives. After that, you have to add an external account that you want to use for funding / withdrawing funds. That account again has to be verified through trial deposits, even if it is the same account you already verified when you first signed up. Also, they seem to be keeping the money for a couple of days before they credit it to your account. It took me 4 business days and after that they send you some email saying it's almost done and that they need another day. However, the money has been withdrawn long time ago from my checking account.

I like the fact that everything is done Online and also no annoying paper statements. The extra sign up questions were a pain and totally unnecessary. Took twice as long as usual. I'm also still trying to figure out why they have to review your account before allowing you to open it. Maybe to make you feel special once you "got in"?

mike

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Comment #7 by virgquest (anonymous) posted on
virgquest
I had basically the same experience as banking guy with the FNBO setup. I was happy about the paperless setup and I didn't really mind the extra questions.

I signed up at around 8 PM last night and the trial deposits showed up in my funding account today.
Very speedy. Too bad their ACH transfers don't go as fast!

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Comment #8 by virgquest (anonymous) posted on
virgquest
Follow up - I logged back in to verify the trial deposits. After confirming everything, the screen said I would have my account info in 2 business days. ::crossed-fingers::

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Comment #9 by Anonymous posted on
Anonymous
I signed up for an account this morning, but verification of my information could not be completed. However, I was able to set up all information requested. I called up customer service (very friendly). She determined that since I have an unlisted phone number, the verification could not be completed automatically. It will be done manually.

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Comment #10 by Anonymous posted on
Anonymous
I dont like the fact that they keep our money interest free for 2 to 4 days every time we do a transfer.

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Comment #11 by Goldie (anonymous) posted on
Goldie
My experiece is mirror to virgquest's posting. The trial deposits were there the next day.

Scott, CSR said they do not have POD at this time. Several requests for beneficiary forms,(including myself) is in the making. CSR mentioned they will be working on POD but could not give me a date at this time. As of today,the only option is joint or individual. For now, Im thinking I will put all my info linked to this account in my saftey deposit box for my loved one as a temp back up.

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Comment #12 by Jeff (anonymous) posted on
Jeff
I started the application process yesterday and, as others have indicated, found it very easy to use. Today, the trial deposits already showed up in my other account.

Perhaps others didn't have this issue, but I tried Enrolling back on the website in order to verify the deposits. I typed in my application number and I kept getting rejected. I called and got through to a CSR quite quickly (no more than 1-2 minutes). She advised me that you can "Enroll" on the website after you receive your account number, which is different than your application number. The account number comes via e-mail after you verify the trial deposits, which you can do through the "Return To Application" tab on the home page. I was trying to do it the other way around.

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Comment #13 by Anonymous posted on
Anonymous
Does anyone know the answer as to whether state income taxes on the interest earned on this account are payable to more than one state, that is - the state where the depositor lives and the state where the bank is located?

Also does an additional income tax return need to be filed for the state where the bank is located?

Is there some rule regarding online bank account interest that anyone knows about which would clarify the matter regarding state income taxes?

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Comment #14 by David (anonymous) posted on
David
I opened it giving them my credentials to hsbc, and it went very smooth. However, I *did* change my credentials before the verification (password was change to fnbodirect1) and then after it was verified, I changed the credentials back.

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Comment #15 by David (anonymous) posted on
David
And... state income tax is based on residency. If you are an individual not resident in Ohio, it does not matter that your interest was earned on an Ohio deposit account. The tax is paid in your state of residency (and on your federal return).

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Comment #16 by Anonymous posted on
Anonymous
Could someone confirm if a hard credit pull is done?

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Comment #17 by Anonymous posted on
Anonymous
I opened 2 accounts last night, today they are opened and waiting for the initial first deposit.
I am impressed!!!!!!!! Great find!!

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Comment #18 by Anonymous posted on
Anonymous
Having problems completing application from here in Los Angeles due to a loop in the application process. I called FNBO, and their tech department informed that they are having problems due to high traffic on their website. Is anybody having this problem?

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Comment #19 by Jonny C. (anonymous) posted on
Jonny C.
I signed up last night at 11pm. I got an e-mail at 3:30am saying my account was opened. I too used the Instant Verification when I did the application. I then went into my bank's website and changed my username and password.

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Comment #20 by Anonymous posted on
Anonymous
We found the online application to be difficult if you make a mistake. Changing from single to joint account is almost impossible. Talking to a live person and getting the problem fixed is worse than trying to fix the first mistake. We are still waiting for some kind of confirmation on either the account type change or application confirmation. Not a good experience and days are ticking off for this short term 6% rate. We are in limbo...hope others have better luck...

