High(er)-rate CD deals
- Thread starter Rosie
- Start date
I cannot believe the hoops I have to jump through to open that 3% CD at Andrews...
Are you still jumping? or did you mean to write: hoops I HAD to.......
I thought all the tips from the veterans with scars should have made it so simple for the latecomers
audreyh1
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Well - I opened an account this weekend, and still nothing. I haven't had time to call today and ask what the heck?!?! I don't have time for this.I cannot believe the hoops I have to jump through to open that 3% CD at Andrews...
Did you open an account? Or do you make an application to open same? If the latter, you still have to serve your time
That seems to be the rate-limiting step (about a wk) tho you may be able to keep it on track if you call after about that wk and a nice rep sends a message in some dept able to help.When you call , bring your laptop and be prepared to surf.....it makes the time seem less painful.
Are you still jumping? or did you mean to write: hoops I HAD to.......
I thought all the tips from the veterans with scars should have made it so simple for the latecomers
I am still jumping. I have called twice this week (during day time to get the A-team, as suggested). They apologized for being overwhelmed at the moment. I pushed a bit more and they finally escalated my application to a manager this morning. He got in touch with me pretty quickly but still needed a bunch of paperwork before he could approve my membership (proof of address, copies of IDs, signed statement allowing Andrews to process my application, all which I submitted promptly)... And I had to temporarily lift the freeze with one particular credit bureau, which turned to be a pain of its own. It has been 9 days already. I only have a couple of business days before I leave town for the holidays. After that, I won't be able to fund the account with the CO-OP system before the end of the year (when the CD offer expires, I believe). I hope things are going to move a bit quicker from here on out.
audreyh1
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Thanks - that's about the size of it. Wasn't the 3 business days I was originally told. Yes - my application status is still "referred".Did you open an account? Or do you make an application to open same? If the latter, you still have to serve your time
When you call , bring your laptop and be prepared to surf.....it makes the time seem less painful.
At least they've said the deal is though 12/31, and so I do have the time to jump through all the hoops. I just didn't expect this first leg to take so long.
Hopefully I'll remember to call Monday if I haven't gotten an email by then. Things get very busy for me next week.
If more paperwork is required - dang! I hope they have secure email or upload. I'm not set up to FAX stuff.
foxfirev5
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Wait until Tuesday and buy a brokered CD. Being a simpleton I don't worry about early w/d penalties, just buy a ladder and let it run.
I use Office Depot for FAXs. Just Faxed 8 pages to Andrews. Cost $13.93.
I think my equipment at home allows faxing. But I very rarely fax, so not
confident. Probably should experiment faxing when I have the time.
audreyh1
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I just hate taking sensitive personal financial and identification documents to a business and faxing them. Those machines have memory you know. Easy for someone to print out what you faxed. I really don't like it.
Agree. But what can you do? Applying online, sending in social security numbers, mailing in Drivers license for ID's. So much risk for fraud.
Just have to keep monitoring everything you have, and hope for the best.
Earl E Retyre
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I seem to recall we uploaded our documentation. No fax was needed.
Agree. But what can you do? Applying online, sending in social security numbers, mailing in Drivers license for ID's. So much risk for fraud.
Just have to keep monitoring everything you have, and hope for the best.
You can hope you get lucky like me and don't have to send in drivers license.
Still every new move is an adventure.......got the ATM cards a while back very soon after approval. Today I got the PINs and instructions to reset. No go for some reason and don't have the heart to ruin a Friday by waiting on the phone for help.
My newest hope......I yelped Andrews FCU a few days ago for the Washington DC location. The one in MD also comes up. The ratings from the small sample size are scary bad but there seems to be somebody from Andrews monitoring and responding to them w/ a phone number/e-mail address so
I e-mailed them a question. Today a got a phone call from someone......hoping it's in response to the e-mail but will wait till next wk
to find out.
To: FIREd............are you sure there's not a shared branch CO-OP near your Xmas destination?
jazz4cash
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Not sure why you wanted the DC location but the main branch is in MD near the base. I saw those Yelp comments also and was prepared for the worst but when I went there I was pleasantly surprised/impressed with the facility and customer support. That was last August. I do think the specials are straining their capacity.
MRG
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Agree. But what can you do? Applying online, sending in social security numbers, mailing in Drivers license for ID's. So much risk for fraud.
Just have to keep monitoring everything you have, and hope for the best.
+1
You know there's all kinds of stuff that can go wrong. Sometimes it does but at least 6 nines of no issues. If you knew the amount of data that wasn't encrypted in transactions it might make you ill. On the other side you have auditors who dig into what the technology does, and how data are protected. Most of the same fears about electronic transmission apply to all other forms.
One thing I learned from a long time around audit, they smell fear. If you are a provider and don't have plans! They, audit, latch on and never let go. I suppose someone could lie and deceive, that's too much work. Many of the people involved don't want to wear orange!
It's always smart to verify every transaction!
They have secure upload, which is what I used.
kaneohe said:
I doubled-checked, no shared branch co-op...
Too lazy to get up and find the main address so I took WAG and put in DC.
Fortunately the main branch came up. Always good to see favorable 1st
hand experiences like yours and Al18 (post 117 in this thread). I do sense
if you can get beyond the 1st line reps dealing w/us hoards, there are some good people there.
audreyh1
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Agree. But what can you do? Applying online, sending in social security numbers, mailing in Drivers license for ID's. So much risk for fraud.
Just have to keep monitoring everything you have, and hope for the best.
If my communications are directly with the financial institution via https, I'm OK. I mean, they will have my data for me to be a customer. As long as I can get my info to them securely, OK. But I don't like to go through a middleman.
audreyh1
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Thank God! I should be able to finish this while traveling.
Here's crackpot idea #1 v2: Write out the check to yourself; endorse for deposit only Andrews FCU , Acct. No. __________ (blank). Take it to shared
branch before you leave for Xmas, explain to manager your situation, show your photo ID, ask if they can hold check till you call w/ acct. no. When they
try to deposit check using acct. no, they can see that you are the owner.
v1 was to ask a friend to hold the check, fill in the acct. no , and run it down to
the shared branch. You'd have to let the shared branch (manager) know what you were planning to do and give friend's name so they could ID w/ photo ID.
Kind of like informal POA except friend would just be the passenger pigeon.
BECU is offering promotional 6-month CD at 1.5%. It could be a good place for short-term cash, especially if you already have an account there.
https://www.becu.org/news/2016/Dec/financial-planning/holiday-cd-promotion
https://www.becu.org/news/2016/Dec/financial-planning/holiday-cd-promotion
audreyh1
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Once upon a time CD rates and MM rates and bank interest rates on savings went right up whenever the Fed raised their rate. Not any more. It's as if they are all waiting to see if they really have to raise the interest rates they offer customers. It's about competition for deposits, so unless competitors raise rates, a given bank might not feel pressure to respond.
Another Reader
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Mortgage rates went up, as did HELOC rates. The heck with depositors!
This is the only one I have seen so far......From https://www.depositaccounts.com/blog/
This might be a sign that Wednesday’s Fed rate hike will have an effect on deposit rates. Ally Bank just raised the APY of its 11-month No Penalty CD by 38 basis points to 1.25%. This is the highest APY that Ally Bank has offered on this CD since 2010.
The 1.25% APY applies to all balances. Ally Bank added rate tiers in 2015, but this 11-month CD currently has just one rate for all tiers.
