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Wednesday, October 26, 2011 - 2:56 PM
(2 stars)
Must Be Primary Checking Account
Coppermark Bank (2 stars)I am glad I called to get more details on this account. The account exec told me 2 things that I wanted to pass on to others considering this account. First, is they can change their rates whenever they wish and don't have to forewarn you like on the previous statement. Second, the bank monitors these accounts to make sure you are using them as a true primary checking account. The rules are not written but if you plan to keep your balance near the upper limit, make just your required debit card purchases and direct deposit/bill pay, then they will say you are using it more like a savings account then your primary checking account and will switch it to one of their non-high interest accounts.
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3. Wednesday, December 21, 2011 - 9:42 AM
On behalf of Coppermark Bank, thank you for your interest in our Free High-Interest Checking account. This is an account with two interest rate tiers, and the rates on this account have not changed since it was introduced in 2009. To obtain the higher rate each month, you must meet all of the account requirements, which you can find on our fliers, advertisements, and website at www.coppermarbank.com/FHIC. Any month when the requirements are not met, the account will earn the lower rate. As stated in our disclosures, the rates for all interest-bearing deposit accounts are subject to change at any time. This is because factors that affect these rates change without notice. Please call us at 800-942-2930 if you have any questions about our Free High-Interest Checking account or if you would like to discuss your specific situation in more detail.
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4. Wednesday, December 21, 2011 - 10:45 AM
However, you missed the crucial point that this account needs to be used as "primary checking account" and define it exactly what you mean by that.
Thus, quote from my other post on your bank:
"Looking at the review, I would not get near this bank even it is the last one on earth:D
Using it as a primary checking... that is both vague and risky, IMO. There are tons of other banks/credit unions who treat their customers with decency and respect; not monitoring/policing them like a hawk!!"
On behalf of Coppermark Bank, thank you for your interest in our Free High-Interest Checking account. This is an account with two interest rate tiers, and the rates on this account have not changed since it was introduced in 2009. To obtain the higher rate each month, you must meet all of the account requirements, which you can find on our fliers, advertisements, and website at www.coppermarbank.com/FHIC. Any month when the requirements are not met, the account will earn the lower rate. As stated in our disclosures, the rates for all interest-bearing deposit accounts are subject to change at any time. This is because factors that affect these rates change without notice. Please call us at 800-942-2930 if you have any questions about our Free High-Interest Checking account or if you would like to discuss your specific situation in more detail.Thanks for your general information about your Free High-Interest Checking account.
However, you missed the crucial point that this account needs to be used as "primary checking account" and define it exactly what you mean by that.
Thus, quote from my other post on your bank:
"Looking at the review, I would not get near this bank even it is the last one on earth:D
Using it as a primary checking... that is both vague and risky, IMO. There are tons of other banks/credit unions who treat their customers with decency and respect; not monitoring/policing them like a hawk!!"
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