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expired Posted by thegman230 • Jan 31, 2023
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expired Posted by thegman230 • Jan 31, 2023

Primis Bank: Open a Savings Account, Get

($1 minimum deposit)

5.03% APY

479 Comments 133,059 Views
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Deal Details
Primis Bank is offering their Primis Savings Account at 5.03% APY with $1 minimum deposit.

Thanks to Community Member thegman230 for posting this deal.

Note: APYs are subject to change at any time without notice.

Key Features:
  • A straight-forward interest rate: 4.92% with an annual percentage yield (APY) of 5.03%.
    • APY effective 01/30/2023, no minimum balance required to obtain APY and fees may reduce earnings. This account is only available online. To open a comparable account at a branch visit a location near you (Maryland & Virginia).
  • Open for just $1
  • Free services, like incoming wires
  • Easy, simple banking
  • No Minimum Balances
  • No Service Fees
  • No Transaction Limits

Editor's Notes

Written by StrawMan86 | Staff
  • About this deal:
  • Please refer to the forum thread for additional details & discussion. -StrawMan86

Original Post

Written by thegman230
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Primis Bank is offering their Primis Savings Account at 5.03% APY with $1 minimum deposit.

Thanks to Community Member thegman230 for posting this deal.

Note: APYs are subject to change at any time without notice.

Key Features:
  • A straight-forward interest rate: 4.92% with an annual percentage yield (APY) of 5.03%.
    • APY effective 01/30/2023, no minimum balance required to obtain APY and fees may reduce earnings. This account is only available online. To open a comparable account at a branch visit a location near you (Maryland & Virginia).
  • Open for just $1
  • Free services, like incoming wires
  • Easy, simple banking
  • No Minimum Balances
  • No Service Fees
  • No Transaction Limits

Editor's Notes

Written by StrawMan86 | Staff
  • About this deal:
  • Please refer to the forum thread for additional details & discussion. -StrawMan86

Original Post

Written by thegman230

Community Voting

Deal Score
+62
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Top Comments

kickflip
But CFG Bank has limits according to their website:
Once funding occurs the daily external transfer limit for the CFG High Yield Money Market Account is $5,000. Your external transfers may not exceed $30,000 in a 30-day rolling period.
SharpMeat9093
I'm getting tired of moving my money around chasing the APY. They should be coming up again after tomorrow's FED meeting too.
cuoreesitante
Nope, usually paid out within a few business days.

FDIC official website has a section for concernicus folks like you specifically:
https://www.fdic.gov/consumers/co...tions.html

479 Comments

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Jan 31, 2023
49 Posts
Joined Feb 2019
Jan 31, 2023
SharpMeat9093
Jan 31, 2023
49 Posts
I'm getting tired of moving my money around chasing the APY. They should be coming up again after tomorrow's FED meeting too.
1
1
Original Poster
Jan 31, 2023
4,523 Posts
Joined Mar 2005
Jan 31, 2023
thegman230
Original Poster
Jan 31, 2023
4,523 Posts
Quote from SharpMeat9093 :
I'm getting tired of moving my money around chasing the APY. They should be coming up again after tomorrow's FED meeting too.
Haha. They actually did this right now before the meeting to beat other banks to it. The rate is based on the almost 1 bp they are raising.

Just had a lengthy conversation with them and they do seem legit. Asked many questions as well. They have branches as well.
Last edited by thegman230 January 31, 2023 at 07:58 AM.
4
Jan 31, 2023
127 Posts
Joined Feb 2005
Jan 31, 2023
hohlraum
Jan 31, 2023
127 Posts
https://banks.data.fdic.gov/bankfind-suite/bankfind?activeStatus=0%20OR%201&branchOffices=true&name=... [fdic.gov]

They are FDIC insured. That's a great deal. FYI this is a great site to find lots of them:

https://www.depositaccounts.com/savings/
Jan 31, 2023
49 Posts
Joined Feb 2019
Jan 31, 2023
SharpMeat9093
Jan 31, 2023
49 Posts
Quote from thegman230 :
Haha. They actually did this right now before the meeting to beat other banks to it. The rate is based on the almost 1 bp they are raising.

