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Free Checking account with 3.01% APY Archived From: Finance

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alert mods    
   posted: Jan. 26, 2005 @ 10:56a

Dont know how good the bank is, noticed that its a member of FDICwww.ibervillebank.com

Fine print: you should use your debit card atleast "10" times a month and provide them an email ID to receive electronic statement.

Think this is a super hot deal for all those people playing with 0% APR money

I searched b4 posting and could not find anything.


alert mods    
   posted: Jan. 26, 2005 @ 11:04a

3.01% on the first $10K
1.01% on balances above $10K


alert mods    
   posted: Jan. 26, 2005 @ 11:06a

looks good, but the "10 times a month" use of the ATM card seems like such a hassle


alert mods    
   posted: Jan. 26, 2005 @ 11:27a

xpguy said:...seems like such a hassleIt doesn't seem like a hassle. IT IS A BIG HASSLE. Thanks OP but I'll pass.


alert mods    
   posted: Jan. 26, 2005 @ 11:28a

www.cnbt.com is about the same. Decent bank, had account before with them, but they might require DD these days.


alert mods    
   posted: Jan. 26, 2005 @ 11:33a

xoneinax, www.cnbt.com has the same thing, you still need 10 POS transactions with the check card


alert mods    
   posted: Jan. 26, 2005 @ 11:46a

That's what he tried to say.


alert mods    
   posted: Jan. 26, 2005 @ 11:47a

It's not a big hassle. My wife and I have a cnbt joint account, so we each have a checkcard. Then when we buy grocery, we pick up some small items and go to the seft-checkout and slide the card twice each one. By this way, we can use the checkcard 4-5 times instantly. Do this twice every month, that is it!
And it is useful to carry this card in your wallet all the time, because of the ATM rebate, you can get cash from ATM everywhere without worrying about the fee.


alert mods    
   posted: Jan. 26, 2005 @ 9:27p

cityfisher said:It's not a big hassle... Then when we buy grocery, we pick up some small items and go to the seft-checkout and slide the card twice each one. By this way, we can use the checkcard 4-5 times instantly. Do this twice every monthNot a big hassle?


alert mods    
   posted: Jan. 26, 2005 @ 9:32p

rxchng said:Not a big hassle?
Search cityfisher's previous posts and you'll begin to understand.


alert mods    
   posted: Jan. 26, 2005 @ 9:43p

it doesnt say 10 pos transactions though


alert mods    
   posted: Jan. 26, 2005 @ 11:13p

rxchng said:cityfisher said:It's not a big hassle... Then when we buy grocery, we pick up some small items and go to the seft-checkout and slide the card twice each one. By this way, we can use the checkcard 4-5 times instantly. Do this twice every monthNot a big hassle?


you miss out on the 5% rebate you could recieve from several credit cards


alert mods    
   posted: Feb. 13, 2005 @ 7:26p

You can make 10 $1 transactions while getting Gas or use ur check card to get coffee for 10 days a month and thats it

EDIT: I think the hassle is worth the 3.01% APY.


alert mods    
   posted: Feb. 13, 2005 @ 9:04p

pruks said:You can make 10 $1 transactions while getting Gas or use ur check card to get coffee for 10 days a month and thats it

EDIT: I think the hassle is worth the 3.01% APY.

I think the question is whether the hassle is worth an extra .01%. There are at least two places with 3.00% APY. Presidential requires a minimum balance of $1000 and a direct deposit of at least $200 every month. However, you get 50 checks for free. With Emigrant Direct, there's no minimums or any sort of hassle to maintain the account.

Some people don't mind using the debit card 10 times a month, so it will be worth it. Some already meet that requirement, so the extra .01% APY is just an extra bonus.


alert mods    
   posted: Feb. 14, 2005 @ 3:55p

debit card usage = hassle

2 paypal accounts = solution

not worth .01% when you can use emigrant, althought the hassle might be worth actually having a debit card to get quick access to the funds!


alert mods    
   posted: Feb. 14, 2005 @ 5:13p

How would having paypal account be a solution? Doesn't paypal charge fees for receiving debit card payments?


alert mods    
   posted: Feb. 14, 2005 @ 7:40p

paypal does not charge transaction fees when you receive funds from a checking or savings account.

however, if you use a debit card that has a visa logo and input it into paypal as a visa card, you will be charged the fees that credit card users are charged.

i receive monthly rent payments of $400+ via paypal w/ no fees.


alert mods    
   posted: Feb. 15, 2005 @ 10:44a

Do PayPal transactions qualify as debit card transactions?


alert mods    
   posted: Feb. 15, 2005 @ 11:25a

has anyone successfully opened an account?
I tried to open an account online but the Rewards checking (one with 3.01%APY) is too new of a product that it can't be selected as an option.
I called 2 branches, they said I have to come in to open an account.


alert mods    
   posted: Feb. 15, 2005 @ 12:57p

Too much of a hassle, Emigrant is easier. The interest difference is just $10 even with a deposit of 100k.


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