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This Deal Is Almost Dead.

Saturday, June 5, 2010 - 9:14 AMFounders BanK
The bank now wants each debit card payment to be for full amount.

In other words if you pay utility bill in sevearal small amounts to meet requirement,  you will lose all interest.
3
adityanmadityanm25 posts since
Jun 5, 2010
Rep Points: 157
1. Saturday, June 5, 2010 - 12:50 PM
Guess that they will not be too thrilled about the multiple gasoline purchases, either.

They are a small bank ($123 M), yet highly rated.  For small banks, they expect their RCA customers to use RCA as their primary checking account; i.e., banks need to make some money out of one's debit transactions and ACHs. 
4
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
2. Saturday, June 5, 2010 - 4:40 PM
Good thing is that TX CITIZENS now offers 5.01% in the same market. I just switched my account and bid farewell to Founders.
1
adityanmadityanm25 posts since
Jun 5, 2010
Rep Points: 157
3. Sunday, June 27, 2010 - 10:19 PM
I have to report that in spite of their threatening email, I did qualify for higher rate although I had split my bill payments.

I am now suspending any  transactions because I have moved my funds to WT DIRECT.
1
adityanmadityanm25 posts since
Jun 5, 2010
Rep Points: 157
4. Monday, January 24, 2011 - 5:05 PM
Just got this notice.

 

January 24, 2011
[H2]Personal Accounts Interest Rates[/H2] KASASA CASHAPY*Rates
Account Balance Tiers    
Qualifying Rate up to $10,000 3.51% 3.45%
Qualifying Rate above $10,000 0.65% 0.65%
Non-qualifying Rate 0.05% 0.05%
3
amexmaleamexmale6 posts since
Mar 21, 2010
Rep Points: 38
5. Monday, January 24, 2011 - 6:31 PM
Changed from (4.01%, $10K).  This is a relatively small cut comparing to some other recent cuts (at least 1% or more):D 
3
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
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