This review is for: eSavings
Amboy is one of the few banks that don't allow ACH pulls from external banks - basically forcing you to use their ACH system to withdraw money. Now, they don't have any dollar limits on ACH transactions, which initially made me think OK, not a problem. However after digging a little deeper I found a $5/transaction "excess withdrawal" fee. First 4 withdrawals per month are free, anything beyond that, $5 a pop.
In addition, they only allow 1 linked account. Amboy is making this a very restrictive pipe for getting my money in and out. And what if I wanted to change which external bank I have linked to my Amboy account? I have to mail a check (from my external bank account) for at least $1.00, with "link" in the memo field followed by the last four digits of my access ID. They'll then deposit the check and change the account. Seems pretty high-tech.
Posted by JohnM -- March 22, 2009
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