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RCA Rate Cap Change

Saturday, January 8, 2011 - 11:10 AMBrookhaven Bank - Details
Brookhaven Bank in Atlanta, Georgia, has lowered the cap for the highest APY in its Elite Checking RCA to $15,000 from $50,000, according to its web site as of 1-3-11. APYs remain the same: 1.50% for amounts up to $15,000 and .50% for amounts above $15,000.
5
mwaldronmwaldron5 posts since
Feb 15, 2010
Rep Points: 16
1. Thursday, May 26, 2011 - 8:01 PM
 

Brookhaven bank sent mail explaining the changes to their elite checking account effective July 1st, 2011.
  • The rate is now 1.25% on the first 15k, 0.50% above that.
  • 10 debit card purchases and 1 direct deposit are no longer required for the premium interest rate.
  • E-statements are still required.
  • They will continue to refund 6 non-brookhaven ATM fees each month.
  • A service charge of $10 if your average daily balance is under $100 for the statement cycle.
1
AtlantaWolfAtlantaWolf38 posts since
Jan 16, 2010
Rep Points: 170
2. Friday, May 27, 2011 - 6:03 PM
I hate it when banks patronize their customers by calling the 1.5% RCA rate "premium interest rate." 
1
51hh51hh1,460 posts since
Jan 16, 2010
Rep Points: 6,348
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