Review on FMO by Robert Davidson
Unnerving affiliate
FMO is a Dutch development finance bank based in thesterdam, The Netherlands. FMO bank provides services to the public as well as private sector. FMO mainly handles cash and check management for publics through debit cards and prepaid check system. FMO bank charges a fee for their debit card and check processing services.
FMO bank allows customers to withdraw cash by using a debit card and e-checks. Deposits to be made on debit card may be withdrawn through ATM machines or online. Electronic check systems are used to facilitate the withdrawal of funds. Both debit card and electronic check may be funded by direct deposit into the account or by using credit/debit card.
Service Fee
The service fee is levied according to the number of debit cards, e-checks and loans that you wish to process through the FMO bank. Service fees are charged based on the service period i.e. the amount of money you wish to process through the bank. State fees may also be levied if state law requires it.
FMO bank levies state and local taxes in different states depending on your place of residence. Account-opening Cost Though there are many other costs involved in opening an account through an FDIC insured institution, the service cost should not be ruled out. The service charge is typically levied on the debit card or a check that is used to purchase goods from the bank. This account-opening cost is generally less than half the amount of an ordinary bank overdraft. This is because when you use a debit card, the transaction is made without cash and hence the debit card company does not incur any service cost.
Pros
- Protracted firm
Cons
- Fiddly management
