Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 10-05-2019, 07:02 AM   #681
Recycles dryer sheets
 
Join Date: Oct 2018
Location: Marlborough
Posts: 63
Quote:
Originally Posted by njhowie View Post
I like how Ally has implemented their website and makes it extremely easy to do everything in comparison to others I've dealt with over the years. Ally's savings rate is currently 1.9% so it's still making something.

Also, that 2.52% savings rate at Vio is now 2.42%
https://www.viobank.com/online-savings-account
Yep - I didn't check the rate this morning, but I got in on this offer not too long ago. So far I've been happy with Vio's customer service with no problems whatsoever, and the last I checked they offered the highest rate available on savings accounts.
__________________

Timeisprecious is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 10-05-2019, 08:04 AM   #682
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
calmloki's Avatar
 
Join Date: Jan 2007
Location: Independence
Posts: 6,063
Yesterday some Navy certificates matured. Plan was to stick them in the GTE account I'd opened, but Navy had 5 year certs at the same 3% as GTE's 5 year. Given the recent GTE drama there was no good reason to move from Navy. I'd kicked the can down the road and have a number of short term certificate/savings things maturing in the next couple months, so do appreciate having the GTE as a backup account, just no advantage in using it yet.
__________________

__________________
"Be kind whenever possible. It is always possible." Dalai Lama
calmloki is offline   Reply With Quote
Old 10-05-2019, 11:57 AM   #683
Full time employment: Posting here.
 
Join Date: Dec 2006
Posts: 577
Quote:
Originally Posted by Golden sunsets View Post
I am in the process of opening a CD at PSECU. 3 year 3.25%. NCUA insured. Membership, if one does not meet the local eligibility criteria, is a one time $10 fee to join a local Parks and Recreation entity. The CU is rated A.

The only thing I've run into so far that is a bit inconvenient, is one can only get the funds into the CU via wire or snail mail. ACH's are limited to $1,500. When the CD matures, one can retrieve the funds via wire for $10, or snail mail check.
Interesting. Pennsylvania credit union. On their website now. Sat. So cannot call them for details.

1. Noticed on their website. They belong to the "ATM collective network".
Allows access to withdrawal and "depository" ATMs.

2. I think I remember a poster saying, you could open a CD, make your
deposit at your local CU ATM. Avoid snail mail and wire.

3. When you called them. Will they "hold" the special 3.25% rate, while
your $ deposit is in the mail?

4. Also, I read this on their website:

If you withdraw money early from a 3 to 24 month certificate, you’ll lose 90 days’ worth of earnings on the principal amount you withdraw, whether or not the certificate has earned an initial dividend. If you withdraw money early from a 36 to 60 month certificate, you’ll lose 180 days’ worth of earnings on the withdrawn principal amount, whether or not the certificate has earned an initial dividend. Penalties are deducted from the certificate value and calculated at the certificate’s annual dividend rate.

5. Need clarification. Sounds like you cannot withdraw the "interest" earned
on your CD's. Without incurring the EWP.

If you have an update, will be appreciated.
wolf is offline   Reply With Quote
Old 10-05-2019, 08:04 PM   #684
Thinks s/he gets paid by the post
Golden sunsets's Avatar
 
Join Date: Jun 2013
Posts: 1,360
Wolf; I completed the app yesterday. I was approved today. I intend to wire money in on Monday and open the CD on Tuesday. I will check with them to make sure the rate has not changed and ask the question about what would happen if they changed the rate overnight while funds are in transit. Their membership and new accounts departments have been very helpful.

Regarding your points 3 and 4, I assume they would invade principle if you hadn't had funds on deposit for the length of the early withdrawal period. Is that not the way most institutions work?

On point 5, I honestly did not review the withdrawal of interest issue, as we don't routinely withdraw interest.
__________________
"Luck favors the prepared mind"
Pasteur
Golden sunsets is offline   Reply With Quote
Old 10-07-2019, 12:11 PM   #685
Recycles dryer sheets
 
Join Date: Jan 2019
Location: Sunny California
Posts: 84
This post may be of interest to anyone that moved their IRA to Achieva last year when they had the 4.12% APY, they have reduced the excess share insurance amount.
https://www.depositaccounts.com/bank...tml#promo39132
RetiredAndLovingIt is offline   Reply With Quote
Old 10-08-2019, 11:38 AM   #686
Thinks s/he gets paid by the post
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 4,438
On withdrawal of interest it says.....
“If you withdraw money early from a 3 to 24 month certificate, you’ll lose 90 days’ worth of earnings on the principal amount you withdraw, whether or not the certificate has earned an initial dividend. “

I read that as the EWP calculation is based on the amount of principal so if you withdraw interest only the EWP wools be 0.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
jazz4cash is offline   Reply With Quote
Old 10-08-2019, 11:51 AM   #687
Thinks s/he gets paid by the post
Golden sunsets's Avatar
 
Join Date: Jun 2013
Posts: 1,360
Quote:
Originally Posted by wolf View Post
Interesting. Pennsylvania credit union. On their website now. Sat. So cannot call them for details.