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Comment #21 by Anonymous posted on
Anonymous
I was told that it was not a hard pull on the credit by 2 different CSR's. I found their customer service line to be very quickly answered. I did have a difficult time trying to get back into the application to fill in some areas that I had to skip over because I did not readily have the info they wanted. However, the CSR did walk me thru it and we got the problem solved.

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Comment #22 by Anonymous posted on
Anonymous
test: Why can't I post a comment?

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Comment #23 by Anonymous posted on
Anonymous
OK, there you go, finally it lets me as anon. Here is what I was saying: I got an email response about the soft pull by FNBO:
"A soft inquiry will show on your credit bureau since we are verifying the information on your application."

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Comment #24 by María (anonymous) posted on
María
One more thing: The instant verification only works if you've had a check order in the past few days. I was having trouble with that, I called them and they said that's the reason. An inconvenience. I had already changed my pwd at my bank. Sigh!

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Comment #25 by Anonymous posted on
Anonymous
Today I tried to use Emigrant and HSBC to fund our new joint acct online. They couldn't verify either account so I had to resort to trial deposits. I have to wait to see how long that will take. I tried using HSBC and Emigrant thinking they wouldn't encounter additional security features like site recognition items or other features used by Countrywide. I'm hoping that won't be a problem after account is opened.

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Comment #26 by lvc.iii (anonymous) posted on
lvc.iii
I opened an MMS account with FNBO in March of '07 and I got my credit reports in April of '07 (all three) and I can confirm: FNBO does not do a hard pull.

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Comment #27 by Anonymous posted on
Anonymous
When I clicked the link to open the account I got a page with this:

Your Application Timed Out

For security, your application has timed out. Please click the button to retrieve your application. If you are unable to retrieve your application, you will need to start over.

Retrieve Application

I tried over and over but always get that... Anyone else have such a problem?

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Comment #28 by Anonymous posted on
Anonymous
I was able to use my HSBC account for instant verification just fine. I immediately changed my password and security phrase after I did this (since the instant verification asked for both pieces of info).

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Comment #29 by Jim (anonymous) posted on
Jim
I tried funding the account immediately via GMAC Bank but it didn't work so I had to resort to the trial deposit method. The funds were in GMAC Bank the next day. Like Jeff, I wasn't certain how to verify the deposits and tried logging in with my application number. I called customer service this afternoon and got through right away. You have to select the "Return to Application" tab and then select the "Sign in to an existing applicaiton" radio button to complete the process. I received an e-mail notifying me that my opening deposit has been processed but was only presented with the last four digits of my account number. You need your full account number to log in to your account. I guess I'll have to wait a few days based on the other comments. I was frustrated with HSBC regarding the delay in posting deposits. I assumed that since the FNBO trial deposits posted so quickly that they wouldn't hold the funds in limbo like HSBC does. We'll see.

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Comment #30 by Anonymous posted on
Anonymous
FNBO asked me for address verification, What the shizzle is that all about?? I mailed my phone bill (not cell phone). I also got quick response and verified trial deposits. I doubt I will get my account number until next week. Thanks god for WAMU.. I can earn 5% while waiting.

Best Regards,

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Comment #31 by Anonymous posted on
Anonymous
About the "Your application timed out" question:

Is your browser blocking cookies from the web site?

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Comment #32 by Anonymous posted on
Anonymous
I just enrolled yesterday using the instant verification and just received an email saying that my Direct Account is available online.I've had no problems. I was looking at their FAQs and it states thatit takes 2 to 3 business days for a transfer to be completed . It also says that interest does not begin to accrue until after the ttransfer is completed. I was wondering what happens to the interest for those 2 or 3 days? Do you get interest at the old bank where you're transfering the money? Or you don't receive any interest from any bank for those 2 days? The same thing when you cash a check to yourself. I have some money at Everbank that I was going to transfer. Is it better to wire it or try to ACH it ( there is a $10,000 a day , $50,000/month limit)?

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Comment #33 by Anonymous posted on
Anonymous
jim said... I was frustrated with HSBC regarding the delay in posting deposits. I assumed that since the FNBO trial deposits posted so quickly that they wouldn't hold the funds in limbo like HSBC does. We'll see.

Trial deposits are always fast since it's pretty much a direct deposit - on the other hand - seems like they use CashEdge for 3rd party ACH - just like HSBC - so, look forward to more holds and frustrations as your transfers get stuck in the hedge...

