Join Early Retirement Today
Closed Thread
 
Thread Tools Search this Thread Display Modes
Old 05-12-2020, 05:15 AM   #421
Thinks s/he gets paid by the post
Helen's Avatar
 
Join Date: Oct 2004
Location: Portland
Posts: 1,741
Quote:
Originally Posted by wrigley View Post
Ally just lowered their online banking percentage rate from 1.5% to 1.25% effective today.

Mike
I am trying to lock in at Ally's no penalty CD before they lower the rate. I have money in two MM accounts at Fido, but it appears I can only move $100k per account at a time. I have to call Fido today to see what the limit is about. I have 10 days total to get the money into the CD.
Helen is offline  
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-12-2020, 05:42 AM   #422
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 5,826
Quote:
Originally Posted by Helen View Post
I am trying to lock in at Ally's no penalty CD before they lower the rate. I have money in two MM accounts at Fido, but it appears I can only move $100k per account at a time. I have to call Fido today to see what the limit is about. I have 10 days total to get the money into the CD.


Didnít you have a variable rate MM account tied to some index? Howís it doing? I have one at a local community bank that is indexed to 13 week tbill + .5%. It held up pretty well until last month. It is now .62% which is not bad but Iím moving it to a CD to lock in a better rate for 2 yrs.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
jazz4cash is offline  
Old 05-12-2020, 05:44 AM   #423
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jan 2018
Location: Tampa
Posts: 7,979
Ally Bank already lowered the no penalty CD to 1.30% on all tiers.
__________________
TGIM
Dtail is online now  
Old 05-12-2020, 06:12 AM   #424
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 29,159
Quote:
Originally Posted by DallasGuy View Post
I had a couple of CD's maturing this month so I just opened up a 1 YR CD at Marcus Bank for 1.6%...couldn't find anything higher and I didn't want to lock in the money longer than a year at this point. Hopefully by this time next year, rates will start inching up again.
Based on past experiences with these low rate periods, I don’t think rates are going to turn around anytime soon. It will probably be several years again.
__________________
Retired since summer 1999.
audreyh1 is online now  
Old 05-12-2020, 06:16 AM   #425
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 29,159
Quote:
Originally Posted by Dtail View Post
I just move the sweep balances into FZDXX which is at 0.37%, but of course need 100k to start it but no minimum balance after that.
Alternatively for our accounts without FZDXX, I have been using 1 month brokered CD's at 0.10% instead of the 0.01% cash sweep accounts.
Since our main Fidelity brokerage account is taxable, I routinely do a sweep to a high yield savings account. Seems to be one day either direction, so itís fast enough.
__________________
Retired since summer 1999.
audreyh1 is online now  
Old 05-12-2020, 06:17 AM   #426
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 29,159
Quote:
Originally Posted by Helen View Post
I am trying to lock in at Ally's no penalty CD before they lower the rate. I have money in two MM accounts at Fido, but it appears I can only move $100k per account at a time. I have to call Fido today to see what the limit is about. I have 10 days total to get the money into the CD.
Thatís simply their standard limit for transfers to an external account.
__________________
Retired since summer 1999.
audreyh1 is online now  
Old 05-12-2020, 06:18 AM   #427
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 29,159
Quote:
Originally Posted by Dtail View Post
Ally Bank already lowered the no penalty CD to 1.30% on all tiers.
Sounds like she already opened the CD and is just trying to fund it.
__________________
Retired since summer 1999.
audreyh1 is online now  
Old 05-12-2020, 06:19 AM   #428
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jan 2018
Location: Tampa
Posts: 7,979
Quote:
Originally Posted by audreyh1 View Post
Since our main Fidelity brokerage account is taxable, I routinely do a sweep to a high yield savings account. Seems to be one day either direction, so itís fast enough.
Makes sense.
The accounts I manage in Fidelity are either in trusts or TIRA, so that option would not work on a frequency/admin basis.
__________________
TGIM
Dtail is online now  
Old 05-12-2020, 07:02 AM   #429
Thinks s/he gets paid by the post
Helen's Avatar
 
Join Date: Oct 2004
Location: Portland
Posts: 1,741
Quote:
Originally Posted by jazz4cash View Post
Didnít you have a variable rate MM account tied to some index? Howís it doing? I have one at a local community bank that is indexed to 13 week tbill + .5%. It held up pretty well until last month. It is now .62% which is not bad but Iím moving it to a CD to lock in a better rate for 2 yrs.
No, I had money in 3 month T-bills. I stopped the reinvestment last week before they came due.
Helen is offline  
Old 05-12-2020, 07:03 AM   #430
Thinks s/he gets paid by the post
Helen's Avatar
 
Join Date: Oct 2004
Location: Portland
Posts: 1,741
Quote:
Originally Posted by audreyh1 View Post
Thatís simply their standard limit for transfers to an external account.
Thank you, I suspected it was something like that.
Helen is offline  
Old 05-12-2020, 07:09 AM   #431
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 29,159
Quote:
Originally Posted by Helen View Post
Thank you, I suspected it was something like that.
Just to be clear thatís their daily limit. You can transfer more the next day.
__________________
Retired since summer 1999.
audreyh1 is online now  
Old 05-12-2020, 08:29 AM   #432
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 12,099
Quote:
Originally Posted by Dtail View Post
Ally Bank already lowered the no penalty CD to 1.30% on all tiers.
I just slipped in under the wire with 1.45%.

