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Texas Bank (TX) Reward Checking Rate Drop (4.0R,4.07APY) To (3.0R, 3.04APY) $25K Cap Unchanged

Friday, October 21, 2011 - 11:29 AMTexas Bank (TX) - Details
I check the website daily and noticed the rate change this morning.  It's not unexpected, as members of the 4% club have been dropping steadily.  However, when I called for confirmation and details, the new accounts staff was surprised because they had not been notified of the rate change. 

A reward qualification cycle just ended 10/11, current qualification cycle closes 11/8. 

I will post an update with more info as it becomes available.

 

 
2
pearlbrownpearlbrown1,356 posts since
Nov 2, 2010
Rep Points: 5,955
1. Friday, October 21, 2011 - 11:58 AM
CSR confirmed change is retroactive to the beginning of the current qualification cycle. 
2
pearlbrownpearlbrown1,356 posts since
Nov 2, 2010
Rep Points: 5,955
2. Friday, October 21, 2011 - 9:24 PM
Interesting how the local RCA table missed that update?
2
51hh51hh1,462 posts since
Jan 16, 2010
Rep Points: 6,352
3. Friday, October 21, 2011 - 10:07 PM
Ken would be the best one to speak to this, but I think DepositAccounts extracts and downloads rate information in the evenings, and the rate change at Texas Bank was made this morning.  That would explain why the local RCA table would not have reflected it.  The rate change will probably be picked up with the next extract/ download.
2
pearlbrownpearlbrown1,356 posts since
Nov 2, 2010
Rep Points: 5,955
4. Saturday, October 22, 2011 - 8:38 AM
Texas Bank's rates are updated now. The rate cuts were identified last night, but since they were significant in size (unfortunately), the rates were temporarily hidden pending review. I just did the review this morning.
1
Ken TuminKen Tumin5,442 posts since
Nov 29, 2009
Rep Points: 123,743
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