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

[ripper1]

Vmmxx

[Rianne]

Is there anyway (in this post) we can post:
CD - MM
Rate
Length of CD
Bank
I often click on this post to see most recent CD rates and term lengths. I often get lengthy discussion and rarely the specific information.
I don't mind the discussion, but would like to see a block where the specific info is stated. Just me, open to discussion.

[Rosie]

Quote:

Originally Posted by Rianne Is there anyway (in this post) we can post: CD - MM Rate Length of CD Bank I often click on this post to see most recent CD rates and term lengths. I often get lengthy discussion and rarely the specific information. I don't mind the discussion, but would like to see a block where the specific info is stated. Just me, open to discussion.

I think posts in this thread have provided the information you desire quite well.

You might also want to look at https://www.depositaccounts.com/blog/ for such information.

[Rianne]

Quote:

Originally Posted by Rosie I think posts in this thread have provided the information you desire quite well. You might also want to look at https://www.depositaccounts.com/blog/ for such information.

Thanks, nice link. I'll bookmark it.

[MJ]

PFCU seems to reversing the trend. Their 5 and 7 year cds dropped again to 3.05%. There are still another of CUs over 3.5% for 5 years. I just locked in 3.63% at Connexus and 3.69% at USSenateFCU both for 5 years.

[Shabby]

Anyone here a Merrill Lynch/BOA customer and using the PVOXX MM at 2.55%? If you are a Merrill Lynch customer, know that they are about to reduce the normal sweep MM accounts interest so you need to switch.

[copyright1997reloaded]

A follow up post on an unexpected issue with PenFed:

So, I had a CD mature yesterday (1/31) which was set up with an automatic ACH to another institution. I ACH funds to this same institution frequently from my Ameritrade account, and it is always completed overnight.

The funds show debited from my PenFed account as of yesterday, but are no where to be found on the target institution. So, I call them (the target), and they check w/the back office and no inbound ACH is to be found. I then call PenFed, am put on hold to investigate it, and about 5 minutes later the call is dropped. I then call back and the rep this time (instead of saying she was going to investigate it) tells me it can take 3-5 business days for the ACH to process. I then talk to a supervisor, who tells me yes, it might take 3 business days for the target institution to receive the funds, and then goes on to discuss that is why they might put a hold on it (as ACH's can be reversed).

I then explain that the target isn't putting a hold on, they haven't gotten anything in their ACH inbounds at all. The supervisor then insists that it can take 3 business days. I give up, other than to tell her that PenFed isn't going in a good direction as an institution to do business with.

As an aside, the National Automated Clearing House rules for ACH processing state that credit operations must settle in one or two business days, and debits in one business day. I'm looking forward to expanded same day ACH requirements, which are supposed to happen sometime in 2020 I think.

[braumeister]

Quote:

Originally Posted by copyright1997reloaded So, I had a CD mature yesterday (1/31) which was set up with an automatic ACH to another institution.

Nothing unusual.
PenFed has long been notorious for slow transfer of money out to other institutions.

You probably would have been better off letting the CD mature into a PenFed account, and initiating the transfer from the other institution.

[jazz4cash]

NASA FCU

Deal Summary: Share Certificate Specials – 15-month (3.20% APY), 25-month (3.25% APY), 49-month (3.35% APY), minimum deposit of $10k of new money.

I think they had the 15 month special awhile ago and it expired. Now it is back. I recall recently someone here wishing for a 2 yr 3% CD....well here it is. Available as taxable or IRA CD

[copyright1997reloaded]

Quote:

Originally Posted by braumeister Nothing unusual. PenFed has long been notorious for slow transfer of money out to other institutions. You probably would have been better off letting the CD mature into a PenFed account, and initiating the transfer from the other institution.

In hindsight, you are absolutely correct.

[copyright1997reloaded]

Quote:

Originally Posted by jazz4cash NASA FCU Deal Summary: Share Certificate Specials – 15-month (3.20% APY), 25-month (3.25% APY), 49-month (3.35% APY), minimum deposit of $10k of new money. I think they had the 15 month special awhile ago and it expired. Now it is back. I recall recently someone here wishing for a 2 yr 3% CD....well here it is. Available as taxable or IRA CD

It was offered late August/early September 2018 time frame. I have a couple CD's there, one is dated with a 9/3/2018 opening date at 3.20% rate (15 month CD).