Today, I opened a 1 year CD with Marcus for 1.6%.

I have some 2.5% CDs floating around. I dread having to reinvest it later this year.
__________________
The worst decisions are usually made in times of anger and impatience.
Chuckanut is offline  
Old 05-12-2020, 08:30 AM   #433
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 12,099
Is there a way to join Navy Federal if one hasn't been in the service and has no family members currently in the service?
__________________
The worst decisions are usually made in times of anger and impatience.
Chuckanut is offline  
Old 05-12-2020, 08:39 AM   #434
Thinks s/he gets paid by the post
 
Join Date: Jul 2013
Posts: 1,009
FYI, Marcus Goldman's 12mo CD (it's not a no-penalty) is still offering 1.60%. I just opened two of them and moved 15k in one and 10k in another. I really like that they do 'instant link' to external accounts so it took all of 5 mins this morning. Now I have most of my idle cash stashed away in CDs except for $27k in my BoA checking and another $20k in my VG brokerage.
dvalley is offline  
Old 05-12-2020, 08:42 AM   #435
Recycles dryer sheets
 
Join Date: Dec 2016
Posts: 159
Quote:
Originally Posted by Chuckanut View Post
Is there a way to join Navy Federal if one hasn't been in the service and has no family members currently in the service?
Were any family members Veterans?
Carol1862 is offline  
Old 05-12-2020, 08:55 AM   #436
Recycles dryer sheets
 
Join Date: Dec 2016
Posts: 159
Quote:
Originally Posted by Helen View Post
I am trying to lock in at Ally's no penalty CD before they lower the rate. I have money in two MM accounts at Fido, but it appears I can only move $100k per account at a time. I have to call Fido today to see what the limit is about. I have 10 days total to get the money into the CD.
Got me a little concerned because we had an IRA CD come due and put into our MM account. I am transferring it out to Ally. I called Fidelity to ask about the limit and they informed me that this doesnít pertain to IRAís and direct transfers. Hope I got the right info from them. Iíll know soon enough.
Carol1862 is offline  
Old 05-12-2020, 09:03 AM   #437
Thinks s/he gets paid by the post
 
Join Date: Dec 2014
Location: St. Charles
Posts: 2,621
Quote:
Originally Posted by Chuckanut View Post
Is there a way to join Navy Federal if one hasn't been in the service and has no family members currently in the service?
In my case, it was based on my dad serving in WWII, but I had zero documentation, and he is long gone. Basically, they took my word for it.

The family member does not have CURRENTLY be in the service.
__________________
If your not living on the edge, you're taking up too much space.
Never slow down, never grow old!
CardsFan is online now  
Old 05-12-2020, 09:38 AM   #438
Full time employment: Posting here.
mn54's Avatar
 
Join Date: Sep 2007
Location: mpls, mn
Posts: 634
https://www.ufbdirect.com/

anyone use ufb bank? there high yield savings account is 1.7%
mn54 is offline  
Old 05-12-2020, 10:28 AM   #439
Recycles dryer sheets
 
Join Date: Jan 2019
Location: Sunny California
Posts: 430
Quote:
Originally Posted by Chuckanut View Post
Is there a way to join Navy Federal if one hasn't been in the service and has no family members currently in the service?
I'm from Europe. Last year I got in by asking my son in law to join, he called and gave them his grandfathers name who served in the Korean war. He was accepted immediately and then added his wife, my daughter to the account and Navy gave them a code for me to call to sign up as their family member. Took one phone call for them to join and I called the next day and set up my account within about ten minutes. The reps at Navy are the best, can't say enough about them. In fact every time I call them, I stay on the phone to leave 5* feedback they are so great. Oh and a couple of weeks later they ask grandpa if 3.5% is a good rate and he's so impressed with how they were able to join using his name and lock in that great rate for 5 years. Turned out he had a CD maturing at another institution within a couple of weeks so immediately makes plans to visit his local branch so he can join and open a CD for himself. He never even knew that he was eligible to join till then, he was 85 at the time.
RetiredAndLovingIt is offline  
Old 05-12-2020, 11:00 AM   #440
Recycles dryer sheets
wrigley's Avatar
 
Join Date: Nov 2008
Location: Jacksonville
Posts: 473
Quote:
Originally Posted by mn54 View Post
https://www.ufbdirect.com/

anyone use ufb bank? there high yield savings account is 1.7%
I opened an account at HSBC about 2 weeks ago. Their high yield online savings account interest rate was 1.7% at the time. 2 days after I funded the account the interest rate dropped to 1.6%. Itís just a matter of time before they all drop.

Mike
wrigley is offline  
Closed Thread


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Best CD & MM Rates Thread 2019 - Please post updates here almost there FIRE and Money 929 01-01-2020 11:09 AM
Noticed more people holding signs "need work or food" rayinpenn Other topics 3 05-03-2015 02:51 PM

» Quick Links

 
All times are GMT -6. The time now is 03:30 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.