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glxpass said:   RiversideTom said:   First Bank & Trust down to 1.01% and I withdrew my cash and closed my accounts there and with that I now have no more RCA accounts left.

It was good while it lasted.

I'm keeping small balances in a number of RCAs and not bothering to meet the requirements. You never know, in a few years those RCA rates might just shoot back up! Most of those I'm keeping are not nationally available.

Be careful - a lot of rewards accounts state that if you do not meet the requirements for X months in a row they'll convert it to a traditional account.

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barrytuneup said:   these accts are not worth it anymore! I have 50K in Farmers and merchants.biz in Va and the rate dropped to 1.69%. After I use the credit card 10 or 11 times at an average of 2-4.00 each and pay a small part of a cc bill, I am falling behind each month. I am going to deposit the funds in EverBank for a guarr 1.25% for 6 months and see what happens. At least Ill be ahead 1.25% each month. RCA's are no way to save anymore. Thoughts?
I can't figure out how you could be falling behind earning 1.69% but be ahead earning 1.25%? Unless you are literally throwing away the money you are spending with the 11 monthly transactions.

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lorymills1 said:   musicdef13 said:   There are some to be had... regionally. There's one that I've been looking to open the next time I visit my dad in Texas that pays 4% on $25k. (They'll only open the account if you go in person.) Maybe you're in Texas and can open up two accts to cover the 50K?


looks like you can apply online and I didn't see any regional restrictions

Thank you for your interest in Coppermark.

We understand your time is valuable and we hope that this “Jumpstart” application will expedite your account opening process.

By completing this Jumpstart application, you will be providing us the information we need to begin your request. For most accounts and services, submission of this “Jumpstart” application will not replace the need for you to personally visit one of our banking locations to complete the process. This process will likely include:

Obtaining any additional information needed
Obtaining your signature on necessary account agreements
Identity verification: To assist the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: when you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may ask to see your driver’s license or other identifying documents.
Receipt of appropriate regulatory disclosures and account agreements.


Yup, I've tried applying online. Then I got a call that said I would have to go to a B&M to sign some papers. Applying online just speeds up the process. You still have to go there to actually get it open. Hence, the wait until the next time I visit Texas.

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Glitch99 said:   barrytuneup said:   these accts are not worth it anymore! I have 50K in Farmers and merchants.biz in Va and the rate dropped to 1.69%. After I use the credit card 10 or 11 times at an average of 2-4.00 each and pay a small part of a cc bill, I am falling behind each month. I am going to deposit the funds in EverBank for a guarr 1.25% for 6 months and see what happens. At least Ill be ahead 1.25% each month. RCA's are no way to save anymore. Thoughts?
I can't figure out how you could be falling behind earning 1.69% but be ahead earning 1.25%? Unless you are literally throwing away the money you are spending with the 11 monthly transactions.


Possibly referring to the effort involved or the balance cap, but most likely just saying that his balance is lower each month and ignoring the fact that the things he bought would have been bought regardless. "Falling behind" doesn't have to mean losing money, it could just be a metric for whether it's worth the time.

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Just to show how I figure, Firstly the rate dropped to 1.41% last week for the next monthly cycle. I have a bal of 47, 220. I use the CC 12 times (2 over the requirement to make sure) (been doing this for 3.5 years with this bank). I pay a tiny amt on a cc bill/Discover to meet the requirement of one bill pay. So I charge an average of 2.50-4.00 per charge, things I would buy anyway, and paid $6.00 on the Discover bill. Each month the debits come out to approx 45.00 or less. THe interest this past period was $41.00. Next cycle it will be down to $34.00. I am still spending 40-45 on the acct monthly. How am I saving anthing?? Plus the fact of the record keeping and constantly checking online. My new system is to use my USBANK visa+ signature card. My wife and I have our own card for additional cats. You even get an extra .50% back if you put 25K in their platinum checking. So the $ from Farmers will go there. They even throw in an extra 25.00 gift card when you redeem 100.00 Cash Back. You can have the CB sent into the platinum checking acct. If I spend 1800 per month I will receive about 128.00 per month CB if using the correct categories. No need to use Discover or Chase Freedom 5% CB because the extra .50% and the 25.00 bonus make it more then worhwhile. MUch better then this RCA. What do you think?? For gas I still use the Penfed Cash Back. USBANK does not have this cat yet. Groceries also I use AMEX preferred.

