One of the the questions was what interest rate change would prompt you to switch online savings accounts. I selected the smallest (0.10%). I have a feeling they're trying to decide what the post promo rate should be. I'm sure they hope they can keep deposits if they can be close to the leaders. Hopefully, the 0.10% will encourage them to stay very close to the savings account leaders.
The last question was "How can FNBO Direct better serve you? Please explain:". I listed the following:
- Reduce the ACH transfer delays. Currently, 2 to 4 days of interest is loss on transfers. This is above average for online banks.
- Maintain leadership in savings account interest rates
- Replies to email questions taking too long. My last email inquiry took 5 business days to receive a reply.
- Improve online message system so replies can be kept secure and you don't have to send important messages in emails that can be confused with spam
- Requests for employment history and warnings of account holds are worrisome and NOT typical of online banking industry.
For a summary of the FNBO Direct savings account and the 6% promotion, please see my FNBO Direct account overview or for all of my previous FNBO Direct posts, please see this page.