Thursday, September 1, 2011 - 5:50 PM

Security Bank Of Texas Rate Cuts

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 :(

saagar2 posts since
Aug 28, 2011
Rep Points: 7

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This post applies to the following states: TX.

Quick
Summary

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.

51hh1,136 posts since
Jan 16, 2010
Rep Points: 5,036

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.

pearlbrown1,153 posts since
Nov 2, 2010
Rep Points: 4,755