6.00% 6-Month CD at a Texas Bank (Patriot)

Anonymous - #1, Monday, June 25, 2007 - 7:41 AM

Anyone knows whether application online or thru the mail is accepted for out-of-state customers?

Anonymous - #2, Monday, June 25, 2007 - 8:15 AM

I'd be interested too. However, from their website, it says that you have to call Patriot Bank to get more information or to open an account with them (a non-tollfree #), or stop at a local branch. Interestingly, both their Freedom Checking and Independence Money Market Checking accounts have free transactions at any bank's ATM; but you must submit reciept to get refunds; but Freedom charges billpay $4.95/month.

Anonymous - #3, Monday, June 25, 2007 - 9:32 AM

A CSR said it is necessary to visit the bank to purchase the CD. What happens in Texas stays in Texas, or vice versa.

Anonymous - #4, Monday, June 25, 2007 - 9:46 AM

I called both the LBJ location in Dallas, and the Main St. location in Fannin County. They require you to come into the bank in person to open the CD, even if you live in Texas.

Anonymous - #5, Monday, June 25, 2007 - 3:27 PM

Even though I live TX, I will pass it because FNBO is better.

Anonymous - #6, Monday, June 25, 2007 - 3:52 PM

FNBO 6% deal will expired in sept. If you take this deal, it will continue until jan next year. So it's depend on your financial.

Duck (anonymous) - #7, Monday, June 25, 2007 - 5:08 PM

10min in and out at the one on oates in Garland Thay say they had a problem with people opening accounts waiting for check to clear then wiping it out wouldnt go into specifics but they will not open without visit at least it was on the way to frys Thanks Banking Guy

Anonymous - #8, Tuesday, June 26, 2007 - 11:23 AM

The promotion is now on their website. I called the main number and they indicated that a branch visit was necessary. I asked about a credit check - they said they do a tele-chex. Also the interest is compounded monthly, not daily. I was told, "it accumulates daily, but compounded monthly."

Banking Guy (anonymous) - #9, Tuesday, June 26, 2007 - 6:33 PM

Thanks everyone for the sharing the details that you've learned. I've updated the post with some of this info.

Poor Credit Loans (anonymous) - #10, Thursday, August 14, 2008 - 4:36 AM

I think there might be more into this than you might see in the whole picture that they are putting forward. Why would Texas bank be so aggressive with their money recruitment policies to even consider a 6% A.P.R at this market climate. I smell desperation.