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Comment #34 by Anonymous posted on
Anonymous
I experienced the same timeout issue. The solution, at least for me, is to use Internet Explorer instead of FireFox as the browser.

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Comment #35 by Anonymous posted on
Anonymous
I can confirm that pulls take as long as HSBC to show up in the account. The pulled account is debited quickly, but there is a two business day lag before the deposit is "credited" to the account (Cashedge). The best days to pull are Sunday thru Tuesday to minimize any lost interest.

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Comment #36 by Terry (anonymous) posted on
Terry
So far, the process has been smooth. I have an account number and access to my account. Only problem I have run into is that they are making me do the trial deposit thing a second time, even though I clicked the save my funding account option on my initial deposit. Either I missed the instant verification option some have mentioned, or it wasn't offered to me? I have got this far in only 2 days, without calling customer service, and that is remarkable from my experiences with openning some online accounts. I will keep my fingers crossed that it keeps moving along without a hitch. I will let everyone know when the process is complete.
Terry

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Comment #37 by Kevin L. (anonymous) posted on
Kevin L.
"Anonymous said... I have some money at Everbank that I was going to transfer. Is it better to wire it or try to ACH it (there is a $10,000 a day, $50,000/month limit)? (5:59 AM, May 03, 2007)"

Regarding EverBank, I've spoken with them a couple of times, and I've learned that there are 5 options for transferring funds out of EverBank, which I've ranked from most appealing to least appealing (in my opinion):
(1) Use Web Bill Pay-- Sign up for this service, and then designate FNBO as the "payee"; EverBank said that there is no fee/charge for this as long as you have at least $1,500 in your account, and there are no limits on transactions, but a transaction could take up to a week to be completed.
(2) If you have checks with your EverBank account, write a check to FNBO-- EverBank said that there is no fees/charge for this, and the funds should be transferred within 2 business days after the check is cashed by FNBO.
(3) Wire funds-- EverBank charges a $25 fee for outgoing wire transfers (and I believe that FNBO charges a fee of $10 or so for incoming wire transfers), but the funds are transferred within 1-2 days.
(4) ACH/EFT transaction-- EverBank charges a $10 fee for this, and, as you mentioned, EverBank imposes limits (daily and monthly) on ACH transactions.
(5) Close your EverBank account, have a check sent to you, and deposit the check into your FNBO account (directly or via deposit through another account)-- To do this, send a letter to EverBank, requesting that they close your account; this transaction could take up to a week after EverBank receives your letter.

One final note: Whichever option you choose, make sure that you speak to EverBank about their rules regarding a $1,500 minimum balance, in order to preserve all of your interest accrued in each month.

Good luck!

Kevin L.

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Comment #38 by Anonymous posted on
Anonymous
after verifying the trial deposit, do you just wait for your initial deposit (they asked you how much you want to open the account with during application) to show up on your FNBO, or do you have to initialize from FNBO to transfer the initial deposit you specified to your FNBO account?

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Comment #39 by Barbara (anonymous) posted on
Barbara
To answer a previous question, you just wait for your initial deposit to show up.

Be sure you don't use Mozilla to set up the account. Although their website says it's ok, they acknowledged that there's a problem. I started an application, then tried to finish it later. It wouldn't let me access it or start over. A supervisor had to note my file and delete the partial application. Also, I didn't like the statement in the app that told me a check of my credit report revealed I had recently taken out loans. They get lots of calls about that.

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Comment #40 by Anonymous posted on
Anonymous
I am amazed at how quickly the application process is proceeding. I filled out the preliminary questions last night about 9pm and early this morning the 2 small deposits to my home bank had been completed. I just received another e-mail that the original deposit of $1.00 was completed also. I called the CSR to confirm my FNBO account number as they only gave me the last 4 numbers of the account. I was told that I should receive the full account number this afternoon and then I can make the big deposit and start gaining the 6% savings yield. Thanks so much Banking Man.

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Comment #41 by Anonymous posted on
Anonymous
When I opened a joint account I couldn't enter my spouse's info until I changed the employment status from "unemployed" to "retired". Go figure.

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Comment #42 by Anonymous posted on
Anonymous
Ken - Like you, I opened an acct with FNBO and plan to fund it from my HSBC online savings account. I have set up FNBO to make trial deposits into my HSBC account to complete the verification process. (I set up the trial deposits around 1:00 a.m. today and they haven't shown up at HSBC yet.) My question is: Can I then perform the initial funding pull from the FNBO side without having to "add an account" on the HSBC side? I called HSBC's customer support line and the CSS rep wasn't really able to tell me if HSBC will allow the pull from an external bank without having before hand adding the external account. I would not have a problem adding the external account, but I don't know the account number yet -- and won't until the initial funding is complete for the FNBO account.... thanks.

