Dedicated to Deposits: Deals, Data, and Discussion

$50 Bonus for Amboy Direct's eSavings Account Continues - Nationally Available

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Update 11/07/09: The eSavings account rate has fallen from 1.51% to 1.31% APY.

AmboyDirect continues to offer a $50 sign-up bonus for its Amboy Direct eSavings. My last post on this bonus was in Septemer 2008. You must be a new Amboy customer. Compared to other savings account promotions currently available, this Amboy one is still a good deal. It requires a minimum monthly average balance of $3,000 for 90 days. As a comparison, WTDirect's promotion requires a $20K balance for 90 days to qualify for a $50 bonus (see post).

The eSavings account interest rate is a little below average, but it's in the range of other popular internet savings accounts such as HSBC Direct and ING Direct. Below are the basic feature of this eSavings account:
  • No monthly balance minimums or service fees
  • $100 minimum opening balance
  • 1.51% APY on balances from $3K to $100K as of 7/12/09
  • 1.01% APY on balances from $300 to $2,999 as of 7/12/09
  • No interest on balances below $300
  • Maximum deposit of $100K
Amboy Direct accounts have an ACH electronic funds transfer service. From my experience with their Premium Savings Account, the ACH features are not the best:
  • Only allow one linked account at a time
  • Changing a link requires you to mail a $1 payable to yourself
  • ACH debits initiated from third parties are blocked
  • ACH deposits initiated from third parties are accepted
  • ACH transfer speeds have been fast: 1 to 2 days for outbound transfers and one day or less for inbound transfers

Another thing to note is that there's no hard credit inquiry in the application (at least not for the Premium Savings). For more details about the Premium Savings account, please refer to this post.

Update 7/13/09: A reader reported being told by Amboy Direct that only "Citizens" and "Permanent residents (with Green Card)" can open an account.

Amboy Direct is part of Amboy National Bank which has been FDIC insured since 1934 (FDIC Certificate # 6423).

Other Bonuses and Online Savings Accounts

To find other bonus deals, please refer to my bank bonus page which has all of my recent bank bonus posts. For other high yield savings accounts, please refer to my weekly rate summary.

  Tags: savings account

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