Schwab is pushing a new 4.25% APY "investor checking" account.
It is pretty tempting and I'm wondering about a couple things ...
1. I wonder if this is bait&switch and they'll revert to a more
typical sub-1% rate once they get a bunch of people in ?
2. I wonder if hometown banks (like my current one) will
be forced to offer competitive rates soon ?
It'll be a fairly major pain to change, since I'll have to change
numerous bill-pay auto-drafts and a couple of auto-deposits,
but potentially worth hundreds of dollars per year, depending
upon how large a chunk of cash a retiree moves from portfolio
into checking account at one time.
It is pretty tempting and I'm wondering about a couple things ...
1. I wonder if this is bait&switch and they'll revert to a more
typical sub-1% rate once they get a bunch of people in ?
2. I wonder if hometown banks (like my current one) will
be forced to offer competitive rates soon ?
It'll be a fairly major pain to change, since I'll have to change
numerous bill-pay auto-drafts and a couple of auto-deposits,
but potentially worth hundreds of dollars per year, depending
upon how large a chunk of cash a retiree moves from portfolio
into checking account at one time.