posted: Nov. 1, 2007 @ 3:46p 
Any experience with them? How long transfers take, etc
http://www.zionsbank.com/deseret_learnmore.html
Any experience with them? How long transfers take, etc
http://www.zionsbank.com/deseret_learnmore.html
Zions Bank Deseret Money Market
Previous archived FatWallet discussion
$1000 to open, no interest paid if balance falls below $1000
5 free checks included in "welcome" package
ACH target allowed
Very limited ACH originate, practically useless (optional)
Posted On: 10/27/2007
nice rate.
Posted On: 10/27/2007
Super long setup, weird limits on EFT/ACH transfers initiated at Zions -- ING transfers and withdraws from Zions with no limits! 
Posted On: 10/25/2007
zions desert money market is one of the highest rates out there. was getting 5.56% for awhile now. you will need to send in ID though.
Posted On: 10/22/2007
Asked for notarized copy of drivers license AFTER I sent in my money. Not asled for in application. I told then to cease work and return my checks. A real sorry operation.
Posted On: 10/15/2007
this bank has been great .Easy to communicate with by phone,I have online savings and checking and all works great plus the highest rates around.An a1 bank
Posted On: 10/06/2007
Startup isnt easy. They like detail.But who cares with the result of 5.56 APY.
Posted On: 10/03/2007
They asked for notarized state ID or drivers license after I had submitted the initial deposit. That left my money in limbo until this verification was complete. What a scam! This was never disclosed in the application.
Posted On: 8/30/2007
I wanted to set up an account with them even completed the application. You have to mail in your initial deposit. I , then, called a rep. to ask if all transactions will have to be by mail and was informed that itis only the initial one. I also inquired about what the review dated 7/19 said and was told that was true.
Posted On: 7/19/2007
Account setup took weeks; customer service reps not very knowledgeable. In addition, Zions doesnt seem to inform that ACH withdrawals are limited to $500; Hence, you can only ACH withdraw $3,000 a month via ACH with the 6 withdrawals per month limitation.
Posted On: 6/24/2007
Too hig a minimum. Problems getting account set up
I mailed in initial deposit last Friday, Nothing yet. I just plan on using it as a place to park some money. Not worried about ACH as it has check writing. Once account gets opened I will ACH just to test speed and post results
I have had it for about a year, but of course I love it, I have checking with them as well, so transfers are instant from checking to MM and vice versa, so for as little difference as there is between them and the next bank's MM rate I make up by not losing days of interest (but this would be different if you keep a super large balance, which I do not).
berlinsmommy said:I have had it for about a year, but of course I love it, I have checking with them as well, so transfers are instant from checking to MM and vice versa, so for as little difference as there is between them and the next bank's MM rate I make up by not losing days of interest (but this would be different if you keep a super large balance, which I do not).
What about this
Account setup took weeks; customer service reps not very knowledgeable. In addition, Zions doesnt seem to inform that ACH withdrawals are limited to $500; Hence, you can only ACH withdraw $3,000 a month via ACH with the 6 withdrawals per month limitation.
welookgoodcom said:berlinsmommy said:
What about this
Account setup took weeks; customer service reps not very knowledgeable. In addition, Zions doesnt seem to inform that ACH withdrawals are limited to $500; Hence, you can only ACH withdraw $3,000 a month via ACH with the 6 withdrawals per month limitation.
Yep. Sucks. Realized that after I set up my account. Am now going to transfer everything out and go elsewhere.
Not sure why people are complaining as I have found them excellent so far. I applied 10/25 and mailed check same day. Account was opened and earning interest as of 11/1 and money not pulled till 11/2. Got an email on 11/5 with login info and logged on with no problem. The ACH out transfers are low but you can pull up to 6 times a month and no maximums. So I will link Zions to my Countrywide and could pull money out in one day or just use one of the 5 checks they sent me
welookgoodcom said:berlinsmommy said:I have had it for about a year, but of course I love it, I have checking with them as well, so transfers are instant from checking to MM and vice versa, so for as little difference as there is between them and the next bank's MM rate I make up by not losing days of interest (but this would be different if you keep a super large balance, which I do not).
What about this
Account setup took weeks; customer service reps not very knowledgeable. In addition, Zions doesnt seem to inform that ACH withdrawals are limited to $500; Hence, you can only ACH withdraw $3,000 a month via ACH with the 6 withdrawals per month limitation.
Unfortunately, I have no experience with all of this. I already had the checking account, so since all transfers between accounts are electronic and instant, I didn't need customer service reps and I transfer everything to checking, so I guess that doesn't count as an ACH since I've done as much as $3k in one transaction, but every single one of my MM transactions has been either in or out of checking.
Scott - I'm surprised they were so fast with you.
I applied for the Deseret MMA on 10/17, sent in the initial deposit, and only yesterday did I see the funds removed from my checking account. No email yet for the account info, though I do have the account number..
I've spoke with the customer service several times, and they are very helpful and personable. More so than the big banks, that's for sure.
Have you gone online yet? If not just call 800-840-4999. They give you a temporary password and you just use your SS# less dashes for user name
Ahhh, thanks Scott.
Previously before, all the reps I've spoken to told me to wait for the Welcome Packet.
Just got off the phone with yet another friendly rep who helped me set up my online access.
Nuts.
Deseret went down to 5.40% from 5.51% when I signed up. Oh well......
could someone clarify if the interest applies to the entire balance or if it's laddered? i can't decipher disclaimer with ** on the account disclosures page. thanks.
scripta said:could someone clarify if the interest applies to the entire balance or if it's laddered? i can't decipher disclaimer with ** on the account disclosures page. thanks.
It's not laddered; whatever interest rate you qualify for is for the entire balance.
Got my welcome package today with 5 free checks. So far nothing but good things to say about them. Now will just sit back and hope they keep up better than average rates. If not, just write out a check and deposit it to a local bank
It looks like check deposits start earning interest fairly soon after they are posted. I mailed my account opening deposit from New York on Wed, Oct 31. They posted the deposit at ZionsBank on Tue Nov 6. The check cleared the sending bank on Wed Nov 7. My first interest payment posted on Fri Nov 9, and it was for two days interest. So, it looks like, at most, one days interest was lost.
Anyone here got this account linked with their Countrywide savings link account, so you can ACH transfer in and out?
I'm having trouble setting it up at Countrywide, and was wondering if I need to set the account type as "checking" perhaps?
The rate has dropped again:
Over $50K: 5.23%
$1K to $50K: 5.08%
Under $1K: 0
mediocre reviews of zions bank at bankoholics
http://www.bankaholic.com/money-market/
scroll down and click their reviews to read
JayWoo55 said:mediocre reviews of zions bank at bankoholics
http://www.bankaholic.com/money-market/
scroll down and click their reviews to read
I did, and although there were some people who had complaints about them, others gave very glowing reviews, saying precisely the opposite, especially regarding customer service. I'd evaluate their 3 out of 5 star rating as good, not mediocre. Balancing out the number of reviews, the rating, and the APY, Zions Bank is a good deal. I've had a Deseret Money Market account with them for over a year, and while most of my money is elsewhere due to higher interest rates, I've been happy with them. I do not use them as a full-service bank, just somewhere to put some money, but whenever I've had questions, their customer service has been responsive.
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