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ianxxi
- Ancient Member
posted: Dec. 12, 2005 @ 9:17p 
Just a quick warning...
S.& P. Cuts G.M. Rating to Lowest in 52 Years
http://www.nytimes.com/2005/12/13/business/13auto.html
Scott Sprinzen, an automobile analyst for Standard & Poor's, said, it is "not far-fetched" that G.M. may ultimately be forced to seek bankruptcy protection to restructure its debt and its labor contracts.
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unknownshopper
- Senior Member<br>6K
posted: Dec. 12, 2005 @ 9:23p
dolmar said:I know the money is FDIC issured it still takes upto 6 months for FDIC to pay you if the bank fails. While you are waiting to get paid you do not accure any interest.
What absolute nonfactual nonsense.
I have had several experiences with having accounts at failed banks. It is one of the more lucrative *no* risk opportunities out there.
So long as you abide by the FDIC coverage guidelines, it is strictly a "heads you win, tails you don't lose" proposition.
But I'd much rather you were scared and pulled your accounts so that the target bank was more desparate for cash and more likely to offer CD rate teasers. To me.
Signed,
A long-term, hot money account vulture
edit:
p.s.
So long as an account is FDIC insured and a quarter point more, I could not possibly care any less about the quality of the investment portfolio. Whether it's in stale donuts or being actively embezzled and spent on bj, it does not impact the FDIC coverage. |
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Clocks
- Senior Member
posted: Dec. 12, 2005 @ 9:40p
bankrate still rates them as four stars ("sound"). |
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ss315
- Senior Member
posted: Dec. 15, 2005 @ 12:23p
I just opened up an account w/ GMAC after reading all of the positive feedback here--not worried about their financial health either. One quick question: I declined the Visa Check card (I don't like debit cards) but will they send me a standard ATM card instead? Will this ATM card also offer free fee reimbursal. If they will not send me an ATM card, I assume I can call back and request the check card? |
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dolmar
- Senior Member - 4K
posted: Dec. 15, 2005 @ 12:40p
ss315 said:I just opened up an account w/ GMAC after reading all of the positive feedback here--not worried about their financial health either. One quick question: I declined the Visa Check card (I don't like debit cards) but will they send me a standard ATM card instead? Will this ATM card also offer free fee reimbursal. If they will not send me an ATM card, I assume I can call back and request the check card?
I dont know why anyone would bother opening an account today with GMAC bank when HSBC online savings account pays 0.05% less has no balance requirement and it much stronger bank. Do you understand on $100K the differnce is $50 in 1 year? If you keep over $100K in your account and they do under you are only insured up to $100K per account or $200K per joint account. |
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murrr77
- Member
posted: Dec. 15, 2005 @ 12:40p
can anyone confirm if they do a hard or a soft credit pull? |
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ss315
- Senior Member
posted: Dec. 15, 2005 @ 5:04p
dolmar said:ss315 said:I just opened up an account w/ GMAC after reading all of the positive feedback here--not worried about their financial health either. One quick question: I declined the Visa Check card (I don't like debit cards) but will they send me a standard ATM card instead? Will this ATM card also offer free fee reimbursal. If they will not send me an ATM card, I assume I can call back and request the check card?
I dont know why anyone would bother opening an account today with GMAC bank when HSBC online savings account pays 0.05% less has no balance requirement and it much stronger bank. Do you understand on $100K the differnce is $50 in 1 year? If you keep over $100K in your account and they do under you are only insured up to $100K per account or $200K per joint account.
Does HSBC offer check writing, ATM reimbursal and an easy way to manage ACH in and out? |
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unknownshopper
- Senior Member<br>6K
posted: Dec. 15, 2005 @ 5:25p
dolmar said: If you keep over $100K in your account and they do under you are only insured up to $100K per account or $200K per joint account.
That's why the good lord made so many bankers. I can stick up to $100k in each of as many failing banks as I want.
