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Home > Amboy Direct > Reader Comments
Discuss your experience with Amboy Direct. You do not need to register. Pick any Username you want to use.
Displaying comments 1 to 20 out of 23
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Monday, 10-23-06 13:40
Amboy just took a $108 million hit on bad real estate loans. This may well transfer into much lower interest rate yields.
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Friday, 12-08-06 23:08
I have been using Amboy for about 2 months. Web site is a little harder to use than others, and they like to "float" your money for 10 days. The deposits do show up fast, but I have yet to make a withdrawal.
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Wednesday, 01-17-07 01:08
Been a month since I posted. So far, I have yet to be disappointed.
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Friday, 01-19-07 18:14
I've had an account for 5 months. I've had no problems transferring money either way. Phone customer service is also great. I just got a 5.5% 1 year C.D.
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Sunday, 02-11-07 00:03
Warning, Amboy Direct has been known to reject sign-ups from people who don't reside in the same state that issued their drivers license. IS THIS TRUE????
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Sunday, 02-11-07 02:27
It would seem to be the case that some people had problems with the drivers license issue. I read some people complaining about it on fatwallet.com. However, that was some time ago and things may have changed now that there are a lot more competing banks out there. Check with Amboy to see what their policy is these days if you think that it could be a problem for you.
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Sunday, 02-11-07 03:43
Thanks Dave........I do reside in a different state other than my drivers lic.....I hate to get turned down .....:)
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Monday, 02-12-07 06:26
Has anyone recently applied for an account that has had used a different address v/s there Drivers license address????
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Thursday, 03-01-07 22:29
its very odd how their primary website still has no mention whatsoever of the "premium savings" account. ...instead offering two much more lame accounts.
the "premium savings" has its own website. calls to amboy direct result in different answers when i ask why there's no mention of the premium savings account on the banks primary website
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Saturday, 03-17-07 13:48
driver's license issue - I just moved from NJ to MA. Use my NJ Drivers License and MA address. I got promptly rejected. I then went back and applied with my old information planning to change it later when I get my new license. They accepted it this time.
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Friday, 04-13-07 19:25
I started opening an account online and then decided to "google" Amboy. I found this link that said their site had been hacked.
http://www.fatwallet.com/t/52/719007/
Does anyone have any information about this. I don't know if I should finish my application or not. I didn't have any problems opening their page.
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Wednesday, 04-25-07 21:01
the amboy direct site was not at any risk. bank of america had the same defacing incident at the very same time.
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Tuesday, 05-01-07 12:33
Disappointing to hear they lowered the rates today...I guess I go elsewhere.
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Wednesday, 05-02-07 08:34
I'll be joining Terry & moving my money elsewhere. Amboy is now way down on the rankings and what a huge rate cut it was too. I hope customers leave in droves then management might regret making such a huge cut.
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Wednesday, 05-02-07 10:24
I agree with Gary. What a disappointing move. They had a good track record until now.
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Thursday, 05-03-07 20:56
in the grand scheme of things the rate is still good.
at this point i'm not going to quibble and go chasing higher rates, which are always subject to change anyway.
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Friday, 05-04-07 14:13
killer spinach.. I take the point but personally, why should I give away nearly $400 in interest a year in order to keeping lining the pockets of an already highly paid CEO? Rates do change but if investors just shrug their shoulders then who exactly is getting the better deal? And if there was no competition what do you think would happen to savings rates? I am moving away from Amboy for two connected reasons a) to get a better rate and b) in doing so, I'm telling the bank that I am not going to be treated like a bagholder.
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Saturday, 05-05-07 23:38
I agree with Garys way of thinking, plus, being on a fairly fixed income, I need to maximize the return on what little money I have to save. Besides, I left a whole buck and a quarter in my Amboy account for them to use :o)
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Saturday, 05-05-07 23:54
gary... my only point is amboy still has a good rate. it's always a bummer when the rate is cut, but that is the reality of the business.
i have $40,000 in amboy. with the rate cut, i'd make $100 less over the course of 1 full year... meaning i'd earn $2040 instead of $2140. that to me is not a big deal.
now... if they continue to cut the rate and cease to be competitive, then i'll wave bye bye to amboy.
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Sunday, 05-06-07 04:16
I agree with both points of view. (ya, I know. Pick a side, can't have it both ways. Blah Blah Blah.)
Amboy still has a good rate, a great rate when compared to brick-and-mortar, but when a 6% offer is handed to me, I've got to take it.
Without the FNBO offer, I still would have been upset by the big rate cut, but I wouldn't have had a desire to move to anything that was only slightly higher. Just bad timing by Amboy.
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