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Colonial Co-Operative Bank (In Mass) Advantage Checking Dropped RCA Rate:

Saturday, November 24, 2012 - 8:28 AMColonial Co-operative Bank - Details
from (3%, $25K) to (2.27%, $10K); unclear when they did that.
2
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
1. Saturday, November 24, 2012 - 9:42 AM
At the bottom of the bank's rate sheet there are two notes:  "date of last change 10/1/12" (which indicates a change to any of the rates) and "rates accurate as of 11/1/12".   Whenever the change occurred, it was apparently not communicated to you as an accountholder.    Unfortunately that lack of communication happens frequently.
1
pearlbrownpearlbrown1,431 posts since
Nov 2, 2010
Rep Points: 6,248
2. Sunday, November 25, 2012 - 7:39 AM
The rate sheet is a little confusing. It appears the 2.27% applies to balances of $25 to $10,000 AND $10,000 to $25,000?

BTW, we were listing old rates because the bank kept their old rate sheet when they came out with the new rate sheet at a new URL. We'll be updating these rates soon.
1
Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,074
3. Sunday, November 25, 2012 - 8:43 AM
Ken, I agree that the rate sheet structure is certainly confusing and the bank's keeping an old rate doesn't help either.  They may have chosen to use that $25-$10k and $10k-$25k structure because they state "same rates and terms as the Super NOW account", which uses the same tiers.   Only the Shadow knows (bwa ha ha ha) what they were thinking!
1
pearlbrownpearlbrown1,431 posts since
Nov 2, 2010
Rep Points: 6,248
4. Wednesday, November 28, 2012 - 8:39 AM
CSR stated the limit is $25K; the confusing $10K and $25K are the tiers, both tiers are at 2.27% APY.
1
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
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