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-   -   Best CD, MM Rates & Bank Special Deals Thread 2021 - Please post updates here (https://www.early-retirement.org/forums/f28/best-cd-mm-rates-and-bank-special-deals-thread-2021-please-post-updates-here-107187.html)

jazz4cash 05-20-2021 06:43 PM

Marcus sent me email saying I get a .2% bonus for THREE MONTHS (yawn) from their referral promo. Only thing is I didnít refer anyone. Anybody else get this? Iím getting the AARP bonus as well so my current rate is 0.8% for 3 months. You could refer a max of 5 friends and family. Too much work.

BergLust 05-21-2021 06:56 PM

Quote:

Originally Posted by BergLust (Post 2559179)
Well, here's what I've done. I've opened up two accounts for a $500 and $600 bonus:



Huntington 25 Checking:
  • Receive a $500 sign up bonus when you make at least $15,000 in total deposits within 60 days. I deposited $25,000 to avoid the monthly account maintenance fee.



BT&T Checking and Savings:
  • Step 1: Open a checking account and complete qualifying direct deposits totaling at least $500 within 90 days of account opening. Also to avoid the maintenance fee on the account I'll maintain a monthly balance of $1,500. To guarantee the deposits are "clean", I'm going to route some of my paycheck from my employer to this account.
  • Step 2: Open any new BB&T savings or MMA account deposit a rang of balances within 30 days and maintain for 90 days after account opening. I opened the free eChecking account and am in the process of depositing $25,000. This correlates to the bonus range of $25,000Ė$49,999.99 and brings a $600 bonus after maintaining in the account 90 days....along with completing Step 1, of course.
  • SPECIAL NOTES: Have to open the two accounts on the same day and use Promotion code BCNGJ when opening the accounts.
  • SPECIAL NOTES: If you want to try this, and you don't have an address in one of the qualifying states, their sister company SunTrust has the same promotion running in other states.



Lastly, to be forward thinking, beyond 90-ish days, in a couple weeks I'll open up a HMBradley account and start adding some deposits to work towards the 3% savings rate. If no other good (low effort, high value) bonuses arise I'll park some money there for a while. Small deposits in Q1 to move from 1% savings rate to 3% savings rate. Then a Big deposit in Q2, such that even if I pull out up to 80% of the deposited amount I'll stay in the 3% savings rate tier through Q3.



Just got my bonuses for the Huntington and BT&T promotions. Have already moved the money back to Ally and closed the Huntington account. Will close the BT&T account shortly. Now need to figure out what to do nextÖ

I decided to abandoned the HMBradley idea. I opened the account and they had no way to put beneficiaries on an account. It was something they were ďworking onĒ. Seemed like they are still getting their feet under them. It is a Fintech company after all.

So, for now things sit in Ally. Would appreciate any suggestions! Worst case I open the 1% T-Mobile account I guess.

Golden sunsets 05-22-2021 05:37 AM

I did the citibank checking and savings for $700 x 2. A set of accounts for DH and a set for myself. $100k(50k each), but you really have to plan on 5 months as the bonus doesn't payout until 60 days after the 90 and there are maintenance fees if you don't maintain enough of a balance. I'm not sure the deal is still active, but if it is, be really careful to follow the instructions to the letter.

BergLust 05-22-2021 07:56 AM

Quote:

Originally Posted by Golden sunsets (Post 2609954)
I did the citibank checking and savings for $700 x 2. A set of accounts for DH and a set for myself. $100k(50k each), but you really have to plan on 5 months as the bonus doesn't payout until 60 days after the 90 and there are maintenance fees if you don't maintain enough of a balance. I'm not sure the deal is still active, but if it is, be really careful to follow the instructions to the letter.



That was the one I did towards the end of last year and it worked out great!

Golden sunsets 05-22-2021 08:24 AM

Oh right. Do you live in a TD Bank state? I may do that one next.

Sue J 05-22-2021 12:18 PM

Quote:

Originally Posted by Sue J (Post 2608613)
About the T-Mobile Money account....

I opened the account a few days ago and today the test transactions were at my home bank so I was able to verify the connection with T-Mobile. I'm ready to transfer some money from that bank and T-Mobile says I have to wait for the debit card to arrive and activate it before I can do the transfer.