But when I get to the point where I have more than $100k * the number of shaky banks, I will be concerned. |
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Clocks
- Senior Member
posted: Dec. 15, 2005 @ 5:59p
ss315 said:dolmar said:ss315 said:I just opened up an account w/ GMAC after reading all of the positive feedback here--not worried about their financial health either. One quick question: I declined the Visa Check card (I don't like debit cards) but will they send me a standard ATM card instead? Will this ATM card also offer free fee reimbursal. If they will not send me an ATM card, I assume I can call back and request the check card?
I dont know why anyone would bother opening an account today with GMAC bank when HSBC online savings account pays 0.05% less has no balance requirement and it much stronger bank. Do you understand on $100K the differnce is $50 in 1 year? If you keep over $100K in your account and they do under you are only insured up to $100K per account or $200K per joint account.
Does HSBC offer check writing, ATM reimbursal and an easy way to manage ACH in and out?
Exactly! Also, the balance requirement is only $500. If you can't manage that, you probably should just stick to a checking account. I like GMAC. |
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dolmar
- Senior Member - 4K
posted: Dec. 15, 2005 @ 6:02p
ss315 said:Does HSBC offer check writing, ATM reimbursal and an easy way to manage ACH in and out?
They off a free checking account you can link to online savings account with no min balance requirements either. They even give you first order of checks for free which is 200. They have free online bill pay and free integration into Quicken and Money. They dont rebate atms at all. They have super easy ACH in and out for free. The only pain with HSBC is the way they open there accounts takes for ever. Once the account is open everything works good.
They also have a $25 sign up bonus going on now.Fatwallet thread on sign up bonus for Online savings account
They have sign up bonus on there free checking account of $35 bucks too. Checking sign up bonus thread |
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Clocks
- Senior Member
posted: Dec. 15, 2005 @ 6:07p
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fw201
- Senior Member - 2K
posted: Dec. 16, 2005 @ 5:13p
Is this a decent alternative to Emigrant Direct ?
Do they have ING-like ach in & outs or just paper checks ?
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Clocks
- Senior Member
posted: Dec. 16, 2005 @ 10:47p
They have a very nice ACH function. You don't need to call or fax anything to setup the accounts. No test deposits to verify. It is all done online and very quick and easy. |
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mhesidence
- Cranky Member
posted: Dec. 16, 2005 @ 10:57p
But when I get to the point where I have more than $100k * the number of shaky banks, I will be concerned.
I wish that was my concern.
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jdopple
- Senior Member - 1K
posted: Dec. 16, 2005 @ 11:33p
unknownshopper
What's your opinion about the Credit Union coverage. |
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unknownshopper
- Senior Member<br>6K
posted: Dec. 19, 2005 @ 2:52a
Start a different thread. GMAC is not a credit union. |
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FaceOff
- Senior Member - 1K
posted: Dec. 28, 2005 @ 1:11p
Hi I am thinking of moving my money (25K) from ING to GMAC just for higher interest.
Anybody knows if there's any new account promotion from GMAC?
Thanks |
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brentpresley
- Ancient Member
posted: Dec. 28, 2005 @ 1:23p
FaceOff said:Hi I am thinking of moving my money (25K) from ING to GMAC just for higher interest.
Anybody knows if there's any new account promotion from GMAC?
Thanks
No current promos, but the 0.55% should be enough of a reason to jump from the ING ship.  |
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FaceOff
- Senior Member - 1K
posted: Dec. 28, 2005 @ 1:29p
brentpresley said:FaceOff said:Hi I am thinking of moving my money (25K) from ING to GMAC just for higher interest.
Anybody knows if there's any new account promotion from GMAC?
Thanks
No current promos, but the 0.55% should be enough of a reason to jump from the ING ship.
Thanks |
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mhesidence
- Cranky Member
posted: Dec. 28, 2005 @ 1:32p
Clocks said:They have a very nice ACH function. You don't need to call or fax anything to setup the accounts. No test deposits to verify. It is all done online and very quick and easy.
HSBC takes 3-4 business days for ACH to go thru, a bit slow since they take the money next business day but you don't earn any intrest for another couple of days.
How fast is the ACH with GMAC? Is there a limit to the linked accounts? HSBC doesn't seem to have a limit.
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