5. Need clarification. Sounds like you cannot withdraw the "interest" earned
on your CD's. Without incurring the EWP.

If you have an update, will be appreciated.
Opened the CD this morning at PSECU. There is an option for withdrawing the interest monthly, either by transferring automatically to your share account, or receiving a check in the mail. And they will allow ACH's up to $1,500 so if one wanted to, one could transfer from the share account to their account at another institution. Also funds wired by Ally showed up the same day as date of transfer out of Ally.


Now our previous certificates all invested in short term higher rates, have finally been deployed into our long term goal of a 5 year ladder with an average yield of 3.24%
__________________
"Luck favors the prepared mind"
Pasteur
Golden sunsets is offline   Reply With Quote
Old 10-09-2019, 05:34 PM   #688
Thinks s/he gets paid by the post
 
Join Date: Mar 2012
Posts: 1,028
Just received from Ally...

Quote:
njhowie, the Annual Percentage Yield (APY) on your Online Savings Account will be moving from 1.90% to 1.80% on all balance tiers. Your new APY is effective 10/10/2019 and will show online in your account details on 10/11/2019.
njhowie is offline   Reply With Quote
Old 10-09-2019, 05:42 PM   #689
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: Tampa
Posts: 4,392
Quote:
Originally Posted by njhowie View Post
Just received from Ally...
Just great.
__________________
TGIM
Dtail is offline   Reply With Quote
Old 10-11-2019, 06:40 PM   #690
Recycles dryer sheets
Henry Lili's Avatar
 
Join Date: Oct 2009
Posts: 175
Quote:
Originally Posted by Dtail View Post
Just great.
If you're looking to park cash for 2-3 years, many Credit Unions have better rates on CDs. Been the case for a long time. Not so good on MM/Savings. Best bet for me has been small/mid size local banks.
Henry Lili is offline   Reply With Quote
Old 10-12-2019, 02:54 AM   #691
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: Tampa
Posts: 4,392
Quote:
Originally Posted by Henry Lili View Post
If you're looking to park cash for 2-3 years, many Credit Unions have better rates on CDs. Been the case for a long time. Not so good on MM/Savings. Best bet for me has been small/mid size local banks.
Yes been doing that too with 5 year GTE CD's, but need to stay more liquid with some monies for living expenses for taxable for ACA management.
__________________
TGIM
Dtail is offline   Reply With Quote
Old 10-15-2019, 07:35 PM   #692
Thinks s/he gets paid by the post
Free To Canoe's Avatar
 
Join Date: May 2008
Location: Cooksburg,PA
Posts: 1,794
Quote:
Originally Posted by Golden sunsets View Post
I am in the process of opening a CD at PSECU. 3 year 3.25%. NCUA insured. Membership, if one does not meet the local eligibility criteria, is a one time $10 fee to join a local Parks and Recreation entity. The CU is rated A.

The only thing I've run into so far that is a bit inconvenient, is one can only get the funds into the CU via wire or snail mail. ACH's are limited to $1,500. When the CD matures, one can retrieve the funds via wire for $10, or snail mail check.
This is why I love the posters at ER. I have been looking for a good credit union near me and now I found it. This one fits the bill. Me and DW are naturally eligible and they have a brick and mortar presence nearby, too.
__________________
Free to canoe
Free To Canoe is offline   Reply With Quote
Old 10-16-2019, 04:27 AM   #693
Thinks s/he gets paid by the post
Golden sunsets's Avatar
 
Join Date: Jun 2013
Posts: 1,360
Quote:
Originally Posted by Free To Canoe View Post
This is why I love the posters at ER. I have been looking for a good credit union near me and now I found it. This one fits the bill. Me and DW are naturally eligible and they have a brick and mortar presence nearby, too.

Great. Glad you've found a good fit. They change CD rates only on Mondays, so if you plan on opening a CD, you may want to keep that in mind.


