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Rate just dropped to .92% APY.

turtlebug said:   Rate just dropped to .92% APY.Yikes! They are losing their competitiveness very quickly.

Can we still pull our money out? Or have they enhanced that experience too

Rate dropped again to .86% APY

turtlebug said:   Rate dropped again to .86% APY

I had not seen that. Thank you for posting. Green.

I once had a really large balance with TIAA. My current balance is fifty bucks.

This keeps up I'll just close my account entirely.

TIAA ongoing ineptitude also overwhelms. After an eternity, their website still is incompatible with Google Chrome. I have to switch to MSIE every time I want in. At this interest rate it's just not worth the trouble.

Wow -- they are just about tied with Ally now. Guess I'll just sit tight but this is not looking good.

turtlebug said:   Rate dropped again to .86% APY

Second the thanks! I check periodically but w/ the assumption that they won't slide too quickly. Obviously a bad assumption. Must check more often.
Glad I opened a lifeboat account just in case..............

My guess is that TIAA-CREF opened this bank without a solid business plan or expectation of what would happen. They initially attracted far too many deposits than they expected, since they stopped account opening within a few months of the launch. They don't seem to mind losing deposits from high interest seekers now, so perhaps their loan (mortgage) business isn't as brisk as expected. I suspect that the TIAA Direct rate declines will continue, even if the federal funds rate environment holds steady.

It's also too bad that they haven't integrated their systems with the brokerage/fund side of the house, having multiple logins indicates that the bank is really just a side show or experiment.

Barclay's has been holding steady at 1.0% but perhaps that will change if I move there... Does anyone know if Barclay's does a hard pull for their savings account?

Bad enough TIAA is enhancing the customer experience by dropping the rate from 1.25% to .85% in just a few months. But what irritates me even more is the lack of communication when it happens. Only reason I know is when Mint sends an email. When I had an HSBC Online Savings account, I would get an email about any change in interest rates. Nothing from TIAA. No email, no snail-mail, no pony-express. NOTHING!! Shows the lack of sophistication of this institution.

Will be looking hard for alternatives, as few as there may be these days.

jasmithvr6 said:   Bad enough TIAA is enhancing the customer experience by dropping the rate from 1.25% to .85% in just a few months. But what irritates me even more is the lack of communication when it happens. Only reason I know is when Mint sends an email. When I had an HSBC Online Savings account, I would get an email about any change in interest rates. Nothing from TIAA. No email, no snail-mail, no pony-express. NOTHING!! Shows the lack of sophistication of this institution.

Will be looking hard for alternatives, as few as there may be these days.


Not to defend TIAA, but telling customers of dropping savings interest rate is not a standard practice for banks. I have savings accounts with 2 local banks and 2 online banks. None of them tells me anything when they drop interest rates.

Rate dropped AGAIN to .76% APY.

turtlebug said:   Rate dropped AGAIN to .76% APY.

My account still says .85%. Maybe it depends on how much money you have in there. Where did you see the .76 rate?

hoops77 said:   turtlebug said:   Rate dropped AGAIN to .76% APY.

My account still says .85%. Maybe it depends on how much money you have in there. Where did you see the .76 rate?

It's on the main screen, here.

It doesn't matter how much or little you have in the account. The savings rate is the same.

thanks to turtlebug for the alert........

it's here Text

Thanks, will be moving my money.

turtlebug said:   hoops77 said:   turtlebug said:   Rate dropped AGAIN to .76% APY.

My account still says .85%. Maybe it depends on how much money you have in there. Where did you see the .76 rate?

It's on the main screen, here.

It doesn't matter how much or little you have in the account. The savings rate is the same.

Ouch.. It is time to move out my emergency funds from TIAA-CREF.

Thanks for the alert.

Where do you guys moving? I am going to get out of TIAA as well.

bbmak said:   Where do you guys moving? I am going to get out of TIAA as well.

Barclays looks good.

hoops77 said:   
Barclays looks good.


This thread reminded me to move the balance of my TIAA savings to Barclays. I'm interested in the 2.07% 529 Savings Account in this thread as well.

Somehow I don't think TIAA will be disappointed if they get a lot of withdrawals.

Anyone who believes they can deposit, and then forget, TIAA type money today is delusional. You have to keep a sharp eye on any such deposits. You snooze, you lose.

That said:

For high rates with "any time" withdrawal privilege, it's tough to beat EverBank right now. They are paying 1.25% and the rate is good for six months. So you can snooze, but not for more than six months.

EverBank allows you to deposit up to $150,000 on this basis.

Tried to use the TIAA ATM yesterday and a listed bank wouldn't allow it, no biggie I'll try another. Never made it to another but called TIAA today to ask what I did wrong, she said try another bank. Tried three others today, all the same result...BYE BYE TIAA the idea of your ATM withdrawals was the only reason I was hanging on. Now the paid of $5000 daily withdrawal limits.

CheapFish said:   Tried to use the TIAA ATM yesterday and a listed bank wouldn't allow it, no biggie I'll try another. Never made it to another but called TIAA today to ask what I did wrong, she said try another bank. Tried three others today, all the same result...BYE BYE TIAA the idea of your ATM withdrawals was the only reason I was hanging on. Now the paid of $5000 daily withdrawal limits.

I opened a replacement account at Barclay's (1.00% APY) and initiated the transfer from Barclay's for the full balance of my old TIAA Direct account. TIAA has no withdrawal limits for transfers initiated elsewhere.

NEDeals said:   CheapFish said:   Tried to use the TIAA ATM yesterday and a listed bank wouldn't allow it, no biggie I'll try another. Never made it to another but called TIAA today to ask what I did wrong, she said try another bank. Tried three others today, all the same result...BYE BYE TIAA the idea of your ATM withdrawals was the only reason I was hanging on. Now the paid of $5000 daily withdrawal limits.

I opened a replacement account at Barclay's (1.00% APY) and initiated the transfer from Barclay's for the full balance of my old TIAA Direct account. TIAA has no withdrawal limits for transfers initiated elsewhere.


great, thanks!

I'm moving the remainder of my money out of this account at the max of 5K/day. Just an FYI, if you have not deposited money into your online savings within a 12mo period, they will move your account from "active" status to "inactive" status, which prevents you from transferring any money out. Then you have to call customer service and have them put in a written request to have the account changed back to "active" (which takes 1 to 2 business days) so that you can access your money. In order to avoid this, if you plan to keep money in this account for any reason, you will need to make at least one deposit into your account every 12mo, even if it's only $1.

turtlebug said:   I'm moving the remainder of my money out of this account at the max of 5K/day. Just an FYI, if you have not deposited money into your online savings within a 12mo period, they will move your account from "active" status to "inactive" status, which prevents you from transferring any money out. Then you have to call customer service and have them put in a written request to have the account changed back to "active" (which takes 1 to 2 business days) so that you can access your money. In order to avoid this, if you plan to keep money in this account for any reason, you will need to make at least one deposit into your account every 12mo, even if it's only $1. Wow. This "bank" went downhill fast. I am slowly moving my money out as well.

Anyone know the routing number for initiating a ACH pull?

081086700

Are there any early account closure fees?



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