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ONB Bank And Trust RCA (2.10%APY, $25K) To (3.0%APY, $25K)

Sunday, June 9, 2013 - 8:21 AMONB Bank and Trust Company - Details
At the time Ken first reported on this account in April, it was paying 3%APY on $25k but ten days later it decreased to 2.1%APY.  The account at this 4-star DA-rated Tulsa, OK bank is now back to 3.0%APY. 
7
pearlbrownpearlbrown1,431 posts since
Nov 2, 2010
Rep Points: 6,247
1. Sunday, June 9, 2013 - 2:05 PM
Intersting for the sudden rate drop and rate increase.
2
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
2. Wednesday, June 12, 2013 - 11:33 AM
I just spoke with a customer service representative and was told that customers must live within 50 miles of one of their branches in order to qualify to open this particular account.  If anybody is able to open an account online and doesn't live within 50 miles, please post a reply! I was told it was a "hard and fast rule," but I don't know how (if) they are monitoring online account applications.
2
ChadJack12ChadJack1217 posts since
Apr 22, 2010
Rep Points: 42
3. Wednesday, June 12, 2013 - 1:44 PM
Re:  Wednesday, June 12, 2013 - 11:33 AM

ChadJack12, when it rains, it pours.   Sorry to be the bearer of bad news on two fronts.

First, I called the bank and got yet a different answer.  The CSR I spoke with put me on hold and actually checked with the person who opens the online accounts.  The CSR was told that if an individual lives more than 1 hour away from a branch they cannot open the account.  I mentioned that others had been told the limit was 50 miles, and they had no comment on the different guideline.   

Second, the APY is now again 2.10%, not 3.0%, 

I don't know if this kills your interest in the account, but good luck.
3
pearlbrownpearlbrown1,431 posts since
Nov 2, 2010
Rep Points: 6,247
4. Wednesday, June 12, 2013 - 8:20 PM
Interesting information, pearlbrown.  It sounds like bank employees haven't been given much guidance with regards to how to handle inquiries about residency restrictions, hence the different stories we've been told.  The CSR I spoke with was convinced that all their affiliate banks (under common ownership by Central Bancompany, Jefferson City, Missouri) offered the same checking account product, which I knew was not true and she later discovered after she put me on hold to ask somebody else.

Is my interest killed in this account?  Definitely!
1
ChadJack12ChadJack1217 posts since
Apr 22, 2010
Rep Points: 42
5. Wednesday, June 12, 2013 - 8:42 PM
Yeah, I am more amused by the bank itself doing the rate hopping kid's game.
2
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
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