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Updated: Presidential Internet Checking up to 4.50% APY! Archived From: Finance

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   posted: Jan. 26, 2005 @ 1:03p

7/21 Update: Presidential Internet Checking now up to 3.50% APY

5/13 Update: Presidential Internet Checking now up to 3.25% APY

Just noticed this while checking my account online with Presidential Bank. It looks like the rate for the Internet Checking is going up to 3% APY on the first $25k. They must have just changed it because the animated graphic and the detailed information page still show the 2.75% rate, but the text references on the homepage show 3%.

Presidential Bank Home Page

Guess I won't be moving most of my money to Emigrant after all!

Edit: Looks like they have changed it back to 2.75% on their home page. Maybe they are planning an increase in the near future? We'll see I guess.

2/8 edit: They have changed it back to 3% and appears to be here to stay! See new postings below...

Moderator Edit: Updated title at the request of users to reflect new rate.


   posted: Jan. 26, 2005 @ 1:03p

9/26 Update: 4.0% APY
2/1 Update: 4.25% APY
4/3 Update: 4.37% APY
5/15 Update: 4.5% APY
9/26/06 Update: Free inbound (pull) ACH, $3.50 fee for outbound ACH

Message edited by: longwood8 on 2006-09-26 22:31:42 CDT
   posted: Jan. 26, 2005 @ 1:14p

Gotta love banks competing for your business
ING needs to get on the ball and raise rates (I've got $1 there now)


   posted: Jan. 26, 2005 @ 1:27p

yeah! won't be moving to emigrant direct either.


   posted: Jan. 26, 2005 @ 1:52p

Good, I haven't open emigrant yet.

In my Presidential account, it still shows 2.720%, may change soon.

exciting


   posted: Jan. 26, 2005 @ 1:56p

they changed 3% APY back to 2.75%

check again?


   posted: Jan. 26, 2005 @ 2:01p

earthsci said:they changed 3% APY back to 2.75%

check again?

I do not see the 3%?


   posted: Jan. 26, 2005 @ 2:11p

Yeah, I wonder when American Bank will raise theirs? It was among the highest when I signed up. Though still better than most places, but currently at 1.75%, and been there for a while.

-Mike


   posted: Jan. 26, 2005 @ 2:20p

earthsci said:they changed 3% APY back to 2.75%

check again?

B@st@rds...definitely says 2.75% again.

Hopefully they are planning to increase and just let the cat out of the bag a little early. I'm going to be upset if they are just teasing us!


   posted: Jan. 26, 2005 @ 2:32p

3% was probably a typo, since I saw it on their website as 3% too.
It is now back to 2.75%


   posted: Feb. 7, 2005 @ 11:02a

changed back to 3% today, but still 2.72% in my account

All the information on their website is changed


   posted: Feb. 7, 2005 @ 2:31p

I asked Presidential why my account didn't get updated, Here is the answer

The change just took place today, therefore, you will not see the change on
your account until tomorrow. You will be earning the new rate effective
today. Thank you.


Joseph A. Muir
Presidential Bank
Internet Branch Manager
Retail Operations
Bank Security Officer
1-800-383-6266
josephm@presidential.com

-----Original Message-----
From: CornHusker
Sent: Monday, February 07, 2005 2:53 PM
To: email@presidential.com
Subject:

I just noticed Presidential has raised the interest rate to 3%, but why my
account still showing 2.75%. When this will be changed?

Thanks.


   posted: Feb. 7, 2005 @ 3:02p

Very nice! And I was just thinking about setting up an Emigrant account. If you have the ability to do direct deposit, this is now the best place to put 25k and still remain as liquid as possible.

Mark


   posted: Feb. 7, 2005 @ 4:01p

Is there any way to directly transfer money from ING to Presidential Bank?


   posted: Feb. 7, 2005 @ 4:09p

Sure, after you send ING a check from Presidential, ING will then add Presidential as an external transfer account.


   posted: Feb. 7, 2005 @ 4:29p

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?


   posted: Feb. 7, 2005 @ 5:29p

It's back up to 3%!


   posted: Feb. 7, 2005 @ 5:48p

I am thinking about signing up for a new Internet Checking PLUS which will give me the 3% rate but I have no way of setting up a monthly electronic deposit of $200. Will they charge a fee if there is no monthly electronic deposit? Any way to avoid that fee?

Thanks


   posted: Feb. 7, 2005 @ 5:54p

furrypanda said:I am thinking about signing up for a new Internet Checking PLUS which will give me the 3% rate but I have no way of setting up a monthly electronic deposit of $200. Will they charge a fee if there is no monthly electronic deposit? Any way to avoid that fee?
No fees, but they'll convert your account to "Internet Checking" which is a less attractive product. It may take them awhile before they figure out your not doing direct deposit (try to avoid calling customer service).


   posted: Feb. 7, 2005 @ 10:32p

"Account requires an electronic monthly deposit of $200 or more from payroll, annuity, pension, or a business account."

Anyone know what is meant by "business account"


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