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barrytuneup said:   I used a bank transfer from EverBank with no problem. Opened acct with 50.00, then xferred 20500 via EverBank. (To cover all the debits I will be doing plus the 1 small BP each month). The 5% interest adds up fast. have to figure where to put it now that only 5% is paid on 20K.
  
How are you fulfilling the debit card requirements?

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I am using it at grocery self checkouts.. (4 swipes is all you can do at one store before the card locks you out). I buy bumble bee tuna for .99 and then another 2 cans for 1.98, then another 1 can for .99 etc. I also use it at Dunkin Donuts for 1.75 cups of coffee. And I do it the first day of the cycle and over 3-4 days and I do 14 even though 12 or 13 is required! And I don't do the dumb Amazon GC thing.. .50 Amazon gc.. that stuff will ruin it.

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Redneck bank inactivity fee reminder:

I opened this account long time ago but lately had not been using it since the rate was ~1%. Recently found out that they had closed my account and the balance was eaten up by dormant account fee ($10/month). Lost ~$30.

Their agreement (current version online) does not spell out what "extended period of time" (of no activity) is. They claim to have sent me an email but am sure I didnt receive it --- the agreement talks about "we have been unable to contact you".

I did dig up this old FWF thread talking about this (too late for me now). Just wanted to bring this to the attention of anyone with a Redneck bank account.

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fwuser12 said:   Redneck bank inactivity fee reminder:

I opened this account long time ago but lately had not been using it since the rate was ~1%. Recently found out that they had closed my account and the balance was eaten up by dormant account fee ($10/month). Lost ~$30.

Their agreement (current version online ) does not spell out what "extended period of time" (of no activity) is. They claim to have sent me an email but am sure I didnt receive it --- the agreement talks about "we have been unable to contact you".

I did dig up this old FWF thread talking about this (too late for me now). Just wanted to bring this to the attention of anyone with a Redneck bank account.

  I just set-up automated monthly deposits from Alliant to all my accounts after being bitten by this a few times at different banks.  I don't have a scheduled pull back out but you could do that too and just have automated activity with 0 net effect on the balance

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psm321 said:     I just set-up automated monthly deposits from Alliant to all my accounts after being bitten by this a few times at different banks.  I don't have a scheduled pull back out but you could do that too and just have automated activity with 0 net effect on the balance
 

  I tried to do it manually and non-systematically. Every few months try to transfer-in (or out) money via Alliant to keep the account active.
For the most part, it seemed to be working, although I have closed many accounts over the last year or two. But the Redneck bank got to me.

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washerdreyer said:   Really annoyed about the INOVA rate cut, strongly considering emptying out accounts there, and extra annoyed I only realized it when the April interest posted.
  I am out  , 5 X51 = 255 and we used to get 50$ every month .. now it is going to be 30$ .. for the same 255 $ .. not worth it .
for folks who closed accounts.. was it straight forward ..

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just received word that Visionbanktexas is being is going to be taken over by some other bank ... so there goes the max checking account 

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exclusivelysid said:   
barrytuneup said:   I used a bank transfer from EverBank with no problem. Opened acct with 50.00, then xferred 20500 via EverBank. (To cover all the debits I will be doing plus the 1 small BP each month). The 5% interest adds up fast. have to figure where to put it now that only 5% is paid on 20K.
  
How are you fulfilling the debit card requirements?

  Please read the fine prnt.  EverBank is not a 5% interest account.  It is a top 5% yeild account.  So it will always be in the top 5% of competing checking accounts.  Right now, it is .93% (see the red box on this page:
https://www.everbank.com/banking/checking
This and the 1500 to start the account makes it not look too hot to me compared to Great Lakes FCU.

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Chuck101 said:   
exclusivelysid said:   
barrytuneup said:   I used a bank transfer from EverBank with no problem. Opened acct with 50.00, then xferred 20500 via EverBank. (To cover all the debits I will be doing plus the 1 small BP each month). The 5% interest adds up fast. have to figure where to put it now that only 5% is paid on 20K.
  
How are you fulfilling the debit card requirements?

  Please read the fine prnt.  EverBank is not a 5% interest account.  It is a top 5% yeild account.  So it will always be in the top 5% of competing checking accounts.  Right now, it is .93% (see the red box on this page:
https://www.everbank.com/banking/checking 
This and the 1500 to start the account makes it not look too hot to me compared to Great Lakes FCU.

  The 5% interest referenced was for Consumers Credit Union.

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yes CCUnion, I concur! (5%)

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fwuser12 said:   
psm321 said:     I just set-up automated monthly deposits from Alliant to all my accounts after being bitten by this a few times at different banks.  I don't have a scheduled pull back out but you could do that too and just have automated activity with 0 net effect on the balance
  I tried to do it manually and non-systematically. Every few months try to transfer-in (or out) money via Alliant to keep the account active.
For the most part, it seemed to be working, although I have closed many accounts over the last year or two. But the Redneck bank got to me.

  Are you saying that your transfers did not work to keep the account active, or you forgot to do the transfer?

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MrNovember said:   
fwuser12 said:   
psm321 said:     I just set-up automated monthly deposits from Alliant to all my accounts after being bitten by this a few times at different banks.  I don't have a scheduled pull back out but you could do that too and just have automated activity with 0 net effect on the balance
  I tried to do it manually and non-systematically. Every few months try to transfer-in (or out) money via Alliant to keep the account active.
For the most part, it seemed to be working, although I have closed many accounts over the last year or two. But the Redneck bank got to me.

  Are you saying that your transfers did not work to keep the account active, or you forgot to do the transfer?

  I used to do a transfer every few months but recently hadn't done a transfer for at least a year.
I thought I would at least get a letter in the mail when (or before) an account goes dormant.

