|Joined: Nov 29, 2009||Comments: 500|
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About Ken Tumin
I started the BankDeals blog which eventually evolved into DepositAccounts.com as a hobby to help people find the best deals at banks and credit unions. My deals come from US banks and credit unions, both online and brick-and-mortar. Internet banks are creating more competition and better rates, but sometimes the best deals are local.
In addition to reports on deals, I also describe my experiences on opening accounts and dealing with the banks. Plus, I try to keep everyone updated on the important banking news relevant to savers.
I am NOT affiliated with any banks or institutions. I'm just another web surfer like you. My posts are based on what I find on institutions' websites, what they advertise and what the banks' customer service reps tell me. I also receive valuable help from readers who inform me of new rates and deals. Comments and emails are much appreciated.
Check with the institution for the latest and official information. Rates change very fast, and so the only official information is directly from the bank or credit union. I keep old posts with old rates for history's sake. A bank's rate history can be an important factor to consider. All posts are dated so you can see if the post may be out-of-date. You may contact me at ken depositaccounts.com.
Recent Blog Posts
Ally Bank informed customers by email this morning of changes to its deposit agreement that will take effect on December 3, 2016. The email summarized the key changes which include faster ACH transfer speeds and improved funds availability for check deposits. I did a quick review of the new deposit agreement, and I don’t see other significant changes. If you see any, please leave a comment. The changes appear favorable to customers. Below is an excerpt from the email that includes all of the description of the changes....Continue Reading
Over the weekend, Geauga Savings Bank added a 7-month CD Special (1.40% or 1.20% APY) to its product line.
The 1.40% APY requires an open Advantage Checking account during the term of the CD, while the 1.20% APY has no checking relationship requirement. The minimum deposit is $25k, with a maximum deposit of $245k.
The Advantage Checking account requires a $50 minimum deposit to open, and a $2k minimum balance is required to avoid...Continue Reading
There hasn’t been much occasion to write about any of VirtualBank’s products in almost 18 months. That changed over the weekend with the rate increases on its 12-month eCD (1.26% APY), 18-month eCD (1.31% APY), 2-year eCD (1.51% APY), and 3-year eCD (1.56% APY). These new rates are the highest for these eCDs in more than five years.
The minimum opening deposit for any of VirtualBank’s eCDs is $10k, with no stated balance cap. Interest is compounded and credited monthly.
As stated in VirtualBank’s Terms...Continue Reading
The rates on NuVision Federal Credit Union’s (NuVision) 5-year Certificate (up to 2.20% APY) have remained steady for more than two years, and with the recent decline in rates, have become inherently more competitive.
NuVision structures its Certificate rate tiers in 5 basis points increments, for minimum deposits of $1k, $25k, $50k, and $100k.
The 5-year Certificate is also offered as an IRA (Traditional, Roth, CESA, and SEP), earning the same tiered APYs with the same funding requirements.
As stated in NuVision’s Truth In Savings...Continue Reading
At the beginning of October, Orion Federal Credit Union (Orion FCU) raised the rate on its Premium Checking account. Qualifying balances up to $20k now earn 3.00% APY, with qualifying balances over $20k earning 0.05% APY. Non-qualifying balances do not earn any interest.
The Premium Checking account was added to the product line in November 2014, earning an unimpressive 1.00% APY. The rate increased to...Continue Reading
Recent Community Posts
From an email received this morning, upcoming changes include the ability to complete qualified transfers between your Ally and non-Ally accounts in 1 read more
SAN FRANCISCO - Major websites were inaccessible to some East Coast users in the United States Friday morning and to people across the country in the read more
From the Daily Mail: A couple renovating their home got quite the surprise recently, when they found a stash of cash in a suitcase hidden in the ceiling read more
Stopping to pick up a stray penny off the ground may not seem worth the effort, yet one bank is trying to change that mindset by placing 100 fake read more
The NCUA board on Oct. 27 will consider a final rule revising the agency’s Field of Membership regulations—a move that could set up a contentious fight read more
It’s true that 1,614 branches in America were closed last year, but surprisingly, almost 38% of banking is still occurring within the walls of the read more
Big banks will have to toughen up their cybersecurity practices to protect customers against attacks, according to proposed new regulations. Under the new read more
These scammers had called me so many times that I knew their script. They always introduced themselves as IRS officers with inconspicuous American names, read more
After a lot of searching, I finally found another credit union offering CD specials for the International Credit Union week. Unfortunately, the specials read more
Does anyone know why there are no rates posted for Navy Federal CU? Can someone tell me what the EWD is for their 1 year and 5 year CDs? Thanks!
Social Security benefits are modest - recipients got an average of $1,341 a month in 2016 - and inflation can take a painful bite out of recipients' read more
The ATM is the newest front in the war against cyberthieves. A year after millions of U.S. merchants began installing equipment at the check-out line to read more
Former Birmingham Health Care CEO Jonathan Dunning was sentenced to 18 years in prison Friday for his role in a $13.5 million fraud scheme that siphoned read more
When the Federal Reserve meets next month, the question of will they or won't they hike interest rates will be clouded by the fog of presidential politics.
Hi. I'm thinking of opening up an online savings account at either Ally, Synchrony, or American Express for their better interest rates than the banks in read more
Waiting for inflation to accelerate has been like watching grass grow -- it just seems even more interminable. Consumer prices, though, have edged up the read more
Just saw PenFed’s TV commercial while watching business news this morning. Their tagline in the ad was “great rates for everyone.” At the end of the read more
John Stumpf, the embattled CEO of Wells Fargo (WFC), retired from the company effective Wednesday. Stumpf's move comes just weeks after he was grilled by read more
Townspeople (Kyle Mooney, Bobby Moynihan, Aidy Bryant, Pete Davidson, Kenan Thompson, Sasheer Zamata, Kate McKinnon, Melissa Villaseñor) await the arrival read more
I just received an email from a reader informing me of two deposit specials at Maryland-based Capital Bank (not Capital One): * 1.20% apy 12-month CD, min read more
Wells Fargo & Co. managers pushed bankers to sign up customers for potentially costly overdraft protection that they didn't always need or realize read more
15-MONTH SELECT CD 1.25% APY special promotional rate/term available through 11/07/2016Automatically renews into 12-Month High Yield CDYour deposits are read more
Article provides a good example of going beyond usernames and passwords: After you have inputted your password, the site you are attempting to access will read more
Fidelity just issued this press release introducing its new Model CD Ladders: To help investors make the most of their hard-earned money, Fidelity read more
It's no longer on current rate chart, Quorum's Current Rates | Quorum
Your job pays the bills - but your job title might make some of those bills bigger. Lenders and car insurers look at customers' occupations when setting read more
The good news is that PenFed increased its CD rates at the start of October. The bad news is that their long-term CD rates remain very uncompetitive. read more
A former CEO and her assistant received federal prison sentences last month for running an $18 million Ponzi scheme out of a Texas credit union by selling read more
If you clicked here just to confirm that you have nothing to worry about, sorry - there's plenty to worry about. This is the part in the movie when the read more
In early September, regulators hit Wells Fargo with $185 million in fines for creating millions of fake bank and credit card accounts from 2011-2015. More read more