Monday, June 21, 2010 - 1:31 AM

Great Rates Don't Last Forever.

(5 stars)

City National Bank of Taylor, Texas, had some nice rates in their rewards checking. But as Ken the bank deals guy mentioned somewhere in this website, the rates just couldn't last forever. I didn't really have any problems with their bank with their rewards checking, except their rates just kept on dropping.

Sort of like EmigrantDirect of New York back six years ago. Great rates, then it's time to move on.

The limits on electronic transfer of $2,500 are the maximum. But it takes just a day wait or so with the approval of the staff at the bank, to move larger sums of money.

The only other thing that I had to work around was the lack of availability to make ATM deposits or withdrawals. I just could not do it. Their ATM network was not available any where close to me. So of course I needed to keep my local bank for regular banking stuff.

They have a great, friendly, helpful bank staff that answers the phone, and a solid bank performance balance sheet.

grnbsh5 posts since
Jun 20, 2010
Rep Points: 15

1. Monday, June 21, 2010 - 9:57 AM

Just to add for completness:

1. I am not clear that CNB ever had a great RCA rate. They keep cutting rate to a minimum (1.65% APY last time I checked). OP may have compared it as a savings account (like EmigrantDirect).

2. Thier debit card transaction policy is controversial, to say the least. http://www.depositaccounts.com/blog/2009/10/another-case-of-bank-discouraging-small.html

3. It follows the trend of some fussy small ($200M) banks: (1) imposing strict and abrupt debit card rules (e.g., using as primary checking or else!), (2) lowering interest rate drastically with lightening speed.

51hh1,033 posts since
Jan 16, 2010
Rep Points: 4,725