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Rate History Money Market Savings

maley2711
  |     |   4 posts since 2023

which banks and CUs have been the best in the past history?

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Answers
JeffinEasternFL
  |     |   744 posts since 2020
I can say that Merchants Bank of Indiana has stayed typically within the top 10%~ or so of all Banks/CUs/FIs with their money market checking account. This has occurred in both high yield (like today) and low yield periods of financial history. Plus: free checks, wires refunded, no external ACH limits, secure messages answered within hours, phones answered locally, deposits credited promptly and even handwritten thank you notes. A decent web portal as well. I've been with over a dozen + other banks/FIs/CU's this century only to be shocked when rates drop, they all seemed to tumble faster, further and not bounce bank when rates rose. Not so with MBoI. Satisfied customer!
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4
betaguy
  |     |   180 posts since 2022
This is on the MBoI site. Not too reassuring. So, what is the MM Rate?
"*The Annual Percentage Yield (APY) is accurate as of 05/04/2023."
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JeffinEasternFL
  |     |   744 posts since 2020
On their webpage in BIG print...4.75% APY
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betaguy
  |     |   180 posts since 2022
On their webpage in small print.
'accurate as of 05/04/2023.'
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JeffinEasternFL
  |     |   744 posts since 2020
That is correct last change was on 5/4/23
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2
MoneyMoves
  |     |   149 posts since 2019
Jeff, the webpage is not 4.75% APY
It is ... 4.75% APY* ... with the Asterisk ... AKA must read bottom fine print.

That's what Betaguy is asking you, what is the rate now?
... bottom fine print:
"*The Annual Percentage Yield (APY) is accurate as of 05/04/2023."
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JeffinEasternFL
  |     |   744 posts since 2020
correct @ 4.75%, the last time it changed was 5/4/23, think it was 4.50% then
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2
maley2711
  |     |   4 posts since 2023
This may be the last time I post a question here...all but one reply have nothing to do with answering my question!!!!!!!!!!!!!!! Apparently one upmanship prevails here , as it does on so many web forums.....macho thing???
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5
maley2711
  |     |   4 posts since 2023
Contact the bank for today's accurate rate ....why argue about it?????? anyway, has nothing to d with question I posted!!!
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blazer9
  |     |   228 posts since 2019
pretty uppity aint ya?
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maley2711
  |     |   4 posts since 2023
It looks as though you haven't contibuted anything positive here.....just your uppity comment? uppity about what exactly???????????

anything better to do than submit random derogatory remarks???
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5
Rickny
  |     |   1,296 posts since 2017
Many negative reviews on this site for Merchants Bank of Indiana.

I believe a while ago I tried opening an account with them and they turned me down. I'd pass on them.
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JeffinEasternFL
  |     |   744 posts since 2020
I stand behind MBoI, in a high or low-rate environment, they will be near (sometimes even the best nationally) APY! Service=A++
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