Am considering Centennial Bank. Anyone have any experience with them . Since they are the new leader want to get some discussion going.

FDIC-insured. A small, one-branch bank with traditional passbook-based transactions and tiered interest rates. Their website is primitive, and no online access means the hassle of banking in person or by mail or wire, but you get the highest liquid rate in America on high balances for your trouble. They also offer CD's of varying maturities. Rates are subject to change at any time, which has been monthly.

mbaker4096 said:Leader in what?

No offense, but it's pointless to start off a thread without a link to either the object of discussion or at least a few bits of info to really start the discussion / generate interest.

edit: I'll rescind my neg if you edit your post and include more info.

No offense likewise, but how about cutting OP some slack?

Thanks for the info, Cheap...

Yeah, I was cranky this afternoon. Probably took as much effort to write the snide post as it would have to do a quick search and link the stuff in myself. I'm feeling more generous now.

It still irks me when people put no efforts in their posting and expect others to spend time responding to a completely vapid post.

Was seriously considering this bank for one more HY liquid option but after conversation w/ rep, am having second thoughts.
- No online capability
- No ACH capability ie. other external banks can't pull funds from it either
- If you're not near a branch, then the only option for withdrawals is check by mail or $25 outgoing wire fee plus whatever the receiving bank charges for incoming to it.
Limit to 4 withdrawals per month which is not a big deal. For those near a branch, this is probably a good deal but if not, then there are a few inconveniences to consider.

Why not just park your big money here, have a HSBC/ED account for ACH needs?

I assume you can ACH in/out from an external source... Even if you can't, you can close out and get a check/wire, right?

tylr said:other external banks can't pull funds from it either

Sorry, didn't see that.

I'm still thinking about dumping some money there that I don't need to see for a while. They have been good at keeping up with having good rates for a while now.

wasisdas said:yeah, but withdraw is a pain. Having to call them so the'd mail the check is lame... IMHO, lower rate, but ability to write checks is worth it.

They told me they would provide check the passbook saving account and I did a search for their routing number, it's 322271630. Anyone has an account with them, please try and see if you can push/pull funds using HSBC or CapitalOne. Please let us know.

The FDIC link is: http://www.fedwiredirectory.frb.org/details.cfm?aba=322271630

I sent them an e-mail asking about the 5.01% passbook account.

response:

I have attached our Disclosure for the Tiered Varible rate Passbook Savings accout. To make withdrawals on this account from out of State you would need to provide us a written authorization letter to make the withdrawal, by fax or mail.
If you have any further questions please contact us at 800-251-0705.
Thank you

but the attachment was for 1yr-4yr cd's

5.08% > 50k

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