Update 12/23/08: The iGOchecking APY is now 2.00%.
iGObanking.com has raised the yield on its online checking account from 3% to 3.80% APY. iGOBanking came out with this checking account last May. At the launch the yield was 2.65% APY. So the rate has been competitive for checking accounts. This checking account is a lot like ING Direct's Electric Orange checking account. It has no monthly service fees and no paper checks. See my May account review for more details.
iGObanking has also extended its $50 gas card bonus. It seems to have the same terms that I reported on in August, but it's now available through December 31, 2008. To receive the bonus requires opening an iGOchecking account and paying 3 bills online using their Bill Pay and Presentation tool by 12/31/08.
There are some things to note in the small print. First, it states that "reward will be sent to the first 400 accounts that fulfill the bill pay requirements." Also, it states that "By participating in this promotion you are consenting to the bank releasing your name and address to a third party service provider."
A reader who participated in this promotion has reported receiving the gas card on 11/10/08 in the comments of my last post.
iGObanking.com continues to offer two competitive CD specials: a 4.15% APY 9-month CD and a 4.30% APY 15-month CD (see post). Also, it continues to offer a competitive rate of 3.28% APY on its online savings account (see post).
iGObanking.com is a division of Flushing Savings Bank, FSB which is FDIC insured. Flushing Savings Bank has solid financial ratings for soundness: 4 stars (excellent) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 6/30/08 data.
Credit for this find goes to BestCashCow.