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Comment #43 by Anonymous posted on
Anonymous
Ken - Like you, I opened an acct with FNBO and plan to fund it from my HSBC online savings account. I have set up FNBO to make trial deposits into my HSBC account to complete the verification process. (I set up the trial deposits around 1:00 a.m. today and they haven't shown up at HSBC yet.) My question is: Can I then perform the initial funding pull from the FNBO side without having to "add an account" on the HSBC side? I called HSBC's customer support line and the CSS rep wasn't really able to tell me if HSBC will allow the pull from an external bank without having before hand adding the external account. I would not have a problem adding the external account, but I don't know the account number yet -- and won't until the initial funding is complete for the FNBO account.... thanks.

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Comment #44 by Tom (anonymous) posted on
Tom
Does anyone know if you can download FNBO Direct transactions to Quicken? Thanks

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Comment #45 by Anonymous posted on
Anonymous
Does anyone know the answer to my problem? I opened a joint account for my 18 yr old son and myself at Umbrella last week and was told to send ID's and Utility bills. (He is primary-his college money) I tried today to open FNBO same situation and they refused to open the account. They opened one for me 2 days ago no problem. I wonder if it is because his licence as an issue date -which i gave but also duplicate issue date-just wonder if the records show the duplicate date. I hate to keep getting rejected if its something like that. Any ideas-he has enough money in his name from Grandma to make the banks happy to have him!

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Comment #46 by nytrader (anonymous) posted on
nytrader
Hah; can you belive FNBO didn't approve me? I can't wait to hear their reason for this one. Maybe they know me better than I know myself.

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Comment #47 by Anonymous posted on
Anonymous
nytrader said...can you belive FNBO didn't approve me?

Didn't approve you with a soft inquiry is almost unheard of - if they do a hard or Chexsystems then that's a horse of a different color - I'd check my credit and Chexsystems reports (especially Chexsys) - to make sure you're not flagged for fraudulent bank activity - good ol' Patriot Act - don't go around opening up too many accounts now, ya hear?

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Comment #48 by Terry (anonymous) posted on
Terry
Today (day 3) I received my second trial depost to set up my external funding account. Did that and have initiated my first transfer (besides openning deposit). Now for the wait to see how long it takes to show. Everything is still moving along well imo.

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Comment #49 by Anonymous posted on
Anonymous
Just letting you know, I did the ACH transfer from HSBC. Money left HSBC 5/2 and arrived in FNBO on 5/4, so 2 days of lost interest. I transfered about $82k, so I wonder if there was a better way w/o losing so much interest.. anyone know?

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Comment #50 by Anonymous posted on
Anonymous
actually, I only lost about $20 interest on that, so a wire transfer fee or whatever probably would've balanced it out. i'm just glad it's deposited and i can just watch it grow til september!

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Comment #51 by goldie (anonymous) posted on
goldie
Thank you kevin l. for your opinions with Everbank.
My 6% intro rate does not expire for another month. I agree with you by using Web Bill Pay to fund FNBO, not forgetting to leave in 1500.00. My checking experiences with Everbank so far has been great and don’t want to cancel it just yet. I am hoping that the long term services will outweigh the $50.00 bonus for not being satisfied. We’ll see. I have been wrong in the past.

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Comment #52 by Anonymous posted on
Anonymous
The supposed credit check is fraudulent. There is nothing in any credit report about me that could have produced the statements contained in their "your credit file suggests." An officer of the bank insisted that this was a security check mechanism and refused to give me the name of the pertinent regulatory agency by phone. I wouldn't advise anyone to do busdiness with an outfit with such a shoddy practice.

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Comment #53 by Anonymous posted on
Anonymous
it's equifax you whiner. chances are there was just an issue in the application process. i see it all the time.

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Comment #54 by Adela (anonymous) posted on
Adela
Hello, I was fascinated with all the useful comments about FNBO and its fantastic rate of 6%. I appreciated so much Banking Man's investigation of the bank too...
But I was ready to open a savingts account as an IRA but was told on the phone that they don't accept IRAs. I'm SO sorry. I called twice hoping the first one made a mistake.. I was able to open that 6% 3-month money market at EverBank though, but not here. If anyone knows of another great rate like this, please let me know? Thanks. Adela

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Comment #55 by John B (anonymous) posted on
John B
Can anybody tell me what the routing # is for HSBC Direct? Since they don't issue checks and I can't find it anywhere on the HSBC website, I am at a loss. I've opened an account at FNBO and would like to pull funds from my HSBC account.

