jazz4cash
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Rates on MYGAs seem to be trending up. I see 2.7 for 5yrs for an A insurer, up from 2.5ish They were edging up before the T-Notes jumped up lately.
I just finished the Citi Priority package. Deposited money to meet the requirements and didn't touch. All went fine. Depending on the state you live in, you might be about to do a similar thing with Huntington, for $500 bonus for $25K. I mentioned the above in a recent post.
If you're referring to the Citipackage paying $700 per (2)accounts, the answer is yes. I opened 4 accounts on two social security numbers in minutes and linked to a different bank to fund the accounts. The whole process took less than half an hour.This offer expires 4/1/2021, is there still time to complete the steps?
If you're referring to the Citipackage paying $700 per (2)accounts, the answer is yes. I opened 4 accounts on two social security numbers in minutes and linked to a different bank to fund the accounts. The whole process took less than half an hour.
I'm contemplating doing the Citi Priority Account Package for DH and I as well, as I have some CD's coming due and I don't want to tie all of the $ up in my GTE add-on CD this early.
So, if I understand it correctly, I would:
1. Open two individual checking accounts by 4/1
2. Enroll in the Cash Bonus offer by the 30th day
3. Open a new savings account for each of us by the 30th day
4. Fund either the checking/savings account for each of us with $50K each
5. Keep the $ there for at least 60 days and keep the eligible account open for up to 90 days afterwards until the cash bonus is paid
If they take the full 90 days then your money is held for 5 months, and on $50K this equates to approximately 3.36% annualized return.
Questions:
1. Is the above correct?
2. Is it better to keep the $ in the checking account due to the potential fee for minimum balance below $10K? Or best to split $ between the two accounts, keeping at least $10K in the checking? I'm not sure if I am reading the fine print correctly.
3. Are there any account closing fees?
I did it slightly differently. I followed this link:
https://banking.citibank.com/cbol/c...1&ProspectID=0DE7C5839F0246048F7A7B9972A10848
The link leads you through the steps. Read all of the fine print first. Make sure that for the second set of accounts you go back to the original link. Make sure that you leave at least $1 in one of the accounts, as they warn you that an account with no balance can be closed. I called after I set up the accounts and they verified that the bonus code was attached to my accounts. If you want to minimize the amount of time the money is held, don't wait long to fund the full 50K. The sixty days does not begin until after the full 50K is in the account. I believe there are no monthly fees as long as the balance between the 2 accounts exceeds 50K. I don't know about any account closing fees. Once the bonus hits the accounts, it is my intention to consolidate all of the funds into the checking account and then do a pull from Ally to clear out all of the funds.
It took me less than half an hour to do all of this. Very easy. In addition to linking an outside account from the Citi side, I also set up a linked account from the Ally side so that I can pull or push.
AMEX just dropped to 0.40 percent for "High" Yield Savings
I wonder when this trend starts to reverse itself; 10 year treasury is at 1.534 as I type this.
Thank you very much for the additional details!!!
AMEX just dropped to 0.40 percent for "High" Yield Savings
I wonder when this trend starts to reverse itself; 10 year treasury is at 1.534 as I type this.
I signed up for that TD Bank deal. The account opening process was very easy.
Did you have to use a special link and did you open one of each or just the savings?
Just as a point of comparison, I notice that the S&P500 dividend yield is currently about 1.8%. That's about 3.5x more than the current savings account rate at Ally. Yes, there is more risk with stocks.
Got $1.2m coming off 5 & 3% CD next month..... Nowhere to put the money...
Just my view...if you're going to go with stock dividends as a replacement/alternative for interest on cash, consider sticking to preferred shares where there is less volatility in the share price and minimal risk to the dividend (relative to the common stock dividend). I continue picking up preferred shares in strong issuers paying 6% to 7%. Preferred shares are closer to a fixed income instrument than common shares. quantumonline.com has a good section for preferred stocks.
Got $1.2m coming off 5 & 3% CD next month..... Nowhere to put the money...