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barrytuneup said:   Just to show how I figure, Firstly the rate dropped to 1.41% last week for the next monthly cycle. I have a bal of 47, 220. I use the CC 12 times (2 over the requirement to make sure) (been doing this for 3.5 years with this bank). I pay a tiny amt on a cc bill/Discover to meet the requirement of one bill pay. So I charge an average of 2.50-4.00 per charge, things I would buy anyway, and paid $6.00 on the Discover bill. Each month the debits come out to approx 45.00 or less. THe interest this past period was $41.00. Next cycle it will be down to $34.00. I am still spending 40-45 on the acct monthly. How am I saving anthing??
Your "savings" is the $45 that is still sitting in some other account, that you otherwise would've needed to use to make those 12 purchase and credit card payment. The benefits may not be worth the extra hassle, but don't say there are no benefits or that the account is costing you money.

My new system is to use my USBANK visa+ signature card. My wife and I have our own card for additional cats. You even get an extra .50% back if you put 25K in their platinum checking. So the $ from Farmers will go there. They even throw in an extra 25.00 gift card when you redeem 100.00 Cash Back. You can have the CB sent into the platinum checking acct. If I spend 1800 per month I will receive about 128.00 per month CB if using the correct categories. No need to use Discover or Chase Freedom 5% CB because the extra .50% and the 25.00 bonus make it more then worhwhile. MUch better then this RCA. What do you think??
I think that spending $1800/month with that extra .5% bonus will score you an extra $108/ year in Cash Back, or about 0.43%APY on the $25k you have tied up to get the bonus. Even if the RCA is only paying 1.41%, I'd rather have the extra $250 in interest earnings...

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naas said:   Possibly referring to the effort involved or the balance cap, but most likely just saying that his balance is lower each month and ignoring the fact that the things he bought would have been bought regardless. "Falling behind" doesn't have to mean losing money, it could just be a metric for whether it's worth the time.Wow. When I read this post, I though no way it's because he's looking at just the balance and thought he was referring to just not being worth the time. Then he confirmed what you suspected.

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Glitch99 said:   barrytuneup said:   Just to show how I figure, Firstly the rate dropped to 1.41% last week for the next monthly cycle. I have a bal of 47, 220. I use the CC 12 times (2 over the requirement to make sure) (been doing this for 3.5 years with this bank). I pay a tiny amt on a cc bill/Discover to meet the requirement of one bill pay. So I charge an average of 2.50-4.00 per charge, things I would buy anyway, and paid $6.00 on the Discover bill. Each month the debits come out to approx 45.00 or less. THe interest this past period was $41.00. Next cycle it will be down to $34.00. I am still spending 40-45 on the acct monthly. How am I saving anthing??
Your "savings" is the $45 that is still sitting in some other account, that you otherwise would've needed to use to make those 12 purchase and credit card payment. The benefits may not be worth the extra hassle, but don't say there are no benefits or that the account is costing you money.
Thanks. I'm not sure how I was going to word it. To add...

barrytuneup said:   ...Each month the debits come out to approx 45.00 or less. THe interest this past period was $41.00. Next cycle it will be down to $34.00. I am still spending 40-45 on the acct monthly...If I spend 1800 per month I will receive about 128.00 per month CB if using the correct categories.If you continued with both methods (RCA & USBank), you'd have spent about $1,745 on USBank, and $45 with the RCA. Your USBank CB would have been about $124, plus you would have still earned the $34 in interest. So you'd be up $30 (minus tax on $34).

Edit: Going back to your original post, you said you'd be moving the $47k from the 1.41% RCA to a 1.25% account. In that case, it probably is better to do that, than keep the RCA for the extra .16%. You'd make about $75 more over one year (assuming rates stayed the same), but it does come at a cost of time and forgone CB (about $4/month in the previous example). If, however, you plan on putting $25k into the USBank checking for the bonus CashBack...well, I'm just not going to figure that out. But all of these things factor into it.

There are however better RCAs out there...

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Thanks all, I'm just not into thr RCA business anymore. I still have the Coulee Bank RCA @2.55% still!. But only for a balance of 15K. My life will be simpler with the USBank cash+ with the platinum checking. The Platinum checking does pay .10 interest on the 25K thought. So with all the bonus cats 5/2/1 plus the extra .50% and the extra .25% via the $25.00 card, it's better for me. With the measly interest on the platinum acct effective rate on all buying and bill pay would be a shade under 6%.But if USBank changes the cats and offers, then I,m back to sh--!!

