crash22 said:A heads up on linked accounts, all you can add is 1 now.

Here's the message I get when I log into my SavingsLink account now:

"Effective immediately the number of external accounts that may be linked to your SavingsLink account will be reduced to one (1). If you currently have more than one account linked to your SavingsLink account these will remain active, but you will be unable to add further accounts."

Them bastards! My dad opened a Savings account with them two weeks ago and he got that message. As his account is new, he could only have one linked account. GRRRRR! I'm going to get him to close this account when the 90 days are up. I don't like what they're doing.

Just logged onto my savingslink account this morning and saw that Countrywide now disabled internal transfers.

So I can't transfer between my Countrywide Savingslink and Countrywide MMA to write checks.

I linked 2 checking accounts to my Savingslink before they limited it to one, so that's what's keeping me as a customer for now.

Most banks do not do a hard pull, But Countrywide will. I would suggest E-Loan at 5.38%. Very easy to set up, simple to use and no pull.
E-Loan

Can the Countrywide Savings Account be used as a target for ACH transfers? That is, can you specify the Countrywide account for ACH transfers initiated at some other bank?

youneedvtec said:

Only if they don't do hard pulls, I'd sign up RIGHT THIS INSTANT. Their regular daily rates are some of the highest I've seen but why do they have to do hard pulls? Are they going to try to push pre-approved mortgages or something later on?

Anyway, off topic question but simple question: Hard inquiries stay on your credit report indefinitely, right? And how long do you have to wait for the hard inquiry to give you back the lost FICO points? Thanks a bunch. I tried a search and couldn't find the answer on the first page.
They stay on for a bit over 2 years but after about 6 months they are no longer affecting your score. other than the pull it is a great account. I have a CD with them and got the pull, then last month I did the savingslink and got a second pull. The good thing is they use Equifax so I have already made both inquiries disappear. You should not let the pull keep you from opening

bluechalk said:Can the Countrywide Savings Account be used as a target for ACH transfers? That is, can you specify the Countrywide account for ACH transfers initiated at some other bank?
This does work, but you need to specify that your SavingsLink account is a "Money Market Checking" or "Checking" account at the other institution. If you give the obvious answer of Savings it will likely fail. The routing number is 056009110. The bank account number is the 10 digit number that you got when you signed up.

Another couple of thoughts...

Would you feel safe trusting a lot of your money to a company whose website is running Win2K/IIS 5?

And here's another juicy bit (my question to them regarding their credit pull practice and their reply):

Dear Valued Customer,

Thank you for banking with Countrywide Bank. In response to your inquiry, we have the legal right to the credit inquiry as per the disclosure during the application process. This information cannot be removed.

If you have any other questions, please send us a message or contact one of our Customer Care Representatives at (877) 292-2655 Monday through Friday between the hours of 7am-7pm. Thank you again for banking with Countrywide Bank.

We appreciate your business
Customer Care Team

Compare our great Money Market and Savings Rates today and watch your money grow! We can also save you money with our New Introduction of Countrywide's Visa with a 1% CashBack, 0% APR on all transactions for the first year, and no annual fee.


From: *********
Subject: Credit inquiry

Hello,

I have recently opened this account, yet being unaware of the common practice for banks to do a "hard pull" on the prospective client's credit report, did not ask about this at the time. Was a full copy of my credit report obtained by you, and if so -- would you mind contacting the reporting agency for removal of this inquiry from my permanent credit record?

The reason why I am requesting this is because every such "hard" inquiry invariably decreases my credit score, potentially affecting my ability to qualify for low interest credit in the future. I understand that by law I can request that this be done in such cases when no credit line or loan approval was needed by the financial institution, and this certainly appears to be the case here.

Regards,
*********

76hhma said:Hard-pull may not be the most important issue for Countrywide at this time. Not sure about the impacts of subprime loans on Countryside yet. Even with FDIC protection, I choose not to be involved with this bank at this juncture. Just me

I can certainly understand that decision, but Countrywide is pretty big. I don't think they'll be hobbled by the subprime fallout. Here's an acticle that discusses their exposure:

http://money.cnn.com/2007/03/12/news/companies/bc.countrywide.mortgages2.reut/index.htm?postversion=2007031211

Subprime is 0.2% of assets. Of course some analyts argue this will expand outside subprime, but I've decided to stick with them. Just me

fotomaniak said:Does 10 day hold apply to externally initiated ACH transfers?

I believe so. I have no way of verifying at the moment anyway (nor do I care to do so either - taking my business elsewhere), but if you have a spare minute, give them a call to find out.

Not sure why so many complaining about Countrywide, Other than the hard pull I rate this a great account. First 5.40% beats just's about everything, Can't beat the one day transfers out and they have great CSR's. I don't even remember what kind of hold was on my money when I put it in all I do know is it paid interest right away. Most use these accounts as a place to park money so what's the big deal of the hold? So you are losing .27% for no good reason