What Same-Day ACH Debit Means for You
Credit Unions on the Hunt for Small Banks
After the Equifax Debacle, Does Your Bank Have Your Back?
Is Your Credit Union a Part of the Shared Branch Network?Finding the Best Bank Rates and Deals
POSTED ON BY Ken Tumin
This post is intended to be a place where readers can let me know of bank and credit union deals they find. Many readers have left me comments or sent me emails about deals they’ve found. This is much appreciated! This help will be needed even more for the new year as it will be a busy year for me. I’m open to any bank deal although deals on deposit accounts are the easiest for me. The deal may be an exceptional CD or money market rate, or it may be a cash bonus for opening an account. I’ll include a link on the top right of this website that will always point to this post.
Just include the link to the deal in the comments of this post. If it’s a good deal that's new, I'll make a new post on it and give you credit. If you include a link to your website, I’ll include that link in the post. If you want to remain anonymous, simply comment as an anonymous user and/or email me at bankdeals at gmail dot com.
Please make sure to provide a link to the specific page of the deal at the bank’s website. If the deal is at a credit union, it would be useful to also include a link to the field-of-membership page. If the deal is not on the bank’s website, please include the source of the deal (i.e., a New York Times newspaper ad, a sign at a local bank, etc.)
Don’t worry about being absolutely sure that a deal is new and worthwhile. It’s often hard to find all the small print or to find if the deal has already been posted. One tip is to use the blogger search box at the top of the page and search this blog for the bank’s name. Another tip is that banks that offer specials often repeat similar specials in the future. So one way to find deals is to check out banks and credit unions that I mentioned in old posts.
You may find Googling for bank deals can be fun and challenging. If you’re looking for a 12-month 5% CD, you have to figure out ways to search that will exclude pages listing 5% loans or 5% 5-year CDs. Many people Google for fun at googlewhack.com. This site challenges people to find a googlewhack which is defined as a Google search for two dictionary words that result in one and only one search result. Searching for bank deals can be just as challenging, but a lot more useful.
In addition to Google, there are many websites that can be used to find the best bank deposit rates. However, none are complete. The biggest and best known is Bankrate.com. I have some problems with Bankrate.com. First, there are too many pop-ups. Second, they only include links to banks’ websites if the banks pay them, and third, they exclude credit unions and many banks. Below are a couple of links that I’ve found useful.
Just include the link to the deal in the comments of this post. If it’s a good deal that's new, I'll make a new post on it and give you credit. If you include a link to your website, I’ll include that link in the post. If you want to remain anonymous, simply comment as an anonymous user and/or email me at bankdeals at gmail dot com.
Please make sure to provide a link to the specific page of the deal at the bank’s website. If the deal is at a credit union, it would be useful to also include a link to the field-of-membership page. If the deal is not on the bank’s website, please include the source of the deal (i.e., a New York Times newspaper ad, a sign at a local bank, etc.)
Don’t worry about being absolutely sure that a deal is new and worthwhile. It’s often hard to find all the small print or to find if the deal has already been posted. One tip is to use the blogger search box at the top of the page and search this blog for the bank’s name. Another tip is that banks that offer specials often repeat similar specials in the future. So one way to find deals is to check out banks and credit unions that I mentioned in old posts.
You may find Googling for bank deals can be fun and challenging. If you’re looking for a 12-month 5% CD, you have to figure out ways to search that will exclude pages listing 5% loans or 5% 5-year CDs. Many people Google for fun at googlewhack.com. This site challenges people to find a googlewhack which is defined as a Google search for two dictionary words that result in one and only one search result. Searching for bank deals can be just as challenging, but a lot more useful.
In addition to Google, there are many websites that can be used to find the best bank deposit rates. However, none are complete. The biggest and best known is Bankrate.com. I have some problems with Bankrate.com. First, there are too many pop-ups. Second, they only include links to banks’ websites if the banks pay them, and third, they exclude credit unions and many banks. Below are a couple of links that I’ve found useful.
