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Its true that initial funding takes longer than I would expect (5 days) but overall I am pleased with the experience. You get a bunch of transfers per month and a debit card so this could be more like a checking account rather than a savings, that flexibility is a very good thing when other banks make you carry a minimum balance and jump through other hoops so that you don't have to pay a monthly fee. To top it all off the interest rates are always near the top of the heap, if not the top. I recommend this bank to friends and family.
I started out with the fnbo application- that went as stated. That was feb 27th- its now march 4, and i just today finally was able to access this account! Thats not the good news however- my money was taken from my checking account 3 days ago and there is no balance showing at fnbo? I had to contact fnbo at every step of the way- there was no way to logically complete the steps to their account set up. The last time i contacted customer service because i couldnt log in- the customer service representative was rude- very rude - when she told me that if i had read the fine print i would know that even after i created my name and password , i would not be able to access the account for a minimum of 24 hours. That was after they had taken my $7000- and my statement of if you wont let me see my account- you shouldnt have taken the money- got me well thats the way we do it. You will be e mailed when your access is ready. Guess what- no e mail- but i did get to log in. Only to find out that the account shows no balance whatsover even though my checking account clearly shows a direct transfer of money to fnbo of $7000 two days ago? I am now busy searching the fine print to find out how long i have to leave my money in this farce of a bank before i can withdraw it and deposit it elsewhere. My ing account was easy to set up, fast, the transfers were made and the account able to be accessed without a bit of trouble and nobody rude either. The interest rate may be higher but in this economic time- the comfort of at least being able to see your money in your account and access it is worth something. Never ever again
This online bank hides your account number, supposedly for security reasons, but I suspect that they don't want you to be able to transfer money out. When you try to get help over the phone, you can't even talk to a person unless you enter your account number. You are stuck! I finally had to keep hitting O until I got someone to talk to me. To withdraw money from an ATM they charge $3, regardless of the amount. For a long time, the only way I knew my money was still there was to go to the ATM. They do pay marginally better rates than bricks and mortar banks, but is it worth it?
Initial Dormant Account Fee, $5 Monthly Fee
|Non-Sufficient Fund (Overdraft)||$30||$30|
|Stop Payment item||$30||$27|
|Domestic Wire Transfer (Outbound)||$25||$22|
|Domestic Wire Transfer (Inbound)||$15||$9|
Foreign ATM are those not branded with the (Circle One) logo