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DepositAccounts.com July 2017 Rate Trends
Are You Ready for a Cashless Society?DepositAccounts.com Milestone - Tracking Over 2,000 Banks and Credit Unions
We're now listing over 2,000 banks and credit unions in our rate tables. The 2,000 number is a milestone for us. In addition to reporting on this milestone, I thought it would also be useful and interesting if I review some of the features of DepositAccounts.com.
For each bank and credit union, we list multiple deposit products such as checking accounts, savings accounts and CDs. And each product can have multiple rates. The total number of deposit products that we're listing is over 59,000, and the total number of rates is over 95,000.
Each day our team checks the websites of the banks to make sure the rates are up-to-date. That saves me a lot of time. It also helps me to spot important rate changes.
This process isn't perfect, though, and when the banks make changes to their websites, it can occasionally slip by us. So if you see any problems with the rates, the best way to inform us is to use the "report an issue" link. This link is located on the top right of the "products & rates" tab of the hub page for the bank. Here's the products & rates tab for Ally's hub page. When you click on the institution name in the rate tables, it'll take you to this hub page.
If our team thinks there's a potential issue with rates from a bank, we will temporarily stop showing the rates for that bank. The rates will be re-listed once they're carefully reviewed.
If you want to find information on a specific bank or credit union, our Credit Union and Bank Reviews page can be used to search for that institution. That search feature will take you to the hub page for the bank or credit union.
All hub pages have at least an overview tab, a health tab with financial stats and a review tab where you can submit reviews and read reviews from others. If we're tracking the rates for that bank, we will also have a "products & rates" tab (if there is no temporary issue with the rates).
If there's a bank or credit union that we currently don't track and you think their rates should be listed, you can send us an email at feedback@depositaccounts.com. We give priority to banks and credit unions with competitive rates and with rates that are easily accessible from their websites. We want to continue to make DepositAccounts.com the best resource on the web for finding the best bank deals.
Bozo
The committment to 10 transactions a month drives additional spending; dollars that would otherwise not be spent.
For example, in the desire to complete all 10 transactions and qualify for a reward interest rate, a user will visit more stores (including internet stores) and purchase more items than would have been purchased without this reward committment.
Therefore the continued reduction of reward interest rates will be a contributor to the poor economic recovery.
For me as a reward checking account owner, I make a effort not to spend anything extra to meet RCA requirements; e.g., meet requirements via daily usage of gasoline, paying utility/insurance bill, etc. I am not sure whether I represent the majority of the RCA account owners though.
Thank you very, very much for all the help over the years.
And I'm glad to see that this has worked out well for you as a business.
Goldman Sacks adjustable rate preferred stock---4.5% yield and at floor and under par.
Bank of America--2 adjustable preferreds paying 5%yield and at floor and below par, BAC also has bunches of 8% pref's.
IF YOU TRUST THE GOV. AND IT'S GUARENTEES SO MUCH---take a look at Fannie Mae and Freddie Mac Preferreds.
actually i'm one of many i am sure, who does spend more in these reward accounts than the minimum. after all the bills are paid to complete the transactions, whatever left over i apply to small and medium (safe) purchases i might eventually need like extra printer cartridges, supplies, clothes, charity, dates, electronics, etc.
if the reward accounts get severly curtailed, i and many - i am sure - will clamp down on purchases, and just get the bare essentials. i'd expect this is just the opposite effect the economy needs.
Thanks again Ken, et all, and let's hope the small community banks who offer these benefits to consumers will be protected and able to thrive. (as well as all of us)
peace!
This used be a great blog for information on banking deals. Now, it's hardly even a blog.
I have been a constant user of your site for a long time. The new additions are great. Also, I really appreciate the new bank reviews with Texas Ratios, cap ratios, etc. Good luck and thanks.
Ken, you do a great job. Thanks!