By Mr. B
A few minutes ago I received a questionable e-mail from FNBO Direct. The e-mail subject is “Due Diligence 2nd Request.” Here it is in its entirety:
Dear ,
As part of your initial application, we did not receive information regarding your current employer, occupation or position. In many cases, this is because you have a status of retired, unemployed or self-employed. We are updating our records as part of our on-going due diligence to be compliant with our standards to support the USA Patriot Act.
Due to the importance of the USA Patriot Act, we have placed a hold on your account(s) until we can document this information for our records. No deposits or withdrawals can be made through your account(s) until we receive this information. We will release the hold upon receipt of this information.
Please provide us with your previous employer, occupation and position by sending an email with this information to fulfillment@fnbodirect.com. If this information is not received within 30 days, the account(s) may be closed. Your immediate attention to this matter is appreciated.
If you wish to discuss this further, please send an email to fulfillment@fnbodirect.com or call 877-370-3707. Please reference your FNBO Direct account number displayed at the top of this page when you contact us.
Thank you for choosing FNBO Direct for your Online Savings Account.
FNBO Direct Customer Service
That’s the entire e-mail. Notice the blank space after the “Dear ,” as well. It looks like a programmer goofed at FNBO. I first opened this account back in May for their 6% Savings offer, but now I’m not so sure I want my money there anymore.
Truth be told, this is a rather unsettling e-mail, especially since this is the first notification I have received about “former employers.” So, my account is supposedly already on hold, and will be closed in 30 days unless I respond? Screw you, FNBO Direct! 
My suspicion is that this is simply an error on their part, and that they will soon send an apology e-mail. On the other hand, if it is NOT an error, I must respond to this strong-arm e-mail or they will close my account.
Either way, my confidence in FNBO Direct has been shaken, and more than likely I will withdraw my money by the end of September.
Has anyone else received this threatening “Due Diligence 2nd Request” e-mail? If so, what are you going to do about it?
UPDATE: Yes, it appears that the Due Diligence 2nd Request e-mail was an error. I just received the following e-mail from FNBO Direct:
Please disregard the email sent on August 10, 2007, with the subject line: Due Diligence 2nd Request. This email was sent in error and we apologize for the confusion it has caused. If Due Diligence information is required, you will receive a follow-up email. Again we apologize for this inconvenience.
Error or not, my dollars will depart the FNBO train in September!
I received the email today, and after doing some search online, I found out that that is not an e-mail error, since some people received it 2 months ago, and after they called, FNBO assistants did ask them to send the information via email. I already provided the information when I opened the account, why am I still being asked to send it and how dare they send such threats! I sense nothing but sinisterness, so I am withdrawing all my money except $1 before it is too late. I don’t want to tie my money on a timebomb.
Also received the email about 1PM EDT. Called the bank and was disconnected – called the bricks and morter side…also disconnected. Called the credit card side and got to the switchboard – she dutifully told me I’d reached the wrong place – I persisted about trying to speak w/ someone about my savings acct – she said they were having an issue with an email sent out that was supposed to be sent forty (40) people but went to 30,000 instead – oops! Supposed to be a follow-up email to explain – meanwhile their phones are evidently lighting up. So, look for another msg – I too am not terribly concerned – fnbo is a reputable bank and FDIC insured. Plus 6% is hard to match anywhere else.
I should also add that she volunteered the information about the fnbodirect message. I had only indicated I was having an issue getting thru to the customer service tel #’s. After a couple minutes, she said they were having a problem with a message sent out “but that was with fnbodirect.” (bingo – why I was calling)
I received mine today, however I also got the first one and refused to respond. I am retired and they know it, they want to know who I used to work for which has absolutely nothing to do with my money in their bank. My account is frozen and will be closed in 30 days.
Jack
I received the email today, and then logged into my account, looked at the transfer section and it is frozen! Any confirmations I received when opening the account are on my home computer, so I can’t confirm what info I gave them, but I’m sure I gave whatever info was asked for in the application. I don’t want to respond to this email with personal information–if they need info they should allow you to enter it securely online. I think this is some kind of bizarre error, given that I never got the first request, and my confidence in them is very shaken. I have had accounts with several other online banks and have *never* had this kind of issue.
I also recieved the e-mail today. I just opened my account last week, so it shook me up a bit when it stated my account has been placed on hold. I called customer service and apparently they are having problems, possibly due to overload of calls and complaints about the e-mail. I finally got through after 20-25 minutes on hold. Without saying hello, or even checking to see if I had an account or not, the rep just said “If you are calling about the Due Diligence e-mail, please disregard it as it was sent in error.” I then asked if my account is on hold, and she assured me that it is not and that the e-mail was mistakenly sent out.
I am giving them til next week to straighten things out, then I am pulling out my funds. Seems they made a large mistake, and it is probably costing them dearly right now with the high volumes of withdrawls.
I got the letter by mistake, but it wasn’t really. My wife is a home-maker, and unemployed. This wasn’t good enough. They wanted all of her information, which I didn’t have. I closed my account. No more putting her on my accounts. Screw FNBO. BTW, I don’t believe that hey MUST have this information. This bank should fold.
I received the email shortly after submitting a substantial redemption transfer request. I received the apology shortly thereafter. Sure, maybe it’s a screw-up, but especially these days my watchword is “where there’s smoke, there’s fire.” I’m going to transfer the remainder of my funds. Of course I can’t do it right away–the site is now undergoing “maintenance” and the transfer function is disabled. Sheesh.
I received a similar type request after I filled out the application and was approved.
“asking our FNBO Direct account holders to provide us with the following information (alternative A or B):
Alternative A: a voided check from your funding bank account showing your name
Alternative B: a copy of a statement from your funding account AND a copy of your driver’s license, passport, or valid state ID
As soon as we receive this information and enter it into our system (approximately 24 hours), we will enable outgoing transfers from your FNBO Direct Online Savings Account. If we have not received the documentation within 30 days, we may return your deposit to your funding bank account.”
I have called them and closed the account.
After calling the 1-877-370-3707 ext #4 costumer service number to discuss the alternative a:/b: requirement and being told it would be FNBO’s intent to close my account as stated without further information, I decided to close my account. The operator was very polite and said no problem it will be completed in 3 days. I said thank you. I checked my account today and indeed they they have most diligently transfered my original deposit back into my account. HOWEVER TO MY SURPRISE, the operator never disclosed, my original deposit IS MINUS A $15 WIRE TRANSFER FEE. You do the math. BE AWARE.
[...] like me, you are concerned about the Due Diligence 2nd Request e-mail from FNBO Direct, then perhaps you are considering moving your money [...]