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One final note, you are correct that the 45.00 /month would come from some other source to pay for these charges, It would have come from my everday checking account that gets no interest anyway, so I still feel I'm falling behind, then add in inflation costs going up on everything, even the UsBank acct and all the RCA's become basically irrelevant. Example, my wife and I were in the grocery store this AM and always buy 6 packs of raisins to snack. Whoa, Sunmaid 6 packs went from 1.5 oz last year to 1.0 oz now and the new 6 packs are now .78 oz!!.We bought the Shoprite brand (upstate NY) still 1 oz, for 1.68 a pack, but later on in Walgreens saw their own brand (Nice) for 1.38 per pack still 1.5 oz). Basically the interest earned on these accts and CC Cash Back helps very little. You have to have good investments today!!

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All- I just noticed my Dallas area bank raised their rewards checking debit transaction requirements for 2013 to 12 transactions from 8. I get to keep the same interest rate for now, but it becomes more work.....

I happened to notice when I went to print out the new calendar. I suspect other bank may make changes too. I was lucky I saw it 5 days before my transaction deadline.

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Looks like Coppermark bank is still offering the 4% checking but it has 16 POS on debit transactions and 1 ACH
http://www.coppermarkbank.com/fhic/

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keam said:   Looks like Coppermark bank is still offering the 4% checking but it has 16 POS on debit transactions and 1 ACH
http://www.coppermarkbank.com/fhic/

Only works for legal residents of Oklahoma or Texas.

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A reward checking account also pays a highly attractive interest rate like saving account, but only if you can meet a specific set of criteria.

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Just opened a First Financial Bank checking account. I didn’t see any geographic restrictions.
Here’s the details…… CAN’T WAIT TO GET AWAY FROM BB&T !!!!
Get paid back for ATM fees nationwide
No minimum balance required
Online banking with bill pay
No monthly service fee
FREE debit card
Federally Insured up to $250,000 by FDIC
3.00%APY paid on the portion of the balance up to $15,000.
Have at least 12 check card purchases post and settle (ATM usage does not count toward the 12 purchases)
Be enrolled and receive e-statement notice
Be enrolled and log into online banking
If there's a month you don't qualify, don't worry! You still have a free account that earns a base rate of:
0.05%APY paid on entire balance if qualifications are not met
Note: only fundable with bank account transfer
Note also that there doesn't seem to be a direct deposit requirement

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Link? State? Little help? If not for such a generic name...

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It's the "First" one lol
https://www.ffb1.com/

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http://www.depositaccounts.com/checking/reward-checking-accounts...

To search for the best reward checking accounts. The filter is set for national but you can choose your state. I am getting 2.01% but I found an instate at 3%.

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Edit: NM, disregard

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delete

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lorymills1 said:   It's the "First" one lol
https://www.ffb1.com/


do they do a hard credit pull for opening this account online ? Please confirm as i dont want a Hard Pull for opening rewards checking

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I used to have a Danversbank / Poeple's bank RCA account. We all know how they dropped the rates. I do not think RCA are worth the hassle anymore. I am looking for a decent checking/savings that pays a good 1% rate with no balance limit and without the hassle of transactions. I am thinking Barclays or Ally. What do you recommend?

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The best deal now is EverBank @ 1.25%for guarr. 6 months with time limits. It's achecking acct that you can use any time and get 1.25%. I did it last month. No fees or charges.cutemitu said:   I used to have a Danversbank / Poeple's bank RCA account. We all know how they dropped the rates. I do not think RCA are worth the hassle anymore. I am looking for a decent checking/savings that pays a good 1% rate with no balance limit and without the hassle of transactions. I am thinking Barclays or Ally. What do you recommend?

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do they do a hard credit pull for opening this account online ? Please confirm as i dont want a Hard Pull for opening rewards checking
No. They just use Chexsystems.

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Randolph Bank lowered their APY from 2.02% to 1.77%. No notice to customers. The only notice of the change was on the rates page of their web site.

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Wondering if anyone has applied to First Financial Bank of AR (3% - 15K) & was it a hard pull?
http://www.ffb1.com/accounts/personal-checking/kasasa-cash.html

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It is possible to use your own Paypal Here or Square account to meet the transaction requirements for the RCA account? Would be nice to do all the swipes from the comfort of my home

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I look forward to a better development, so as to better contribute to the people's life. Thanks...

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lokimoki said:   Wondering if anyone has applied to First Financial Bank of AR (3% - 15K) & was it a hard pull?
http://www.ffb1.com/accounts/personal-checking/kasasa-cash.html


I applied on Jan. 28 and still have not seen any hard pull from First Financial on CreditKarma (see http://www.fatwallet.com/forums/finance/1253936/ for my full AOR details). I just received my account info. in the mail yesterday.

