Rates Comparisons

clycett | Mar 12, 2019 | 4 posts since 2019

How are rates being gathered and verified before they are posted here?

Answers

AnnO | Mar 13, 2019 | 129 posts since 2018

The rate tables are collected automatically by Ken's software visiting each bank's rates webpages. Community discussion posts are shared by individual people who notice something interesting in the rate tables changes, or by manually checking their local banks' websites/Facebook/ads for things Ken's software doesn't yet monitor.

clycett | Mar 27, 2019 | 4 posts since 2019

How often are bank rates checked and updated?

AnnO | Mar 28, 2019 | 129 posts since 2018

Looks like daily. From a 2017 press release:

"Deposits Online, LLC, operates DepositAccounts.com, the largest and most comprehensive online publication in the United States dedicated to providing bank deposit account information for consumers. It covers all 11,500+ federally insured banks and credit unions and utilizes its patented technology to daily track and update more than 270,000 consumer deposit rates. The site features more than 12,000 editorial articles detailing creative depository strategies and highlighting current bank rates and offers. It is also home to one of the largest communities of depositors on the Web, hosting more than 120,000 comments, customer reviews, and forum threads."

Once a day checking on what is now 'approximately 12,000' (from the about page) banks/CUs means the software is checking one bank/CU website (often multiple pages on each site) every 7.2 seconds, 24/7. Some specials that don't get added to the institution's normal rate-list webpages can be missed until someone spots them manually, and any institution that redesigns their website would need their checker reprogrammed.

clycett | Mar 28, 2019 | 4 posts since 2019

I am finding that our rates at HomeBank of California haven't been updated on this site. Who can I mention this to so that it can be updated?

AnnO | Mar 28, 2019 | 129 posts since 2018

There should be a "Report an issue" link next to their rate table.

Ally6770 | Mar 29, 2019 | 4,294 posts since 2010

Only the highest rates are noted. Lower rates are dropped

AnnO | Mar 29, 2019 | 129 posts since 2018

Ally6770 - We're talking about the individual bank/CU pages, which are intended to list ALL current rates. Not the bi-weekly 'best-of' posts.

paoli2 | Mar 31, 2019 | 2,641 posts since 2011

AnnO - My biggest gripe with banks and even some credit unions is that don't list all current rates. I have to always call the ones I am interested in and get them to tell me what their latest rates are. Their favorite excuse is "we have not had a chance to update our online site yet". I always ask them what day they "usually" get new rates in so I can at least know if the rates had a chance to go up or down from previous week's rates. Frankly, I think it is amazing Ken and his troopers do as well as they do with posting the rates we see on DA. My suggestion is that one always calls the bank or cu to get the latest rates if you want a CD at a certain time.

paoli2 | Mar 31, 2019 | 2,641 posts since 2011

BTW: Is there any reason we can't have back the short period we had before to catch our spelling errors and correct them after we post? That really came in handy, imo. Thanks.

clycett | Apr 1, 2019 | 4 posts since 2019

Well this site does post rates in individual balance tiers, so it isn't just posting highest rates of each deposit category. I.e. a $25k balance rate could be different from a 75k rate and it normally is reflected when you enter in a deposit amount in the search field.

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.