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Your Offer Code “400001”
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  • Earn everyday high rates
  • Low $1 minimum opening balance
  • 120 year old bank
  • FDIC Insurance
  • 24/7 access
  • No need to change banks
;
Earn More. Transfer your low rate checking, savings and money market deposits to a higher yielding Premium account...and then back again when you need it. Easily. Securely. Confidently. And...Profitably.

 


How It Works...

Amboy Direct makes it easy to move your money whenever you need it. You can authorize a FREE online transfers at any time (24/7) to either your Amboy Direct account or to your current checking account.

Amboy Direct also offers a convenient optional service that schedules automatic transfers of funds into your Amboy Direct account on a regular basis. It's a convenient way to insure you save and earn the most on your money.

Opening Your Premium Savings Account

  • You must be at least 18 years old, a U. S. citizen and have a valid social security number.
  • Minimum initial deposit is $1.
  • You can open an account online.

          Open by Internet

  • Account must be opened with an initial deposit from your personal account with check writing privileges.
  • Amboy Direct will send two small deposits to your personal checking account that must be verified. To verify, review your transaction history at the bank where your checking account resides and identify the two deposits. After reviewing, you will need to confirm the amounts by logging into Amboy Direct and entering the amounts on a verification page. These deposits are sent as a fraud protection measure.
  • You must validate the 2 small deposits in your linked account no later than 50 days from the date the first deposit was made. If you do not validate the link within 50 days, Amboy Direct may return the initial deposit to the linked account and close the Savings account.
  • Transfer capabilities will be available immediately after "Verification process" is complete.

          

Open by Phone

  • Just call 877-22AMBOY and we'll walk you through the application.

          

Using your Amboy Direct Account

  • Quarterly statements are sent electronically and secured with your personal password.
  • Account information can be accessed 24/7 by logging into www.amboydirect.com or calling Amboy 24 at 1 877-24-AMBOY.
  • Accounts with Internet or phone service are automatically linked to the checking account used to open the account allowing you to make deposits or withdrawals by transferring Bank-to-Bank between these accounts.
  • Your initial deposit will begin to accrue interest 1 business day after the deposit is made and will be available for withdrawal after 7 business days. After this initial hold has expired, funds that have been on deposit for more than 5 business days may be withdrawn.
  • Electronic transfers to your non Amboy checking will generally be at your bank within 2-3 business days.
  • In accordance with Regulation D, which banks must comply with, preauthorized transfers from the account are limited to six per month.
  • Amboy Direct Service Consultants are available by phone 8:30 - 7:00 Mon. - Thurs, 8:30 - 5:00 Fri., 9:00 - 1:00 Sat. EST or email us at amboydirect@amboybank.com.
  • Wire transfers, mail in deposits and issues of bank checks are not available with this account.
  • The account balance limit is $250,000 per client.
  • A zero balance in your account will result in immediate closure. As a result, any accrued interest in your account will be forfeited.

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Everyday Rates and Requirements*

Premium Savings Account
Balance Requirements Interest Rate APY
$100,000 to $250,000 .65% .65%
$20,000 to $99,999 .65% .65%
$1 to $19,999 .65% .65%

The Basics

What is an Amboy Direct account?
Amboy Direct accounts are FDIC-insured online accounts. They offer premium rates like a CD, but without locking up your money. Link any non-Amboy checking account to an Amboy Direct account and the money you electronically transfer will earn our guaranteed competitive rate.

How can Amboy Direct offer higher rates than other banks?
We can pay more because Amboy Direct clients do not use branches for routine transactions. This helps reduce our costs, which means we can pay you higher rates and bring you added value.

Is Amboy Direct related to Amboy Bank?
Amboy Direct is a division of Amboy Bank, a NJ based bank founded in 1888. Amboy Direct was established in 1990 to support clients who prefer to bank from their computer or by mail rather than traveling to a branch. Direct banking using the Internet was started in 2004.

Can I talk to a person?
Absolutely. You may contact a Service Consultants through a toll-free number. Simply call 1-877-22AMBOY.


Opening Your Amboy Direct Account

How do I open an Amboy Direct Account?
Opening an Amboy Direct Account is quick, easy and convenient. All you need is a personal checking account. In four easy steps, you can open your account online or by mail. If you have questions or need help, call 1-877-22AMBOY to have an Amboy Direct Service Consultant walk you through the online application.

Do I have to change banks?
No. Your Amboy Direct account can be linked to any non-Amboy checking account, making it easier for you to transfer money whenever you want.

What is a "linked" account?
When you open your Amboy Direct account we electronically link it to your checking account so when you want to move your money we know where to send it.

Must I maintain a minimum balance in my Amboy Direct account?
You must open your account with the required minimum initial deposit. If you close your account before interest is credited; you will not receive the accrued interest. A zero balance on an account will result in immediate closure of the account. Also, balances under one dollar will result in forfeiture of any accrued interest on the account. A $5.00 monthly fee will be assessed on accounts older than one year with less than $100 minimum balance.

How do I know when my Amboy Direct is open and ready?
If you open your account online today you will immediately receive a confirmation. In a separate e-mail your Access ID will be sent as well as instructions on how to view and access your account. If you opened by mail, you will be notified of your Access ID as well as instructions on how to view and access your account.

How do I verify the two deposits Amboy Direct sends to me?
To verify your deposits you will need to view your linked checking account's transaction history or call your bank for the deposit amounts. Once you obtain the 2 deposit amounts, log in to Amboy Direct using your Access ID and password that you selected at the time of application. After you correctly verify the deposits you will have access to transfer your money.


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How Amboy Direct Works

How do I log in to view my account?
Go to www.amboydirect.com and enter you Access ID in the "Online Access" box. Clicking on the "Log On" button will open a secure session window where you will be required to enter your password and identify another personal information fact. This "multi-factor" login is designed to provide additional protection from identity theft and fraudulent representation.

How do I access my money?
Our state-of-the-art, bank-to-bank transfer process makes it easy for you to move money between your Amboy Direct account and your checking account with a click of the mouse. After logging in, select whether you move money to or from your Amboy Direct account and enter an amount. It's that simple.

How long does it take for transfers to and from my Amboy Direct account?
It takes two to three business days to process your transactions.

Can I view transactions posted to my Amboy Direct account?
To view your account 24/7, just log on to www.amboydirect.com. Your current transactions are listed once you have securely logged in.

How often do I receive a statement?
Online statements are e-mailed quarterly.


Safety, Security and Privacy

Are deposits at Amboy Direct insured by the Federal Deposit Insurance Corporation (FDIC)?
Yes, the FDIC insures funds in your Amboy Direct account through Amboy Bank. You can learn more about the FDIC at their website, www.fdic.gov.

How do you keep my account secure?
You're the only one who can access your account. Your account can only be accessed with your unique Access ID and Password. In addition, we ensure your security online through sophisticated encryption and multi-factor RSA identification when logging into your account.

What about information privacy?
Neither Amboy Bank nor Amboy Direct shares client information. As a community oriented bank, Amboy Bank is committed to your financial well being. You trust us with your personal financial information, and we honor that trust by handling your information discretely and sensibly.


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