29 month CD - 5.00% APY $500 min, link
FOM
6% 1 yr no FDIC..
" Pacific Mercantile Banks " of California
5 Year C.D with an 5.10 % Interest
and 5.23 APY.
They claim to be FDIC insured
$5,000 min. deposit
Royal Bank America
http://www.royalbankamerica.com
Locations in PA/NJ
Rate also good at Royal Asian Bank locations in PA/NJ (including Ft. Lee, NJ)
Member FDIC
http://techcu.com/resources/news_events/news/certificate_promo.htm
"First Bank" 26 Chicago locations..
20 N Wacker Dr 312-236-3400
Never heard of this bank, looks like B&M only, could not find a website.
"First Bank" 26
Chicago locations..
20 N Wacker Dr 312-236-3400
I was able to find First Bank's website: www.firstbank.com. I posted on it here.
Thanks!
Ken
The catch is you have to make one purchase. No min purchase price. My wife and I both did this before Christmas and went out to eat for $15 each time. Not a bad return.
Also, you can cancel after that.
Anyway for the details....
This was in the paper last sunday (coupon section)
Limited-time offer: reply by March 15, 2006
http://www.apply.citicards.com
Enter promo code: F3A1
or you can call 1-800-514-8589
You must make the purchase within three months of account opening.
If you just sign up for the card (Diamond Preferred) without the promo code you will get enough points for a $50 gift card.
14 months 5.10% APY*
30 months 5.35% APY*
Established in 1921 Unified FCU is not-for-profit and member owned! Our members enjoy many benefits including excellent rates and terms, a full complement of products and programs, and the friendly service that has become our Halmark.
Unified FCU serves employees of our corporate sponsors, those working within a ten-mile radius of downtown Amesbury, MA (including southern New Hampshire) as well as members' families.
However, virtually anyone can now join Unified FCU through our relationship with the Wakefield Repertory Theater (WRT). Membership in this non-profit theater group qualifies anyone for membership at our credit union. To make matters easy, Unified will pay for the first year's annual dues of $15 to WRT and do all the necessary processing. Once you are a member of Unified, there is no obligation to continue membership at WRT (though WRT may continue to be of interest to local theater enthusiasts). Remember new members are always welcome at Unified FCU! http://www.unifiedfcu.org/CD_specials.htm
Saw this good offer on FW and open to everyone. Looks very easy to open online and they are a nice size bank at over 3 Billion in assets and Bankrates Safe&Sound them 4*.
https://www.dimedirect.com/6mocd5.htm
http://www.fatwallet.com/redirect/bounce.php?afsrc=1&url=http://www.banking.us.hsbc.com/HICServlet?cmd_ViewDepositRates=&accept-language=en-us
60 month CD - 6.4%APY
AT HUDSON CITY SAVINGS
Money Market Checking - 4.00% APY*
91 Day CD - 4.10% APY*
6 Month CD - 4.50% APY*
2 Year - IRA only - 5.00% APY*
* Annual Percentage Yield
http://www.sjfcu.org/loans.html
Second, there's a $25 account opening bonus at HTH Worldwide Bank. You can open either checking or savings with $50 minimum, no fees. You can also fund it with a credit card (no cash adv fee) to generate additional points. See details at: www.hthworldwidebank.com
tuphat, thanks for the feedback and for the HTH bonus info. Refer to my previous post for more info.
And thanks anonymous for the UmbrellaBank rate update. I posted on this here.
I read your web site on daily bases.
Thanks for the news, shortcuts, info and current bank deals.
However, concerning Virtual bank, I have a bad news to report to you.
First, Las week I did an ACH from outside bank directly into Virtual eMoneymarket account.
Waited 5 days for the money to show up in my account and nothing happen.
Second, I called customer service today to inquire about the incoming ACH and why the funds are not credited yet.
Their explanation: It was a bank holiday on Monday and there is delay in posting.
Third, I called the originating bank to find out when actually the money went into Virtual Bank ACH
credit department. Answer: "On Friday the 17th 2006".
