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I opened a Roth IRA with Alliant recently and I had to mail in the form, because they wont accept scanned copies via email, and my job wont let me fax long distance.

I asked CSR if I had to send in a form each time I wanted to contribute more money. They said yes. I figured with low rates on interest, it wouldn't matter much for tax purposes if I kept the money in taxable Alliant savings for a few months and made lump sum contributions.

Once the Roth IRA was opened, I found out that I can make contributions from my checking/savings account online, using the basic transfer option, and simply select Roth IRA as my destination account, and make the contribution instantly.

Unfortunately, Alliant wont let me withdraw from the Roth IRA without sending in a form. I'm using this as an emergency savings fund, but I shouldn't have an emergency that can't wait for me to pay $1 and fax in the request at a local Kinkos if necessary.

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blaze03 said: Uh wow, the check I sent them on Saturday is on hold til the 30th. I did that to avoid the 10k/day ACH limit....bad idea..
Never mind, logged in today and all of it was added to the balance, although it doesn't count as available. I did do a previous ACH pull so I have some available funds in there already though. Hopefully I'm starting to build interest already.

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tripleB said: my job wont let me fax long distance.I thought you were a student now?

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mttatkns said: tripleB said: my job wont let me fax long distance.I thought you were a student now?

I received my JD and have begun work.

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Crazytree said: blaze03 said: Uh wow, the check I sent them on Saturday is on hold til the 30th. I did that to avoid the 10k/day ACH limit....bad idea..I had done 3 savings-checking transfers earlier this month and 3 ACH pushes of $10k each. Hit my 6 monthly transfer limit from savings. May have to hit the ATM.

Unless you're up against FDIC limits, why are you putting much money into savings when the interest on checking is the same?

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JeebusSaves said: Crazytree said: blaze03 said: Uh wow, the check I sent them on Saturday is on hold til the 30th. I did that to avoid the 10k/day ACH limit....bad idea..I had done 3 savings-checking transfers earlier this month and 3 ACH pushes of $10k each. Hit my 6 monthly transfer limit from savings. May have to hit the ATM.

Unless you're up against FDIC limits, why are you putting much money into savings when the interest on checking is the same?
Good point. Force of habit where I pay all my bills every month through checking and transfer the balance to savings minus a monthly cash cushion. Thought there was a small difference in rates, but they're both at 1.49%.

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JeebusSaves said: Crazytree said: blaze03 said: Uh wow, the check I sent them on Saturday is on hold til the 30th. I did that to avoid the 10k/day ACH limit....bad idea..I had done 3 savings-checking transfers earlier this month and 3 ACH pushes of $10k each. Hit my 6 monthly transfer limit from savings. May have to hit the ATM.

Unless you're up against FDIC limits, why are you putting much money into savings when the interest on checking is the same?


Math question related to the above:

Isn't it better to have all of your money in the same account, so that it compounds better? Or is it the same if split between two accounts with the same rate?

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blaze03 said: JeebusSaves said: Crazytree said: blaze03 said: Uh wow, the check I sent them on Saturday is on hold til the 30th. I did that to avoid the 10k/day ACH limit....bad idea..I had done 3 savings-checking transfers earlier this month and 3 ACH pushes of $10k each. Hit my 6 monthly transfer limit from savings. May have to hit the ATM.

Unless you're up against FDIC limits, why are you putting much money into savings when the interest on checking is the same?


Math question related to the above:

Isn't it better to have all of your money in the same account, so that it compounds better? Or is it the same if split between two accounts with the same rate?


I * (A + B) = I*A + I*B

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collinong said: blaze03 said: JeebusSaves said: Crazytree said: blaze03 said: Uh wow, the check I sent them on Saturday is on hold til the 30th. I did that to avoid the 10k/day ACH limit....bad idea..I had done 3 savings-checking transfers earlier this month and 3 ACH pushes of $10k each. Hit my 6 monthly transfer limit from savings. May have to hit the ATM.

Unless you're up against FDIC limits, why are you putting much money into savings when the interest on checking is the same?


