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Deposit Accounts Says That Randolph Dropping APY To 2.25%

Sunday, September 18, 2011 - 11:47 AMRandolph Bank & Trust Company - Details
I received an email alert from Deposit Accounts on September 14 that Randolph was dropping their APY from from 2.5% to 2.25% (with the cap remaning at $25K).  The 2.25% rate is also included in the list of RCAs.  Yet Randolph's site says the rate is still 2.5%. I have also received no notification from Randolph that they are lowering their rate. 

I'm curious where Ken got his information, and when this rate drop is supposed to take effect.

Thanks for any help is answering my questions.
1
dunkerdunker136 posts since
Jun 11, 2010
Rep Points: 409
1. Sunday, September 18, 2011 - 1:02 PM
Looks like the bank updated their rate table but did not update their front page. We are pulling the rates from the bank's rate sheet at

Randolph Bank > Current Rates
1
Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,077
2. Tuesday, September 20, 2011 - 10:53 AM
Thanks Ken.  They finally updated their front page today to reflect the change to 2.25%.
2
dunkerdunker136 posts since
Jun 11, 2010
Rep Points: 409
3. Wednesday, September 21, 2011 - 10:18 AM
I think I've pretty much come to the feeling that anything under 3% for an RCA isn't worth my time, money or bother...not to mention the inherent risks in a lot of debit card usage.

If an RCA isn't going to do at least 3%, I'll take my money elsewhere, forego the FDIC protection and look for reasonably safe and stable income paying investments in the stock market.

I'm not quite out of the RCA business yet. But if things keep falling like they have been, unfortunately, it won't be long.

 
2
moneysavermoneysaver29 posts since
Jan 8, 2011
Rep Points: 249
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