How long did it take before you got the debit card? I don't need the debit card, I plan on parking money at T-Mobile like a savings account. They seem to think I have to have one.

Nevermind, the debit card arrived today. I verified it and initiated a transfer. While I was waiting for the debit card to come I set up transferring from DiscoverBank to T-Mobile and initiated one of those yesterday 5/21/21. So I'll get to compare if "pulling" or "pushing" is faster.

All this excitement over 1% interest!

Trailwalker 05-22-2021 12:51 PM

Dominion Energy
 
I completed the process of starting an account at Dominion Energy (1.5% for balances over $50,000). As referenced earlier in the thread, this money is not FDIC insured.

Signup was a bit cumbersome (snail mail application) and took about a week before I knew that they had my application (external account linked) and almost another week before I received their packet to set up the online access. Should be easier to move money in and out from this point forward.

TN Jim 05-23-2021 01:50 PM

Quote:

Originally Posted by jazz4cash (Post 2609462)
Marcus sent me email saying I get a .2% bonus for THREE MONTHS (yawn) from their referral promo. Only thing is I didn’t refer anyone. Anybody else get this? I’m getting the AARP bonus as well so my current rate is 0.8% for 3 months. You could refer a max of 5 friends and family. Too much work.


I sent you a PM earlier this month.

Used your link from earlier post on this thread.

Your welcome.

jazz4cash 05-24-2021 07:14 AM

Quote:

Originally Posted by TN Jim (Post 2610625)
I sent you a PM earlier this month.

Used your link from earlier post on this thread.

Your welcome.



WOW! Thanks. I had no idea a link in the forum could qualify for a bonus and definitely not why I posted. Thereís no end to the value I get from participating here. In the meantime I am still procrastinating on opening an account for DW.

AGAIN, Thanks TN Jim.

Done 05-24-2021 12:02 PM

Best CD, MM Rates & Bank Special Deals Thread 2021 - Please post updates here
 
I put some cash into Toyota IncomeDriver notes (not FDIC insured) paying 1.5% based on this thread. Just noticed they lowered the rate to 1.35% on May 11. Itís a better rate than a saving account but GM and Dominion Energy demand notes are still paying 1.5%.

harley 05-24-2021 05:56 PM

I spent some time (a few years) playing the "chase the interest rate" game, as well as the "bonus for opening a new account" game, which was actually the more lucrative one. But seriously, chasing .01%, or even .05% isn't worth my time and effort. The total dollar amounts are tiny. I can do nearly as well by buying the cheapest gas throughout the year. Or cutting back on eating out or shopping the grocery store sales or something.

I'll still pick the best CD rate when one comes due, but other than that I'm admitting defeat in the Fed's war on savers. I'm sure that inflation will raise rates in the future, and I'll wake up and pay attention. But until then, I'm outta here (just this thread). It's just too depressing.

jazz4cash 05-25-2021 06:20 AM

Quote:

Originally Posted by Done (Post 2611004)
. Itís a better rate than a saving account but GM and Dominion Energy demand notes are still paying 1.5%.



Probably not for long. I think you just put the jinx on Ďem. Iíd expect Dominion to be the most stable.

Chuckanut 05-25-2021 08:00 AM

Quote:

Originally Posted by harley (Post 2611144)
I spent some time (a few years) playing the "chase the interest rate" game, as well as the "bonus for opening a new account" game, which was actually the more lucrative one. But seriously, chasing .01%, or even .05% isn't worth my time and effort. The total dollar amounts are tiny. I can do nearly as well by buying the cheapest gas throughout the year. Or cutting back on eating out or shopping the grocery store sales or something.

I'll still pick the best CD rate when one comes due, but other than that I'm admitting defeat in the Fed's war on savers. I'm sure that inflation will raise rates in the future, and I'll wake up and pay attention. But until then, I'm outta here (just this thread). It's just too depressing.

+1

I can make more money spending 30 minutes a month updating the wise choice of cash-back credit cards than fussing around trying to find 0.02 more percent on my formerly 2%+ CD's.

