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Pacific Trust Bank is offering a savings account special with rates guaranteed through 2013. The competitive rates require a large balance.
The Special is for the PacTrust ONE account, and it has the following rate tiers:
1.25% APY for balances of $250K and over
1.00% APY for balances of $100K to under $250K
0.50% APY for balances of $25K to under $100K
Minimum balance to open is $25K

The account advertises a branch visit, but some readers (including me) have commented that the bank is letting them open the account without a branch visit.
PacTrust Bank is located in Southern California

Member Summary
Most Recent Posts
I just received my 1.25% interest payment today for March.
I have the balance of $250K+ and received $120+, so I'm sure o... (more)

pattyB (Mar. 30, 2013 @ 10:08a) |

$120 / $262,000 = 0.00045801526

1.00045801526 ^ 12 = 1.0055

This means you're earning an annual rate of approximately 0.55... (more)

orangecolt (Mar. 30, 2013 @ 10:27a) |

Actually I opened the account with PacTrust 3/13 with $25K-interest .50%
On 3/15 I added to acct and balance was $125K-in... (more)

pattyB (Mar. 30, 2013 @ 12:20p) |

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Is there a hard inquiry?

No, when I spoke to a rep about opening the account online, he took all my info by telephone. The only requirment was to have my signature card (which he e-mailed) notarized and returned.
The process was painless. The signature card had the account number listed and I proceeded to Alliant Credit Union to start the ACH transfer process of the 2 small deposits. I opened the account with a personal check for $25K, all snail mailed to PacTrust.

More information here.

$250k and up? As Kevin on Shark Tank would say, "You're dead to me."

True, this does take a larger sum to gain the 1.25% rate. But when the balance drops below $250K, they offer a nice rate of 1.0%, which is respectable in these times.


FDIC counts beneficiaries for insurance purposes.
Setup a living trust and with 5 beneficiaries to be given $5 each.

EDIE will report it as insured for $1.25 million, and IRS will count interest as taxable to the grantor.

Yes, having beneficiaries for this account is a must.
I opened the account with only 1 POD which is fine at this time. I have a couple CD's that mature in July and if nothing beats 1.25% I'll add more beneficiaries to the account.
For liquid funds I think PacTrust is the best going at this time.

please add "ballers only" to title

Not true!
Just trying to make a few bucks in these trying times..

pattyB said:   True, this does take a larger sum to gain the 1.25% rate. But when the balance drops below $250K, they offer a nice rate of 1.0%, which is respectable in these times.

Are you sure you get 1.25% on everything? It sounds like it could be a progressive tiered interest rate. For example, with 250K you would get:

0% for the first 25K
0.5% for the next 75K
1% for the next 150K

resulting in..... 0.75% effective interest.

So the breakeven of beating the plethora of ~0.75% savings accounts out there is the FDIC limit.

No, incorrect!
I have invested in PacTrust.
I have $262K in PacTrust ONE account and the rate on the account shows 1.25% interest on the full amount.

pattyB said:   No, incorrect!
I have invested in PacTrust.
I have $262K in PacTrust ONE account and the rate on the account shows 1.25% interest on the full amount.


Ok, good to know. I was just pointing out the possible weasel language used and how some other FIs implement a similar tiered structure.

pattyB said:   No, incorrect!
I have invested in PacTrust.
I have $262K in PacTrust ONE account and the rate on the account shows 1.25% interest on the full amount.

Pics ?

Pics??

pattyB said:   Pics??

Yeah, he's asking for proof pics of your online banking view that the interest you earned was 1.25% of the whole balance.

He expects me to pull up my account and print it here. Give me a break!
He can pull up the site and see the info for himself.

pattyB said:   He expects me to pull up my account and print it here. Give me a break!
He can pull up the site and see the info for himself.


No, he can't. It's not that crazy of a notion, as people have done it here. Black out personal info, show the entry of your interest posting.

Actually, I'm not that computer savy.
He could just phone Pacific Trust Bank and ask them that question.
Believe me, I checked all the facts and I am drawing 1.25% interest on my whole balance. Now, when I must withdraw for Bill Pay and my balance drops below $250K, my interest will also drop down to 1.0% until I manage to add more funds to move the balance back over $250K.

At this point in time, I'm looking for any Bank or Credit Union that offers 1.25% for liquid funds guaranteed thought 2013.(actually any interest rate higher I would accept)

I recently removed funds from the Stock Mkt! Guess this was a big mistake.
Now I'm getting 1.25% with Pacific Trust. Not bad for my liquid funds.

I just received my 1.25% interest payment today for March.
I have the balance of $250K+ and received $120+, so I'm sure of the interest rate.

$120 / $262,000 = 0.00045801526

1.00045801526 ^ 12 = 1.0055

This means you're earning an annual rate of approximately 0.55%, not 1.25%...unless the $120 was only a partial month's interest for March.

pattyB said:   I just received my 1.25% interest payment today for March.
I have the balance of $250K+ and received $120+, so I'm sure of the interest rate.

Actually I opened the account with PacTrust 3/13 with $25K-interest .50%
On 3/15 I added to acct and balance was $125K-interest 1.00%
On 3/22 I increased the balance to $261K-interest 1.25%
So all and all the $120.61 interest was for a partial month at different rates.



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