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New Presidential FSB Premier Savings Account paying 5.25% APY Archived From: Finance

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alert mods    
   posted: May. 12, 2005 @ 10:24p

Here's the web page:

http://www.presidential.com/PremierSavings.htm

Minimum $5000 to open.

Like their fine checking account, this account also has a limited amount on which you can earn the higher rate. In this case, it's $35000. Amounts over this earn 2.25% APY.

No monthly fees if you maintain the minimum balance.

You can read the details on their web page.

I'll also add this to the Daughter of the Mother of... thread.

Edit: The actual interest rates are 3.45% and 2.23%.

Update: As of July 5th, the Premier Savings Account now pays 3.75% APY on balances up to $35K and 2.50% APY thereafter. The actual interest rates are 3.69% and 2.47%, respectively.

Edit by Moderator: Clarified Title
Edit by Moderator: Clarified Title


   posted: May. 12, 2005 @ 10:24p

Routing #: 255073345
10/23/06 update: 5.25 APY
6/30 update: 5.12% APY
5/19 Update: No more fees, if account balance falls below $5,000 after it's opening
5/15 Update: 4.87% APY
4/28 Update: 4.75% APY starting 5/1
4/4 Update: now 4.62% APY
1/31 Update: Presidential Premier Savings now up to 4.37% APY
2/1 Update: Presidential Checking now up to 4.25% APY (more important update for me)

Message edited by: cheaparse69 on 2006-10-22 18:50:50 CDT
alert mods    
   posted: May. 12, 2005 @ 10:30p

HOT!

Mark


alert mods    
   posted: May. 12, 2005 @ 10:42p

*Presidential. Premier Savings Account pays a 3.50% Annual Percentage Yield (APY) on balances up to $35,000, 2.25% APY on any portion of balance in excess of $35,000. Minimum to open $5000, minimum balance to avoid monthly fees, $5000. Presidential Bank reserves the right to close this account to additional customers at any time. Only one Premier Savings Account per primary taxpayer identification number.


alert mods    
   posted: May. 12, 2005 @ 11:19p

Cheezy website scares me. What have people's experiences been like with this bank and account?


alert mods    
   posted: May. 12, 2005 @ 11:21p

Hey, they're very good. I've been with them for over 1 year and very happy. As long as a bank is an FDIC member, you got nothing to worry about.

slimcustomer said:Cheezy website scares me. What have people's experiences been like with this bank and account?


alert mods    
   posted: May. 12, 2005 @ 11:32p

I agree.

I have been with them for more than a year and do all my bill pay through them. I also have a branch near my place and go there once in a while to deposit money. They are awesome.


fatsoccer said:Hey, they're very good. I've been with them for over 1 year and very happy. As long as a bank is an FDIC member, you got nothing to worry about.

slimcustomer said:Cheezy website scares me. What have people's experiences been like with this bank and account?


alert mods    
   posted: May. 12, 2005 @ 11:38p

Thanks OP.

Anyone knows about ACH in/out feature of this account?


alert mods    
   posted: May. 13, 2005 @ 12:24a

i've been with presidential for over a year and they rock. no need for emigrant/ing.


alert mods    
   posted: May. 13, 2005 @ 12:45a

Thanks OP! Give you green.
I am thinking over this one, because it needs $5k commitment. The low balance fee is $7.50.


alert mods    
   posted: May. 13, 2005 @ 1:22a

opened too many in a span of 3 wks, time to stop


alert mods    
   posted: May. 13, 2005 @ 6:51a

kaiotes said:opened too many in a span of 3 wks, time to stop

worried about chexsystems huh, makes sense *sarcasm*

P.S. Everyone start writing emails to emigrant, ING, etc.


alert mods    
   posted: May. 13, 2005 @ 7:35a

****Banking Regulations limit the number of pre-authorized or telephone funds transfers to your other accounts or third party transactions to six (6) each 30 day period; no more than three (3) can be by check or draft. If you routinely exceed these withdrawal limitations, the bank may close the account.


alert mods    
   posted: May. 13, 2005 @ 10:46a

Does anyone know if Presidential transactions (both savings and checking) can be downloaded into Quicken software?


alert mods    
   posted: May. 13, 2005 @ 11:15a

hi - just called presidential - they do not support quicken 2005 and will not support quicken in the future; however, they do support money.....

anyone else with experience with this bank? been planning to put some money into emigrant for a while, but if this is good and legit, that's where the money'll roll!


alert mods    
   posted: May. 13, 2005 @ 11:30a

Does anyone know if they do a credit pull for this account...and if so, is it a hard or soft pull?


alert mods    
   posted: May. 13, 2005 @ 11:36a

They pulled a hard on the checking, I'd imagine they do the same here.


alert mods    
   posted: May. 13, 2005 @ 11:46a

Presidential has consistently been one of the top interest rate banks for a while. This is just them retaking the lead. Its 'hot' because they had let it slip for a few months and now they are showing that they won't be left behind.

Please search this forum. We've talked about Presidential more than a few times. They are very reputable and not likely to drop the rate in some sort of 'teaser' fashion.

Mark


alert mods    
   posted: May. 13, 2005 @ 12:27p

They do a hard pull and whats worse, they reject applicants sometimes for no reason. I think once they fill their quota they have no interest in additional accounts.


alert mods    
   posted: May. 13, 2005 @ 12:37p

niktobos said:****Banking Regulations limit the number of pre-authorized or telephone funds transfers to your other accounts or third party transactions to six (6) each 30 day period; no more than three (3) can be by check or draft. If you routinely exceed these withdrawal limitations, the bank may close the account.

That's a federal restriction on savings accounts and applies to all of the savings account/MMA deals posted in the Daughter of the Mother of... thread, including places like WFB, UFB, ING, Emigrant, etc.


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