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Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.

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DepositAccounts.com Milestone - Tracking Over 2,000 Banks and Credit Unions

POSTED ON BY

We're now listing over 2,000 banks and credit unions in our rate tables. The 2,000 number is a milestone for us. In addition to reporting on this milestone, I thought it would also be useful and interesting if I review some of the features of DepositAccounts.com.

For each bank and credit union, we list multiple deposit products such as checking accounts, savings accounts and CDs. And each product can have multiple rates. The total number of deposit products that we're listing is over 59,000, and the total number of rates is over 95,000.

Each day our team checks the websites of the banks to make sure the rates are up-to-date. That saves me a lot of time. It also helps me to spot important rate changes.

This process isn't perfect, though, and when the banks make changes to their websites, it can occasionally slip by us. So if you see any problems with the rates, the best way to inform us is to use the "report an issue" link. This link is located on the top right of the "products & rates" tab of the hub page for the bank. Here's the products & rates tab for Ally's hub page. When you click on the institution name in the rate tables, it'll take you to this hub page.

If our team thinks there's a potential issue with rates from a bank, we will temporarily stop showing the rates for that bank. The rates will be re-listed once they're carefully reviewed.

If you want to find information on a specific bank or credit union, our Credit Union and Bank Reviews page can be used to search for that institution. That search feature will take you to the hub page for the bank or credit union.

All hub pages have at least an overview tab, a health tab with financial stats and a review tab where you can submit reviews and read reviews from others. If we're tracking the rates for that bank, we will also have a "products & rates" tab (if there is no temporary issue with the rates).

If there's a bank or credit union that we currently don't track and you think their rates should be listed, you can send us an email at feedback@depositaccounts.com. We give priority to banks and credit unions with competitive rates and with rates that are easily accessible from their websites. We want to continue to make DepositAccounts.com the best resource on the web for finding the best bank deals.



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Comments
16 Comments.
Comment #1 by John Shannon (anonymous) posted on
John Shannon
Ken, you do a great job!

5
Comment #2 by tightwad posted on
tightwad
There are definately more tools to make things easier for the casual reader, but I have to admit to missing the old format...and the long gone easy 5% bank deals. lol

10
Comment #3 by Alan posted on
Alan
Kudos to you, Ken.  Your website saves all of us countless hours tracking down the best rates for CDs, Reward Checking and Money Market Accounts.  Many other websites list only the rates for their advertisers, making the information useless.  Additionally, the easy access to bank/credit union ratings (and Texas Ratios) helps investors avoid institutions that are on life support.

7
Comment #4 by Bozo (anonymous) posted on
Bozo
Some good, some bad. Your new computer seems to drop out old posts which should be reflected in the weekly summaries (I would cite INOVO Credit Union's near 3% CD (along with its step-up feature) and Northwest FCU having fallen totally off your radar) (Ken, this credit union is important, as it is one of the few that allow those 59 1/2 IRA withdrawals). I would give you a strong "B", but I think you are relying too much on your new cyber-friend.

Bozo

4
Comment #5 by Anonymous posted on
Anonymous
Reward Accounts create additional spending, which is an economic improvement factor.

The committment to 10 transactions a month drives additional spending; dollars that would otherwise not be spent.

For example, in the desire to complete all 10 transactions and qualify for a reward interest rate, a user will visit more stores (including internet stores) and purchase more items than would have been purchased without this reward committment.

Therefore the continued reduction of reward interest rates will be a contributor to the poor economic recovery.

3
Comment #6 by 51hh posted on
51hh
Post 5:

For me as a reward checking account owner, I make a effort not to spend anything extra to meet RCA requirements; e.g., meet requirements via daily usage of gasoline, paying utility/insurance bill, etc.  I am not sure whether I represent the majority of the RCA account owners though.   

3
Comment #7 by cactus posted on
cactus
Ken,

Thank you very, very much for all the help over the years.

And I'm glad to see that this has worked out well for you as a business.

4
Comment #9 by Increase1 (anonymous) posted on
Increase1
It's easy to get 10 transactions, whether thru billpay or using the card.  I pay my water & garbage bill to the City and their website allows me to use a VISA debit card.  Insurance can be paid online the same way. How is that spending more?  If you are spending more, you're not using your creative mind to its full potential. :-)  I know you can do it.

1
Comment #10 by me1004 posted on
me1004
Bravo!

5
Comment #11 by O-Qua Tangin Wann (anonymous) posted on
O-Qua Tangin Wann
Yes, thank you, Ken, so much for your hard work. (I'd like to add that I too really, really miss and like the old format better. It is so hard just to post a quick comment about a bank's rate change. I wish you would put a link on the blog homepage where we can with one click type a quick comment about a bank rate, etc. You used to have this on the old blogspot site. Thank you.)

3
Comment #12 by dave9354 posted on
dave9354
Fantastic Job!! You have opened up the world to better banking!! All we need now are an increase in the Savings rates!!

2
Comment #13 by Rab Does (anonymous) posted on
Rab Does
Yea, I get the "safe" and "guarenteed" part of CD's, BUT------------------look around for better options.

Goldman Sacks adjustable rate preferred stock---4.5% yield and at floor and under par.

Bank of America--2 adjustable preferreds paying 5%yield and at floor and below par, BAC also has bunches of 8% pref's.

IF YOU TRUST THE GOV. AND IT'S GUARENTEES SO MUCH---take a look at Fannie Mae and Freddie Mac Preferreds.

1
Comment #14 by Anonymous posted on
Anonymous
first, much thanks Ken and friends! you have helped regular middle class americans protect their capital savings while earning a decent return over the years. we cannot thank you enough to have someone who cares to look out for our interests.

actually i'm one of many i am sure, who does spend more in these reward accounts than the minimum. after all the bills are paid to complete the transactions, whatever left over i apply to small and medium (safe) purchases i might eventually need like extra printer cartridges, supplies, clothes, charity, dates, electronics, etc.

if the reward accounts get severly curtailed, i and many - i am sure - will clamp down on purchases, and just get the bare essentials. i'd expect this is just the opposite effect the economy needs.

Thanks again Ken, et all, and let's hope the small community banks who offer these benefits to consumers will be protected and able to thrive. (as well as all of us)

peace!

2
Comment #15 by Anonymous posted on
Anonymous
It's kind of sad when you have to pat yourself on the back for something that duplicates the work of other websites.  I'd be happier if you and "your team" worked on higher quality blog posts and keeping up on the latest offers.

This used be a great blog for information on banking deals.  Now, it's hardly even a blog.

13
Comment #16 by Harvey in Colorado (anonymous) posted on
Harvey in Colorado
Ken,

I have been a constant user of your site for a long time.  The new additions are great. Also, I really appreciate the new bank reviews with Texas Ratios, cap ratios, etc. Good luck and thanks.

5
Comment #17 by Anonymous posted on
Anonymous
I don't know why you have so many naysayers posting today. 

 

Ken, you do a great job. Thanks!

5