Best CD & MM Rates Thread 2019 - Please post updates here

[stepford]

Money going to Simple - $250 for $10k or $500 for $20k, money just has to sit there for 10 weeks. Open account now with $0, fund by 11/15.

https://www.simple.com/offer-v2

I tried to get in on this. After the whole application process - including some unusually invasive ID requirements (photocopy of one's driver's license) - my application was rejected without reason. If I didn't know simple.com was a legitimate bank I'd have the creepy feeling it was nothing but a scam to get my personal ID information.

Yes a good deal financially, but I was left with a very bad feeling about simple.com

 

[njhowie]

I tried to get in on this. After the whole application process - including some unusually invasive ID requirements (photocopy of one's driver's license) - my application was rejected without reason. If I didn't know simple.com was a legitimate bank I'd have the creepy feeling it was nothing but a scam to get my personal ID information.

Yes a good deal financially, but I was left with a very bad feeling about simple.com

Interesting - I was able to set up accounts for two folks in my household in about 5 minutes - no id required at all. No application process or anything - it was 2 screens with very basic ("Simple" ) information. In fact, if anything, it was significantly less than others I've done require. I didn't even have to provide a drivers license or passport number - SS# was enough. Didn't require uploading of any copies of any id - though I have had to upload a scan of drivers license or passport for a few others in the past. Didn't ask for place of employment, just field of occupation (or retired). Didn't ask for annual income.

After my accounts were set up, I then fired off a question to support to make sure I fully understood the offer and a question I had. I received a response the next morning. I set up links to Marcus instantly, submitted minimal transfers to verify it works, then set up my big transfer for Nov 12 - one day after the requirement for the Marcus bonus and guaranteed to post to Simple one day before their Nov 15 deadline.

Simple is partnered with BBVA USA, which is a bank that's been around for over 50 years. Its parent company is BBVA which is a larger multi-national institution that's been around over 150 years. Certainly not a shady operation. https://www.simple.com/company/simple-bbva-compass-we-re-moving

From Wikipedia:

In 2014, BBVA acquired the US digital banking company Simple for 117 million dollars. In its push towards a digital future in 2015 acquired the California company Spring Studio, specializing in user experience and digital design.

As of 2018, BBVA USA is one of the 30 largest banks in the US

Sorry it didn't work out for you.

 

[jim584672]

I tried to get in on this. After the whole application process - including some unusually invasive ID requirements (photocopy of one's driver's license) - my application was rejected without reason. If I didn't know simple.com was a legitimate bank I'd have the creepy feeling it was nothing but a scam to get my personal ID information.

Yes a good deal financially, but I was left with a very bad feeling about simple.com

I tried and uploaded my driver's license and they wanted a selfie. What kind of bank needs a selfie? Then they said the images are too small, three days later. Then I upload new images and a passport card, and they say it requires a manual review, so still waiting. I think I'm passing on this bank, seems very sketchy and don't trust them.

 

[dvalley]

Interesting, I was able to open a Simple account in 5 mins (no ID etc was required) like njhowie too. I then got the routing/account nos and set it up on the vanguard site as one of my banks. Vanguard verified it with two small deposits. So I'm all set at this point, waiting for the second week of Nov to do the transfer of $20k. So far so good.

Thanks njhowie for posting this, I think you turned me on to the Discover Bank deal too last year which was a good experience too.

 

[dvalley]

I have a question about fulfilling the direct deposit requirement.

I got a 'personalized' offer from Wells Fargo with the fine print attached. If I read it correctly as long as it's an ACH transfer I should qualify? If so, I'm thinking I can setup a recurring transfer from Vanguard (never done this before) and I should be OK? I think those transfers are ACH?

Second question, I used to have an account with WF but I'm pretty sure it was a couple of years ago. Is there a way to check? perhaps via a free credit report?

 

[LRDave]

I am keeping an eye on this thread relative to the simple.com offer. Two easy-peasy experiences and two sketchy experiences above with very different documentation requirements. Wonder what's going on?

 

[njhowie]

I have a question about fulfilling the direct deposit requirement.

I got a 'personalized' offer from Wells Fargo with the fine print attached. If I read it correctly as long as it's an ACH transfer I should qualify? If so, I'm thinking I can setup a recurring transfer from Vanguard (never done this before) and I should be OK? I think those transfers are ACH?

