is the lower rate (1.5%) applicable only to the excess above 25k, or the whole thing if it goes over 25k?

like if i have 26k, will i get 2.75% on 25k and 1.5% on 1k?

TruthTeller said:dvdjunkee said:is the lower rate (1.5%) applicable only to the excess above 25k, or the whole thing if it goes over 25k?
Only the excess.

thanks for the quick response =)

dvdjunkee said:is the lower rate (1.5%) applicable only to the excess above 25k, or the whole thing if it goes over 25k?

like if i have 26k, will i get 2.75% on 25k and 1.5% on 1k?

Nope, I've got the lower rate on all the balance.

I would be all over this if not for the $25k barrier. Oh well, back to Emigrant...

jwbodnar said:koRebate said:dvdjunkee said:is the lower rate (1.5%) applicable only to the excess above 25k, or the whole thing if it goes over 25k?

like if i have 26k, will i get 2.75% on 25k and 1.5% on 1k?

Nope, I've got the lover rate on all the balance.

No, it's only on the excess. I've got months of statements that bear out such.

so even if it lists the rate on your account page online as 1.5% when its over 25k, thats only on the part above 25k?

Yes, it definitely shows the lower rate online and on your statement when you're over $25k, BUT if you calculate the interest, you find out that they are paying the higher % on exactly the first 25k and the lower % on exactly the excess. Presidential customer service said that's because their system won't allow them to show 2 separate interest calculations per month or two separate percentages at one time.

Boiler said:puddnhead said:Boiler said:Sure, after you send ING a check from Presidential, ING will then add Presidential as an external transfer account.Cool. Did you do that through Presidential Billpay? Do you happen to know the address if so?

I did it with one of the 50 free checks I got from Presidential, I don't write checks much anyway due to billpay. In theory, I suppose you can use the billpay since all the routing and account information are the same but that's not what I did.

A billpay check wasn't linked for me. But they sent me prepaid envelopes when I called.

no way Zender, really?
I wouldn't have guess that.

Ok smart aleck, how do you get direct deposit from your business account?

The rate on the excess over $25K has also raised..1.75% now.

ccrzhh said:moneycometh said:Does Presidential pull a hard inquiery when we open their internet checking account?
YES unless they changed recently
Also, they won't open the checking if your credit history has old address on file. No negotiations help. My relative offered them to send bills but CSR rejected and even did not know what was the reason ("couldn't verify, check your credit report").

I went through this. All you need is a photocopy of a current utility bill, tax payment, or driver's license with current address. If you choose either of the two former options, you still need to send them a copy of your license regardless (even if its old address). Its a slight hassle, but not really that big of a deal.

Mark