From the Bank
Amboy Bank is a full-service institution for retail and commercial clients, with its Amboy Direct division serving the online-only space. Founded in 1888, Amboy has been voted Best Bank for more than 20 consecutive years. Amboy operates more than 20 branches throughout central New Jersey.
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3/25 - Amboy Direct's Jersey First eSavings Continues To Be A Rate Leader
12/19/19 - Amboy Direct Jersey First eSavings Offers 2.10% APY For A Year
12/19/19 - 2.10% APY Savings Account - Guaranteed For 1 Year
8/10/19 - Amboy Direct Adds Jersey First eSavings, 2.50% APY
8/2/19 - 2.50% APY - Jersey First Esavings
12/20/18 - Money Market Max More, 2.25% APY - NJ Only
7/20/17 - Amboy Direct 12-month Add-on eSavings CD Available Nationwide
6/30/17 - Email Offer Of 12 Month CD 1.51%
6/16/17 - Amboy Direct (NJ) Raises 12-Month Add-On eSavings CD
4/5/17 - Amboy Direct's 12-Month CD Has Additional Deposit Option
2/14/15 - Money Market Max More Is Available Only To NJ Residents.
1/26/15 - Amboy Direct Introduces Money Market Max More With Competitive Rate
1/25/15 - Amboy Direct Money Market Max More - 1.27% APY > $40K
2/6/14 - Amboy Direct Anytime Access CD
7/29/13 - $50 New Account Bonus At Amboy Direct
12/10/12 - New Amboy Direct Money Market Promotion for New Jersey Residents
6/8/12 - Amboy Direct Savings & Money Market Promotions for NJ Residents
5/4/12 - Amboy Direct Savings Account Promotion for New Customers
11/4/10 - $50 Savings Account Bonus at Amboy Direct - New Jersey Only
11/7/09 - $50 Bonus for Amboy Direct's eSavings Account Continues - Nationally Available
10/11/09 - Amboy Direct Increases Rate of 12-Month Add-On CD to 2.10% - Available Nationwide
10/10/09 - Amboy Direct's New Add-On CD (eSavings Time Deposit) - Nationally Available
9/22/09 - 2.35% 12-Month Add-On CD at Amboy Direct - Nationally Available
8/17/09 - Update on Amboy Direct Savings Accounts, Bonuses and CDs
4/9/09 - New Monthly Fees for Premium Online Savings Accounts at Amboy Direct
4/9/09 - $50 Bonus for AmboyDirect's eSavings Account
4/9/09 - Amboy Direct's Premium Savings Account Now 5.15%
2/5/09 - Amboy Direct Lowers Rates on Premium Online Savings Account
1/21/09 - 4.00% 9 & 12-Month CD and Other Specials at an Amboy Bank Branch in New Jersey
1/11/09 - 6.00% 3-Month Money Market Promotion at Amboy Direct New Jersey
12/6/08 - 4.25% Money Market Promotion with 5-Month Guarantee at AmboyDirect (NJ Only)
7/3/08 - Update on Amboy Direct Savings Accounts - New Rates and $50 Bonus
10/29/07 - Amboy Direct Premium Online Savings Account Update
10/27/07 - Update on Amboy Direct's 6% 3-Month Promo for NJ and the Premium Savings Account Bonus
4/4/07 - Amboy National Bank's Websites May Have Been Hacked
1/17/07 - Amboy Direct Premium Savings Now 5.35% for $20K+
12/14/06 - 5.50% 12-Month CD for Amboy Direct's Savings Account Customers
9/18/06 - Amboy Direct Premium Online Savings Account Bonus Update
9/13/06 - Amboy Direct Raises Premium Savings Account Rate to 5.25%
8/25/06 - $25 Bonus Now Available for Amboy Direct's 5.15% Premium Savings Account
6/27/06 - Amboy's No-Min Online Savings Account Now 5.05%
4/30/06 - Amboy's New No-Min Online Savings Account at 4.75%
12/16/05 - 5% Money Market Intro Rate
11/3/05 - AmboyDirect Bank Increases Rates
10/10/05 - Amboy Direct Signup Bonuses
Excited About 2 Yr 5.80% CD Until ...
I noticed it was indexed ... 3 Month Treasury Rate + 0.50%.
3M treasury trajectory tracks the Fed funds rate. The Fed is likely to start cutting by early next year. So that 5.80% will likely be below 4.80% after the 2 years. Sneaky.
Unbelievable
Just want to alert other customers to the fact that this bank only allows linkage to one external account and it has to be from inside. You cannot have a link at an external account. They won't even disclose their routing number. When I found out, I immediately cancelled/withdrew my application. Had never heard anything like that. Unacceptable.
What A Scam!
They must think we're stupid. What is a CD that has an interest rate that they can change any time they want to? It's a savings account that you can't withdraw money from. That's what. Buy this if you don't care what the interest rate will be in 6 months.
AMBOY DIRECT HORRIBLE BANK
Horrible Bank. held my account hostage. Horrible products, horrible technology. Was going to file complaint with department of Banking and Insurance but they dont do anything. If i could sue i would. would give them -10 stars if it was an option. DONT WASTE UR TIME AND MONEY WITH THIS BANK
Horrible! Antiquated With Lot Of Red Tape
Horrible! Antiquated online banking platform. probably worst in the industry (at least I haven't seen anything worse). Nearly impossible to make any changes to a linked account without going through ton of red tape and filling out a form after form. If you want to withdraw your funds quickly - good luck. Avoid at all costs. I am not sure why regulators wouldn't look into these predatory practices
Another Way To Block Withdraw
There are more ways for Amboy Direct to prevent you from withdrawing your money. I was told to log into my account and was supposed to see a "banner" to verify my linked bank account, but there was none and nowhere to verify. I called customer service and was told that there was an unknown issue that she couldn't solve, and needed her supervisor to look at what was wrong. And of course the supervisor wasn't there, I have to wait until Monday when she is back. I'm no longer surprised by what kinds of "reasons" that I can't withdraw my money. I can't wait to get out of this, but have to see what other excuses they will find to prevent me from withdrawing MY money.
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 6423 |
| Year Established | 1888 |
| Employees | 232 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 2.6% |
| Return on Equity - YTD | 19.89% |
| Annual Interest Income | $69.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $2.59B$2.57B |
| Loans | Q2 2024vs Q2 2023 | $1.8B$1.64B |
| Deposits | Q2 2024vs Q2 2023 | $2.14B$2.17B |
| Equity Capital | Q2 2024vs Q2 2023 | $354.9MM$303.6MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $29.3MM$28.6MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $7.4MM$4.7MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $2.4MM$2.7MM |