Need A New Bank

[Jaimecbr900]

This one's for Julio and his wife: you say you will beat any local rate, right? As in APY? Then if I came in and asked you to beat the Advantage Checking rate, you would? This might be the clincher.

There's a caveat to the "matching advertised rates".....it applies to CD's and not checking accts.

BUT, and this is a BIG BUT, if YIELD is what you're looking for......they can meet or beat any advertised local bank's YIELD and you can just get a 30 day CD. I have one of those and it automatically renews every 30 days if I want it.

The yield on a 30 day CD, if all you have is the CD, is 4.88%.
The yield on that same 30 day CD if you have any other acct with them jumps up to 5.16% because you will considered a "loyal" customer.

So you could technically open a small, no fee, checking acct with say....$50 (BTW, they GIVE you $50 for just opening the acct... )....be considered a "loyal" customer....and put the bulk of you money into that 30 day CD and make 5.16% on it. Every 30 days, your money is just as liquid as any checking acct if need be....you don't have to renew it....but if you want a way to get money on something that's acting like a plain ole savings acct, that's the way to go.

The only catch is that the small free checking acct has to have something move thru it every once in a while.....like a direct deposit, online bill pay, etc. It can't just sit there and never get used.

Any questions? Let me know.

[Pebbles]

There's a caveat to the "matching advertised rates".....it applies to CD's and not checking accts.

BUT, and this is a BIG BUT, if YIELD is what you're looking for......they can meet or beat any advertised local bank's YIELD and you can just get a 30 day CD. I have one of those and it automatically renews every 30 days if I want it.

The yield on a 30 day CD, if all you have is the CD, is 4.88%.
The yield on that same 30 day CD if you have any other acct with them jumps up to 5.16% because you will considered a "loyal" customer.

So you could technically open a small, no fee, checking acct with say....$50 (BTW, they GIVE you $50 for just opening the acct... )....be considered a "loyal" customer....and put the bulk of you money into that 30 day CD and make 5.16% on it. Every 30 days, your money is just as liquid as any checking acct if need be....you don't have to renew it....but if you want a way to get money on something that's acting like a plain ole savings acct, that's the way to go.

The only catch is that the small free checking acct has to have something move thru it every once in a while.....like a direct deposit, online bill pay, etc. It can't just sit there and never get used.

Any questions? Let me know.

Good job Jaime!

Also remember if you are part of the loyalty program with the checking account...we will also beat other banks rates. So say for instance another bank is offering 5.60%, I can give you 5.65%. So there for we will always give the higher apy.