10-Month CD and Money Market Specials at Seacoast Commerce Bank - Available Nationwide


Update 1/5/2014: These specials have ended.

Seacoast Commerce Bank is again offering a CD and money market promotion. They are part of a celebration of the bank’s new branch, but I was told these promotions are available nationwide. Both require a substantial minimum deposit. The CD has a 10-month term and a 1.10% APY. Minimum deposit is $50,000. The second deal is a money market account with a 1.00% APY for balances over $50,000. According to the account disclosure, this 1.00% APY is guaranteed to last until September 30, 2014. The rates for smaller balances are much less so if you don’t think you can maintain the $50K balance, this deal won’t be worth it. These specials are listed in the bank’s rates page as of 12/10/2013. Thanks to the DA reader who emailed me news of this promotion.

On the top right of each page of the bank’s website, there’s an "Open an Account" link that points to a page that describes what’s required to open an account. There isn’t an online application. Applications can be sent by fax, secure email and by mail. It says "To expedite opening your new account call: (877) 531-5745 for assistance." I called this number yesterday, and the phone was answered immediately by a CSR. She quickly connected me with a CSR specializing in account opening. I was impressed by that CSR’s knowledge and friendliness.

The APY for the Grand Opening MMA is guaranteed through September 30, 2014 on balances of $50,000 and over.

The CSR confirmed that these grand opening specials could be opened by people from any state. She said that these specials will very likely remain available at least through the end of the year. You can fund the accounts by either mailing a check or a wire transfer. They do allow POD beneficiaries with an unlimited number of beneficiaries. No social security number is required for the beneficiaries.

It will be easier to open account at one of the bank’s branches. Seacoast Commerce Bank branches are located in San Diego, Chula Vista and Glendale, California.

The bank has an overall health grade at DepositAccounts.com of an A+ with a Texas ratio of 2.20% (excellent) based on September 2013 data. Please refer to our financial overview of Seacoast Commerce Bank for more details. The bank has been a FDIC member since 2003 (FDIC Certificate # 57428).

How These CD and Money Market Rates Compare

The highest 9-month CD rate that’s nationally available is 0.91%. Ally Bank’s 11-month No-Penalty CD has a 0.87% rate. Since there’s no penalty, the term can be anything from 7 days to 11 months.

The highest money market rate nationally available is 1.15% APY for balances of at least $100K at Connexus Credit Union. This requires an active checking account with direct deposit. Without the checking requirement, four banks are offering 1% APY on their savings or money market accounts. Two of these banks, SmartyPig and MySavingsDirect, have no minimum balance requirements for their savings accounts. EverBank has the best nationwide deal with a rate guarantee. New customers can get a 1.10% rate guaranteed for 6 months on EverBank’s checking account ($100K max) and money market account ($50K max).

These rates are accurate as of 12/10/2013.

To search for the best savings, money market and CD rates in the nation and in your state, please refer to the menu on top of the DepositAccounts.com website.

Mike (anonymous)   |     |   Comment #1
No ACH system, going backwards to paper application, high balance for just 1%, it is a no go for me..
km (anonymous)   |     |   Comment #2
Will they accept ACH in/out initiated from other banks?
Fred1 (anonymous)   |     |   Comment #3
They may accept ACH IN, but the money will not be available for 3-5 business days or more if there is a holiday in between.
kmand (anonymous)   |     |   Comment #4
But not ACH out at all?
Anonymous   |     |   Comment #5
fyi, 10 month promo, APY guarantee, ended on 12/31.
Special 9-Month CD and Money Market Rates at Seacoast Commerce Bank - Available Nationwide

Update 8/1/13: These specials are no longer listed on the bank's website.

It has been a while since I last reported on Seacoast Commerce Bank. I’m happy to see it’s back with some competitive rates. The bank is celebrating its 10th anniversary with two good deposit deals. The first is a CD with a 1.10% APY. It allows customers to choose a term from 9 to 12 months. Minimum deposit is $50,000. The second deal is a money market account with a 1.00% APY for balances over $50,000. This second deal...

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Competitive CD Rates at Seacoast Commerce Bank in CA - Available Nationwide

Seacoast Commerce Bank is offering some competitive rates on its Bank by Mail CDs. The most competitive is the 2-year CD with a 2.00% APY. Others include a 2.35% APY 3-year CD and a 2.65% 4-year CD. Minimum deposit is $10,000. You can find higher rates at other banks, but one nice feature of these CDs is a below-average early withdrawal penalty of 3 months of interest. Also, rates in California have been below average, so compared to rates at other CA banks and credit unions, these are competitive.


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2.05% Money Market Account and 2.28% 12-Month CD at Seacoast Commerce Bank in CA - Nationally Available
Update 11/14/09: The rates have fallen. Investor Money Market rate has fallen from 1.50% to 1.00% APY. CD rates have also fallen. Please refer to the bank's website for the latest rates.

Seacoast Commerce Bank is offering some competitive rates on its Internet Investor Money Market Account and on its Internet CDs. The rates and account overviews are described in the bank's internet account page as of 6/26/09.

The MMA has a 2.05% APY for balances over $25K. You probably won't want this account if you don't intend to keep a balance...

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