Northwest Savings Bank Grand Opening "special" Offer expires 12/05/09
2.25% fixed APY savings account guaranteed through 11/16/10 Personal accounts only Requires checking account--2.00% fixed APY without checking account Member FDIC $100 minimum--$250,000 maximum per account
This may be one of the best rates available in a low minimum, high maximum, 100% liquid, no penalty or fee savings account. It's an old fashioned passbook savings account, with a quaint passbook, just like years ago. I was told this offer is available at the three Rochester, NY branches listed below, but it might be worth calling and asking if they would consider waiving this under the right circumstances. Once opened, the account can be managed online. Once opened, all subsequent deposits will also earn 2.25% guaranteed through 11/16/10.
This is an ideal account for temporarily (or not temporarily) stashing cash proceeds from real estate sales, matured CDs, etc. The bank is very solid, and the offer is on the level. I opened and funded an account today, and would not be surprised if they withdraw this "grand opening" offer early.
If you go to the Greece branch, try and deal with one of the managers. I went in there three times for various reasons, and I got the impression that the tellers at this branch mean well and try hard, but they seem new, not just to the branch but I'm guessing some have never worked in a bank before. If you deal with a non-manager make sure they don't make a mistake with your name, address, etc.
I was probably going to go to the Chili branch. Does this bank have internet banking, ACH transfers, and the like? The mall at Chili is a little out of the way for me, the other two, even worse. Then again, I've been here for years but have never really ventured outside Henrietta/Brighton/Victor.
I was told that I could set up an ACH online. Then again, as mentioned above, the employees at the branch I visited were inexperienced, though well meaning, so it wouldn't surprise me if this has to be setup in person.
dgross
New Member
posted: Oct. 18, 2009 @ 12:33p
I could be mistaken about the branch visit. I have a Northwest account, there is a transfer section, but I don't see any way to set it up.
asb002 said: Zaos said: Is there any reason not to go with the go! checking for the 10k in points? I'm not seeing it, perhaps someone else have.
Other than the points being worth very little there doesn't seem to be any downside. I can deal with that. Any idea when this promo will end? Have not been able to get over there yet.
According to the ad the "Offer expires 11/16/09." Still, I wouldn't put it off too long. They may be locked into that date, but I wouldn't risk early termination of the offer. What this offer is worth to you depends, I suppose, on how much you're thinking about putting into the account.
cga said: According to the ad the "Offer expires 11/16/09." Still, I wouldn't put it off too long. They may be locked into that date, but I wouldn't risk early termination of the offer. What this offer is worth to you depends, I suppose, on how much you're thinking about putting into the account. Thanks, this will be perfect for my wamu, erm Chase CDs maturing soon.
I did. The 2.25% rate is for a savings account, with a passbook. When I opened the account I didn't ask if receiving the passbook is optional. Frankly, I like the idea of a passbook, only because (as long as you always use it) you have further proof of deposits.
cga said: >>>I did not get a passbook for this.<<<
I did. The 2.25% rate is for a savings account, with a passbook. When I opened the account I didn't ask if receiving the passbook is optional. Frankly, I like the idea of a passbook, only because (as long as you always use it) you have further proof of deposits.
I guess she thought I was too young for one then. I do know how they work, but I think account statements will do. Besides, they don't update very often and don't reflect these ACH transactions quickly.
rebateh8tr
Member
posted: Nov. 3, 2009 @ 8:18p
Zaos said: See brochure.
I did not get a passbook for this.
Thank you for posting the brochure. I took it into the Downtown Buffalo branch and they told me the rates were only offered in Rochester. I pressed and the branch manager called the back office and faxed them the brochure. The back office said they had to honor the offer. Wouldn't have happened without the brochure.
An additional bonus is their $100 cash for setting up a direct deposit on the required checking account. Hopefully an ACH transfer into the account will qualify.
Anyone know their fund avaliability policy? I deposited a check over a week ago and they are still holding it. Account has been open for almost a month now.
I think the longest hold a bank can typically place on a standard check is something like five business days for an out of state check. If they're holding your check for longer than that, bring it to their attention. They can also choose to not put a hold on any check, even out of state. Depends on various factors, not the least of which is how much they value your future business. My experience at other banks is they'll bend over backwards to keep you happy...including not holding checks if you bring it to their attention.
turrdog
Thrifty Member
posted: Nov. 21, 2009 @ 9:02a
Just called Webster branch. The promotion has been extended to 12/5. I forgot to ask if that means the rate is good until 12/5/10.
Also, on a related note, this week I received a stock offering for Northwest Savings. The price per share is $10 and payments must be received by 12/3. Reading through the materials it looks like I was eligible because I was a Northwest Savings depositor by 10/26.
I just called the Greece branch, and they confirmed that the offer has, indeed, been extended to 12.05.09. Thanks for bringing it to our attention, turrdog. It's still the best such 'deal' around, as far as I can tell.
cga said: I think the longest hold a bank can typically place on a standard check is something like five business days for an out of state check. If they're holding your check for longer than that, bring it to their attention. They can also choose to not put a hold on any check, even out of state. Depends on various factors, not the least of which is how much they value your future business. My experience at other banks is they'll bend over backwards to keep you happy...including not holding checks if you bring it to their attention. Thank you. It was a local 0223 check after one of my wamu (now chase) CDs matured. Guess I'll be off to their branch monday morning.
Guys, make sure to ask for their funds avaliability policy and other documentation. They gave me a nice folder which I thought it was placed in. Guess not.
turrdog said: Just called Webster branch. The promotion has been extended to 12/5. I forgot to ask if that means the rate is good until 12/5/10.
Also, on a related note, this week I received a stock offering for Northwest Savings. The price per share is $10 and payments must be received by 12/3. Reading through the materials it looks like I was eligible because I was a Northwest Savings depositor by 10/26.
It also called for a vote. I got one as well, and it looks like I have one vote on the issue of the bank going fully public. Wonder if the ipo is worth getting into.
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