Smoking Hot BOA now has MMA which pays as high as 4.30%

I guess BOA just got finally competitive for a change starting on 9-22-06 all old MNBA money markerts account got converted over to Cash Maximizer Savings accounts which can be linked to BOA checking account for instant transfers like Citibank(checking - E-savings), HSBC(checking and Online savings account) and WAMU (Free checking - 5% online savigns).

So for example the AAA Cash Maximizer® Savings now pays the following rates:

Balance index Rate APY

$0-$2,500 MFR - .25 4.48 4.58
$2,500 - $9,999 MFR 4.73 4.84
$10,000 - $49,999 MFR + .25 4.98 5.11
$50,000 and over MFR + .50 5.23 5.37

With these new changes BOA just became the new rate leader on checking/savings account combo with local branch access. BOA has by far the best web page, best bill pay and most branches national of any bank. So for all people complaining BOA is a rip off they now pay more than most online savings accounts with $50K+ balance even more than AMTrust Direct while maintain 100% local access to your funds and no need to ACH funds in and out of your local bank.

BOA now pays more than Citibank, HSBC and WAMU if you maintain over $10K and more than most online places if you maintain over $50K. I see no reason not to park funds with BOA now considering these new rates and new access to your funds.

Link to open AAA Money Market account

If you notice on the app page it lets you link it right away now. Btw I called up and linked my AAA account to my BOA MRA checking account and it showed up on there web page right away.

Humm, anyone apply?

I applied, got all the way to the end after I checked I agree and hit the final apply button, and got an error page.

dolmar said: I did not apply sorry. I already had the account. I added the link afterwards to open the new MMA. So not sure to be honest.

I called 1.800.622.8731 and they linked the account to my ATM. And then on Bankofamerica.com it shows up as Cash Maximizer Savings right away. I was able to transfer $3K from my MRA into it right away. The transfer was instant.
When I call the number on the app page, 1.800.526.7120, it says they are closed until monday because of the merger.

I'll try applying again with IE I guess. If I get two accounts, oh well.

Bank of America (California's) online page lists a pitiful .5% APY on their Cash Maximizer.

Wonder if I'm seeing an out of date page, or if the cool MMA is only available in some states?

On this high-yield MMA, what's the minimum balance?

markkundinger said: Bank of America (California's) online page lists a pitiful .5% APY on their Cash Maximizer.

Wonder if I'm seeing an out of date page, or if the cool MMA is only available in some states?

On this high-yield MMA, what's the minimum balance?

Humm, only the AAA link gives these great rates, all the other old MBNA links give the same rates as this:
http://www.bankofamerica.com/deposits/checksave/index.cfm?template=save_moneymarket

(Here's a list of other links: http://bankdeals.blogspot.com/2006/06/504-money-market-account-at-mbna-15k.html)

i just walked into a boa branch and asked about this

the manager said that this is definitely offered as an affiliate program, can be linked to all your other boa accounts online, but because of the merger the call center and application center are down until monday

looks awesome though, been waiting for boa to get with the program

This is a good deal for those with large deposits. However, if you has smaller balances - you'd be much better off with WAMU or Citibank (5%, regardless of balance).

BOA has a good website, but it's a pain to maintain the passwords, etc. They have a superior billpay in comparison to WAMU and Citibank. However, you can just set up an account with mycheckfree.com and have an equivalent for free.

dolmar said:

So for people with $10K + in online savings account this just became the best deal around. instant access to your funds, no need to ACH funds in and out of your local bank and loose 2-3 days interest each way. And a very large ATM network nationwide to withdraw cash from for free.
Thanks for this info, I tried that link and also got to the end before it had an error. Was easy to fill out since I have an account with BOA and once I put in my sign on info all my info came up. I then went to the BOA site to check and had an online chat with a rep, Was useless. I will wait till Monday and try that link again


Dominique : Hello and thank you for accepting the chat, I am here to open new personal accounts. Is that something you are interested in? If you have a Customer Service question I will be more than happy to get the correct phone number for you.
You: I heard you now have an account called Cash Maximizer Savings accounts
Dominique : Yes would you like to see details on that account ?
You: yes please
Dominique : Please click for details
You: I don't see that account
Dominique : That account is only for California
Dominique : We have the Money Market account for state
You: What is the best rate offered for $100,000+
Dominique : Do you see details of that account on the site ?
You: I heard there is an account being brought over from MBNA that is 5.37%
Dominique : That would be a CD
Dominique : We have a High Yield CD
You: Thank you but I am looking for Money Market, I will check with a branch next week
Dominique : I will give you details on that account
You: ok
Dominique : Please Click

dolmar said: Scott you have open the account via AAA link to get this rate. This rate only applies if you have a AAA card also.
I was wondering about that. I am not a member but I got all the way thru the application and it never asked for a # or if I was a member. Could not even find anywhere stating you had to be one

I just went thru the entir online app process and on the last page it gave me a page not found error when it was supposed to give me a confirmation number

anyone had a similar problem ?

dolmar said:

Either way AAA card is $35 bucks a year. And AAA always has promo for like $20 for first year membership.

Even if you dont need or want the AAA card if this rates stay in effect for 1 year the extra interest paid over most other account would more than make up for the cost of the card.

If you car broke down 1X the free towning service would more than pay for your membership fee anyways.
I would join if I could get this account. Have been looking for a way to get a decent rate at BOA since they took over my Fleet account. I keep that account open with the $2,500 min to avoid fees because they have a convenient ATM at my daughters College. Also do like the Yodell version they use

TYTBUDGET said: You can't be serious. BofA has the most insufferable series of password gates I have ever had to endure.

The two step requirement is a federal requirement that all banks will be moving to by the end of the year. BofA doesn't have strict password requirements on the second stage, so you can use an ATM pin or some other easy to remember number or phrase. Don't see the big deal really... the site remembers your logon ID, so the only thing you have to enter is one normal password and one pin. Even easier with Roboform.

Agreed I would consolidate everything to BoA from the looks of this.

Buggy site. I chose GA as my state of residence and was given an offer from AAA Connecticut.

bozo007 said: Buggy site. I chose GA as my state of residence and was given an offer from AAA Connecticut.
Same here in AZ. Thats why i mentioned that we prolly need to wait until monday.

Got to do better. Waum came out with a special two weks back for 5.80 APY for 13 months

APPLICATION DECISION NOTIFICATION


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p.s JUST RECEIVED THIS AFTER I WENT THROUGH THE AAA MMA LINK AND RECIEVED THE ERROR PAGE.

Grifman said: TYTBUDGET said: dolmar said: BOA has by far the best web page (snip)
You can't be serious. BofA has the most insufferable series of password gates I have ever had to endure. The irony is that by now they have so many security codes that I have to have them written down! Explain to me how that makes me safer, when it has precisely the opposite effect? The Citibank website eats BofA for lunch -- and Everbank's eats them both lol.

Tytie

What the heck are you talking about. They've got the normal id/password, then one more password when the image pops up so you can verify you're at a BoA site. Surely you don't find that difficult?
I guess he's refering to the initial verification questions. However, you only have to answer these once and then you are cookied for good. You never have to enter them again, and you don't even have to enter your userid since it saves it.

Wondering what'd happen to poor emigrant if they don't increase their rates.

geo123 is absolutely correct, so don't be exceeding your 6 transfers max limit each month on a regular basis, or you will soon find yourself out of the NEA Savings Account....just because BOA is nice about not charging you the fee doesn't mean they can also ignore the federal rule...they can't! A few more of those and your account will get automatically converted.....