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Old 03-13-2013, 12:34 PM   #121
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You can't just send the add'l $5K (or difference or whatever) with your tax return?
I don't know. I was under the impression it would be taken out of your refund, and as far as I know the 1040 doesn't have a way for you to add money for a refund.

But I bet someone here has tried it?
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Old 03-13-2013, 03:47 PM   #122
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Originally Posted by JOHNNIE36 View Post
I do this frequently but learned the hard way with Band of America because they charge a fee to transfer funds. So, the way out of this is to request the transfer through ALLY. So when I want to transfer funds from BOA to ALLY, I ask ALLY to request the funds from BOA. No fee. Also, I have noticed that funds requested by ALLY from BOA only take two days as opposed to three days. Maybe not guaranteed, but common.

No matter which banks, the whole trick is to initiate the transaction from the bank that is going to be RECEIVING the funds. You NEVER get hit with a fee when you are putting money into an account.

FYI, I've got my "standby" cash at Ally, SallieMae and Barclays. They all pay 0.85% or better.

Cheers...

Alex in Virginia
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Old 03-14-2013, 07:40 AM   #123
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Got a flyer in the mail today for a 12 month CD @2.65%. What? This company is named First Financial Group and is subtitled "The Original CD Locator and Financial Service Co". States all accounts are FDIC insured. I think the disclaimer of interest is "Yield and deposit amount subject to availability". It was too late to call today but I certainly will tomorrow, but probably closed on Saturday.
I see a similar ad each week in our local newspaper. It's very tempting because they offer 3.25%. However, I vaguely recall hearing that first you're invited to meet and they try to convince you to buy or invest in some of their insurance products. My suspicious mind says that if you don't 'invest' with them they can decline this 'sweet' CD...This set-up resonates with time-share sales pitches, but at least you get your 'free' dinner or show afterwards.
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Old 03-14-2013, 07:55 AM   #124
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I am doing a 5 year cd with Allied (2 month penalty) at 1.75% I think.
I think last year Ally changed the fine print of their CD's. Not sure where I read the discussion about it. It was either on the Bogleheads or some banking blog. Anyway, the fine print *before* the change said 2-mo. penalty only, but *after* the change has an addition 'withdrawals at our discretion'. I have NOT read the print personally on my new Ally CD, but what people were saying was that when the interest rates start rising and customers start calling Ally to withdraw their CD's, Ally will be able to decline your request 'to break' the CD until the term is up.
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Old 03-14-2013, 08:34 AM   #125
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I think last year Ally changed the fine print of their CD's. Not sure where I read the discussion about it. It was either on the Bogleheads or some banking blog. Anyway, the fine print *before* the change said 2-mo. penalty only, but *after* the change has an addition 'withdrawals at our discretion'. I have NOT read the print personally on my new Ally CD, but what people were saying was that when the interest rates start rising and customers start calling Ally to withdraw their CD's, Ally will be able to decline your request 'to break' the CD until the term is up.
Haven't seen that. It should be discolsed on their site. It still has a 60 day penalty.

Certificates Of Deposit | High Yield CD | Ally Bank
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Old 03-14-2013, 10:23 AM   #126
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Haven't seen that. It should be discolsed on their site. It still has a 60 day penalty.

Certificates Of Deposit | High Yield CD | Ally Bank
I'm aware of this short sentence, but I believe the new addition would be in the CD agreement and I haven't checked out yet maybe because Fed's will not hurry with their monetary/fiscal policy changes anytime soon
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Old 03-14-2013, 10:54 AM   #127
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I'm aware of this short sentence, but I believe the new addition would be in the CD agreement:
OK, perhaps this is what you are referring to, there was change in wording but not policy.

Ally Bank changes words, not policy, on CDs - CBS News
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Old 03-14-2013, 01:29 PM   #128
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OK, perhaps this is what you are referring to, there was change in wording but not policy.

Ally Bank changes words, not policy, on CDs - CBS News
Yep, that's it. Maybe we need to bookmark this page in case they decline to give my cash in 3-4 years or when the rates go up.
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