Friday, February 19, 2010 - 6:37 PM

Incredible Bank Cuts Checking Account Rate

The 2.02% APY lasted just over 3 months. It was cut today to 1.74% APY. At other banks I haven't seen internet checking account rates hold up well. We'll see how this one does. Will it become the Incredible Shrinking Bank?

Refer to my Incredible Bank review for more details.

Thanks to the readers for their comments and emails about this rate cut.

KenBDG4,048 posts since
Nov 29, 2009
Rep Points: 106,905

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This post applies to all states.

Yield as of 12/08/2010:

1.35% APY for balances of up to $250K

Quick
Summary

1. Wednesday, December 8, 2010 - 9:10 AM

Just over 3 months since the last rate decrease announcement, rcvd this morning -

A Rate that Packs a Punch

Thank you for choosing Incrediblebank for your banking needs. We wanted to let you know that your online checing account rate was adjusted to 1.35% APY as of December 8, 2010 for balances $.01 to $250,000. Accounts with balances $250,000.01 and over will earn .80% APY. With no monthly fees or minimums* and a rate that still packs a punch, your online checking account remains a competitive option in the marketplace.

Thanks again for being an Incredible customer!

Sincerely,
Your Incredible Team
877.261.4750.

*Annual Percentage Yield (APY) for the online checking account is accurate as of 12/8/10. APY is variable and subject to change. Minimum deposit to open is $1000.

CraigPD85 posts since
Jun 12, 2010
Rep Points: 298