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Free Checking account with 3.01% APY Archived From: Finance

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alert mods    
   posted: Feb. 15, 2005 @ 5:02p


It won't work.

reckner77 said: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 @ 7:34p

You are correct, paypal.com does charge fees for debit cards, which i noted above. I guess the paypal route won't work at all. However, if you have the basic account you are not charged fees for checking/savings transfers.

Another work-around would be to make multiple payments, using the debit card, to some account.. like you cable, cell phone, credit card bill, etc.


alert mods    
   posted: Feb. 15, 2005 @ 7:49p

If you really want to use your PayPal, why not just use your debit card 10 times for 1 penny each?


alert mods    
   posted: Feb. 15, 2005 @ 9:03p

Presidential Bank recently raised their rate from 2.75% to 3% for under 25K.
1500 min to open
1000 min balance

I believe you also have to have at least one monthly direct deposit.

http://www.presidentialbank.com/


alert mods    
   posted: Feb. 16, 2005 @ 5:31a

This is a pretty good deal.

Everyone is forgetting that this is a checking account with both unlimited check-writing privileges and online billpay capabilities. You might as well keep your money here where it is more easily accessible and earn an extra .01% on top of it.

Also, this account does not require a minimum balance a la Presidential or direct deposit a la both Presidential and City National Bank of Taylor. The 10 debit transactions per month aren't really too much of an issue for myself anyway. You can always do 10 small gas transactions.

However, their website really sucks and you must call to set up this particular account.


alert mods    
   posted: Feb. 20, 2005 @ 10:55p

xpguy said: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.

Anyone open an account without going to a branch?


alert mods    
   posted: Apr. 22, 2005 @ 3:37p

its up to 3.45% APY now.

i know myself recently (im just 19) pretty much use my CC for all my purchases to build up my credit, but i could easily use an ATM card or something at WalMart.

like someone said spend an extra 5 minutes and go through a self-checkout and do everything individually, well 10 things

and you can use the atm card anywhere and get the fee refunded, which saves a lot of hassle and money!

am i missing something, because this seems to be to good to be true. i was thinking about UFB Direct, but this is better, less hassle and better interest.

can the direct deposit be from paypal, or ING?
how do you go about funding the account?


alert mods    
   posted: Apr. 22, 2005 @ 5:00p

People behind you are going to be pissed that you do each item one transaction at at time, and you call that no hassle? Go with UFB or Presidential, and you can more than make up the difference by using a Cash Back 5%/1% credit card. I only see 3.01, but even at 3.45, I think it's a big hassle.


alert mods    
   posted: Apr. 22, 2005 @ 5:07p

driggers said:its up to 3.45% APY now.
i was thinking about UFB Direct, but this is better, less hassle and better interest.

it may be less hassle, but UFB has 3.30% APY which is much better than 3.01...


alert mods    
   posted: Apr. 22, 2005 @ 5:24p

wups, i followed a link from another thread.

here is the bank i was talking about. http://www.cnbt.com/products_peraccounts.htm

ehh i goto WalMart late at night when no one is in line
plus unlimited atm refunds, you dont have to worry about transferring funds from savings to checking.


alert mods    
   posted: Apr. 22, 2005 @ 6:18p

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

P.S. FW owners now recommend to mark this way the posts you like


alert mods    
   posted: Apr. 22, 2005 @ 6:21p

cityfisher said: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.
I imagine on camera it looks like shoplifting

Added: And do you think the security guys will understand and believe you?


alert mods    
   posted: May. 5, 2005 @ 8:28p

driggers said:its up to 3.45% APY now.


Where to find this rate? Any link?


alert mods    
   posted: May. 6, 2005 @ 10:46p

wholedeal said:driggers said:its up to 3.45% APY now.


Where to find this rate? Any link?

just for the click


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