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No hard pull from First Financial that I saw. You could ask just to be sure - contact at 870-863-7000 or for out of town customers 1-800-562-6896.

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robodukie said:   lokimoki said:   Wondering if anyone has applied to First Financial Bank of AR (3% - 15K) & was it a hard pull?
http://www.ffb1.com/accounts/personal-checking/kasasa-cash.html


I applied on Jan. 28 and still have not seen any hard pull from First Financial on CreditKarma (see http://www.fatwallet.com/forums/finance/1253936/ for my full AOR details). I just received my account info. in the mail yesterday.

CreditKarma only checks Transunion -- a hard inquiry could have hit Experian or Equifax.

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I have credit monitoring that reports inquiries on all 3 bureaus. Didn't appear on any of them.

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Applied for an account at First Financial Bank of AR over the weekend 2/2. I am still awaiting an email stating that my account opened and was approved. I called on 2/5 to inquire. They said it may take the rest of the week to review and approve the new accounts that came in over the weekend (over 200 accounts). They must be a really small operation.

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As far as I can tell Belvoir Credit Union at 3.25% - $15K seems like the best deal. 15 debits a month, must maintain a $500 minimum balance to receive 3.25%. Rebated ATM fees (cap unknown) mobile deposits. If you pay bills through paybill it counts towards the 15 debits. To start you first fill out this application http://www.arcgpw.org/portal/membership-application and will be snail mailing a $15 check. There are many other organizations that would allow you to join, I couldn't find any that allow you join online but if someone else can find a way please post. Once you're in ARC, you then sign up though Ft Belvoir's new accounts page https://secure.loanspq.com/Consumer/Xpress/public/Disclosure.asp... there will be a hardpull, additionally it requires snail mailing in a couple of forms with your wet signature and one will need to be notarized.

When you open an account, the top option is that it covers all military regardless of duty station. I'm military but not stationed there and my initial membership was denied as they stated it was an error and you must be prove you work at fort Belvoir.

In summary:

1. Print, completely, snail mail a $15 check to: http://www.arcgpw.org/portal/membership-application
2. Once you're in ARC sign up for the credit union: https://secure.loanspq.com/Consumer/Xpress/public/Disclosure.asp...
3. Will need print and sign two forms, one of which will need to be notarized and snail mailed to the credit union.

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NutsaboutGolf and others interested in Belvoir -- I'm pretty sure that years ago I worshiped at The Abundant Life Church. If I recall correctly, at that time I forgot to make a donation. So, today I mailed them my tax deductible contribution of $5. Of course, I've kept a copy of the check I sent them -- and soon the record of them receiving and accepting my donation showing my worshipness.

My prayers continue -- prayers of thanks for the current and future life of abundance I live.

DB

P.S. Allowing billpay for the 15 debits is AWESOME! Thanks for the info!

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Only on FWF

Edit: Also, I would think that if they denied NutsAboutGolf when he actually qualified based on their published criteria, I'm thinking they might not accept your application either (assuming you don't live in the area).

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This seems important as well. Qualifications is not based on calendar month. It's from the last business day of the month to the next to last business day of the next month.

https://belvoircreditunion.org/system/files/1646/original/2013_C...
NutsAboutGolf said:   When you open an account, the top option is that it covers all military regardless of duty station. I'm military but not stationed there and my initial membership was denied as they stated it was an error and you must be prove you work at fort Belvoir.Very strange that they would erroneously specifically include "regardless of duty station". It seems by "error", they mean they changed it at some point.

Thank you for your service!

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Effective beginning the March Qualification Period (2/28/13), CUXcel Checking will require at least one electronic direct deposit of $500 or more that clears or posts within the given period to earn the 3.25% APY. This qualification takes the place of the previous 1 ACH (automatic) Deposit or Withdrawal cleared/posted. Effective beginning the March Qualification Period, bills that are paid electronically through Belvoir Federal’s Bill Pay will count towards the 15 Debit Card purchases that have cleared/posted within a given period.

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I was cc'd on the following email along with the "marketing dept":

Our charter regarding reserve personnel who are eligible for membership reads:

“National Guard personnel, or Air Force, Army, Navy or Marine Corps Reserve personnel, who train at Fort Belvoir, Virginia.”

I looked on our online application website and saw it states it's open to all regardless of duty station. I will notify our compliance and marketing department about the apparent discrepancy between our charter and the website.

All of our eligible groups are listed on our website under the Meet Us banner. Should you be eligible through your membership with any of those groups please let us know.

Let me know if we can be of any additional assistance.

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