Orion Bank

Aggie | Aug 15, 2019 | 28 posts since 2019

I have been taking advantage of the 4% checking account at Orion Bank. I now will be above the 30000.00 cap. Has anyone had trouble getting the 4% after withdrawing money.

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Answers

pgroove_fan | Aug 15, 2019 | 168 posts since 2019

I don't understand your question. My own balance is always a little over 30000 and I'm constantly having to withdraw most of the required $500 in deposits each month to minimize the balance in the .05% range.

SSinvestor | Aug 21, 2019 | 9 posts since 2019

If your balance goes over $30K, you still get 4% interest on the $30K.

As for the deposit requirement, I have been depositing $500 and then withdrawing $600 every month, without issue. (I use different banks for the deposit and the withdrawal, so I'm not sure if that makes a difference or not.)

Aggie | Aug 16, 2019 | 28 posts since 2019

Thanks you answered my question. I did not know if you deposited $500.00 and then withdraw it if they would somehow penalize you.

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