countrywide savings account 5%, 10K minimum

MajorCurt said: So where are you going from here, if you aren't staying with CWB?
As long as I have next-day transfers, and they do not lag the rate leaders too much, I am staying around.

ThursdaysChild said: Has anyone successfully deleted 1 of your 5 linked external accounts and replaced it with another?

(searched this topic for "transfer" and "external" but did not find this discussed)

Yes I did. No issues.

ThursdaysChild said: Thanx, DjPiLL. Anyone else?Half a dozen times at least. Why would you anticipate it being a problem? It says you must delete one to add one... its not a trick.

Hmmm... 3.55% is still better than the 2.5 % or whatever I'm getting for the Vanguard Money Market fund.

I hope BOFA doesn't start dropping the rate as soon as I move my money to Countrywide!

I guess it depends on which features are more important. I prefer a faster ACH transfer and rarely have more than 1 or 2 transfers. FNBO left a very bad taste in my mouth after last summer's fiasco with accounts supposedly being locked.

Did BofA have something similar to this SavingsLink product prior to purchasing Countrywide? I'm just wondering what we can expect in terms of a merger of financial products. What I'd like to see is an automatic issuance of Debit card and Check writing capabilities for SavingsLink customers.

Then again, I don't know whether I want to make Bank of America my principal bank! Is BofA, historically, a high rate-payor? I don't think it is. SavingsLink's speedy ACH system is the big draw for me. But without a continuing offer of a high-interest-rate deposit account, BofA may find their new Savingslink customers fly the coop - in the near term.

Does Saving Link allow an external debit/pull initiated from other bank? I opened a WAMU CD by funding it with my Saving Link, but I got a msg today from WAMU stating my funding has a problem. Thanks for your reply.

log in -> services & info -> self-service center

That has general directions on direct deposit. To get your account number, look at an online statement PDF.

Do we have access to the Bank of America My Portfolio account aggregator?

propcgamer said: Seems like they dropped the rates to:
3.40% for 10k-50k
3.50% for 50k-100k

figures, well at least im almost back up to that tier. i was pissed off when i logged in and saw 3.4 after it just dropped to 3.5

Syphon said: I found the answer sorry. It is:
rishi75 said:

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Outgoing Wire Transfers $15.00

It appears that Country wide has a fee for outgoing wire transfers. Does this fee only apply when the transfer is initiated from Countrywide website or would it also apply when I pull the money out of countrywide through another webiste like Fidelity or EmigrantDirect.

Thanks.

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Wire transfers are not the same as ACH transfers. ACH transfers are free. Pulling or pushing is free

 

I see the average hold is 10 days. Do you earn interest on when your money is on hold?I attempted a wire of 96,000 to eBank for a 5% 9 month CD (I didn't want to exceed the FDIC limit).

Countrywide called and I was told that to wire from a savinglink account to another institution, you must wire a minimum of $105,000 (not less). The only exception to this rule is if you are wiring to a trust or title company. They said this rule is in place because you can transfer money online for no fee in any dollar amount (i.e., less than $105,000).

I advised that the destination eBank account does not have an official account number yet and will not be able to receive a standard online ACH. After a hold to consult with a manager, they made a one time exception to the $105,000 rule.

I am trying to link a brokerage acct (scottrade, zecco, etc) to countrywide via the online broker. I plan to do an ach pull from them.

For some reason Countrywide isn't receiving the trial deposit. I guess I need to send my money elsewhere first?

Anyone else have luck

With this SavingsLink account, is one prohibited from doing transactions at a Countrywide bricks-and-mortar office? We all have access to the internet at this moment. But, what if...?

Countrywide Savings Link down
less that 10k 2.00% $10k-$49999 3.15% $50k+ 3.25%

I am moving my money to dollarsavingsdirect from countrywide. What happends if I pull my 10K into my checking tonight/morning and then tell dollarsavingdirect to pull the 10k tomorrow and the funds are not available yet from my bank. What happends to the transaction does it get cancel or my bank will charge me an Insufficent funds fee.

Another rate drop for the SavingsLink account:

Less than 10k - 1.75%
$10k-$49,999 - 2.90%
$50k+ - 3.00%

Just moved all my money from Countrywide to Dollar Savings Direct.

Can anyone confirm the minimum amount necessary to keep in the savingslink account to avoid fees? I know earlier in this thread someone wrote it was $1 (I'm referring to once the account is already open), but customer service just told me $1000.

I'd like to keep the account open for the Visa card which earns 2% if I deposit the rewards into my savingslink account, but would not like to keep $1000 there at 1.75%.

Thanks.

dlr3 said: Rel said: Can anyone confirm the minimum amount necessary to keep in the savingslink account to avoid fees?Savingslink has no fees for minimum balance - minimum is only required to open the account. $0.01 will keep the account open.

Thanks - just pulled all out but a penny.

Nope they dont, theres a ton of cash in the big banks and Countrywide is owned by BOA. I closed my account. Made a good % for many months when they were near bankruptcy though.