All rates are going down. They are just starting to reflect the most recent Fed rate cut and there may be another Fed rate cut in December.

There's not much choice other than to stick with them for liquid funds. The other choice is CDs.

Provident-direct still shows 3.75% but it's likely they will drop as well.

Argyll said:All rates are going down. They are just starting to reflect the most recent Fed rate cut and there may be another Fed rate cut in December.

There's not much choice other than to stick with them for liquid funds. The other choice is CDs.

Provident-direct still shows 3.75% but it's likely they will drop as well.

All so true.

Along with rates it's savers' throats that are in process of being cut.
And the bloodletting is well under way.

I always wondered what I would be doing with my savings. Never dreamed I would be bailing out CitiBank and so many other such toxic New York City "institutions". They were the smart and sophisticated ones. I'm just a "poor but honest" old dirt farmer (see my avatar) who attended the "stupid but trying to do my best" school of economics . . . . . and did not graduate! Now they need MY money to survive!! Give me a major break.

We're fortunate Alliant didn't cut the rate by 50 beeps.

HSA is now at 4.5%

How many lost interest days when doing the transfer and how much?

midas89 said:Imperial Capital Bank still has their 3.93% (4% APY) Savings II Account (it is not listed on their Website, but a branch manager confirmed it still available...and I saw it listed on their accounts and rate sheet). This rate is guaranteed until Jan. 20, 2009.

I transferred some money from my Alliant Savings to my existing ICB Savings II account because Alliant dropped their rate to 3.44% (3.5% APY).

I do not know what the rate will be come Jan. 20.

Imperial Capital still is offering a Money Market Checking Account with a 3.75% APY if your balance is at least $100,000.

Why the redmarking of posts on lost interest days?

This is an important point if you are switching funds between banks looking for higher yields, which seems to be a reason people frequent fatwallet forums.

Many times it is not worth it unless you are sure the rate difference will last a year or more, it is a significant difference, and you are moving large funds.

You can lose as much as 3-5 days interest switching between accounts.

Try some calculations here:

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

As I've mentioned before, the Alliant initiated ACH transfer usually takes 2-3 days.

The external account I use to intiate ACH transfers (either way)takes 1-2 days so I initiate all movements from another account (in this case Provident Bank).

guardian44 said:OP here. Wanted to report on my latest Alliant experience. It is a happy outcome. If this subject has already been reported on please forgive me. This thread has become a lot longer than I anticipated it would when I started it.

This is re how Alliant is handling "bank to bank" ACH transfers. I only just began using this service at Alliant, moving over as I am from HSBC. At HSBC everything takes three days. I expected no better at Alliant. I was wrong.

This post is limited to movement of funds INTO Alliant via ACH. That's all I have done so far.

I initiated my most recent transfer late in the day Tuesday. I was surprised to find the money earning interest in my Alliant savings account TODAY. That's two day service and it exceeds my expectations. The same thing happened to me last week, but I thought that might be a fluke. Apparently it was not a fluke.

I didn't move over to Alliant from HSBC expecting faster ACH service. I moved for other reasons. So this has been an unanticipated plus for me.

Again, I have not yet moved funds OUT using ACH. Really, I will most likely do that with checks. I have the auto transfer activated (savings to checking) so the most I will be tagged for is ten bucks, if I don't move the funds to checking in time manually.

That's all I have to report. Except I wish I had started using the Alliant ACH service a long time ago. Inertia sucks, especially when you're at HSBC.

nilmot said:AlliantCU said:Keep in control of your Alliant checking account with Online Banking If you have an Alliant checking account, then using our Online Banking system is the perfect way to manage it. Rely on Alliant’s Online Banking to: * Keep current on your check writing activity and balance 1. Monitor your current balance and charges recently posted to your accounts 2. See your account statements (for the last 18 months) 3. View electronic images of cleared checks you’ve written * Set up account alerts, if you wish, to notify you by e-mail about your transactions, including 1. A daily summary of the prior day’s deposits, withdrawals and ending balance 2. When your account reaches a balance you specify 3. When indicated check numbers clear 4. When an electronic deposit you made (such as an ACH, payroll check or pension check) is credited to your account 5. One time reminders or custom messages you want to send to yourself * Pay your bills with our free Bill Pay 1. Make one time payments 2. Make recurring payments to the same payee 3. Schedule monthly automatic payments to payees 4. Specify the date you want to make payments 5. Submit stop payment requests * Instantly transfer funds to and from your other Alliant savings and checking accounts. Also transfer funds to your credit card, to the accounts of other members or to accounts at other financial institutions * Make online deposits to your checking account via eDeposits and enjoy immediate access to the funds (available to qualified members) * Customize the name of your checking account * Open an additional checking account, supplemental saving account or a share Certificate * Order additional checks * Update your mailing address – or those of joint account owners * Send a Secure mail message to an Alliant Member Service Representative concerning your account – for instance, if you question the validity of a charge posted or scheduled to post to your account Anyone with experience with this? TIA

Pretty much you have to opt into this program if you qualify. You enter the check info (payee info, amount, etc) and the funds up to your designated credit line will be available once you submit the information. Then you must use these prepaid envelopes to mail in the check. This is not at easy as USAA's Deposit @home, but surely is a nice feature.

Credit Unions to Get Federal Assistance
Most Institutions Are Healthy Despite Crisis

http://www.washingtonpost.com/wp-dyn/content/article/2008/12/09/AR2008120903013.html?hpid=topnews

I just contacted customer service, and it looks like the yield is going to fall to 3.25%. Not as bad as I expected.

skadoo323 said:nilmot said:eDepositPlus, an innovative service that allows you to deposit checks electronically into your account using your home scanner and eliminates the need to mail checks in the special eDeposit envelop and paying for postage.

* Enroll in eDeposit through online banking under “additional features” in the left hand navigation menu. This will enable access to eDepositPlus.
* Enter the dollar amount of the deposit
* Scan the front and back of your check
* Follow the prompts to complete your deposit
* Repeat this process for additional deposit items

If you wish to use the built-in check scanning software, the first time you use this service the EZTwainX ActiveX Control must be installed on your computer. When you are prompted, click on the browser's yellow information bar to install the control.

Enjoy immediate access to available funds deposited using eDepositPlus. Funds deposited to your account may not be available immediately based upon check hold policies.

 

 

 

 


Too bad I don't have a checking account with them anymore. I wanted to see how it compares to USAA's Deposit@home


With Alliant you enter the check info on their site and up to a certain amount is credited instantly and then you need to mail in the check (they offer free envelopes, but it is not prepaid). With USAA you scan the check and a certain amount is instantly credited, no need to mail in the check.Check the highlighted part.