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.

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

Good, I haven't open emigrant yet.

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

exciting

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

check again?

I do not see the 3%?

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!

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

All the information on their website is changed

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

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

It's back up to 3%!

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).