BankUnited Internet Offerings: 4.75% Savings / 5.25% 12-month CD

BankUnited of Florida is offering a 4.75% APY savings account and a 5.25% APY 1-year CD. The 4.75% APY only applies to balances of $5K and higher. The minimum balance to open the account is $50. The minimum daily balance to avoid a $5 monthly fee is $300. The CD requires a $5K minimum deposit. Both can be opened online by people from any state.

Based on a conversation with the CSR, this 4.75% APY is only guaranteed through May 1st. We'll have to wait and see if Bank United will keep this savings account competitive.

The online account applications appear to be through CashEdge which is the same online banking service provider used by HSBC. The application instructions imply that account funding will be done by ACH. However, the CSR stated that it can be funded only by check. I'm not sure if she was too familar with these new online accounts.

The online savings account seems typical. It doesn't offer check writing, but, according to the CSR, you can get an ATM card.

The 5.25% 1-year CD has an early withdrawal penalty of 6 months. The online application looks identical to that of the savings account.

Credit for this find goes to this SavingAdvice thread.