FNBO Direct Returning Customer Promo 1.35% APY

If you have a dormant FNBO Direct account, you may be interested to know that they are offering a promotional rate of 1.35% APY beginning July 1, 2012 on all the money above what your balance was on June 29th, 2012. (Only available to existing FNBO Direct customers as of June 29, 2012.) Even better, the rate is guaranteed until December 31, 2012, making it better than 6-month CDs from other banks. All rates above have expired and FNBO is now offering a standard rate of 0.85% APY.

I should probably move a little money over… see my June 2012 Emergency Fund update for where else I stash my cash. Also see my rate chaser calculator for some real-world estimates of how much extra interest you’d get.

FNBO Direct has become just another commodity online-savings account these days, so it’s good to see they’re trying to keep things at least a little interesting. I’d be a little annoyed if I kept a lot of money in there this whole time, though! The fine print from the e-mail I received is quoted below.

*Limited Time Offer: Promotion available to existing FNBO Direct customers (as of June 29, 2012). The promotional rate of 1.35% APY is applied to any deposit balance above the balance in your account at close on June 29th, 2012 (hereinafter referred to as the “Initial Balance”) during the promotional period. The promotional period begins July 1, 2012 and ends December 31, 2012. For example, if your account balance on June 29, 2012 is $1,000.00 (Initial Balance) you will receive the promotional rate of 1.35% APY on any balances above $1,000 during the promotional period. Your Initial Balance (in this example $1,000) will receive the regular rate, currently 0.65% APY. If at anytime your qualifying account falls below the Initial balance you will receive the regular (and not the promotional) rate, currently 0.65% APY. Your statement will not reflect multiple balances with various rates, but rather a blended rate of the entire balance, currently 1.22% APY. Annual Percentage Yields are accurate as of 7/18/2012 and are subject to change after that date. Rates may also change after the account is opened. Fees may reduce earnings. Minimum deposit to open an account is $1.00.

** Limited to one promotional rate per household. Other promotional rates or discounts do not apply. Promotional rate period is set to end December 31, 2012. The FNBO Direct Online Savings Account currently pays an annual percentage yield of 0.65% and is accurate as of 7/18/2012. Rates are subject to change.


  1. This is a little bit confusing to me. Jonathan or anyone can you help me to understand if I got this right?
    Lets say my balance on my account was $5,000.00 before June 29,2012 does that mean I will get the 1.35 rate for 6 months and the moneys I deposit after June 29,2012 will remain at the regular rate? Is it in a sense a good deal for loyal customers who had long term deposits and not a deal for someone who deposits money now or start a new account?

  2. I see TIAA Direct is offering 1.24% since feb. Does anynone used it?


  3. This is a targeted offer? I don’t see anything on FNBO site, nor I get an email.

  4. Just called FNBO Direct to see why I didn’t receive the e-mail. She said it was targeted to all customers who have had accounts for at least two years, but just in the last hour (because of the blog I would guess) they have received many calls from customers who qualify but did not receive the e-mail.

    They took my name and sent my information to their marketing department for an answer about why I didn’t receive the e-mail or if I qualify for the offer.

  5. Rock, it is an opposite – 0.65% on your old 5K and 1.35% on new money.

  6. Thanks oleg.
    Well this won’t help me much then being that I only put a small amount in after june 29 being that the rate is so low.

  7. It appears to be open to all existing FNBO Direct customers as of June 29, 2012, so it should have been e-mailed to eligible customers, but I know that sometimes I use different e-mails with different accounts or things get sent to spam folder accidentally, so that’s why I posted it here.

    In my case, even though I changed my e-mail registered with ING Direct years ago, all my statement notices still go to an old @yahoo.com e-mail.

    Yes, this offer doesn’t really seem to reward long-term customers who kept all their available cash at FNBO. It’s more of a quiet way of encourage previous customers who took their money out, to return.

  8. Actually, my inbox gets plenty of correspondence from FNBO Direct (as recently as early June), just not this promotion. From the rep’s explanation, it sounded like their marketing dept made some error sending them out. To their credit, they called me back already and verified that I am eligible for the promotional rate. I’ll be moving funds over there next week. 🙂

  9. I wonder why FNBO Direct sent this out 3 weeks after the promotional period started (July 1st). Nevertheless, 5 months of 1.35% APY is nice these days. It’s also worthwhile to point out that FNBO Direct had a very similar promotion last year. Perhaps we’ll see this become a regular thing.

  10. Deymond says:

    I emailed FNBO and their response to me stated “Please be advised, your account must be opened more than two years to qualify for the promotional offer.” I didn’t receive an email, but they confirmed I am eligible.

  11. Forgot all about this deal that looked like it might become an annual thing. Did FNBO not do this in 2013?

  12. Not that I am aware of…

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