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iGO Savings Account from iGObanking.comRates and Account Review Last Update: March 31, 2008
iGObanking.com opened their virtual doors in November 2006 and brought hungry savers a 5.30% yield on the Internet-only savings account called iGO Savings. iGObanking.com is the Internet-only division of Flushing Savings Bank located in New York.
Yield Trend
Account Features
Account Review
The iGO Savings account is a no minimum balance, no monthly fee account similar to ING Direct and Emigrant Direct. It takes only a $1 to open.
The iGO Savings account uses an online verification process during the account opening process. At sign-up, you will be asked to enter the information of the bank you want to transfer funds from as the initial deposit for your new iGO Savings account. Instead of dealing with and waiting for the two test deposits and then verifying the deposits days later, all you need to do is enter the source account's log-in information. The system verifies that the information is correct and then you are cleared to transfer money. The username and password of your source account are not retained by iGObanking.
If you aren't able to confirm your source account with the above method, then the test deposit system is used. When you receive the test deposits into your current checking or savings account, log-in to your account at iGObanking.com and verify the amounts that were deposited.
If you still have trouble, the last option you have is to mail in a check and signature card to open and fund the account. But that isn't very Internet, is it?
The account that you used to fund the iGO Savings account will be your linked account where all transfers will be made to and from. Originially, only one external account could be linked, but as of December 2006, multiple linked accounts are allowed.
Account opening does incur a peek into your Chexsystem file and a soft credit pull. (Soft credit pull is when the bank looks at your credit report on file at one of the three credit bureaus. The request is mainly for identification purposes and should not affect your credit score.)
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