Any guess what would be the APR for December?
I am aware that they don't announce until the last week of November.
But just post your thoughts.

fw9999 said:But for any significant level of liquid funds, I'm going for another bank that regionally offers me 4% FDIC savings with a 6-month lock
Which bank is this? I did this with National City a couple months ago but it's now at 3.75% APY.

(and in a separate case, a local Chicago-area-customer-limited bank that offers a surprising 4.50% FDIC savings with a 6-month lock).
Washington Federal Bank? I had my husband open that acct. After he opened it, I found out that the only way to make withdrawals is at the branch! They don't even allow external ACH withdrawals. no checks either. meh.

Such offers usually have high minimums which make them somewhat like a CD and you are stuck with them if the rates go down, or with lower rates if you drop below the minimum.

I look for the highest rates with the least balance requirements so I don't have to worry about charges, losing interest, or accessing the funds when I need them, i.e. I can lower the account to $1 and keep it open. It also helps the funds are easy to access electronically.

Alliant CU and Provident-Direct fit this bill so far.

There is usually a lost interest problem when switching banks. One can lose a day or two of interest. That may not seem like much but can be significant if you are not moving very large sums.

This Interest Rate Chaser Calculator can be very enlightening:

http://www.mymoneyblog.com/archives/2006/10/the-ultimate-interes...

john98 said:yes, on an average 4-5 days interest will be lost while moving money between banks for higher APR.Remember, this thread is about Alliant CU, not ACH tranfer speeds. The delay or lost interest depends on which bank you initiate the ACH transaction through. Federal law requires that external deposits are posted to your account within 2 business days; however the same regulation does not apply to when funds can be withdrawn when you are sending your money to another bank via ACH. This speed therefore varies widely by financial institution, and it is possible to have no lost interest at all.

Any update on Alliant Savings APR for December? Did any one call them?

mttatkns said:john98 said:yes, on an average 4-5 days interest will be lost while moving money between banks for higher APR.Remember, this thread is about Alliant CU, not ACH tranfer speeds. The delay or lost interest depends on which bank you initiate the ACH transaction through. Federal law requires that external deposits are posted to your account within 2 business days; however the same regulation does not apply to when funds can be withdrawn when you are sending your money to another bank via ACH. This speed therefore varies widely by financial institution, and it is possible to have no lost interest at all.

Anyone who moves funds in or out of Alliant or any other bank will have an interest in ACH transfer speeds. I find initiating transfers at Alliant takes longer than externally initiated transfers which is why I initiate transfers to and from Alliant from other institutions. Alliant takes 2-3 days; the other institution takes 1-2 days.

ThursdaysChild said:Argyll said:john98 said:yes, on an average 4-5 days interest will be lost while moving money between banks for higher APR....I find initiating transfers at Alliant takes longer than externally initiated transfers which is why I initiate transfers to and from Alliant from other institutions. Alliant takes 2-3 days; the other institution takes 1-2 days.
Unless the other institution is Countrywide, in which case the withdrawal and deposit are posted the same day.

Transfers to and from Alliant with Countrywide are posted the same day? I would be very surprised as Alliant reps themselves say nothing is posted that fast.

Thanks for the info! Good on Countrywide they are so quick.

I believe it's the same with Provident. It takes one day from the date of the request. For instance, a transfer I requested on the 17th was posted to Alliant on the 18th. And it works vice-versa when initiated from Provident.

There is no hold on the Provident side for transferred funds, a decided difference from many banks (although I'm sure a hold applies for transfer of large sums). This is a very convenient feature.

[I tested transfers initiated from Alliant several times and they took 2-3 days--that was almost a year ago and I have not tested it since. I initiate most transfers from other institutions.]

Has anyone learned yet what will be the Alliant share savings interest rate for December?

Sure hope they do not cut it.