Update: Please see my FNBO Direct Review for more info!
Rate chasers rejoice! Look likes with the expiration of the HSBC Direct 6% APY promotion yesterday, the online bank FNBO Direct has decided to offer the rate of 0.85% APY as of January, 2013. $1 to open, no monthly minimums, no credit check, previous rate was 5.25% I believe. Anybody use this bank before?
As usual, check out my Ultimate Rate Chaser Calculator to see the potential profit from a move after accounting for transfer time. I hope they don’t pull what Umbrella Bank did – change their guaranteed date from 12/31 to 7/31 a day into the promotion. Thanks Steve for the tip.
By Jonathan Ping | Banking | 5/1/07, 11:25am