I called Virtual Bank again with the new info and this is their explanation:
"Your ACH came in as a credit to money market or saving account and therefor, we can not credit your account with this ACH and are sending it back to the originating bank"....bla...bla... and at the end
the Virtual bank rep. said: O by the way, all eMoney market accounts at Virtual bank are CHECKING
ACCOUNTS and you must send your ACH to Virtual Bank as an ACH to credit of the checking account
number".
It was a substantial amount of money in that ACH and I'm out of interest for 7-10 days, since Virtual Bank
kept the money in the general float (account) without even notifying me about.
According to Virtual bank rep. believe, the money might be back to the original bank by next Monday or Tuesday ......I'll believe that when I see it.....
Sincerely,
Your fateful site reader.
is structured to go into a CHECKING account, i.e. eMoney Market is classified as regular checking
account and not a saving or money market as per Virtual Bank employee and or supervisor I spoke with.
Thanks for the valuable info on your web site.
thanks..
Sending a check can be the best way to minimize days of lost interest. ... I open new accounts by just mailing a check and continue getting interest till it is taken out and on some occasions even get a day or two of overlapping interest from both banks. Have learned ACH transfers are not good and is not really the banks fault.
213 Main Street
Fort Lee, NJ (North Jersey/NY Metro)
"grand opening special" (not on website, ad in paper and big sign in window at branch). Can call 201.944.1712.
5.00% (APY) 12 month CD
$1,000 min. - no maximum
must also open a checking account (Free checking account options are available, as is NJ Consumer Checking)
FDIC insured
...also have a 3.55% (APY) interest checking account w/$10k min.
It seems HSBC has added bank to bank transfer.
Citi Simplicty Rewards Card
- Apply http://apply.citisimplicity.com (Enter Offer Code F2B5)
- or you can call 1-800-375-8078
** This one expires 04/15/2006
You can cash your points in for that or save them for something else. They are offered through the Thank You Network [http://www.thankyounetwork.com]. You can see what they have to offer there.
-Ken
Cash Plus Rewards Mastercard.
* $100 cash back check after your first purchase
* Earn 5% cash back on qualified grocery store, gast station, drig store purchases and 1% on all other qualified purchases
* Redeem your cash back points for gift certificates at your favorite merchants or a cash back check
* Enjoy a 0% into APR for up to 12 months
* The time period for the into APR and the balances to which it will apply will be based on our review of your application and credit history.
* No annual fee
- Looks like this one is phone only.
Phone: 1-888-787-0329
Offer Code: 93Y
Expires: April 30, 2006
** Please allow 6 to 8 weeks after your first purchase for bonus points to post to you account. Bonus points are contingent on account opening and first purchase. You will receive 10,000 bonus points, which can be redeemed for 1% cash back or a $100 gift certificate.
Anonymous, thanks for posting the AA CU 7.19% CD deal. Due to its $1K limit, I'm not sure if it would be worthwhile for people to join this CU just for this deal. Over 7 months, it would be about $13 over what a 5% CD would earn.
La Jolla Bank
Located in San Diego, CA
6 Months CD
interest rate 4.60% APY 4.70%
60 month CD 5.64% APY $5,000 min
link FOM
Thank to you, I am warming up to the Bank Deals search, and I already left a couple of them here, including the 5.64% 60-month CD. Here is another interesting IMO deal at West Suburban Bank, IL:
Gradual Withrawal CDs
With West Suburban Bank’s 5-year, 5.5% CD, you can withdraw up to 20% of your original investment every year. We also have a 2 1/2 -year, 5.0% CD with a withdraw option every 6 months. All you need to open a WSB high-interest CD is a WSB checking account and $5,000 minimum deposit. The Bank has 4 stars from Bauer Financial.
Regards,
Victor R..
The Middlesex Bank deal posted on 3/15 applies only to Mass. residents. That is noted on their website and their 800 number has a recording to that effect.
