ichaelm | | 473 posts since 2010My acct shows a rate of 4.16%, so the new rate applies to everyone. No one was grandfathered to a higher rate this time.
enduser | | 711 posts since 2015Lets face it 4% will be the new top dog very shortly, then lower yet. IMHO it's not worth the calories to gain a measly fractional percentage. You have to realize that during the 3 day transfer time you may end up loosing more in interest then there is to be gained. And nothing will guarantee that the rate at other F.I. will not go down. If trump has his way interest rates would be at zero.
Climb_Garden | | 14 posts since 2023Different situations for different people. If someone keeps $250,000 at Poppy (4.25% APY) instead of at Roger (4.65% APY) then it'll cost them $1,000 a year in interest. Many banks, including Poppy, complete ACH transfers either the same day, or next. I'm one of those fortunate to have enough cash in savings that differences in interest rates adds up to a fair amount of pocket change. Good habits, good results.
enduser | | 711 posts since 2015@Climb_Garden So that means I"m one of those who could also be making an extra 4-5K per year based on your calculation. You just made me aware that I need to step up my good results.
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