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Originally Posted by ShokWaveRider
Corus Bank is still offering 4.10 for 1 year. Do not know about the penalty for early withdrawall. Why would and ER want to do that anyway?
SWR
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Assuming your reference to a "penalty" refers to my post, there are lots of reasons. In the case of the Amcore account I mentioned, it is not a CD.
You can take money out any time with some restrictions. Anyway, let's say in 3 months you can get 4% liquid elsewhere. If I have 100K in the account,
it would pay to close it, pay the penalty and move the money. When I am "flipping" CC
money, the penalty is just one cost I need to factor in to make sure I
am maxing my "spread".
JG
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