I see it on their homepage but I don't see the 3.25% in my account details!! If they changed the rate yesterday, it should have reflected in my account this morning! anyone else see it in their account?
pondscum said:I see it on their homepage but I don't see the 3.25% in my account details!! If they changed the rate yesterday, it should have reflected in my account this morning! anyone else see it in their account?
this is for a checking account and not a savings account.
I have some questions about this bank though if anyone knows the answers to them.
Have they always had some of the highest interest rates or is this new? How is the customer support?
Would this be recommended to be your only checking account or should I keep my local one open just in case?
If I had my paycheck direct deposited to a Presidential Plus checking account is it free to have money transfered to and from to ED and ING?
I am new to the internet banking scene. Has this bank been around for awhile? I really do not want to take a chance on it.
thanks to anyone who can help with my questions. I might actually have enough money to start one of these by the end of the year. I think my current checking account gains .15% interest which is basically nothing.
1. They've always had some of the highest interest rates.
2. I don't know about their customer support because I've never had to resort to it.
3. I also keep a local checking account with a very small balance simply for free ATM access (Presidential is based in a different state than where I live).
4. I'm fairly certain that transfers to Emigrant Direct and ING are free.
5. This bank has been around at least 10 years and is FDIC insured.
Also, as someone mentioned earlier, this 3.25% applies only to your first $25,000. Amounts in excess of that get a 2% rate.
1. They've always had some of the highest interest rates.
2. I don't know about their customer support because I've never had to resort to it.
3. I also keep a local checking account with a very small balance simply for free ATM access (Presidential is based in a different state than where I live).
4. I'm fairly certain that transfers to Emigrant Direct and ING are free.
5. This bank has been around at least 10 years and is FDIC insured.
Also, as someone mentioned earlier, this 3.25% applies only to your first $25,000. Amounts in excess of that get a 2% rate.
It will take me a long time to get up to 25,000 dollars so I am alright with that.
How do you get paper checks from this bank? I found there website and I didn't find info about that.
I have never used online bill payers before. It looks like for a Presidential Online Plus checking account they will let you use there bill paying software 10x a month for free.
I get a monthly car loan bill in the mail. Does anyone know if I can pay a paper bill like that one somehow with the bill payer software to save on a stamp?
CyByte said:I have never used online bill payers before. It looks like for a Presidential Online Plus checking account they will let you use there bill paying software 10x a month for free.
I get a monthly car loan bill in the mail. Does anyone know if I can pay a paper bill like that one somehow with the bill payer software to save on a stamp?
Yes you can. You just need to give them the account number and address.
But if you've never used online bill payment before, let me warn you of a common mistake: People assume that their bill will be paid instantly. In a few cases the bill paying service has to mail a paper check. But even if the payment is sent electronically, that does not mean that your car loan account will be credited the same day the online payment is made. Don't schedule your payment for the very last minute. Make your first payment to any given company a week or two before the deadline (or at least make a small test payment) and check to see how long it takes them to credit your account. Once you know this, you can schedule closer to the deadline.
In fact, if you are uncomfortable, try sending a $1 payment to your car loan company and see if it is credited properly (and send your full regular payment by mail until you are satisfied it works).
oelephant said:CyByte said:I have never used online bill payers before. It looks like for a Presidential Online Plus checking account they will let you use there bill paying software 10x a month for free.
I get a monthly car loan bill in the mail. Does anyone know if I can pay a paper bill like that one somehow with the bill payer software to save on a stamp?
Yes you can. You just need to give them the account number and address.
But if you've never used online bill payment before, let me warn you of a common mistake: People assume that their bill will be paid instantly. In a few cases the bill paying service has to mail a paper check. But even if the payment is sent electronically, that does not mean that your car loan account will be credited the same day the online payment is made. Don't schedule your payment for the very last minute. Make your first payment to any given company a week or two before the deadline (or at least make a small test payment) and check to see how long it takes them to credit your account. Once you know this, you can schedule closer to the deadline.
In fact, if you are uncomfortable, try sending a $1 payment to your car loan company and see if it is credited properly (and send your full regular payment by mail until you are satisfied it works). In fact, Presidential is the only known to me bank (I guess there might be others - I just dont know) where you enter due date, not send date and they decide themselves when and how to pay. Anyway, I would suggest to schedule 1-2 days in advance if you are not sure the payment will be electronic - their responsibility is limited by $50(?). They use CheckFree bill payment company - the same as MBNA uses - so, it is reputable.
CyByte said:I have some questions about this bank though if anyone knows the answers to them.
Have they always had some of the highest interest rates or is this new? Seems like always - see graph on their home page 5-6% in 1996-2000. Hope it will be the same in a year
How is the customer support? Friendly. Not in India as in big ones. No long waiting.
Would this be recommended to be your only checking account or should I keep my local one open just in case? Keep local - it's better to deposit your checks there and send money electronically to Presidential - free UBoC is a good choice. They send outgoing bill payments as ACH transfers. 2 days.
If I had my paycheck direct deposited to a Presidential Plus checking account is it free to have money transfered to and from to ED and ING? Sure. Just establish Pres as external account in ED and ING
I am new to the internet banking scene. Has this bank been around for awhile? I really do not want to take a chance on it.
They say, America's 1st Online Bank since 1995. "Presidential Bank, FSB, was organized in 1985. Our assets are about $200 million. Our main office is located in Bethesda, Maryland. We have branches throughout the metro DC area"
thanks to anyone who can help with my questions. I might actually have enough money to start one of these by the end of the year. I think my current checking account gains .15% interest which is basically nothing. First check your credit report. They will reject you if it records your old address. No phone bills will help.
How do you get paper checks from this bank? I found there website and I didn't find info about that. "FREE initial check order of 25 checks" (used to be 50) Then order in WalMart or a special in each Sunday newspaper insert for $5-7 for 150-200 checks
ohhenry1 said:I also keep a local checking account with a very small balance simply for free ATM access (Presidential is based in a different state than where I live). WaMu ATMs are free form both sides if you have them in your place
TAKE NOTE! Presidential checking is fee-free IF you keep the balance over $1000.00.
Emigrant savings is free no matter what. I don't know any reason why I wouldn't have at least that much in the account, but you never know what unplanned things might happen. I'm gonna get Emigrant.
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If they changed the rate yesterday, it should have reflected in my account this morning! anyone else see it in their account?
