$100.00 to open account NO monthly fees NO account minimum balace requirement 2.50% APY on ALL balances(Effective 06/07/2009) ACH push/pull from external accounts only Limited bill payment(3 per month) ATM card option
I am about to sign up for one of these. It will be to park money (<$250k) that I want to be able to access in a pinch but that will most likely sit there for a long time. Can anybody comment how good or bad this bank's service is?
IrishTomBunny
Tired Member
posted: Jul. 7, 2009 @ 9:12p
DogFase said: I am about to sign up for one of these. It will be to park money (<$250k) that I want to be able to access in a pinch but that will most likely sit there for a long time. Can anybody comment how good or bad this bank's service is?
I'm a low maintenance customer, but I've had an account there for years with no problem.
My observation is that I just opened a High Yield Account with them for 2.04% or so. Why is there another kind of account that pays a little bit more?
Seems like needless overkill.
mttatkns
Thrifty Member
posted: Jul. 7, 2009 @ 10:19p
IrishTomBunny said: My observation is that I just opened a High Yield Account with them for 2.04% or so. Why is there another kind of account that pays a little bit more?So they can attract more $$$ without having to pay 2.5% to existing customers who are too lazy to open a new account. Then, they can fund loans at the lowest possible cost and maximize their profit.
Surprisingly, for a bank that is at the top of the best rates sticky thread, there is very little discussion about this bank. Maybe because they don't have outgoing ACH transfers?
Everytime I try to beat Ally (GMAC) for a quarter to 1/2 point I end up coming back. The last time I did it was with shore bank and they held the money for three days without interest. My "payback" after that was 20 days if they kept the same Delta. Ally credits the same or next day and there is never an issue (and usually the withdraw does not hit for a couple of more days).
kgkg
Member
posted: Jul. 21, 2009 @ 1:18p
Can anyone confirm that opening the account does not incur a hard inquiry? Thanks!
I applied and now have to snail mail a copy of my license to CA. This will take at least four days. Just a heads up, I'm off to a crappy start with this bank. I may just stay with Alliant.
Savemeister
Ancient Member
posted: Jul. 28, 2009 @ 6:35p
Rate drop today! 2.50% > 2.25% APY
Well, that did not take long! It would have been nice to keep the rate at least one month.
Was going to open an account with these guys, since my Broadway Federal account went south, interest-wise. Now I'm not so sure; this is a new product and I see that it's down again today to 2.02 APY. This is starting to look like the sharp end of a hook to me.
CanisMajor
Thrifty Member
posted: Aug. 4, 2009 @ 10:16p
Heads up: ACH pushes into this account will be rejected if coded as a savings account ... when setting up transfers to/from this account it has to be classified as a checking account at pushing bank. Initial deposit was in limbo for two days before being returned to origination account due to this fact.
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