About Ken Tumin

Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.

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Maine Highlands FCU Offers Competitive Short-Term IRAs
Availability: Residents of the Maine communities of Brighton, Cambridge, Charleston, Corinna, Dexter, Exeter, Garland, Harmony, Mayfield, Ripley, Rockwood, Stetson, and all of Piscataquis County.

Maine Highlands Federal Credit Union (MHFCU) is offering 1.26% APY on its IRA Certificates - that would be its 3-, 6-, 9-, 12-, 15-, 18-, 24- and 36-month IRA Certificates (Traditional, Roth, and CESA). The minimum opening deposit is $500, with no stated balance cap.

According to CSR, the Early Withdrawal Penalty for any of the IRA Certificates is “90 days of dividends, whether earned...

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Open A PNC Bank Virtual Wallet And Earn Up To $300

UPDATE 8/24/2016: Extended through August 31, 2016.

Availability: AL, DE, FL, GA, IL, IN, KY, MD, MI, MO, NC, NJ, NY, OH, PA, SC, VA, WI and District of Columbia.

PNC Bank is again offering a variety of bonuses in connection with its Virtual Wallet product line. New checking accounts, opened between now and June August 31, 2016, can earn $50, $200, or $300, depending on which Virtual Wallet account is opened.

As stated on PNC Bank's Application Checklist page, initial funding can be made by debit or...

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Eastman Credit Union (TN/VA/TX) Raises Rates On 1-Year CDs
Availability: Residents of seven Tennessee, eight Virginia, and two Texas counties; a variety of SEGs.

Last week, Eastman Credit Union (ECU) raised the rates on its 1-2 Year Investment Certificate (1.30% APY, $1k minimum) and 1-2 Year Jumbo Investment Certificate (1.40% APY, $100k minimum). These new rates are the highest for both Certificates in more than five years

As stated on ECU’s Investment Certificate page, the Early Withdrawal Penalty is “90 days dividends.”

Availability

Headquartered in Kingsport, Tennessee, Eastman Credit Union’s field of membership is primarily residency based,...

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Best Bank Account Interest Rates - Summary for August 23, 2016
Best Bank Account Interest Rates - Summary for August 23, 2016

Last week’s release of the minutes from the Fed’s July meeting failed to make it clearer on whether the Fed will hike rates at its September 20-21 meeting. The next big potential clue will be Fed Chair Janet Yellen’s speech on Friday at the Jackson Hole Symposium. It’s doubtful she’ll provide any clear signs of the Fed’s direction. Some Fed officials have hinted in speeches that September is on the table for a rate hike. As mentioned in this Wall Street Journal article, if the Fed chair sounds hawkish at...

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Farmers Bank & Trust (AR) Offers Kasasa Cash In 7 States
Availability: Market area is Arkansas, Louisiana, Mississippi, Missouri, Oklahoma, Tennessee, and Texas.

Farmers Bank & Trust (FB&T) recently added a Kasasa Cash account to its product line, replacing its True Rewards Checking account. The Kasasa Cash earns 2.01% APY on qualifying balances up to $25k, with qualifying balances over $25k earning 0.40% APY. Non-qualifying balances earn 0.05% APY.

Kasasa Cash Qualification Requirements

  • At least 10 VISA® Debit Card purchases.
  • At least one Direct Deposit or one ACH auto debit/credit.
  • Be enrolled in and receive eStatements.
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Earn $200 Checking Bonus At BMO Harris Bank
Availability: Market area includes Arizona, Florida, Illinois, Indiana, Kansas, Minnesota, Missouri, Washington, and Wisconsin.

You can earn $200 when opening a new BMO Harris Bank Everyday Checking, Select Checking, or Portfolio Checking account. This promotional offer is valid now through August 30, 2016.

Requirements

  • Use or mention the promotion code when opening the new checking account.
  • Have at least one recurring qualifying direct deposit of $300 or more on at least a monthly basis.
  • Initial direct deposit must be received within 60 days of new account opening.
  • Qualifying direct deposits are defined...
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Hughes FCU Offers Nationally Available 29-Month CD
Availability: Easy membership

In January, Hughes Federal Credit Union (Hughes FCU) raised the rates on all of its CDs, and at that time I wrote specifically about the 36-month CD, which has maintained its increased APY.

Hughes FCU is currently offering three different competitive 29-month CDs. While some credit unions have tiered APYs based on deposit levels for individual CDs, Hughes FCU has opted to have three categories (CD, $1K+; Mini-Jumbo CD, $50K+; and Jumbo CD, $99K+) for each length-of-term CD.

As stated in Hughes FCU’s Truth...

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American Eagle Financial CU (CT) Has $200 Checking Bonus
Availability: Residents of Hartford, Middlesex, New Haven, and Tolland Counties, Connecticut.

Now through September 10, 2016, American Eagle Financial Credit Union (AEFCU) is offering a $200 bonus when opening a new AEFCU checking account.

$200 Bonus Requirements

As stated on the promotion page, the following conditions must be met within 60 days of account opening:

Limitations

  • New checking accounts must be opened between August 1 and September 10, 2016.
  • Members who have an existing checking account, or have had a checking account within the past 365 days, are not eligible...
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Companies Behind Online Banking - MeridianLink
Companies Behind Online Banking - MeridianLink

This is the fifth in a series of articles on the companies behind online banking. Last week we profiled D+H. This article features MeridianLink.

MeridianLink: Making Account Opening Easy For Consumers and Cost-Friendly for Institutions

Technology’s gift is that it can increase efficiency and reduce costs. MeridianLink, which was founded in 1998, developed the first multi-channel account opening and loan origination platform. More than 20,000+ financial organizations take advantage of the company’s array of products and software.

Take for example, MeridianLink’s XpressAccounts, which makes it possible for people to...

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SunTrust Bank Has New Checking Bonus, Up To $250
Availability: U.S. residents in AL, AR, DC, FL, GA, MD, MS, NC, SC, TN, VA, and WV.

When I saw that SunTrust Bank (SunTrust) was promoting a checking bonus, I assumed it would be the same promotion I had been writing about for the past year. I was pleasantly surprise to discovered that SunTrust has re-worked the bonus, which now has a maximum potential value of $250 when opening a new Essential or Select Checking account.

As stated on the promotion page,

*SunTrust defines a qualifying Direct Deposit as follows:

Limitations

  • Each...
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Fourth Bank Failure of the Year - The Woodbury Banking Company
Fourth Bank Failure of the Year - The Woodbury Banking Company

The fourth bank failure of 2016 occurred on Friday. The Woodbury Banking Company in Georgia was closed by state regulators, and the FDIC arranged for United Bank to assume all of the deposits. The Woodbury Banking Company was small with only one branch and $21 million in deposits.

The last bank failure was on May 6th. The trend of fewer bank failures continues. Last year only eight banks failed. In recent times, 2010 had the most bank failures (157). Each year after 2010, fewer banks have failed.

The closure of The Woodbury...

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First Trust & Savings Bank (IL) Offers 16-Month CD Special
Availability: Market area includes Rock Island and Whiteside Counties, Illinois.

First Trust & Savings Bank of Albany, Illinois (FTSB) is currently offering two CD Specials: 13-month (1.10% APY) and 16-month (1.60% APY). Of the two, the 16-month CD Special is the more competitive, by far.

The minimum opening deposit for the 16-month CD Special is $1k, with no stated balance cap. Although FTSB’s other non-special CDs have tiered rates, the 1.60% APY applies to all of the 16-month CD Special's balance levels.

As stated on FTSB’s Deposit...

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