Presidential Bank Raises Its Savings Rates
Sep 26, 2005 - 9:23 AM by Ken Tumin
Presidential Bank just raised its Premier savings account rate from 3.87% to 4.12% APY. EmigrantDirect's lead didn't last long. However, EmigrantDirect's 4.0% savings account has the advantage in that it has no minimum deposit or balance requirement. Presidential Bank requires a $5K minimum deposit and a $5K minimum balance to avoid monthly fees. Also, balances over $35K only earn 2.82% APY. Refer to my previous post on Presidential Bank for more info.
Presidential Bank doesn't have the best website (although EmigrantDirect isn't the best either.) It looks like Presidential's website hasn't changed since the 90's. I find it strange that the Premier Savings page still has 3.5 Percent in the html page's title (the title shows up on the very top of the browser.) This has been out-of-date for several months.
Presidential Bank doesn't have the best website (although EmigrantDirect isn't the best either.) It looks like Presidential's website hasn't changed since the 90's. I find it strange that the Premier Savings page still has 3.5 Percent in the html page's title (the title shows up on the very top of the browser.) This has been out-of-date for several months.
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Anonymous - #1, Monday, September 26, 2005 - 5:12 PM
This account doesn't come with an ATM card or a checkbook. And there's no mention of ACH transfers out of the account. So how does one withdraw money?
Think I'll stick with ED. My loss of 0.12% interest buys me next-day ACH transfers.
Banking Guy (anonymous) - #2, Tuesday, September 27, 2005 - 8:18 AM
I agree. Presidential doesn't match EmigrantDirect's conveniences.
You could get Presidential's checking account and link that with ED or another bank where you can initiate ACH transfers. But that is more hassles.
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