Comments on: FNBO Direct Savings Account Opening and Review

By: dave

dave — Sat, 25 Oct 2008 00:19:40 +0000

I found the customer FNBO Direct customer service to be very good but their web-site and enrollment process quite poor. It’s not that it doesn’t eventually work but it isn’t smooth, straight-forward and quick. I just does not impress me as a first-rate online system. I found many errors in their enrollment process and had to ask customer service for help. Also the online banking web-site UI layout is the worse of all that I use. I have yet to check if they support MS Money software integration but I’m not hopeful given what I have seen so far.

As an example of a poor on-line system; once I have my savings account established…which took too long. Why do I have to go through a similar manual process to setup online bill-pay? They already have all my information why ask again?

By: Tim

Tim — Fri, 24 Oct 2008 12:42:40 +0000

FNBO Direct had been offering 3.50% since February. I believe when they started back in 2007 their rates were 6.00%, but they’ve only dropped when absolutely necessary and still continue to be very competitive with their rates. They’re still one of the best.

By: Jess

Jess — Fri, 24 Oct 2008 02:11:54 +0000

My process was very smooth, I opened my account in under 15 minutes and because my bank (United States Automobile Association) is primarily an online bank, I was able to verify my account using my log-in and password from my USAA account. It was really smooth and quick , two business days. I was a little dissappointed because I read somewhere that a little while ago, FNBO Direct was offering a 6.00% APY, but it dropped within days to 3.50%, so I wasn’t surprised when I read in that the rate had dropped again. All in all, still a really good deal and I’m glad I did it.

By: Flexo

Flexo — Wed, 22 Oct 2008 20:06:55 +0000

Josh: That’s right. I received an email alert today. The FNBO Direct savings account APY is now 3.25%.

By: Josh

Josh — Wed, 22 Oct 2008 19:57:03 +0000

Looks like FNBO dropped their rate. Right after I opened the account, too.

By: Josh

Josh — Mon, 20 Oct 2008 22:12:29 +0000

I opened an account today with FNBO, following your experience.

Mine was a little less smooth. I don’t have a home phone number, only mobile phones, so when I tried to apply, I was declined. I sent an email and followed up with a call the next morning. They said the application review office was closed, but that they would follow up and email me.

About an hour later, I received an email saying that my application was approved! No reason as to why it was declined, or why it was now approved.

So I continued applying, since it’s a joint account, I needed to enter the same information for my wife. Again, the same phone number problem (I believe) and I had to call back. I told the service rep what I thought had happened, and was put on hold for about 5 minutes. When they came back, they said that she was now approved and in 10 minutes I would be able to continue applying.

So I was able to finish the application and initiate the transfer from ING. I’m just waiting for the small deposits now.

While I was very happy with how I was treated by customer service, I am concerned about the security. If all I had to do was call to get approved, that seems sort of lax. If the lack of a home telephone # is the only reason we were declined, then it makes sense, but I wonder if it’s that easy to get approved if something else is wrong?

I can update if anything else exciting happens.

By: Ross

Ross — Fri, 26 Sep 2008 18:13:39 +0000

I have been with FNBO for a couple of years now and I have to agree that everything has been great with them. Another tip for your users is that you can use their routing number to set up direct deposits AND withdrawals (up to 5 a month I think) directly from your savings. I pay my mortgage directly from my savings so I am earning interest up until they day they pull it out!

FNBO Direct Routing Number:
104000016

By: Sasha

Sasha — Fri, 26 Sep 2008 14:41:46 +0000

I love FNBO Direct – besides transfers between banks seeming a bit sluggish, I’ve had no issues. Their customer service has been fantastic in the 3 years I’ve banked with them and the interest rates are consistently among the highest.