It varies from one bank to another. Some allow ACH for the direct deposit requirement, others do not...depending what bank/institution it came from. Check this list for best chance of success:

https://www.hustlermoneyblog.com/what-banks-count-as-direct-deposits/

This is a bigger list:
https://www.doctorofcredit.com/knowledge-base/list-methods-banks-count-direct-deposits

I didn't see WF from Vanguard in either of them.

 

[njhowie]

I am keeping an eye on this thread relative to the simple.com offer. Two easy-peasy experiences and two sketchy experiences above with very different documentation requirements. Wonder what's going on?

Well, if you or anyone else is considering doing it, the deadline for opening the account is 10/31 - so I would suggest merely opening the account in the next couple days, which does not require any opening deposit, no linkage to other bank account, etc. Should you decide to go ahead with the offer, 11/15 is the deposit deadline.

Moderators - maybe we need a new thread for Bank Bonus Offers to pull it out of here?

 

[Dtail]

I am keeping an eye on this thread relative to the simple.com offer. Two easy-peasy experiences and two sketchy experiences above with very different documentation requirements. Wonder what's going on?

Same thoughts here, but like @njhowie stated, just can open the account by 10/31 and go from there.
Perhaps the easiness/difficulty of just opening the account could be a sign of sorts.

 

[njhowie]

Also, one point which has not been stated with regard to the simple.com offer - the savings account rate is 2.15% for amounts over $10,000. Under $10,000 the rate is 2.02%. These are very competitive now with the majors all falling below 2%.

 

[mn54]

for the simple offer you first put the money in the simple account for 10 weeks at basically 0% interest ( except for the bonus). you then have to remember to transfer the money into their other accounts to get the 2+% interest rate. they are hoping you forget to do that.

 

[Dtail]

for the simple offer you first put the money in the simple account for 10 weeks at basically 0% interest ( except for the bonus). you then have to remember to transfer the money into their other accounts to get the 2+% interest rate. they are hoping you forget to do that.

I would say that they would be happy if you don't take back all the money after the promotion.
They would "settle" for paying you the 2%+.

 

[njhowie]

for the simple offer you first put the money in the simple account for 10 weeks at basically 0% interest ( except for the bonus). you then have to remember to transfer the money into their other accounts to get the 2+% interest rate. they are hoping you forget to do that.

This is very inaccurate. However, even if you were to get 0% for 10 weeks, would it really bother you if you received a bonus that was 10+% APY?

In fact, they advise you to open the savings ("Protected Goal") immediately and to move the money into it right away so you do get the 2.X% interest rate. The offer is for combined balances between the simple account and the other account. It indicates this on the offer page.

This was specifically what I questioned them about and they confirmed:

Thanks for reaching out about this. You are correct. You just need to have either $10,000 or $20,000 in your account from 11/15 to 1/31 to receive the $250/$500 bonus. The funds can be in either account, but I do recommend that you have them in the Protected Goal so you can earn 2.15% interest on the funds that will be sitting there for the next few months.

You don't need to wait to transfer the funds into your Protected Goal. As soon as they hit your Safe-to-Spend, you can transfer them over immediately. Let me know if you have any other questions.

Final Note: I'm done defending this offer. Folks who would like to poke holes in it, or trash it for any reason they desire are free to do so. I apologize for taking up space on this thread with it.

 

[Montecfo]

This is very inaccurate. However, even if you were to get 0% for 10 weeks, would it really bother you if you received a bonus that was 10+% APY?

In fact, they advise you to open the savings ("Protected Goal") immediately and to move the money into it right away so you do get the 2.X% interest rate. The offer is for combined balances between the simple account and the other account. It indicates this on the offer page.

This was specifically what I questioned them about and they confirmed:





Final Note: I'm done defending this offer. Folks who would like to poke holes in it, or trash it for any reason they desire are free to do so. I apologize for taking up space on this thread with it.

NJHowie,

Thanks for all the great legwork. I do appreciate it. I am going to set up the account.

 

[Montecfo]

I just tried to sign up and they denied me for unspecified reasons. Oh well.

