Just an FYI....

They were 2.5% in May, I asked the CSR about the history of this type of account and if it was in fact a teaser. She said no, and that they are consistently offering the highest interest rate on this type of account in the country.

Remember, just because it doesn't show up at Bankrate.com doesn't mean its not out there. Look at PenFed's great CD offers not too long ago, that never showed up at Bankrate and that was 1%+ than anything available at the time.

Hey mbaker4096,

You posted this in another thread about 0% balance transfers here.
The rest is indeed in a Superior Savings FReD account (which does BTW actually allow ACH debits/credits in spite of their vehement denials). I'll post something similar in the Superior Savings thread to keep from further derailing this one.

Can you post your experiences doing ACH in and out of the Superior FReD account? Which institutions are you using to initiate the ACH's? Are you doing it with the actual FReD account, or the linked free checking account? Please post details. I have ING, VirtualBank, Citibank, and Presidential accounts...

Thanks!

Thanks mbaker4096. I don't have a CapOne account, and unfortunately it seems that both ING and VirtualBank require you to send a check from each account that you want to link for ACH's.

I guess I can connect the free checking account, but I'm curious how you were able to initiate the ACH from Capital One without first using a check to link the accounts. Does CapOne just not have this additional requirement?

Hmm, checked out the CapOne account, and it's not bad. 2.15% APR, no fees, no minimums. I'm gonna open an account there. Why not? Nothing to lose...

Thanks.

So any guesses as to what will happen with the rate in 2005? I remember reading that the 3.04% APY was fixed until 1/1/2005. Is this a teaser rate?

Where will you move your money if Superior's rates fall in 2005?

Mark, I looked at Presidential. They require Direct Deposit for the 2.75% rate. How do you plan to fulfill the obligation ? (and do you know that it will work..)

EricGo said:Mike, I looked at Presidential. They require Direct Deposit for the 2.75% rate. How do you plan to fulfill the obligation ?I have a Presidential account set up from earlier and sitting idle with a little more than the $1,000 deposit required to avoid fees.

Every two weeks, I get paid via DD and $200 of it goes into my Presidential Account. Occasionally, I move the excess with the starter checks provided by Presidential or via ACH/EFT into other internet banking accounts as needed.

As Gnat mentioned, they appear to be flexible re: the Direct Deposit requirement, but 2.75% isn't a bad rate, so I'm not too annoyed that I'm not getting maximum benefit with every last cent earning the 3.04% APY at Superior.

Yep, both work...I pushed $1800 over there a month or so ago, and just pulled $1000 back to my CapOne account on Monday.

Agreed, if you need the money *now* better to set up the checking account, transfer funds to checking and then use one of the 7 (*ouch*) starter checks they give you to withdraw.

Good luck!

I'm surprised no one updated this thread today, as the rate for the next six months was supposed to be announced. Their site says 3.00% APR/3.04% APY as of 01/01/05, but that's not necessarily the new rate.

Anyway, I just called them and the CSR said they'd know by the end of the day (they close at 5 PM EST).

Called them again before the end of the day. Same rate confirmed for the next six months: 3.00% APR/3.04% APY.