Weird stuff from FNBO Direct

Close Encounters of the Cheap Kind has a new home at www.CheapEncounters.com!

Sorry for the lack of posts this week. I had to go out Jersey for the beginning of the week, and then fell ill Wednesday evening, so I haven’t had a lot of time this week.

Anyway, this morning I had a weird email from FNBO Direct. As many of you know, FNBO Direct is one of the new online banks offering high yield savings, currently at 6.0% APY through September 30. They sent me an email this morning saying that I did not include my employment information on my initial account application as required by the USA Patriot Act and they had previously tried to contact me to update this information. As I had not responded to their prior email, they had frozen my account until I contacted them with the information.

Since I had not received a prior email for the information, I was pretty irate at the idea of them freezing my account. So I tried calling them this afternoon to get the issue resolved, waited on hold for about 20 minutes, and then hung up. Right after I hung up I got another email from them saying the initial email was sent in error and they apologized for the inconvenience.

I guess in the end there was no real harm, but it makes you wonder about how FNBO Direct is being run. It makes me doubt whether I will keep any money there after the promo rate expires.


August 10, 2007 - Posted by | Customer Service, Savings

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