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Comment #56 by Anonymous posted on
Anonymous
If you go to the terms and conditions and read any of the CAPS paragraphs in the terms it basically states that they can do anything they want without being liable: take along time to deposit funds, make profit from any and all information you give them, change the interest rate and they are not responsible for any mishaps due to the internet site not working or anything else not working for that matter.

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Comment #57 by Anonymous posted on
Anonymous
I am frustrated with FNBO's opening process. I filled out the application online. Verifyed the two deposits, then tried to transfer the big amount. I kept being told I had to verify the Bank so I re entered the bank name and routing numbers. Still would not let me transfer any money. I called numerous times only to be told to wait 3 more days. Now 2 weeks later I still cannot fund the account. They said I shouldn't have verified the account because that just kept starting me over. Now two weeks later I am once again starting over. They need to change their computer program to either allow you to transfer or to at least tell you the account is not yet ready for transfers, not keep asking you to verify. I never had such trouble with Emigrant or ING. I can't believe the problems I am having.

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Comment #58 by Anonymous posted on
Anonymous
fbno has been dragging me along for 3 weeks.

I couldnt establish an acctvia hsbc, although hsbc said they didnt know why not .

I sent a $1 check, and still need to sit and wait for trial deposits to go thru.

I had trouble with signing on, and remembering all those endless ?s I was asked.

Is it worth it??????????????

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Comment #59 by Anonymous posted on
Anonymous
The routing number for HSBC Direct online bank accounts is 022000020.

You can find this at:

http://www.us.hsbc.com/1/2/3/personal/checking/routing-number

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Comment #60 by Anonymous posted on
Anonymous
I whole-heartedly agree with those who are finding the FNBO application process to be overly strenuous. In fact, they have come up short in numerous ways since I first started opening my account (about 3 weeks ago at this point):

--Wouldn't accept my home address, because I've moved in the last 2 years; had to fax utility bill. Also, wouldn't accept my wife's name/address, b/c we don't share the same last name. Of course, ING didn't have any issue at all with either of these things.
--Got an email telling me to email customer support re: my application; customer support replied and told me to call customer support. Honestly: How innefficient can you get?
--Even though their own site said it takes up to 3 days for the trial deposits to go through, after initiating trial deposits I instantaneously got an email that said "Warning: You still need to verify your trial deposits before you can access your account" Wow.
--After the account was created, got an email saying my opening deposit (specified in online application) had gone through. However, after checking both the checking account of origin AND calling FNBO direct, I could find no evidence that this was the case (i.e., the balances of both accounts remained the same). 24 hours later, the transaction showed up in my checking account.
--Even after the initial deposit showed up in my FNBO account, the accounts available for transfer didn't show my checking account. In other words, I had to enter all my checking account info AGAIN in order to transfer more funds.
--When I called to speak with a manager about all of these ridiculous issues, I was kept on hold for more than 1 hour. After calling back to complain, I was promised I would receive a call from a manager within 48 hours. 72 hours have now gone by.

All in all, this is the worst customer service, and the most shoddy, inefficient online financial service, I have ever encountered. If the rate drops below 5.30% after the promotional period ends, I'm definitely switching banks. It seems clear to me, based on the earliest and most recent posts in this thread, that FNBO is now purposefully stalling people so that they can control the costs of their 6% promotion.

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Comment #61 by Anonymous posted on
Anonymous
I had a very negative experience with FNBO. I think that they are going to go the way of NetBank.

I called up customer service to ask a question about a fee that I incurred on the account and was met by a disturbing amount of resistance. I could not believe how rude they were. To top it all off, I asked to close my account, and the rep said, "Sure, I will get that taken care of for you," and hung up! I was shocked.

I think we will see this portion of First National Bank of Omaha go away VERY soon. Poor interface, poor customer service....not much going for FNBO Direct after their teaser rate goes away.

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Comment #62 by Anonymous posted on
Anonymous
I opened a savings account about 6 months ago to take advantage of the competitive rate. I decided to enroll in the billpay service. What I didn't understand is why I had to fill out the same application I used for the savings account. Talk about frustrating! I do not understand why they would need to know my employment and housing status when they already had that on file. These items were required fields on the form and could not be bypassed. I think there should be a fastrack if you already have a savings account with them.

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