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This rate is not for a CD, this is a standard savings account rate. So the big difference is having complete liquidity versus putting your money into a CD which typically will have an early withdrawal penalty if you need to access your funds before maturity. Also, if you lock yourself into a CD and rates continue to go higher, you may lose out on some additional interest at other banks as they increase their rates. Once I see rates start to come down, I'll probably put some money into a CD that matures in a few years to continue to earn high interest even as rates start to decline.
They are jumping the gun by a week, counting on a 1/2 percent increase by the Fed in the next meeting. Assuming that happens, by the end of the month other online savings accounts will be in the 4.5% to 5% range. Solid rate tho.
And yeah, if you have more than $250k in an account, you might want to break that up and have a few accounts to keep your balances under that thresholdā¦But I bet you already knew that if you have that much cash sitting around.
Nah takes like a day. They just sit on our money and earn on their end for a week then allow it to post so we start earning. LOL
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Do you just send a support ticket in and request they bump you up to the current (UFB Preferred Savings) plan?
I did once in November.
I just confirmed December was 4.04% and January was 4.16%.
Transferring money is painfully slow and takes about a week. Overall customer support was responsive.
edit: I started with the preferred savings, they converted to preferred money market. My wealthfront is still at 4 and daily average in Jan was 3.25% and then 3.73% APR with a 3.80 APY.
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03-01-2023 at 07:07 AM.
I recently opened and funded it with a push from SOFI, took about a day. (I transferred from SOFI site)
Now, I used the UFB site to pull a transfer, and it took 3 days
Hence, if you open an account, try to push into UFB
damn 4.55% is good, I dont want to keep moving money around.. I will be able to move the money instantly all at once no issues if needed? Using it to make some interest on a downpayment for a home so if I need it on the spot I'd like to be liquid within a few days
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03-01-2023 at 07:50 AM.
Quote
from BullittEV
:
damn 4.55% is good, I dont want to keep moving money around.. I will be able to move the money instantly all at once no issues if needed? Using it to make some interest on a downpayment for a home so if I need it on the spot I'd like to be liquid within a few days
Same question here⦠any issues with transferring out large sums in short order? I believe lots of banks now have limits on size of electronic transfers
damn 4.55% is good, I dont want to keep moving money around.. I will be able to move the money instantly all at once no issues if needed? Using it to make some interest on a downpayment for a home so if I need it on the spot I'd like to be liquid within a few days
I believe they only let you move 20k a month? Not 100% sure on that, but I'm definitely hitting limits trying to deposit into ufb
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And yeah, if you have more than $250k in an account, you might want to break that up and have a few accounts to keep your balances under that thresholdā¦But I bet you already knew that if you have that much cash sitting around.
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They have adjusted my rate every time since the 3ish rates the last 5 months..
I did once in November.
I just confirmed December was 4.04% and January was 4.16%.
Transferring money is painfully slow and takes about a week. Overall customer support was responsive.
edit: I started with the preferred savings, they converted to preferred money market. My wealthfront is still at 4 and daily average in Jan was 3.25% and then 3.73% APR with a 3.80 APY.
I just confirmed December was 4.04% and January was 4.16%.
Transferring money is painfully slow and takes about a week. Overall customer support was responsive.
Our community has rated this post as helpful. If you agree, why not thank Joedaddy123
Now, I used the UFB site to pull a transfer, and it took 3 days
Hence, if you open an account, try to push into UFB
Sign up for a Slickdeals account to remove this ad.
Our community has rated this post as helpful. If you agree, why not thank tadr
Same question here⦠any issues with transferring out large sums in short order? I believe lots of banks now have limits on size of electronic transfers
I believe they only let you move 20k a month? Not 100% sure on that, but I'm definitely hitting limits trying to deposit into ufb