Math question related to the above:

Isn't it better to have all of your money in the same account, so that it compounds better? Or is it the same if split between two accounts with the same rate?


I * (A + B) = I*A + I*B

Ok, you're right Thank you.

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brawa said: I just received a postcard in the mail today with a new $50 bonus for opening a high rate checking account. The new code is J592.

I can take a picture of the terms if needed, but the basics:
-New account opened between April 5 and May 28
-Needs to meet a requirement of monthly DD from outside institution by June 18. No mention of minimum.
-Bonus will be posted by June 30
-Must keep account open for 6 months or the bonus will be subtracted upon account closing (or from an attached savings account)


Many thanks, that's worth lots of free burritos! This is why I am addicted to Fatwallet!

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blaze03 said: blaze03 said: Uh wow, the check I sent them on Saturday is on hold til the 30th. I did that to avoid the 10k/day ACH limit....bad idea..
Never mind, logged in today and all of it was added to the balance, although it doesn't count as available. I did do a previous ACH pull so I have some available funds in there already though. Hopefully I'm starting to build interest already.


Interest starts accruing the day of deposit at Alliant, no matter what form of deposit it is. That's nice and it's true even for deposits made in the evening, up to approx 10pm CT (unless they changed that to noon when they recently changed the ACH cutoff to noon, but I really doubt that).

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Does Alliant provide a 1099-INT online or do they only provide a paper version in the mail?

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FutureDilemma said: Does Alliant provide a 1099-INT online or do they only provide a paper version in the mail?

Yeah, you can access it via the e-statements link.

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FutureDilemma said: Does Alliant provide a 1099-INT online or do they only provide a paper version in the mail?Yes. Select Tax Forms from the menu on the left after you login and you should be able to find your 1099's under statements.

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Thanks. I joined this year so I don't have one yet but wanted to make sure that it will be available online.

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yes...it's available online and also is sent to you in the mail as well...

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Can I opt out of the paper version if I am getting it online? I have opted for eStatements. Will I still get a paper version?

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FutureDilemma said: Can I opt out of the paper version if I am getting it online? I have opted for eStatements. Will I still get a paper version?

Not as far as the tax form is concerned...i believe they are required by the irs to mail those out...but you won't get any actual monthly statements mailed to you, since you selected e statements only...

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DollarSavingsDirect doesn't mail a paper version. They provide it in the account online. So an online statement probably satisfies the IRS requirements. Alliant may see things differently though, so it's good to know. Thanks.

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No problem...actually, they all should mail them...as getting one in the mail is a good reminder that you need to file it...when you get it online you might be forget to bring it up and print it out...

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craig10x said: No problem...actually, they all should mail them...as getting one in the mail is a good reminder that you need to file it...when you get it online you might be forget to bring it up and print it out...Technically, there's no need to print it out and you are obligated to pay tax on interest regardless of whether or not you are issued a form in the mail, electronic, or otherwise. This is merely a matter of preference - some (such as myself) could say they prefer electronic copies because they're easier to keep track of, values can be copied and pasted, and there is no threat of identity theft when the incompetent post office misdelivers your mail.

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Anyone know if they will up the rate in May?

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welookgoodcom said: Anyone know if they will up the rate in May?

I think we should be hoping they just keep it the same vs lowering it. A raise would be fantastic but the chances are about zero.

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There's always Incredible bank

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welookgoodcom said: Anyone know if they will up the rate in May?

I have heard about what will happen to rates in May, and let's just say that some people will be very happy, and some people will be very unhappy, but I am not allowed to reveal details. Stay tuned!

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tripleB said: welookgoodcom said: Anyone know if they will up the rate in May?

I have heard about what will happen to rates in May, and let's just say that some people will be very happy, and some people will be very unhappy, but I am not allowed to reveal details. Stay tuned!


OK.... the only thing I can guess from this... 2% for the 1st $25k, 1% for over $25k. There's my guess. lol... I'll just assume you can't confirm or deny... but... it would be nice...