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Santanderbank money market 0.9% with 10 k balance and checking account.
*0.90% annual percentage yield (APY) is available when the balance in your Santander Money Market Savings account or Business Money Market Savings account is $10,000 to $4,999,999; and 0.30% APY is applied when your balance is less than $10,000 or $5,000,000 or more. These APYs are effective as of today, are available for new accounts only, and are subject to change at any time and after the account is opened. Fees may reduce earnings. A Santander checking account is required. These rates are available only for new accounts with a minimum deposit of $10,000 in new funds from another financial institution within the first month of account opening. Minimum opening deposit of $10 required. Business Money Market Savings account is only available for business entities with gross revenues of $3 million or less per year.

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Decided to go with CCU as my daily driver - let me know if you have an account for the fifty bucks - shoot me a message!

Thanks for the info in the thread. 

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PM sent.

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Inova just made things worse: 2% rewards checking account rate now goes to "a competitive, market driven dividend" plus "exclusive premium rate" on select CDs available only to checking account customers.  

No more 5 signature based debits over $50 required per month.

Fee for PIN based transactions eliminated.

Minimum balance required to earn dividends on checking increased to $2,500.

Monthly fee of $7.50 unless: $2,500 min balance or $5,000 aggregate balance or 10 debit or credit transactions -- seems like either debit card or credit card works. Fee starts with cycle ending on July 31.

They cite changes Congress made which made it so that can't reliably determine if a transaction was PIN or not.  

Unless the CDs have monstrous rates, it's good-bye Inova for me.  

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I have 6 Rewards checking accounts, and I make all 60 Transactions online (To My Cable co., and sometimes to My cell phone co.) Anyone else do it this way?

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I couldn't manage that!! I do have a free Nationwide CA that requires 8 debits per month. I do 4 for 1.00 (self checkout)at grocery the day the statement closes (nationwide will cancel anything over 4 charges in same store same day). Then I use it the next day for the same things. Done for the month with a another charge at Dunkin Donuts just to be safe. 60? no can do! I value the CA more then the measly interest. I actually use this account.

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huge changes to INOVA just came out, notice is very ambiguous but seems like they are getting rid of the 2% checking and making it where you can buy "premium" CD's, not clear if you still need to keep doing 5 transactions >$50

No rates on the CD's mentioned, but they do say there is no cap

https://www.inovafcu.org/ovation-checking-account-change-in-term...

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So I have to close my GE Interest plus account at the end of the month and I was thinking of finding some checking/savings accounts that give bonuses like chase's $200 one as I have a little over 40k in it and thought rather than due Duke's notes, I could get a better return with all the bonus cash banks are offering these days, has anyone done this, bad idea?

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debentureboy said:   Inova just made things worse: 2% rewards checking account rate now goes to "a competitive, market driven dividend" plus "exclusive premium rate" on select CDs available only to checking account customers.  

No more 5 signature based debits over $50 required per month.

Fee for PIN based transactions eliminated.

Minimum balance required to earn dividends on checking increased to $2,500.

Monthly fee of $7.50 unless: $2,500 min balance or $5,000 aggregate balance or 10 debit or credit transactions -- seems like either debit card or credit card works. Fee starts with cycle ending on July 31.

They cite changes Congress made which made it so that can't reliably determine if a transaction was PIN or not.  

Unless the CDs have monstrous rates, it's good-bye Inova for me.  

  I just called Inova to see if they knew what the premium rate for regular accounts will be and they didn't know.  Not sure that I want to tie up my money in a certificate right now so it's quite possible that I will be moving my money as well.

rated:
Chuck101 said:   
exclusivelysid said:   
barrytuneup said:   I used a bank transfer from EverBank with no problem. Opened acct with 50.00, then xferred 20500 via EverBank. (To cover all the debits I will be doing plus the 1 small BP each month). The 5% interest adds up fast. have to figure where to put it now that only 5% is paid on 20K.
  
How are you fulfilling the debit card requirements?

  Please read the fine prnt.  EverBank is not a 5% interest account.  It is a top 5% yeild account.  So it will always be in the top 5% of competing checking accounts.  Right now, it is .93% (see the red box on this page:
https://www.everbank.com/banking/checking
This and the 1500 to start the account makes it not look too hot to me compared to Great Lakes FCU.

  Absolutely true. I only had Everbank until the promo ran out then moved everything out. They really weren't the best (out of the mythical 5% of competing accounts).
 

rated:
cdancer20 said:   
debentureboy said:   Inova just made things worse: 2% rewards checking account rate now goes to "a competitive, market driven dividend" plus "exclusive premium rate" on select CDs available only to checking account customers.  

No more 5 signature based debits over $50 required per month.

Fee for PIN based transactions eliminated.

Minimum balance required to earn dividends on checking increased to $2,500.

Monthly fee of $7.50 unless: $2,500 min balance or $5,000 aggregate balance or 10 debit or credit transactions -- seems like either debit card or credit card works. Fee starts with cycle ending on July 31.

They cite changes Congress made which made it so that can't reliably determine if a transaction was PIN or not.  

Unless the CDs have monstrous rates, it's good-bye Inova for me.  

  I just called Inova to see if they knew what the premium rate for regular accounts will be and they didn't know.  Not sure that I want to tie up my money in a certificate right now so it's quite possible that I will be moving my money as well.

  I just checked Inova's rates this morning.  They dropped to 0.07% for Ovation Checking.  Yep.  Guess I will be moving my money elsewhere.  Going to pull it out within the next few days.

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capital one is moving everyone off their premier rewards checking. Anyone know of another account that does this type of rewards. premier rewards checking you got "miles" based on debit (ran as credit) transactions?

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