FNBO Threatens to Close Accounts, Apologizes

08.13.07 | Online Savings Accounts | 0 Comments | by junger

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FNBO, home to the promo 6% APY online savings account, is in a bit of a pickle.

Late last week, they sent an email to their customers with an online savings account, saying they had placed a hold on the account and threatened to close them if the customer did not fill out information regarding work history.

As Bank Deals reports:

Like many readers who have been commenting in my previous FNBO Direct post, I also received the "Due Diligence 2nd Request" email which stated that they had placed a hold on my account. I never received the first due diligence email, and I provided this information when I applied. So something seemed to be wrong.

Not long after, they posted the following apology on their Web site:

fnboapology.gif

Reaction so far has been very anti-FNBO.

Commenters on the Bank Deals site have been pretty angry.

One anonymous commenter says

I withdrew all of my funds from FNBO Direct. I will not stand for harassment and threatening emails from by online bank. This is inexcusable.

Sun (who reviewed the FNBO account earlier this summer) is calling the bank "scary."

Seriously, I am not very confident with this bank handling my money. Who knows what could happen one day and I suddenly lose access to my account because *they* determine there

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