FNBO Evergreen Balance transfer question

Drifter73 · ‎12-31-2022

Curious about how the FNBO Evergreen balance transfers work. I noticed that like my Citi CC, they have the option to ACH your cash rewards to your bank account, which is great, because I dump all cash back into a high yield retirement account to stack from citi.

But does that also mean they do balance transfers the same as Citi?

E.g. with citi, you enter each cards amount you want to transfer the balance of and then they send the Grand Total to your bank and you pay the cards off like you would normally, rather than the lender paying each card balance for you.

Does FNBO Evergreen balance transfers send the total to your bank to pay off yourself or do they pay each lender themselves you entered?

Anyone with an FNBO Evergreen use the balance transfer option that could share those datapoints?

Jnbmom · ‎12-31-2022

FNBO does not allow you to ACH to your bank account , they do however send you BT checks monthly it seems and you can deposit into your bank (or wallpaper a wall 😂)

I prefer checks that I can deposit myself and then pay whom I choose, I never liked uses the feature online with banks paying my creditors .

EXP 780 EQ 796 TU 810

Remedios · ‎12-31-2022

@Jnbmom wrote:
FNBO does not allow you to ACH to your bank account , they do however send you BT checks monthly it seems and you can deposit into your bank (or wallpaper a wall 😂)

I prefer checks that I can deposit myself and then pay whom I choose, I never liked uses the feature online with banks paying my creditors .

Surely you meant "weekly' 😵‍💫

Them and Citi drive me nuts with those checks, I just don't think it's a safe practice to mail blank checks.

If FBNO is willing to send them, why not just offer ACH to checking, same thing (unless I'm missing something).

Drifter73 · ‎12-31-2022

Odd they don't allow ach to Checking for balance transfers, but do allow ach to Checking for cash back.

For reference, see redemption options:

Redeem for cash back as a statement credit, an ACH deposit into a checking or savings account or a check.2

https://www.fnbo.com/personal-banking/credit-cards/evergreen/

Anonymous · ‎12-31-2022

FNBO Balance Transfers ...

Will say I wonder if there is some "profile" involved?

Checks do not darken my door nor do their BT online options give me access to ACH type transfers. It is strictly send a payment to a bank and they do the process (this means strictly credit card lending bank accounts).

Note, this may be different with various FNBO Card products. Their Co-Branded products may have other options too (unknown to me).

My record with them is certainly as a Transactor and I am using my first ever BT with them now. Go back many years with FNBO.

FinStar · ‎12-31-2022

@Drifter73 wrote:
Odd they don't allow ach to Checking for balance transfers, but do allow ach to Checking for cash back.

For reference, see redemption options:
Redeem for cash back as a statement credit, an ACH deposit into a checking or savings account or a check.2
https://www.fnbo.com/personal-banking/credit-cards/evergreen/

It's not really odd. Plenty of other lenders allow ACH deposits for rewards or cashback redemptions into a checking/savings/money market account but not for BTs 🤷‍♂️

Drifter73 · ‎12-31-2022

@Anonymous wrote:
FNBO Balance Transfers ...

Will say I wonder if there is some "profile" involved?

Checks do not darken my door nor does their BT online options give me access to ACH type transfers. It is strictly send a payment to a bank and they do the process.

My record with them is certainly as a Transactor and I am using my first ever BT with them now. Go back many years and FNBO ignores that ... ?

"Send a payment to a bank" - Does that include external bank/cu checking or savings accounts or do you mean strictly credit card lending bank accounts?

If the former, that may work for me. E.g. send x amount to bank checking then pay other cc's just like a bt, but more like a micro loan at 5% interest (0%apy 12 mo.)

Or did you mean something else?

FinStar · ‎12-31-2022

@Drifter73 wrote:
@Anonymous wrote:
FNBO Balance Transfers ...

Will say I wonder if there is some "profile" involved?

Checks do not darken my door nor does their BT online options give me access to ACH type transfers. It is strictly send a payment to a bank and they do the process.

My record with them is certainly as a Transactor and I am using my first ever BT with them now. Go back many years and FNBO ignores that ... ?
"Send a payment to a bank" - Does that include external bank/cu checking or savings accounts or do you mean strictly credit card lending bank accounts?

If the former, that may work for me. E.g. send x amount to bank checking then pay other cc's just like a bt, but more like a micro loan at 5% interest (0%apy 12 mo.)

Or did you mean something else?

@Anonymous likely meant the BT payment is processed via ACH to the creditor (i.e. bank or financial institution), not directly to your bank's deposit account.

Drifter73 · ‎01-14-2023

Adding a data point to this topic.

So, I apped back in Dec and received the Evergreen card a few weeks later (chip shortage delay). Approval reference: https://ficoforums.myfico.com/t5/Credit-Card-Approvals/FNBO-Evergreen-2-5k-Approved/m-p/6633463#M843...

Since they did not offer ACH balance transfers, I opted for the digital online transfer.

Data points:

Jan 11th - FNBO Evergreen balance transfer requested for $xxxx from Citi Custom Cash. - Approved instantly

Jan 11th - Transfer Pending status at FNBO

Jan 12th - Transfer cleared at FNBO

Jan 14th - Citi processed balance transfer (never showed a pending status)

Total time from request to completion = 3 days.