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larkin said:   

† I had the same experience.† My Smart Savings promotional rate ended on November 18.† They converted me to Essential Savings with the 6-month promotional rate.† Has to be done in-branch.† The phone CSRs flat out refused unless I added the additional 10K.† Hey Capital One--here's an idea...enough with the promotional BS...settle on a decent rate and stop making your customers jump through hoops.



† This is very strange since the rep that set up our accounts specifically stated that Capital One starts these new accounts to keep customer's money at the bank - she said they had been losing customer accounts recently. I had planned to move my money to BBVA - just moved $10k there the week before. I was planning to close the Capital One account.

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Jim1504 said:   
larkin said:   

† I had the same experience.† My Smart Savings promotional rate ended on November 18.† They converted me to Essential Savings with the 6-month promotional rate.† Has to be done in-branch.† The phone CSRs flat out refused unless I added the additional 10K.† Hey Capital One--here's an idea...enough with the promotional BS...settle on a decent rate and stop making your customers jump through hoops.



† This is very strange since the rep that set up our accounts specifically stated that Capital One starts these new accounts to keep customer's money at the bank - she said they had been losing customer accounts recently. I had planned to move my money to BBVA - just moved $10k there the week before. I was planning to close the Capital One account.

The problem I have with that rep is that had you not asked, you, like me, would have been gone.† It makes me wonder how many people don't ask and just bail.† Misguided retention policy.

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Ally Bank up to 0.95%.

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Medikit said:   Ally Bank up to 0.95%.
††Does Ally have a good†history of always being almost competitive?† Or have there been any times when their interest rates were drastically uncompetitive?† I want a bank that will always try to be near the top, even if not at the top.

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In the crisis Ally became quite unpalatable. They usually have one or more accounts that are reasonable though. I jumped on their 5 year CD before they extended the penalty period.

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What's the best bank for the long term? One with a history of trying to stay reasonably competitive, and without a lot of hassles from website bugs or anything. For people who are too busy to keep paying attention and switching banks. A bank with checking and savings, with the savings usually being near the top, in the sense that 0.95% is near the top now. This is for total liquid assets of between 50K and 100K. I presently use Discover Bank, whose interest is reasonably competitive, but want to switch because they have too many bugs in their website, and never seem to get around to fixing any of them. Discover card has a very good website, but Discover bank's website is the buggy one.

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9000 said:   What's the best bank for the long term? One with a history of trying to stay reasonably competitive, and without a lot of hassles from website bugs or anything. For people who are too busy to keep paying attention and switching banks. A bank with checking and savings, with the savings usually being near the top, in the sense that 0.95% is near the top now. This is for total liquid assets of between 50K and 100K. I presently use Discover Bank, whose interest is reasonably competitive, but want to switch because they have too many bugs in their website, and never seem to get around to fixing any of them. Discover card has a very good website, but Discover bank's website is the buggy one.

I recommend Ally Bank. There customer service is pretty great. You can get a lot done just by using the chat window. They will confirm later by phone to prevent fraud. Checks are free. All ATM withdrawals are reimbursed, this allows me to use any ATM I want. 5 year CDs are better than a 1% savings account if you leave the money in for about a year due to the small 150 day penalty.

The only major change in interest rates has been their checking account which decreased substantially though it is still pretty great if you have more than $15,000 in checking.
jumblies said:   In the crisis Ally became quite unpalatable. They usually have one or more accounts that are reasonable though. I jumped on their 5 year CD before they extended the penalty period.
††I'm not sure what you are talking about. Ally didn't really exist until after the financial crisis peaked. They were GMAC which required a significant bale out from the government. Their savings/checking rates have always been very competitive though interest rates suck everywhere now.

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Barclays just raised rates now on their savings accounts, 1.00% on the online savings account and 1.05% on the dream account. I presume dream account rate bonus is also valid so I'm sticking with my funds at Barclays. Remote deposit app does not work on my iPad anymore due to new ios upgrades as app is old and doesn't appear to be supported anymore. I used Capital one mobile deposit as a workaround and will ACH transfef funds in from now on for checks I receive.

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Barclays.† On 12/15/2014, the Annual Percentage Yield (APY) on your Online Savings account increased from an APY of 0.90% to the new APY of 1.00%. Additionally, your Dream account increased from an APY of 0.95% to the new APY of 1.05%.

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Ally Bank Online Savings now up to 0.99%

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No Go at a second Cap One branch for me. Same story, I need to bring additional 10k in new money to qualify for the Essential Savings. They would not budge on that.

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