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Royal Banks of Missouri Lowers RCA Rate

Thursday, January 10, 2013 - 11:00 PMRoyal Banks of Missouri - Details
With no prior notice to customers (i.e., I didn't receive any), Royal Banks of Missouri lowered the rate for the Magestic Checking account from 2.42% APY to 2.16% APY. This change was effective 1/9/13. The cap remains at $25,000.
4
ChadJack12ChadJack1217 posts since
Apr 22, 2010
Rep Points: 42
1. Friday, January 11, 2013 - 1:32 PM
At least they kept .75% for over 25k and no cap, which is the most generous I know. It has made it convenient to maintain extra funds there without the usual transfering around to optimize an rca rate.  Its 15 debit requirement is becoming harder to justify, but retaining the 25k cap and the .75% above it, probably still counters that, given what's happening all over.
2
ekatekat75 posts since
Jan 22, 2010
Rep Points: 246
2. Friday, January 11, 2013 - 3:46 PM
I agree. The qualifying rate for all balances over the $25K cap is the best feature of the Magestic Checking account nowadays.
1
ChadJack12ChadJack1217 posts since
Apr 22, 2010
Rep Points: 42
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