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expiredthegman230 posted Jan 31, 2023 03:16 PM
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expiredthegman230 posted Jan 31, 2023 03:16 PM

Primis Bank: Open a Savings Account, Get

($1 minimum deposit)

5.03% APY

479 Comments 135,749 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
+63
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Top Comments

kickflip
63 Posts
10 Reputation
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
49 Posts
22 Reputation
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
2022 Posts
711 Reputation
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

478 Comments

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Original Poster
Jan 31, 2023 11:50 PM
4,720 Posts
Joined Mar 2005
thegman230
Original Poster
Jan 31, 2023 11:50 PM
4,720 Posts
Quote from famewolf :
Typically these type deals require 15 checkcard purchases and one direct deposit...does this particular one?
None at all
Original Poster
Jan 31, 2023 11:51 PM
4,720 Posts
Joined Mar 2005
thegman230
Original Poster
Jan 31, 2023 11:51 PM
4,720 Posts
Quote from mnsweeps :
in a few weeks, they will drop the interest to 1%..
No they wont. Their previous rates have been climbing from 3.5 to 4 and now 5.
Original Poster
Jan 31, 2023 11:53 PM
4,720 Posts
Joined Mar 2005
thegman230
Original Poster
Jan 31, 2023 11:53 PM
4,720 Posts
Btw, their customer service is in the US. My call was answered within a few minutes and they even had a hold your place in line callback option. I'm opening several accounts. There is also no limit to the number you can open.
Jan 31, 2023 11:56 PM
99 Posts
Joined Jul 2013
lowdoughJan 31, 2023 11:56 PM
99 Posts
I started to open an account there and the only choice I could find to finish the account creation was to fund it before they'd create the account. Well, annoying, but not necessarily a big deal. I could point them to an account with only a couple bucks in it.

BUT NO! They required my login credentials for the account that I wanted to transfer the money from. MY MISTAKE!!! They only require the credentials if you correctly identify your bank's name. If you enter random letters instead, they'll grant you the privilege of validating with routing and account numbers and some test transactions.
Last edited by lowdough February 1, 2023 at 07:56 AM.
3
Jan 31, 2023 11:59 PM
28,287 Posts
Joined Jan 2007
cgigateJan 31, 2023 11:59 PM
28,287 Posts
Quote from lowdough :
I...

BUT NO! They required my login credentials for the account that I wanted to transfer the money from. HELL NO! HARD PASS for me.
you can choose manually verified by depositing two micro amount to external account
Jan 31, 2023 11:59 PM
27 Posts
Joined Dec 2010
warymanJan 31, 2023 11:59 PM
27 Posts
Quote from cattlet1 :
People should read the details. MySavingsDirect requires 60 day advance written notice of any intended withdrawal before you can get your funds. These guys look like a regular bank, and probably won't have such crazy restrictions.
Nope...ALL banks, literally all of them, have this in their policy. No one enforces it.
Feb 01, 2023 12:15 AM
45 Posts
Joined Apr 2019
guptnavFeb 01, 2023 12:15 AM
45 Posts
Quote from fw10001 :
I looked at Savebetter and couldn't figure out how the FDIC insurance (which isn't with SaveBetter, but covers deposits at SallieMae) would work if SaveBetter messed up. SaveBetter pools multiple clients' money into "basket" style CDs at SallieMae, right?
Anyone else with more information on the FDIC insurance via savebetter? I had the same question.

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Feb 01, 2023 12:18 AM
6,396 Posts
Joined Mar 2005
PedroRFeb 01, 2023 12:18 AM
6,396 Posts
Quote from waryman :
Nope...ALL banks, literally all of them, have this in their policy.
incorrect
1
Original Poster
Feb 01, 2023 12:29 AM
4,720 Posts
Joined Mar 2005
thegman230
Original Poster
Feb 01, 2023 12:29 AM
4,720 Posts

Our community has rated this post as helpful. If you agree, why not thank thegman230

Quote from lowdough :
I started to open an account there and the only choice I could find to finish the account creation was to fund it before they'd create the account. Well, annoying, but not necessarily a big deal. I could point them to an account with only a couple bucks in it.

BUT NO! They required my login credentials for the account that I wanted to transfer the money from. HELL NO! HARD PASS for me.
That is normal secure protocol as they are digitally connected and verify your ownership of the account you are funding with. Common practice however if you dont want to do that you can just enter in your routing number and account number and manually do it instead of automatically. They will need to do the trial deposit thing otherwise which takes much longer to fund your account
Last edited by thegman230 January 31, 2023 at 05:38 PM.
1
1
Feb 01, 2023 12:33 AM
263 Posts
Joined Sep 2017
desi_mundaFeb 01, 2023 12:33 AM
263 Posts
Quote from fubag :
Ally next day transfers no limits works great for most
Sofi does same day ach transfer. Getting 3.75% apy with DD which is better than Ally.
Last edited by desi_munda January 31, 2023 at 06:00 PM.
Feb 01, 2023 12:35 AM
1,199 Posts
Joined Apr 2011
CompulsiveBuyerFeb 01, 2023 12:35 AM
1,199 Posts
They're a public company, albeit a very small one with a market cap of $292M Here's their stock ticker and latest financial report:

https://www.cnbc.com/quotes/FRST?...hterm=frst
https://www.tipranks.com/news/pre...er-of-2022
1
Feb 01, 2023 12:47 AM
61 Posts
Joined Aug 2004
gruckenbauerFeb 01, 2023 12:47 AM
61 Posts
Is this better than BlockFi Earn?
Feb 01, 2023 12:53 AM
871 Posts
Joined Sep 2006
dingdong123Feb 01, 2023 12:53 AM
871 Posts
This or Marcus with $100 bonus for 10k?
Pro
Feb 01, 2023 12:54 AM
3,221 Posts
Joined Jan 2006
jneset
Pro
Feb 01, 2023 12:54 AM
3,221 Posts
Quote from desi_munda :
Sofi does same day ach transfer. Getting 3.85% apy with DD which is better than Ally.
3.75 or 3.85? Cuz my savings is only 3.75.
Thought I was only one who figured out the overdraft protection trick with Sofi.

Everyone on here chases the high % and complains about the dumbest things for maybe an extra $100/yr…

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Feb 01, 2023 12:57 AM
922 Posts
Joined Jul 2007
fubagFeb 01, 2023 12:57 AM
922 Posts
Quote from desi_munda :
Sofi does same day ach transfer. Getting 3.85% apy with DD which is better than Ally.
It's 3.75% on savings with sofi and ACH isn't always next day sometimes 2-3 days depending on amount I've used it

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