iGo Banking offers online banking accounts as a division of Flushing Savings Bank of New York. iGo Banking options have no minimum balance requirements, no fees and are fully insured by the FDIC. While the most popular iGo Banking accounts are the savings and checking accounts, the bank also has money market accounts, certificates of deposit (CDs) and IRAs.
About iGo Banking
Flushing Savings Bank, the parent company of iGO Banking, chartered their consumer online banking division in 2006. At the time, the president and CEO of Flushing Bank stated the purpose of founding iGo Banking was to compete nationally in the virtual bank marketplace with flexible online banking services backed by the stability of a traditional bank that has been operating since 1929.
iGo Banking sums up their philosophy in their registered trademark phrase, "Real Simple. Real Smart."
iGo Banking Savings
The iGo Savings Account is a high-interest savings account with a $1 minimum initial deposit, a $1 minimum balance requirement and no monthly fees. Account holders initially fund the savings account through an electronic transfer from an existing external account. Opening the account requires only six simple steps.
iGo Banking Checking
The iGo Checking Account offers the most money management tools of any account offered by iGo Banking with no minimum balance requirements. The iGo Checking Account bears interest, has no fees and consumers can open the account with an initial $1 deposit.
This checking account is considered a true online banking account because it is totally paperless and does not provide customers with paper checks. Account holders conduct all transactions through direct deposits, transfers through linked accounts, the included free debit card and the iGo Online Bill Pay service. However, if an account holder has a paper check they would like to deposit, iGo Banking will accept it by mail at their office in Lake Success, New York.
iGo Banking CDs
Another of the iGo Banking options is the iGo Online CD. iGo Cds provide high guaranteed interest rates. The minimum amount for opening a CD account is $1,000. Once the CD hits its maturity date, the account holder can let it automatically roll over. Other account options at maturity include adjusting the term, adding additional funds and transferring funds or interest into another existing iGo online banking account.
iGo Money Market
The iGo Money Market Savings Account offers customers higher interest than a regular savings account but with more flexibility than a CD account. However, to earn interest and to avoid a monthly fee, the account must have a minimum balance of $25,000.
iGo Banking offers a wide range of online banking options backed by a stable traditional bank.