Given where we are with rates, I might move the PenFed matured money there, assuming I actually get it in time to do so.

[sheehs1]

Quote:

Originally Posted by copyright1997reloaded In hindsight, you are absolutely correct.

Yes and was my experience as well.
Except after the slow posting of the first ACH transfer of interest earned on the principle of my 4 CD's, I called PenFed. Very helpful customer service person on the other end.

They wired the rest of that interest and it posted overnight. The charge from PenFed is $20 for a wire. Receiving bank charged me $15.00 to accept it. There was no charge for the ACH...but!!

Otherwise it would have taken me a month to ACH the interest that had been earned as they have a $5,000 limit per ACH transfer as well as limiting our ability to do more than one transfer in a certain time period. Have now forgotten that time frame but I think it was enough days that I calculated I could only do an ACH transfer about once a week.

So while the regs for ACH may change, I wonder if PenFed will change their ACH dollar limit per transfer or the number of transfers you can do in a 24 or 48 hour or some other time period.

[copyright1997reloaded]

To make the PenFed saga even more amusing, the money just showed up this evening in the target institution. Of course, too late for me to open a NASA FCU 15 month CD today.

[Debinnov a]

Quote:

Originally Posted by Shabby Anyone here a Merrill Lynch/BOA customer and using the PVOXX MM at 2.55%? If you are a Merrill Lynch customer, know that they are about to reduce the normal sweep MM accounts interest so you need to switch.

Which type of account is that? I have money in Preferred Deposit at Merrill Edge. So probably not the same.

Sent from my KFTHWA using Tapatalk HD

[Golden sunsets]

Quote:

Originally Posted by jazz4cash NASA FCU Deal Summary: Share Certificate Specials – 15-month (3.20% APY), 25-month (3.25% APY), 49-month (3.35% APY), minimum deposit of $10k of new money. I think they had the 15 month special awhile ago and it expired. Now it is back. I recall recently someone here wishing for a 2 yr 3% CD....well here it is. Available as taxable or IRA CD

Yes I was. And we have an account with NASA with their 17 mo 3.25% set up last fall. This is exactly what I was looking for. Thanks.

[njhowie]

Ally folks - keep in mind that the 2.85% 14-month CD is still available through the end of February.

[simple girl]

Quote:

Originally Posted by jazz4cash NASA FCU Deal Summary: Share Certificate Specials – 15-month (3.20% APY), 25-month (3.25% APY), 49-month (3.35% APY), minimum deposit of $10k of new money. I think they had the 15 month special awhile ago and it expired. Now it is back. I recall recently someone here wishing for a 2 yr 3% CD....well here it is. Available as taxable or IRA CD

Sweet! I jumped on their 3.25% special last time - so happy I have a no-penalty CD at Ally that I can swoop into this! Thanks for the heads up!

[John Galt III]

Quote:

Originally Posted by MJ PFCU seems to reversing the trend. Their 5 and 7 year cds dropped again to 3.05%. There are still another of CUs over 3.5% for 5 years. I just locked in 3.63% at Connexus and 3.69% at USSenateFCU both for 5 years.

Wow, glad I got in a few weeks ago for the 3.5%. On the subject of CS reps: my other credit union, that I was transferring money from, caused me a headache by not informing me of the 6 transactions per month rule, even though I specifically asked about any limits on ACH transfers, from checking or savings. They hit me up for 7 penalties of $25 each. Luckily I have a 'person' at that credit union who knows what she is doing, who reversed the penalties for me, thank God. I was using the generic 'whoever answers' cs reps, since I don't like to bother my 'person' there, who isn't actually a cs rep, but a manager of some sort. I hate to call her directly for these things, but the other reps seems so clueless. Rant over.

[WWDog]

Anyone heard of a Texas annuity? My tax man mentioned it as a way to protect your money from law suits and confiscation of any kind. I'm not a fan of annuities in general. I understand that Florida has the same kind of deal.

[jazz4cash]

Not sure how that question pertains to this thread.