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Security Bank Of Texas Rate Cuts

Thursday, September 1, 2011 - 5:50 PMSecurity Bank - Details
Hate being bearer of bad news, but Security Bank of texas cut its RCA rate to 2.97% from 3.23% and Real saver to 1.47% from 1.83. I just opened an account with them and am disappointed :(
3
saagarsaagar2 posts since
Aug 28, 2011
Rep Points: 8
1. Thursday, September 1, 2011 - 7:22 PM
They seem to cut rate at 0.26% at a time to soften the blow.  But lowering rate on a monthly basis (8/1, 9/1, ...) is concerning.
3
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
2. Friday, September 2, 2011 - 1:41 AM
@saagar No worries... there was an early heads up about the change on 8/24 from an anonymous poster:    http://www.depositaccounts.com/blog/2011/08/top-reward-checking-and-savings-combo-at-security-bank-texas-only.html

The gradual decrease in the rates has disappointed me as well.   The 2.97%APY is still worthwhile and at least the required number of transactions is very manageable.  DA's bank alert feature is useful for staying informed on news about this institution.
1
pearlbrownpearlbrown1,431 posts since
Nov 2, 2010
Rep Points: 6,248
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