I must admit I am rather amazed that this supposedly omnipotent and vocal voting block called 'seniors' has accepted these truly awful interest rates for many years.

Done 05-26-2021 12:29 PM

Best CD, MM Rates & Bank Special Deals Thread 2021 - Please post updates here
 
Quote:

Originally Posted by Chuckanut
I can make more money spending 30 minutes a month updating the wise choice of cash-back credit cards than fussing around trying to find 0.02 more percent on my formerly 2%+ CD's.

I suppose it depends how much cash youíre sitting on versus annual spending. In my case I have far more cash than usual so an extra 0.5-1% is helpful.

jazz4cash 05-26-2021 12:49 PM

Quote:

Originally Posted by Chuckanut (Post 2611284)
+.

I must admit I am rather amazed that this supposedly omnipotent and vocal voting block called 'seniors' has accepted these truly awful interest rates for many years.



I donít get this. What choice do we have? The banks donít need deposits. They donít want our money. Since the reserve requirements were relaxed to zero, they can create money for loans out of thin air.

I opened several accounts just to get the bonus. I canít believe the banks run these promos. Itís a hassle to keep up with the details required to get and keep the bonus.
I have started to nibble around the MYGA option. So far so good.

Dtail 05-26-2021 02:32 PM

Quote:

Originally Posted by Chuckanut (Post 2611284)
+1

I can make more money spending 30 minutes a month updating the wise choice of cash-back credit cards than fussing around trying to find 0.02 more percent on my formerly 2%+ CD's.

I must admit I am rather amazed that this supposedly omnipotent and vocal voting block called 'seniors' has accepted these truly awful interest rates for many years.

Yeah, I am currently monitoring maximizing my credit rewards more so than hunting for savings rate differentials.

audreyh1 05-29-2021 04:53 PM

Early last month Synchrony Bank had dropped the rate on their high yield savings account to 0.4%.

Well recently on 5/27 they reversed and raised it back to 0.5% it had been before.

Perryinva 06-05-2021 04:33 PM

Just did the Chase new checking account for a $225 bonus, with direct deposit. We had actually been looking for another bank as we have had Wells Fargo (including all the banks that got bought out to eventually be them) for many many years, and after the recent refi with them, they really pissed me off. It all worked out in the end, but not because of their CS, ut me doggedly staying on top of them. Chase has a better international presence and finally enough branches in Richmond, so we’re giving them a shot.

RHONDAVE 06-06-2021 06:04 AM

Quote:

Originally Posted by Golden sunsets (Post 2609954)
I did the citibank checking and savings for $700 x 2. A set of accounts for DH and a set for myself. $100k(50k each), but you really have to plan on 5 months as the bonus doesn't payout until 60 days after the 90 and there are maintenance fees if you don't maintain enough of a balance. I'm not sure the deal is still active, but if it is, be really careful to follow the instructions to the letter.


My terms for same offer (end date of 4/1/21) state maintain minimum account balance for 60 days and then payout is within 90 days after that.


Just noticed that eligibility of customer can be denied if W9 is not on file with CITI. There is always something with Citi, now have 2 online meeting requests for 2 seperate maximum bonus ($1500) to discuss this W9 requirement and verify account bonus code is attached to both accounts (if not they do not pay)

Golden sunsets 06-06-2021 06:23 AM

Quote:

Originally Posted by RHONDAVE (Post 2616708)
My terms for same offer (end date of 4/1/21) state maintain minimum account balance for 60 days and then payout is within 90 days after that.


Just noticed that eligibility of customer can be denied if W9 is not on file with CITI. There is always something with Citi, now have 2 online meeting requests for 2 seperate maximum bonus ($1500) to discuss this W9 requirement and verify account bonus code is attached to both accounts (if not they do not pay)

RHON; Thanks for this update. I have confirmed that the bonus is attached to both sets of accounts, but this is the first I've heard about a W-9 requirement. I'm assuming that I have provided them with our TID's as part of their initial paperwork, although not a form W-9 specifically. Please update me when you've nailed that detail down, if you don't mind.

Berglust, who frequents this thread, just completed this deal and has received the bonus and closed the accounts. Perhaps he/she could chime in on this wrinkle?


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