Sent from my iPad using Early Retirement Forum
__________________
"Luck favors the prepared mind"
Pasteur
Golden sunsets is offline   Reply With Quote
Old 10-16-2019, 05:30 AM   #694
Thinks s/he gets paid by the post
 
Join Date: Feb 2014
Posts: 1,447
These CU places usually have very restrictive ACH policies. The way around them is to initiate the transfer from the outside, this seems to fix the problem, and no need for wires.
jim584672 is offline   Reply With Quote
Old 10-16-2019, 07:04 AM   #695
Recycles dryer sheets
rpguy4's Avatar
 
Join Date: May 2015
Posts: 78
Received this offer from Chase.com. When you open both a Chase Checking and Chase Savings account, receive $600. The gotcha for us is that I may not qualify for the Chase Checking incentive due to NOT having a qualified direct deposit.



To get the full $600 you need a $15K deposit in the savings accounts, and $1500 deposit in the checking account. The accounts have to be open for 6 months.


Appears to be a good deal, if you compare it to an internet bank or a 6 month CD somewhere. But is it worth the hassle ? (Important to read/reread the requirements)



https://accounts.chase.com/consumer/...sehome_3/trip1
rpguy4 is offline   Reply With Quote
Old 10-16-2019, 09:02 AM   #696
Thinks s/he gets paid by the post
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 4,438
Quote:
Originally Posted by rpguy4 View Post
Received this offer from Chase.com. When you open both a Chase Checking and Chase Savings account, receive $600. The gotcha for us is that I may not qualify for the Chase Checking incentive due to NOT having a qualified direct deposit.



To get the full $600 you need a $15K deposit in the savings accounts, and $1500 deposit in the checking account. The accounts have to be open for 6 months.


Appears to be a good deal, if you compare it to an internet bank or a 6 month CD somewhere. But is it worth the hassle ? (Important to read/reread the requirements)



https://accounts.chase.com/consumer/...sehome_3/trip1

Great deal. Looks like you can maintain (fairly low) minimums in each account r
In lieu if direct deposit.

Chase is weird around here. There’s a few branches but they’re more focused on business banking.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
jazz4cash is offline   Reply With Quote
Old 10-16-2019, 10:06 AM   #697
Recycles dryer sheets
 
Join Date: Apr 2015
Posts: 204
Those same Chase deal's have been around for years. Nothing new and of course the direct deposit is the big issue. The typical on-again, off-again Ally and Capital One cash back deal's are always a much better way to go.
Drake3287 is offline   Reply With Quote
Old 10-16-2019, 11:14 AM   #698
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 23,089
Quote:
Originally Posted by rpguy4 View Post
Received this offer from Chase.com. When you open both a Chase Checking and Chase Savings account, receive $600. The gotcha for us is that I may not qualify for the Chase Checking incentive due to NOT having a qualified direct deposit....
While I'm not interested, I'm just wondering.... would an automated monthly transfer from one you your other accounts qualify as a direct deposit? So I set up and automated transfer of $1,500 on the 1st of each month from one of my other accounts... and then every 6 months get online and reverse it by transferring $9k from the Chase account back to the regular account... rinse and repeat.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.

Retired Jan 2012 at age 56...60/35/5 AA
pb4uski is online now   Reply With Quote
Old 10-16-2019, 01:06 PM   #699
Recycles dryer sheets
rpguy4's Avatar
 
Join Date: May 2015
Posts: 78
I did ask Chase the question if I could use perhaps my Fidelity Brokerage or Roth account for the source of the direct deposit. The response was no, unfortunately those do not qualify. According to the terms for the direct deposit - needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. Oh well. Maybe someone else can benefit.
rpguy4 is offline   Reply With Quote
Old 10-16-2019, 05:28 PM   #700
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: Tampa
Posts: 4,392
What about this Chase offer? Perhaps this was mentioned already.
https://accounts.chase.com/consumer/...apphirebanking
__________________

__________________
TGIM
Dtail is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Best CD & MM Rates Thread 2018 Archive ShokWaveRider FIRE and Money 820 01-21-2019 02:26 PM
When you put 2019 as your retirement year, does Firecalc assume January 1st, 2019 ? cyber888 FIRECalc support 12 09-26-2018 09:46 AM
Noticed more people holding signs "need work or food" rayinpenn Other topics 3 05-03-2015 02:51 PM

» Quick Links

 
All times are GMT -6. The time now is 11:23 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
×