Dear Banking Guy,
Here is another deal at a small bank called RAVENSWOOD BANK, IL.It's not advertised at their site, but from several search engines, and from an e-mail exchange with them, I've got the same rate of 4.88% for their INVESTOR MONEY MARKET ACCOUNT requiring $50K min. They told me that they accept applications from other states. The rate = 13week Treas. + 0.25. The bank has 4 stars from BAUER FINANCIAL.
Regards,
Victor.
Thanks, Ken
I think the text below contains the info you're looking for. This is a 'cut and paste' version of some parts of the RAVENSWOOD's reply to my query.
INVESTOR MONEY MARKET ACCOUNT
· $2,500.00 minimum daily balance requirement or a $25.00 monthly fee is assessed.
· Balances below $50,000.00 will earn at the rate of the Individual Statement Savings Account.
TRANSACTION LIMITATION – One withdrawal per calendar month are allowed at no charge. There is a charge of $25.00 per withdrawal for each withdrawal in excess.
There is a $50.00 fee assessed on the account for the first 90 days closure. Balances over $500,000.00 will be paid at the rate of the Individual Statement Savings Account.
Regards,
Victor.
Hello Ken,
How are you doing? Crestmark Bank in Troy, MI is offerning 5.20%APR CDs for terms of 1-year to 5-year.They also have several CDs with less than a year maturity. Here is a part of their CD table in which minimum deposits for all the types is $25K.
90 days 4.90%
180 days 5.05%
270 days 5.15%
The bank has a Bauer Financial Rating of 3 stars.
Regards,
Victor.
There are no business requirements at CRESTMARK bank, and the individuals can buy their CDs from them. At least, that's what their CD administrator wrote to me in his e-mail.
Victor.
Found the Citi add this morning...
http://direct.citibank.com/CBOL/06/esavings/default.htm?Promo_ID=CSAL&BT_TX=1&ProspectID=EC345AF89E714E7D88199723AED8A3E0
Anonymous, thanks for the note on Citibank. I've posted on it here.
Ken--
SC State Credit Union is offering two interesting CDs,
one, 4-year, 5.41%APY - and another 5-year 5.51%APY.. The SC SCU has a charter number 60919 to look up their info at NCUA database.
Victor.
MEGA CD's
13-Month CD 5.30% APY*
10-Month CD 5.10% APY*
6-Month CD 4.90% APY*
MEGA MONEY MARKET
No teaser rates ... they're the real deal!
For balances of
$1 million or more
4.50% APY*
For balances of
$100,000-$999,999
4.25% APY*
For balances of
$25,000-$99,999
3.51% APY*
To take advantage of these great rates, you just need to open the account with funds from another financial institution and have or open a VCB checking account. Count on Virginia Commerce Bank for top-tier rates and truly exceptional service.
Community Banking at its Best!
703-534-0700
* Annual Percentage Yield (APY) accurate as of March 28, 2006 and subject to change. CD minimum opening deposit is $15,000 for all terms and a penalty may be imposed for early withdrawal. These CDs and our MEGA Money Market Account are available for both businesses and consumers. IRA CD’s are for consumers only. The MEGA Money Market interest rate earned is variable and based on the following balance tiers: $1,000,000 and higher earns 4.50% APY; $100,000 to $999,999 earns 4.25% APY; $25,000 to $99,999 earns 3.51% APY; less than $25,000 earns 1.00% APY. Maintain a $2,500 minimum balance to avoid a $10.00 monthly maintenance fee. Transaction limits apply. Fees could reduce earnings. To qualify for these promotional offers, new VCB checking account opening deposit must be at least $1,000. Ask for details. Member FDIC.
www.tenetcu.org/personal/accounts/index.html
TenetCU is offering a limited-time 10% Annual Percentage Yield (APY) Share Certificate* to all Tenet employees and their family members. All you need to do is open a new TenetCU Checking account with a minimum $500 payroll deposit per pay period and a minimum opening Share Certificate deposit of $500**.