 

[calmloki]

This is very inaccurate. However, even if you were to get 0% for 10 weeks, would it really bother you if you received a bonus that was 10+% APY?

In fact, they advise you to open the savings ("Protected Goal") immediately and to move the money into it right away so you do get the 2.X% interest rate. The offer is for combined balances between the simple account and the other account. It indicates this on the offer page.

This was specifically what I questioned them about and they confirmed:





Final Note: I'm done defending this offer. Folks who would like to poke holes in it, or trash it for any reason they desire are free to do so. I apologize for taking up space on this thread with it.

Read just what you read and understand it the same way. Tried to sign up for two accounts for Gal and I (our Marcus accounts mature 11/2). Unfortunately after entering our data I just got a spinning progress dial till it kicked back to our signup screens. Guess I'll give them a call on Monday - lo and behold, they are based in Portland Oregon!

 

[ShokWaveRider]

Trying to get back on track.

PSECU (PA) 36-Month CD Earns 3.25% APY

https://www.psecu.com/

 

[Golden sunsets]

This is very inaccurate. However, even if you were to get 0% for 10 weeks, would it really bother you if you received a bonus that was 10+% APY?

In fact, they advise you to open the savings ("Protected Goal") immediately and to move the money into it right away so you do get the 2.X% interest rate. The offer is for combined balances between the simple account and the other account. It indicates this on the offer page.

This was specifically what I questioned them about and they confirmed:





Final Note: I'm done defending this offer. Folks who would like to poke holes in it, or trash it for any reason they desire are free to do so. I apologize for taking up space on this thread with it.

NJHOWIE; Thanks for bringing up this offer. I just opened two accounts for DH and I very easily. Almost too easily, although I'm not complaining. So far they haven't checked our credit, which is frozen. Every other account I've opened recently has been held until I lifted the credit freeze.

 

[dvalley]

It varies from one bank to another. Some allow ACH for the direct deposit requirement, others do not...depending what bank/institution it came from. Check this list for best chance of success:

https://www.hustlermoneyblog.com/what-banks-count-as-direct-deposits/

This is a bigger list:
https://www.doctorofcredit.com/knowledge-base/list-methods-banks-count-direct-deposits

I didn't see WF from Vanguard in either of them.

Thanks!! Please don't feel you have to defend any offers you post, they've been helpful to me and many others. Even those who post questions are just trying to make sure they're not missing anything or in some cases their experience was different than others. In no way that reflects on anyone who alerts us of the deals and also helps us get around some of the qualifying requirements. It's much appreciated!

 

[mrfeh]

Trying to get back on track.

PSECU (PA) 36-Month CD Earns 3.25% APY

https://www.psecu.com/

I'm attempting to purchase some CDs from them...

Has anybody found a way around the miniscule monthly transfer limit of $6K?

 

[Golden sunsets]

I'm attempting to purchase some CDs from them...

Has anybody found a way around the miniscule monthly transfer limit of $6K?

To open the CD I wired the funds in from Ally. On a positive note, the funds showed up in the PSECU account the same day as the wire out. Another solution is snail mail. Someone else suggested pushing the funds from the outside bank. I don't know however if this would work.

 

[ShokWaveRider]

I'm attempting to purchase some CDs from them...

Has anybody found a way around the miniscule monthly transfer limit of $6K?

Most CUs that an OUTGOING Limit of $FairlyLow. I wired my last $250k as I am over 60 my CU does not charge for wires.

We are members of 4 Credit Unions, and NONE limit incoming ACH transfers.

 

[mrfeh]

Most CUs that an OUTGOING Limit of $FairlyLow. I wired my last $250k as I am over 60 my CU does not charge for wires.

We are members of 4 Credit Unions, and NONE limit incoming ACH transfers.

PSECU limits incoming transfers to $6K per month and $1500 per transfer.

 

[Henry Lili]

PSECU limits incoming transfers to $6K per month and $1500 per transfer.

I funded a PSECU account via snail mail. They put a hold on the cash so had to call to actually open the CD.

 

[mrfeh]

I funded a PSECU account via snail mail. They put a hold on the cash so had to call to actually open the CD.

Just to be clear - those limits are when PSECU pulls the money. I'm gonna set up a push from the other bank.