SUCKISSTAPLES said:I dont understand why all the hype???

there are DOZENS of these "reward checking" accounts out now that pay 6% and have ATM refunds, require checkcard usage, etc. It seems they all got the memo from some banking consultant to start offering this.

The bankdeals blog and credituniondeals.com mention several places offering this same basic product.There may be tons of these bank deals but they invariably require you to go to a branch in some other state to open them. Or they are not available to out of staters period. Believe me, I've tried and gotten many a letter apologizing for the inconvenience. This one does not have the restriction.

remmymom said:3.5 stars from bauer. would anyone put mroe than the insured amount in this?Make it a POD account and name your mom, dad, brother or sister, or children and grandchildren and you get $100k in insurance for each living beneficiary. That should cover most of us!

"Make it a POD account and name your mom, dad, brother or sister, or children and grandchildren and you get $100k in insurance for each living beneficiary. That should cover most of us! "
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not me unless i can do it for pets

remmymom said:"Make it a POD account and name your mom, dad, brother or sister, or children and grandchildren and you get $100k in insurance for each living beneficiary. That should cover most of us! "
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not me unless i can do it for pets Unfortunately, pets do not count. Only your spouse, child, grandchild, parent or sibling. (In-laws, cousins, nieces and nephews do not count). But even if its just you, $100k is a nice chunk of change to earn 6.01% on in a checking account!

craig10x said:I see from the demo that they use Fundsxpress for their online banking interface....my bank uses the same interface, which recently was re-designed and is a terrific one (i like it even better the boa's which up to then was my favorite online banking)....Fundsxpress usually includes external bank transfer capabilities (it does with my bank), so it may well have it...you should call or e-mail them and check about that.

Fundsxpress is also in "real time" similiar to BOA, and is usually linked to the superior "checkfree" bill pay...

PS: that is a point i always wonder about all these "Rewards Checking" type products...since most of the banks that offer them
have mostly very low rates on all their other products, it does kind of make you wonder how long they will maintain the super high rate of 6%.....

Otherwise seems like a very good deal...especially with the fundsxpress interface....other then the ol' pain in the neck 10 debit card transaction requirement....I bank primarily with first internet bank of indiana and have done so for years and years. They use the same bill-pay interface, but only relatively recently let you link external accounts and do so only with restrictions (i.e., 25k monthly limits and $5.00 fee for outgoing transfers. In reading Toledo's terms and conditions it only refers to accounts at their institution and makes no refernce to external links, but its no big deal. I am happy to initiate pulls from outside or to write a check if need be.

DaveHanson said:DavidScubadiver said:I bank primarily with first internet bank of indiana...but only relatively recently let you link external accounts and do so only with restrictions (i.e., 25k monthly limits and $5.00 fee for outgoing transfers.It isn't recent, they've done it for several years (I've used mine for 5 years), and you can get the monthly and limits massively increased by calling and asking.

The $5 out is a bummer, and its interest rates are mediocre, but other that that it's tough to beat.Tough to beat unless this Bank of Toledo pans out! Good to know FIB's monthly limits can be adjusted. Should have thought to ask myself!

LH2004 said:Plus, free use of their community room!

Sweet: 10 tables and 64 chairs provided.

Alas: "There is no alcohol or wall hangings"

dolmar said:craig10x said:Fundsxpress is also in "real time" similiar to BOA, and is usually linked to the superior "checkfree" bill pay....

Wow more made up facts you post. Fundsxpress offers a full turn key online banking solution to banks which includes the following from then own web page "Bill Payment and Presentment". Here is a pic of there interface which also includes E-Bills like BOA. As a matter of fact E-Bills is offered by both Checkfree and Metavante the 2 largest online bill payment processors around so just because 1 site offers E-Bills does not mean it using checkfree back end.


Just like Checkfree and Metavante they offer both "good funds" model or a "float model" as there bill payment options to banks. The only way to tell if a bank uses Checkfree over another processor for sure is if they have "Powered By Checkfree Logo" on there web page or are listed on Checkfree Master list of clients found here.

Just for your information Bank of Toledo is not listed on Checkfree list of partners but tons of small banks are listed. So it is not a mistakeI suppose that is helpful information. However, bill pay is not really a significant feature on a checking account paying 6.01%. Its an added perk, but not really necessary IMHO. Especially since they require one to schedule a payment 4 business days in advance, I would not do that with any cc bill in any event, as they let one schedule payments from a linked account on the day the payment is due. The real question is, will they actually process account applications from out-of-towners, or will they send a letter apologizing for the inconvenience and advise at that time that the account is only open to locals.

Still can't figure out why a bank would want to discriminate on the basis of geography. Money is money, is it not?

dolmar, you better stop calling me a lier, or you will be reported to the moderators....i hope you admirers of dolmar are realizing what a vicious and egotistical person he is....and will take his comments with a rather large grain of salt....

I tried to provide some helpful information..i didn't say i knew for a fact that this particular bank uses checkfree...but i do know that fundsxpress is a real time interface, and that often, banks that use their interface are also connected with checkfree bill pay....i did suggest people interested in the account, and want to use those features, should check with the bank to find out for sure....

If should be apparent to the subscribers of this thread -- it is being very actively watched. Some of the posts were actually on topic. Much like this one. The readers should know they're being watched, and any attempt to voice their opinion will be suppressed.