Just had a lengthy conversation with them and they do seem legit. Asked many questions as well. They have branches as well.
1 pb, I can only hope!
1
5
Jan 31, 2023
91 Posts
Joined Dec 2006
Jan 31, 2023
bubbadog
Jan 31, 2023
91 Posts

Our community has rated this post as helpful. If you agree, why not thank bubbadog

Would expect to see 3% or higher CD's but they offer less than 2.0% rates on 18-24months so would love to see prior rates at this bank for checking/savings..

https://digital.primisbank.com/br...rsonal/CDA

Would bet they will lower the 5% soon.
1
Jan 31, 2023
37,080 Posts
Joined Dec 2005
Jan 31, 2023
SnakePlisken
Jan 31, 2023
37,080 Posts

Our community has rated this post as helpful. If you agree, why not thank SnakePlisken

"This isn't just talk – we are developing programs and supporting organizations – like the Forward Foundation and Human Kind – that provide more than a hand out or even a hand up. Instead, Primis is offering a foundation on which women and girls can build their future."

I saw a similar episode of Seinfeld.... the Human Fund.
1
6
1
Jan 31, 2023
106 Posts
Joined Jan 2017
Jan 31, 2023
tearyprince
Jan 31, 2023
106 Posts
I find their executive bio's very bizarrely written... FDIC insured doesnt mean they wont collapse soon
1

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Jan 31, 2023
853 Posts
Joined Jul 2007
Jan 31, 2023
fubag
Jan 31, 2023
853 Posts
meh feels like a classic bait and switch; just stick to CFG Bank for something reputable that raise their interest rates without any gimmicks
3
Jan 31, 2023
1,823 Posts
Joined Aug 2008
Jan 31, 2023
cuoreesitante
Jan 31, 2023
1,823 Posts

Our community has rated this post as helpful. If you agree, why not thank cuoreesitante

Quote from tearyprince :
I find their executive bio's very bizarrely written... FDIC insured doesnt mean they wont collapse soon
But it does mean if they collapse you will get your money back from Uncle Sam (up to the limit ofc).
1
Jan 31, 2023
106 Posts
Joined Jan 2017
Jan 31, 2023
tearyprince
Jan 31, 2023
106 Posts
Quote from cuoreesitante :
But it does mean if they collapse you will get your money back from Uncle Sam (up to the limit ofc).
Get money back when..2 years?
5
Jan 31, 2023
62 Posts
Joined Nov 2009
Jan 31, 2023
kickflip
Jan 31, 2023
62 Posts

Our community has rated this post as helpful. If you agree, why not thank kickflip

Quote from fubag :
meh feels like a classic bait and switch; just stick to CFG Bank for something reputable that raise their interest rates without any gimmicks
But CFG Bank has limits according to their website:
Once funding occurs the daily external transfer limit for the CFG High Yield Money Market Account is $5,000. Your external transfers may not exceed $30,000 in a 30-day rolling period.
4
Jan 31, 2023
853 Posts
Joined Jul 2007
Jan 31, 2023
fubag
Jan 31, 2023
853 Posts
Quote from kickflip :
But CFG Bank has limits according to their website:
Once funding occurs the daily external transfer limit for the CFG High Yield Money Market Account is $5,000. Your external transfers may not exceed $30,000 in a 30-day rolling period.
No limits using external ach tranfers...non issue for me using outside hub accounts
1
Jan 31, 2023
3,300 Posts
Joined Nov 2010
Jan 31, 2023
bchill
Jan 31, 2023
3,300 Posts
Quote from tearyprince :
I find their executive bio's very bizarrely written... FDIC insured doesnt mean they wont collapse soon
Probably AI driven.
2
Jan 31, 2023
3,300 Posts
Joined Nov 2010
Jan 31, 2023
bchill
Jan 31, 2023
3,300 Posts
Redneck Bank is pretty good if you stay below 75K. They are always near the top.
1
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Jan 31, 2023
3,300 Posts
Joined Nov 2010
Jan 31, 2023
bchill
Jan 31, 2023
3,300 Posts
Quote from hohlraum :
https://banks.data.fdic.gov/bankfind-suite/bankfind?activeStatus=0%20OR%201&branchOffices=true&name=... [fdic.gov]

They are FDIC insured. That's a great deal. FYI this is a great site to find lots of them:

https://www.depositaccounts.com/savings/
Good Link. Thanks for sharing. doctorofcredit.com is excellent source too.
2

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