*Limit one 10% APY Share Certificate per checking account holder. Offer valid 2/1/06 and is subject to change without notice. New TenetCU checking account is subject to ChexSystem verification.
**One year, non-renewable term (penalty for early withdrawal). Additional deposits can be made in $100.00 increments throughout the term (dividends accrue from date of deposit) to a maximum deposit of $2,500. Must be opened within 30 days of opening your TenetCU Checking Account.
The 10% CD is maxed at $2.5K for a 1-year CD. But this nets you an extra $125 (over a 5% 1-year CD) which is a decent deal.
Ken,
SRP Fed CU, SC is offering
5-YR,5.64%APY,$500-min CD. FOM is limited to several SC counties.
Victor.
Details http://www.national1st.org/WebFederal.asp?Cabinet=Home&Drawer=Main&Folder=About+Us&SubFolder=News#promo
Min./Max. Deposit
Term
Rate
APY*
Maximum Amount Earned
$5,000 to $100,000
24-months
5.25%
5.39%
Up to $11,070
Interesting to see National1st Credit Union has another nice CD promo. It's not as nice as the 7.25% promo, but it's a very competitive rate.
About Dime Bank, I've added a comment about this limitation with the post. Thanks!
http://www.paragonfcu.org/promos.htm
Ken,
World savings is offering a 5-month 5.01%APY, new money only,CD now. Looks like one can apply on-line. At least they have the "Apply Now" button there.
Victor.
John, thanks for the Paragon FCU CD note. Another important note about the 8% is that the max deposit is $2K. Compared to a 5% CD for one year, that's only about $60 extra. But that's not too bad.
I'll be posting on these tomorrow. Thanks!
Hello Ken,
An old friend Medows CU is offering now a 5.12% 6-month, new money only, $1K min CD.
Best Regards,
Victor.
Ken,
Bank of Internet is now offering what they call The perfect CD ladder, with CDs maturing from 12 to 60 months, and 5.16%APY, $1K min. each.
Victor.
2 Variable Rate CDs.
http://www.nittanybank.com/
The First National Bank of Ipswich had an offer in the Boston Globe on 4/9/2006 for a 10 month 5.25% CD with only a $1,000 min. Offer will be good from 4/12-4/16 only. Not sure if you must go in but they have branches in Boston and north of Boston
Earn 6.00% APY* with our Special 7-Month Certificate1 on $2,500.
This offer is limited to your first Certificate Account.
One account per member with new money only †.
Earn 5.00% APY* with our Special Money Market Account2
for 6 months up to $2,500.
This offer is limited to your first Money Market Account.
One account per member with new money only †.
($1,000 minimum to open)
Not yet a member?
> Apply now for CCCU Membership to take advantage of special offers!
Already a member?
> Download the form to open your account.
*APY = Annual Percentage Yield assumes that dividends remain in the account until maturity.
†New money is money that is not already on deposit at CCCU. Funds on deposit can not be withdrawn and re-deposited in order to obtain the Certificate and Money Market Account. CCCU reserves the right to make the sole judgment as to whether or not the deposited funds are considered new money.
1. A $2,500 balance is required for the Special 7-Month Certificate which will earn 6.00% APY. A penalty will be imposed on early withdrawals from certificates.
2. Minimum deposit to open is $1,000. Special Money Market Account earns 5.00% APY for six months on balances between $1,000 to $2,500. Balances that fall below $1,000 or balances over $2,500 and after the six-month introductory period will earn the current variable Money Market Account APY. Unlimited withdrawals from the account, if made by mail or in person and payable directly to you. Withdrawals or transfers made by mail or in person and payable to a third party are limited to six per calendar month (3 can be by check). There is an $8 monthly fee on Money Market Accounts when the daily balance falls below $1,000 any time during the month.
Account rates and terms effective 04/09/06 and are subject to change without notice.
61 month 6.00 % APY CD -- $2500 minimum to open.
anonymous, Thanks for the 6% CD posts. The 6% CD at Telcom is particularly good since it doesn't have a maximum deposit limit and that CU has an easy FOM. I've posted on it here.