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If they do that I wouldn't mind as long as its the checking.. Then I'd keep my first 25k there and move the rest..

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I usually check...but forgot to this month (lol)

I e-mailed them, but probably won't get an answer until monday...They would likely know by now..I'll post it when i find out

Just taking a guess...it will probably be the same as last month...

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chuck75 said: tripleB said: welookgoodcom said: Anyone know if they will up the rate in May?

I have heard about what will happen to rates in May, and let's just say that some people will be very happy, and some people will be very unhappy, but I am not allowed to reveal details. Stay tuned!


OK.... the only thing I can guess from this... 2% for the 1st $25k, 1% for over $25k. There's my guess. lol... I'll just assume you can't confirm or deny... but... it would be nice...
The person who posted that is this board's class clown. Don't try to make anything of what he said. Just ignore and move on.

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chuck75 said:
OK.... the only thing I can guess from this... 2% for the 1st $25k, 1% for over $25k. There's my guess. lol... I'll just assume you can't confirm or deny... but... it would be nice...


You're very close!

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Well, surprisingly my "contact" in management happened to be looking at the secure e-mails today (when he does he usually will respond to me right away)....and here is the scoop:
As i guessed, the rate for both Share Savings and the Interest Checking will remain at 1.50% apy for the month of May

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As always, thanks Craig! I would have been surprised by anything else. I figured that they previously did a 50 bp rather than a 25 bp drop so that they could maintain the new rate for a while.

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ThePessimist said: As always, thanks Craig! I would have been surprised by anything else. I figured that they previously did a 50 bp rather than a 25 bp drop so that they could maintain the new rate for a while.

You are very welcome ThePessimist
Even though we don't agree regarding debit card philosophy...you are ok in my book (lol)

I had forgotten to ask him for an update on the new Online Banking...so i had replied to his answer on the rate e-mail he sent me and i just got in and saw that he had responded about it...
As you know, it was scheduled to launch in May...

He said that it's now been schedule to have a launch window of June-July...So, looks like a bit more wait on that, unfortunately...

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Craig:

Can you pass along 2 complaints I have with the online system.

1) Requires member number for login rather than allowing a customized login name. It's difficult to remember the number.

2) Allow user customizable security questions. The included questions are non-standard, and have multiple choice answers. Standard Questions would be: Mother's Maiden Name, City of Birth, First Pet's Name. I always remember those 3 because 99% of banks use them. I don't always remember what month my parents got married or what my favorite type of music happened to be at the time I answered the question.

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No problem, TripleB....but i will have to wait until during the week...i don't like to bug him too much...especially when he is responding on his "own time" (on the weekend)...

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Understood. Also ask if Alliant can institute a Fun and Profit tab within the account screen.

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tripleB said: Craig:

Can you pass along 2 complaints I have with the online system.

1) Requires member number for login rather than allowing a customized login name. It's difficult to remember the number.

2) Allow user customizable security questions. The included questions are non-standard, and have multiple choice answers. Standard Questions would be: Mother's Maiden Name, City of Birth, First Pet's Name. I always remember those 3 because 99% of banks use them. I don't always remember what month my parents got married or what my favorite type of music happened to be at the time I answered the question.


I agree, especially with #1. I hate that I have to use my account number.

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tripleB said: Understood. Also ask if Alliant can institute a Fun and Profit tab within the account screen.

I e-mailed them TripleB...I'm sure they will consider your suggestions...

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brawa said: I just received a postcard in the mail today with a new $50 bonus for opening a high rate checking account. The new code is J592.

I can take a picture of the terms if needed, but the basics:
-New account opened between April 5 and May 28
-Needs to meet a requirement of monthly DD from outside institution by June 18. No mention of minimum.
-Bonus will be posted by June 30
-Must keep account open for 6 months or the bonus will be subtracted upon account closing (or from an attached savings account)


Anyone else gotten this postcard, or successfully used this bonus?

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I got this postcard and used it. I already had a savings account, but no checking account.

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