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(Now DEAD !!) Worldsavings 7 months cd 4.16% APY Archived From: Finance

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alert mods    
   posted: May. 23, 2005 @ 6:31p

Just got a letter in mail inviting to open a 7 months CD at 4.16% APY.

This offer is now available online too ...

link


   posted: May. 23, 2005 @ 6:31p

THIS DEAL IS NOW DEAD!
DEAL NOW ONLINE, the link in OP is simplest way to get in on deal.

Old Way (Per Lonchik): FYI: No need to be local. The deal is not limited to local residents. I'm in Georgia and did everything over Internet / phone. So the deal is pretty much open nationwide.

Here are the steps "to get you in":


1. Go to http://www.worldsavings.com/, and click on Open a New Account.
2. Fill out the application. On the page where you select which product you want, select 13 month CD. $10,000 is the minimum to open. As geo123 has noted, if you have $20K or more, submit a separate application for each CD in case you'll need the money before 7 months are up and need to break the CD prematurely.
3. Print out the form when it tells you to do so. On the print out, cross out where it says 13-month CD and the rate, and handwrite a note to say something along the lines of "pursuant to the attached promotion, I request to open a 7-month, 4.16% APY CD. I do not authorize the opening of any other account type."
4. Mail the application (address is on the printout). Make sure to attach the printout of the promotion AND the check!!! If opening multiple cd's, I'd recommend mailing each one separately (and attaching the flyer to each one) to avoid potential confusion.
5. (the rest is optional) Once you receive email from them, you can create online banking login. Go to their website and go through the process of establishing login. At some point it'll ask you for the account number. The number in the email is NOT the account number. Call them, and they'll give it to you over the phone.
Once login id is confirmed, and if you opened more than one CD, call to get the rest of account numbers and add them to the online profile.

Early Withdrawal Penalty = 3 months of interest or all interest if CD is broken prior to 3 month date.


DEAD NOW

Message edited by: geo123 on 2005-07-11 21:53:40 CDT
alert mods    
   posted: May. 23, 2005 @ 6:40p

Don't see anything on the website.


alert mods    
   posted: May. 23, 2005 @ 8:59p

Scan? Website?


alert mods    
   posted: May. 24, 2005 @ 1:20p

This deal has been going on for a while but not advertised. Simply go to a local B&M branch and ask a rep to open an account (7-month CD special). I just confirmed this deal locally (4.08% with 4.15 APY, min $10000 and max $100k). I was told the deal would expire sometime in mid-July. Good deal since Corus Bank offers 12-month CD at 4.05 yielding 4.11.


alert mods    
   posted: May. 24, 2005 @ 4:35p

CSR replies by email that account may be opened by phone.


alert mods    
   posted: May. 25, 2005 @ 2:22p

I was able to go in and open the 7 months cd at 4.16 APY by just mentioning the special rate


alert mods    
   posted: May. 25, 2005 @ 3:44p

So if you put 10K with 4.16 APY, what you are going to earn after 7 months? 238$


alert mods    
   posted: May. 25, 2005 @ 3:59p

Don't like $238 in 7 months? Use the $10k to buy 10 lawn mowers, hire 12 illegal workers, and start mowing. You hire 12 to give yourself a cushion in case 2 get deported. Rotate your crew daily so you wouldn't have to pay 2 guys to stand around. You can make 50% return investment in 7 months easily.

Sound too risky? That's why they have CDs paying 4.16% for risk averse people.


alert mods    
   posted: Jun. 1, 2005 @ 4:16p

Whether no resident alien individual can take this offer?
Some bank, like ING, do not service for no resident alien individual.
When you send W-8BEN form to them, they will close your account.

manish22 said:Just got a letter in mail inviting to open a 7 months CD at 4.16% APY.


alert mods    
   posted: Jun. 1, 2005 @ 4:40p

I know its completly different question but Who files for W-8BEN ? Why ING will close the account ? What happens to ED ?


alert mods    
   posted: Jun. 1, 2005 @ 4:55p

no resident alien file W-8BEN form, while resident alien file W-9 form.(For tax purpose)
For no resident alien, interest of bank accounts is free of Tax.

ING Direct require only resident alien can open account with them.


Love said:I know its completly different question but Who files for W-8BEN ? Why ING will close the account ? What happens to ED ?

I don't know what about ED.


alert mods    
   posted: Jun. 2, 2005 @ 9:04a

No WorldSavings Bank in Massachusetts Nearest is NY and NJ.

But if moniker's reply is correct, may be we can open an account on phone , definately online works too !!

dunno whether the "Special Rate" would hold or not ..


alert mods    
   posted: Jun. 2, 2005 @ 10:21a

Opened an account by phone in TX. It took a little doing. E-mail customer contact inquiring about the account, then refer to the e-mail when you call. They are not very open-mouthed about the availability of the account.


alert mods    
   posted: Jun. 2, 2005 @ 4:57p

When I was a non resident alien, I just checked resident alien on all bank/investment related things. What they care about is whether you file 1040 or 1040NR with IRS. If you file 1040 then your are a resident for tax purposes and that is all they care about ( I was told this when I opened my first account in US)


ussrfw said:Whether no resident alien individual can take this offer?
Some bank, like ING, do not service for no resident alien individual.
When you send W-8BEN form to them, they will close your account.

manish22 said:Just got a letter in mail inviting to open a 7 months CD at 4.16% APY.


alert mods    
   posted: Jun. 4, 2005 @ 10:55a

is there anyway for you to scan the letter? my bank requires the actual letter to give me the rate. btw, thanks op! this is a hot deal if it goes through.


alert mods    
   posted: Jun. 4, 2005 @ 11:48a

I can fax it to you on monday if you PM me fax number. I've already faxed it to a few other fw members.


mariamania said:is there anyway for you to scan the letter? my bank requires the actual letter to give me the rate. btw, thanks op! this is a hot deal if it goes through.


alert mods    
   posted: Jun. 4, 2005 @ 10:05p

Somebody after reading this forum asked me to fax the copy of the letter and gave his fax number. I lost that number. I did not know that private messages disappear after first reading. Whoever it was please PM your fax number again if you want it.

Manish


alert mods    
   posted: Jun. 5, 2005 @ 2:58p

Manish, I don't have easy access to a fax, would you be willing to e-mail it to me?


alert mods    
   posted: Jun. 5, 2005 @ 3:02p

manish22 said:I did not know that private messages disappear after first reading.

You should see the lost message here.


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