FNBO Direct has just stated a promotion for its BillPay Account. FNBO Direct is famous for its high interest rate and easy money transfer. I believe many readers have the FNBO Direct savings account. This $25 bonus is a very easy money to get as long as you open a BillPay Account and make an online billpay in 90 days. This promotion will expire on 04/30/2008.

Details of the promotion:

* Limited Time Bonus Offer: If you are a current FNBO Direct Online Savings Account customer, you can earn a $25.00 bonus for opening a new FNBO Direct BillPay Account. We will credit the bonus to your BillPay Account within 30 days after it is opened. In order to earn the bonus, your BillPay Account must remain open for 90 days and you must make at least one BillPay payment during that period (we reserve the right to deduct the amount of an unearned bonus from any account you have with us). This offer is only applicable to BillPay accounts opened on or after 03/25/08 and is limited to one bonus per household. This promotion is set to end on 04/30/08, however, we may change or discontinue this offer at any time. The FNBO Direct BillPay Account pays an annual percentage yield of 2.50%. The APY is accurate as of 03/25/08 and is subject to change. Fees may reduce earnings.

You can find the promotion page here.

Features of the BillPay Account:

• No minimum balance required to open
• There is no monthly fee
• Paper checks cannot be used
• BillPay payments from your BillPay Account may not be less than $5 or more than $10,000
• Your ATM Card can be used at any PLUS networks ATM without a foreign ATM charge.

As far as I know, FNBO launched this account in November, 2007. It’s designed to be like ING Direct’s Electric Orange account in that there are no paper checks. The BillPay account has a current yield of 2.50% APY.

Note: NO hard pull has been reported for opening an accout at FNBO. You can always check my “Hard Pull and Soft Pull” to see whether the banks will pull your credit report when you want to open an account there.