I just opened an account with them because of this promo rate. The account opening process was pretty painless - nothing to mail.

I'm sure they're seeing an influx of traffic today!

I opened one too...pretty painless. I completed the whole process using deposit verification on the second day. As soon as my access check clears in my local bank, I'll be transferring that $$ into FNBO to try out arbitrage for the first time.

Michael, thanks for the arbitrage calculator on your site; it really came in handy.

John,

You're welcome. The credit-card arbitrage calculator has come in handy for me, too.

Sure wish the 0% offers were as plentiful as they used to be...

Wow. That was and extremely easy account to open.

I'm now just waiting on my trial deposits.

You can save a couple of days and skip the verification deposits if you are willing to give your ID and password for your funding bank. I just applied this morning and FNBO indicated my initial deposit (up to $250,000) should be in my FNBO account within two (2) business days of now.

I have never used an online bank and i am a bit concerened that i get hooked into some scam how am i protected?

As easy to open as the FNBO-D account was, the transfer times are too long.

I've completed three pulls to my FNBO-D account thus far, and each one has taken at least 4 business days to complete (one took 5). My transfers initiated on early Monday mornings were not complete until the Friday of that same week.

They use the same ACH system as HSBC, apparently, so this shouldn't really be a surprise.

For 6% APR, though, I'll likely just suffer through.