pattyb53 said:You need to bring in at least $5k more for this rate.
Scott1961, Is it $5K more than what to get the rate of 4.11% for 7Mo? And I wonder if it is only in MA?
My Primier Manager is a stickler here in CA and would only give me 2.8% for a Risk-Free CD. Just means at least $5k of it needs to be new money, Thats great because I have money in my NEA I will move to this CD. Not sure if it's MA only but have seen in the past different regions get different rates, Usually CA had some of the better rates
While it said for Premiere Clients you could probably become one instantly by opening with $100k to get the 4.11%, or depending if you have deposits there just the difference to get you to $100k
scott1961 said:pattyb53 said:You need to bring in at least $5k more for this rate.
Scott1961, Is it $5K more than what to get the rate of 4.11% for 7Mo? And I wonder if it is only in MA?
My Primier Manager is a stickler here in CA and would only give me 2.8% for a Risk-Free CD. Just means at least $5k of it needs to be new money, Thats great because I have money in my NEA I will move to this CD. Not sure if it's MA only but have seen in the past different regions get different rates, Usually CA had some of the better rates
I just got off the phone with BoA Premier Banking and he said that 100% of it has to be NEW money UNLESS you are rolling over an existing BoA CD. (Weird part was I just had a CD expire on 7/7 and he said that didn't count). I questioned him on this hard stating I heard that only $5K of new money was needed and then he read the "CD rule sheet" to me... LOL
I have not talked to my rep yet and just posted a copy of the message, Will call him tomorrow and get more info. Even if it has to be new money I just put in new and take it back out of my NEA. At least with BoA I don't worry about insured limits
scott1961 said:I have not talked to my rep yet and just posted a copy of the message, Will call him tomorrow and get more info. Even if it has to be new money I just put in new and take it back out of my NEA. At least with BoA I don't worry about insured limits
Ya that is what I told the guy when he mentioned I needed new money..... so I will play there game... I will tranfer new money in and old money out of BoA after the CD is funded... LOL
Minesweep go to BoA web page and read up on Premier Banking qualifications and then sign up...
SleepyBum said: He said it's from July 18-29th. Didn't say anything about new money requirement, so i'll need to call back to ask about it.
I'm also in CA. My PM also called this afternoon, but he thought it would only last until Monday. I'm calling him tomorrow to get the complete details. Sure hope it lasts until the 29th.
This CD sure beats the BoA Risk-Free CD that I picked up the other day for 2.8%. But I can withdraw part of those funds and redirect the money to this CD if it doesn't require new money.
I called BOA Private Bank CS number. I was offered a choice of 2 CD's. The CA rates are 4.26% for 6 months or 4.11% for 7 months. I opened 6 month CD.
Rep stated rest of the country is 4.10% for 7 months and 4.25% for 6 months.
6 Month CD requires a minimum of $25k tho and 7 month CD require $5k only. Not sure if the 6 month promo is offered to premier clients or not. There was no requirement of new money either. Rep rolled over my 9 month 2.99% risk-free CD into 6 month CD.
dolmar, just waiting to hear what your Rep would give you. Was there a time limit on the offer? We are hearing 2 days up to 29th of month.
I'm going to make a copy of your message and take it into my Premier Manager tomorrow or call and tell him. I must keep some money in my risk-free CD to take care of emergency bill pay items that crop up from time to time.(quarterly taxes etc.)
dolmar said:I called BOA Private Bank CS number. I was offered a choice of 2 CD's. The CA rates are 4.26% for 6 months or 4.11% for 7 months. I opened 6 month CD.
Rep stated rest of the country is 4.10% for 7 months and 4.25% for 6 months.
6 Month CD requires a minimum of $25k tho and 7 month CD require $5k only. Not sure if the 6 month promo is offered to premier clients or not. There was no requirement of new money either. Rep rolled over my 9 month 2.99% risk-free CD into 6 month CD.
can any customer get this rate? I mean I am not a premier member..
pattyb53 said:dolmar, just waiting to hear what your Rep would give you. Was there a time limit on the offer? We are hearing 2 days up to 29th of month.
I'm going to make a copy of your message and take it into my Premier Manager tomorrow or call and tell him. I must keep some money in my risk-free CD to take care of emergency bill pay items that crop up from time to time.(quarterly taxes etc.)
This is great!
I think some of you might have misread or misunderstood my post. So just to be clear and everyone understands I converted one of my 9 month risk-free CD paying 2.99% into 6 month non risk-free CD paying 4.26%. The new CD is not a risk-free CD so you can not withdraw funds from it without paying a penalty.
I am sorry if I was unclear or people misunderstood me when I said I rolled over my 9 month risk-free CD into 6 months CD. I assumed because I never called either one of the 2 choices the CSR offered a risk-free CD people understood they were normal CD and not risk-free CD. The only reason I mentioned that I rolled over my risk-free CD was because the rep never said I had to bring in new money or anything like that as she let me convert a lower paying CD into this newer higher yielding CD without any problems.
Like I said I have no idea if 6 month CD offer is available via the retail bank or not but the 7 month offer sure sounds the same as the offer other people received except in CA it is paying 4.11% vs 4.10% outside of CA.
pattyb53 currently I have no private banker assigned to my account as he quit BOA last month. I called the number on the back of my Private Bank ATM Card customer service number and they were ones who were able to offer me the 2 different CD's. I never asked when the offer expired or anything as I normally do not buy CD at all except currently 4%+ is not a bad rate on short term CD a major bank except for VRDN/VRDN nothing is paying 4.25% risk-free going out 6 months.
mnsweeps said:can any customer get this rate? I mean I am not a premier member..
Well according to a couple of other posters the 7 month CD requires being a Premier client and Private Bank is a level above that even. I have no idea if the 6 month CD is being offered to retail clients or just private bank clients. I am sure people will report back tomorrow on there success in being able to get the 6 month deal but I am also willing to bet money that the 6 month CD more than likely is being offered to premier clients or better or just private bank clients only as $25k minimum is well above the minimum required for BOA mid-level which is $5-10k depending on were you are located so more than likely it will not be offered to general public.
Maybe it's just me, but I find it funny how these premier BoA customers are discussing here. Too bad I'm not their bankers' boss, I'd need one less of my subordinates
So it's not Premiere only, Figure it's like I have seen in the past where only a Premier customer can get this rate in a branch. I am going to push my rep for the 6 month 4.25%
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