Florida Banking Rates and News

I learned of this promotion on Friday when the FDIC announced CertusBank had assumed all deposits of the failed Parkway Bank. As I reviewed the CertusBank website, I noticed it was offering a checking account bonus of up to $125. Both new personal and business accounts are eligible. The details are listed in CertusBank’s promotion page as of 4/29/2013.

To earn the full $125 bonus, the following is required:

• $100 for opening a new checking account with direct deposit and bill pay
• Additional $25 for using your debit card five times in the first 60 days

Below is a copy...

It has been just over a year since EverBank started offering its 6-month intro rate on its checking and money market account. In previous years, the promo period was only 3 months. After the promo period ends, the rate falls back to the ongoing rate. The ongoing rate has always been fairly competitive. It has never been a rate leader, but it has been close to the rates at other internet banks like Discover, Capital One 360 (formerly ING DIRECT) and Ally.

EverBank’s 6-month intro rate is an attractive promotion for those who don’t want to lock their “safe”...

Regions Bank is again advertising a checking account promotion in which you can earn $125. This is another big bank that lacks free checking so you'll have to be careful to avoid monthly fees. The offer requires a new customer open a LifeGreen Checking Account online with the promo code 125, have at least $500 in total direct deposits and at least 10 Visa check card purchases in the first 60 days. Offer is scheduled to end on 4/7/2013. The offer is listed in this Region's promotion page.

There's no mention of this offer on Region's home...

Anytime I see a rate hike these days, I'm a little skeptical. That's especially the case when the rates top 2 percent. So when I saw the rate hikes at City County Credit Union, I called the credit union. According to the CSR, the new rates are correct. These include a 2.02% APY 5-year CD. Minimum deposit is $500. Other competitive rates include a 1.20% APY 30-month CD and a 1.00% APY 1-year Jumbo CD with a $50K minimum deposit. Members can receive rates 25 basis points higher if they qualify for premium membership. These rates are listed in...

If you're considering a CD but you're concerned about being locked into a CD in today's low-rate environment, you might want to look into flexible CDs. One bank that's offering a flexible CD is First Green Bank in Central Florida. It's advertising a 24-month Flex CD with a 1.10% APY. The CD has three flexible features:

1. add-on: make additional deposits up to one-half the initial principal balance
2. withdrawal from: one withdrawal up to one-half the initial principal balance without penalty during the original term
3. increase rate: increase the rate one time during the term if the bank's rate increases

Minimum deposit is $1,000,...

Every now and then a financial institution will offer a CD special that's actually more like a checking account bonus. That's the case at Chartway Federal Credit Union. It's offering a special called the GO Direct Promotional Certificate. It has an 11-month term and a 3.00% APY. Minimum deposit is $1,000. Here's the catch (there are actually two). Maximum deposit is $20,000, and it requires direct deposit for the duration of the CD. The details of this special CD are listed in this Chartway promotions page as of 2/22/2013. It's a limited time offer.

Update 2/27/13: A...

Citizens State Bank in Florida has fallen off the top of the 5-year CD rate list. However, the bank increased the rates of some of its shorter-term CDs, and they are now very competitive. Also, it continues to offer a savings and money market account special.

The new 5-year CD yields are 1.81% APY for a $100K minimum and 1.75% APY for a $1K minimum. The old yield was 2.05%.

On the positive side, Citizens State Bank increased its 1-year and 2-year CD rates. The 2-year CD yield is now 1.35% APY for both a $1K and $100K balance. The 1-year...

IRA specials are common this time of year as banks and credit unions try to attract new customers. This time of year before April 15th, you can make IRA contributions for both the current year and the previous year. I came across another credit union with a good IRA CD special. It's South Florida Federal Credit Union, and it's offering 2.01% APY on a 2-year IRA CD. Minimum initial deposit is $200, and the maximum is $100,000 per member. New deposits are required. This special is listed on the credit union's front page in a rotating banner as of...

Just two weeks ago I posted on a BB&T $100 checking account bonus. Now it's offering a $125 bonus with the same requirements. The nice aspect of this bonus is that you can qualify for it without direct deposit. The downside is that BB&T's checking accounts have potential monthly service fees. So if you open the checking account for the bonus, you have to make sure to avoid the fees.

To qualify for the $125 bonus, customers must open a BB&T checking account and set-up and receive 2 direct deposits of at least $100 OR make 3 online bill payments...

Trustco Bank is offering a $100 bonus for opening a new Trustco Free Interest Checking Account with direct deposit. This appears to be available at all of their branches in the states of Florida, New York, New Jersey, Massachusetts and Vermont. Trustco Bank also has a 13-month CD special with a 1.00% APY, but this isn't available at all of their branches. It's not available in Northern New York or Florida. Thanks to DA member stormdog123 who mentioned this in the forum. These promotions are listed at Trustco Bank's website as of 1/21/2013. You'll have to enter your...

BBVA Compass has changed its checking account promotion for the new year. Instead of a cash bonus, this new one offers a free Kindle Fire HD. Unlike the previous one, this new one requires direct deposit (and they specifically exclude bank-to-bank transfers). Here's the link to the new promotion. Below are the steps required for the bonus:

• Open a consumer checking account with a $25 minimum deposit by 3/31/2013
• Have a qualifying direct deposit of at least $300 from an unrelated third party post to the account within 90 days of account opening, AND
• Make 3 online bill payments...

BB&T is again offering a $100 bonus for opening a checking account and performing some additional activities. Just like most large banks, BB&T's checking accounts have potential monthly service fees. So if you open the checking account for the bonus, you have to make sure to avoid the fees.

To qualify for the $100 bonus, customers must open a BB&T checking account and set-up and receive 2 direct deposits of at least $100 OR make 3 online bill payments of at least $25. The offer is scheduled to end on 3/1/2013. Here's the link to the BB&T...