3.80% APY* No minimum balance requirement FDIC insured ability to export to MS Money, Quicken, QuickBooks a limit of 3 withdrawals a month and a maximum of $10K withdrawal a day.
doglar said: 3.80% APY* No minimum balance requirement FDIC insured ability to export to MS Money, Quicken, QuickBooks a limit of 3 withdrawals a month and a maximum of $10K withdrawal a day.
please post experiences with this bank- Thanks!I just opened one a couple weeks ago.
I didnt initailly have access to their online ACH system (it seems to be a 'new feature'), I had to submit transfer requests via secure email. This included emailing the verification deposit amounts for my opening deposit. But just today I got an email that I can now do transfers online myself. Limit of 3 linked external accounts.
ACH transfer speed (per secure email message): "If you request an ACH transfer on Monday it will leave your source account on Tuesday, will be placed in your Venture Bank account on Wednesday with a five business day hold, available the following Wednesday"
The ACH limits are 3 inbound transfers per day not to exceed a total of $50,000, and 3 outbound transfers per day not to exceed a total of $10,000. But larger amounts can be done via the phone.
No mention of "3 withdrawals a month", I'd assume the standard 6/month applies.
Push/pull from an outside system works fine as well. Routing #125107671
Interest is compounded monthly and paid monthly based on daily collected balances.
* How can I make deposits and transfer money in my Wise-Choice Savings account?
You can make all of your deposits and withdrawals online through your secure online banking accounts. Deposits and withdrawals pass between your linked (external) funding account(s) and Venture Bank Direct via the Automated Clearing House (ACH) and usually it takes 2 to 4 days to process. To transfer funds you can log in to your online banking, click on Contact Us and let us know the amount you would like to transfer.
* When are new deposits available for withdrawal?
Initial funding made electronically via ACH will be available after you have verified the small deposits made to your linked (external) account. Future deposits may be withdrawn after 5 business days.
* How long does it take for the money I withdraw from my VBD account to appear in my non-Venture Bank Direct account?
Inbound and outbound transfers initiated between Venture Bank Direct accounts and those you may have at other financial institutions can take 2 - 4 business days.
Just to update with real experience, ACH transfers using their system seem to have only a one-day gap either way.
If you request a PULL on Monday, the money is removed from the source account on Tues and is credited to Venture account on Wed.
If you request a PUSH on Monday, the money is removed from Venture on Monday, and is credited to the destination account on Tues.
craig10x
Senior Member - 5K
posted: Oct. 19, 2008 @ 11:21a
Regarding the number of transfers allowed for this account...i just read the fine print on their website...It appears that although they will allow you do to the maximum of 6 federally allowed outgoing transfers, only the first 3 each month are free...to use the additional 3, you will pay $1 per transfer.....
Wow I'm approved and have an account in less than 24 hours. Still have to wait for the two small deposits before I can transfer money but not bad. It was an easy process. It was a little weird, I seemed to have enter in a few different passwords, pins, and secret questions, in several different pages with different URL's. I got a little scared it was a phishing attempt at one point. Once setup it seems pretty a pretty simple interface.
antidand
New Member
posted: Nov. 14, 2008 @ 11:41a
I found it easy to get set up and earning interest with Venture Bank Direct. It's great finding an online savings account with such a high APY. I'm looking forward to exploring their other online banking services.
antidand said: I found it easy to get set up and earning interest with Venture Bank Direct. It's great finding an online savings account with such a high APY. I'm looking forward to exploring their other online banking services. Hey antidand, could you ask your colleagues to help make this available on Yodlee? Thanks.
fwbargain
Senior Member
posted: Nov. 17, 2008 @ 9:59p
Does anyone have history of the APY they were giving ? I am not a rate chaser and would want to continue banking with them for some time..Though there are some 4.0 APYs there, it appears these folds are pretty strainghtforward and fast.
Ah so I got this all setup and then saw that outgoing transfers cannot exceed $10,000 in a day. I was worried until I re-read this thread and someone mentioned you can transfer the full amount over the phone. Whew, that would of sucked.
So far I like Venture Bank. The money comes over real quick, although they do put a 5 day hold on the money. It still earns interest in that time but it doesn't show in your available balance. Have yet to have the account for a month so I haven't seen when the interest gets added.
The customer service in the secure online mail area is real good, they've gotten back to me real quick.
pope411 said: Ah so I got this all setup and then saw that outgoing transfers cannot exceed $10,000 in a day. I was worried until I re-read this thread and someone mentioned you can transfer the full amount over the phone. Whew, that would of sucked.You can also pull from the desination account without limit. But remember the 3-withdrawal limit per month, they'll charge $1 for each one over 3.
Thanks for the tip, Glitch, I never think of pulling from the destination. Usually these threads have the routing number in the Quick Summary. Anyone have that handy?
pope411 said: Thanks for the tip, Glitch, I never think of pulling from the destination. Usually these threads have the routing number in the Quick Summary. Anyone have that handy?125107671
BetterInfo
Happy Member
posted: Nov. 28, 2008 @ 10:43a
It appears they lowered the rate to 3.60 now... (Nov 28 2008)
fwbargain said: Does anyone have history of the APY they were giving ? I am not a rate chaser and would want to continue banking with them for some time..Though there are some 4.0 APYs there, it appears these folds are pretty strainghtforward and fast.
mega
Senior Member
posted: Dec. 29, 2008 @ 3:06p
Now 3.50%
wuly2mikee
Member
posted: Jan. 24, 2009 @ 10:21a
BTTT.. now at 3.30%, still in the top tier rate wise though.
Anyone figure how to get your 1099-DIV? I can't for the life of me figure how to get it online when I login and I haven't received one via snail mail either.
mega
Senior Member
posted: Jan. 30, 2009 @ 4:28p
pope411 said: Anyone figure how to get your 1099-DIV? I can't for the life of me figure how to get it online when I login and I haven't received one via snail mail either.
Got mine in the mail today, so I think they're just sending them out.
Thanks for the reply. I just got an email back from them saying they just send them out in the mail, no online version available. They are pretty responsive to email.
aptvictoria
Senior Member
posted: Feb. 1, 2009 @ 1:05p
wuly2mikee said: BTTT.. now at 3.30%, still in the top tier rate wise though.
Any others have experience with this bank.
Don't overlook their checking account at 3.50%.
mega
Senior Member
posted: Feb. 5, 2009 @ 5:42p
Oh no...2.48% Keep moving, folks, nothing more to see here...
Oh man that sucks. I just opened up a 2nd account here to move other money over here from HSBC. Rats! Anyone know where they will move their money?
BetterInfo
Happy Member
posted: Feb. 6, 2009 @ 10:54a
Thats it...byebye
aptvictoria
Senior Member
posted: Feb. 6, 2009 @ 12:01p
pope411 said: Oh man that sucks. I just opened up a 2nd account here to move other money over here from HSBC. Rats! Anyone know where they will move their money?
The VentureBankDirect checking account is still 3.50% (maximum of $25K?). I take it you didn't open a checking account when you opened the savings.
pope411 said: Oh man that sucks. I just opened up a 2nd account here to move other money over here from HSBC. Rats! Anyone know where they will move their money?
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