MoneyMarket - 3 months promo 4.0% Archived From: Finance |
Amboydirect.com has 3 month promotion with 4.0% with and I think their regular rate is 3.15 or 3.25 (Not Sure) comparable to ING and EmigrantDirect.
I think you need to maintain 30k to earn the promo rate.
Business Account also earn this high rate.
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Yeah but ING is free, FDIC insured, and is a liquid account
and no minimum
BTW
Wrong Forum
Amboydirect.com is free and FDIC insured and liquid as well.
Though one point I missed is you need to maintain 30k to earn 4.0%
just talked to a customer rep. seemed very pleasant and knowlegeable. To get the 4% you need 30k minimum new money up to 100 k maximum . Ok for out of staters. after 3month rate would go to thier normal money market rate currently 3.15 , which changes monthly . No fees. Seems like a no brainer . goodbye emigrant .
Amboydirect MM Link
This suggests 4% for 3 months, and then 3.42%. Other terms worth noting:
- $5K min for earning interest, no min balance (promo may require $30K)
- max $250K per account
- guarantee's their MM rate to be 1/2% higher than the average of several big NJ banks
- 4 monthly bank to bank transfers, free, done online
- deposits accrue interest 2 business days after deposit, and will be available for withdrawal after 5 business days.
Seems pretty good. The promo rate is worth an extra $55 relative to an existing 3.25% account, and an extra $75 relative to 3% account over the 3 months.
Is there an amgirldirect too? 
No, But there is an Amboy Dukes , they had a hit in 1968 , Journey to the center of the mind
http://www.classicbands.com/amboy.html
30K seems too high for me!
Are they crazy??
You are invited to open an Amboy Direct Money Market Maximizer account with our high everyday rate "guaranteed to beat the competition" currently...3.00%(3.05%APY) on balances greater than $30,000. Plus, to get you started, we will give you 4.00% interest rate for the first 3 months on balances between $30,000 to $100,000 raising your APY to 3.30%*. Bonus reference code 60501 required
So If I invest 100k do I get the 4% rate on 100k for the first 3 months? Or are they only paying you the 4% on the portion of the account over 30K , 60 k in my case ?
Anyone else get this
Primary Applicant Information Error
Sorry that promotional code is not valid. Please check your code again.
decades said:So If I invest 100k do I get the 4% rate on 100k for the first 3 months? Or are they only paying you the 4% on the portion of the account over 30K , 60 k in my case ? I e-mailed Amboy Direct for answers. Here's what they said:If you choose to invest $100,000 in the account, the entire amount will earn the 4.00% rate. You must maintain a balance of at least $30,000 in order to earn that rate on your money, but the entire amount, up to $100,000, is subject to the bonus.
I also confirmed that the intro rate is for 90 days, not 3 calendar months (so if you open an account today, the 4% rate is good until October 19th)
According to their fine print (available after giving them an email address),
NJ residents only. Only one Amboy Direct promotional account per household. Offer good until 06/30/05.
Looks like this info is wrong...
I wonder if they have any account closing fees . That way you could move it out after 3 months if they drop the rate too low .
just sent an e-mail to them asking
They also give $50 for new customer opening an e-saving account, you have to deposit at least $3000 for 3 month to get it, and the rate on e-saving is 3%; I was told you can not do both the %4 money market bonus and the $50 for the e-saving; To me e-saving account is the more efficient and easy way.
Thank you for contacting Amboy National Bank.
In response to your question, there are no actual closing fees. The only way you may accrue a fee would be if you wanted to get a cashier check or certified check for the closing amount. Those have a $7.00 fee.
okay , this one looks good to go
oops spoke to soon , now filling out the online application , I'm getting promotion code invalid , have to send them another e-mail now.
swangd said:They also give $50 for new customer opening an e-saving account, you have to deposit at least $3000 for 3 month to get it, and the rate on e-saving is 3%; I was told you can not do both the %4 money market bonus and the $50 for the e-saving; To me e-saving account is the more efficient and easy way.
from their website:
More Product Information
Opening your Amboy Direct eSavings Account
You must be a New Jersey resident, at least 18 years old and have a valid social security number.
No promo code is needed to receive that 4% bonus on the Maximizer account. You can just fill out the application and submit it without the code. That is our current rate
I'm in , looks like the same set up as with ED and ING , use your local checking account to move money in and out of Amboy Direct. FW is a great website to stay on the cutting edge of interest rate hikes . Hello Amboy and Lockheed , goodbye ED and Western Financial
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