(800)442-4996
Thanks for the Corus Bank update. Their 1-year 5.23% is just behind UmbrellaBank's 5.25%.
36-Month Cerificate Min. Dep. $1,000 5.346% 5.454% APY
Min. Dep. $50,000 5.360% 5.469% APY
http://www.pacificresourcecu.org/site/savings_rates.pdf
Hello Ken,
How are you doing? Here is an interesting IMHO deal at Sharonview Federal Credit Union, Charlotte, NC: 6.25% APY variable rate 60-month CD with $500 min. This Variable rate = Prime Lending Rate minus 1% as listed in the WSJ on January 1 and July 1 of each year during the 5 year term. Unfortunately, it looks like their FOM is limited to some employers. Sharonview has a 5-star rating from Bauer Financial.
Regards,
Victor.
Yesterday I had notice new GMAC rates were being posted at Bankrate before GMAC's website was changed. I had thought we would see these changes officially today.
Link to offer: https://www.oneunited.com/OnlineBanking/OpenAccount.asp
Link to TIS disclosure: https://www.oneunited.com/disclosures/Online%20Truth%20In%20Savings%20Disclosure.pdf
https://www.macdill.org/loancenter/rates.cfm
Rate Not listed online.
http://www.shbamerica.com/
5.5 apy 1 year.
This is a Korean based bank, but is FDIC insured. Not sure if you have to go to a branch , but they have 2 in NYC and some in Queens.
Good luck.
And thanks, procol, for the 5.50% CD info. I emailed the bank for additional info, and they were quick to reply. I posted on it here.
has APY of 6% on 3, 4 and 5 year
cds.
Here is the link.
https://www.penfed.org/productsandrates/checkingandsavings/moneymarketcertificates.asp
http://www.inbk.com/rates.html
:(
-----------------
We are writing to let you know that beginning May 1, 2006, your HSBCdirect Online Savings Account rate will change to 4.50% APY**. This is one of America's leading rates and still 8x the national average*, so you can continue to watch your money grow.
With HSBCdirect.com, there are no fees, no minimums, no lock-up period, and your money is FDIC insured.† You can stay confident your money is in the right place and earning the most it possibly can.
Add more money to your HSBCdirect Online Savings Account today at www.hsbcdirect.com and make the most of your savings.
Thanks for growing your money with HSBCdirect.
Your HSBCdirect Customer Service Team
One thing to note is that they went down a lot less than ING Direct did (0.30% vs 0.75%)
30 Days - 4.85% APY
60 Days - 4.95% APY
90 Days - 5.04% APY
180 Days - 5.17% APY
It appears that UFB Direct is running a 5% promo for all new customers on their Jumbo Money Market account. The only Jumbo that I have seen with a $50K minimum balance. I know their rating isn't the greatness, but realizing that rating is due to the parent bank, I would be willing to give UFB Direct a shot - their rates have consistently been high.
Calls to Wendy or Dinelle, 609-750-0200
3 Month CD 4.75%
[B]6 Month CD 5.21%[/B]
[B]1 Year CD 5.30%[/B]
2 Year CD 5.30%
3 Year CD 5.30%
5 Year CD 5.35%
Thanks for the Zions Bank info. I've posted on it here.
has a $100 dollar bonus- National City Bank and it is online but requires direct deposit.
Thanks for the MetLife Bank rate update. I posted on it here.
For the Nittany Bank 5% savings account deal. Thanks. I posted on that here.
9 month CD 5.25% APY*
is still active. 609-750-0200
www.1stconstitution.com
>>Thanks for the info on FCCY. Is this 5.25% CD still active? The bank's home page states that the offer expires 4/15.
By Banking Guy, at 4:37 PM, April 17, 2006
Interest Checking with Direct Deposit required
Limited offer, ends July 31
Exclusively at the HSBC Penn Station, NY branch at West end of LIRR Concourse
min to open $2500
max balance on CD deposit $100,000
Please post all new deals you find here. Thanks.