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Stars09 3.3K Views
Jun 14, 2023 5:27 AM

Capital Funding Group / CFG Bank 5.12% APY Money Market Account

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Minimum $1000 daily balance to not be charged $10 fee
https://www.cfg.bank/personal-ban...sit-rates/

They also have 12 month CD for 5.42%
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Deal Details
Community Notes
About the Poster
Minimum $1000 daily balance to not be charged $10 fee
https://www.cfg.bank/personal-ban...sit-rates/

They also have 12 month CD for 5.42%

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6 Comments

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Jun 14, 2023 5:39 AM
28.3K Comments
Joined Jan 2007
cgigateJun 14, 2023 5:39 AM
28.3K Comments
Never heard the bank...
some Money Market account is not insured by FDIC...
1
Original Poster
Jun 14, 2023 5:48 AM
6.1K Comments
Joined Jun 2007
Stars09
Original Poster
Jun 14, 2023 5:48 AM
6.1K Comments
Quote from cgigate View quoted comment :
Never heard the bank...
some Money Market account is not insured by FDIC...
😱 surprised nobody in their previous CD thread noticed they're scammers to report them for illegally using the fdic logo
https://slickdeals.net/f/16472935-cfg-bank-12-month-certificate-of-deposit-5-15-apy-minimum-500-deposit

Guess we should all take our $ out to start a bank run 😬
Last edited by Stars09 June 13, 2023 at 10:58 PM.
1
Jun 15, 2023 1:58 AM
1.6K Comments
Joined Oct 2004
tenkenJun 15, 2023 1:58 AM
1.6K Comments
Quote from cgigate View quoted comment :
Never heard the bank...
some Money Market account is not insured by FDIC...
Quote from Stars09 View quoted comment :
😱 surprised nobody in their previous CD thread noticed they're scammers to report them for illegally using the fdic logo
https://slickdeals.net/f/16472935-cfg-bank-12-month-certificate-of-deposit-5-15-apy-minimum-500-deposit

Guess we should all take our $ out to start a bank run 😬
I'm not a member of this bank but I did my research when the original thread was posted. They are legit:
  • They are listed on the FDIC website as insured, with a direct link to the same site in OP https://banks.data.fdic.gov/bankf...ails/34294
  • They are the biggest bank in Baltimore
  • They have a freaking stadium there named after them, CFG Bank Arena
Original Poster
Jun 15, 2023 2:44 PM
6.1K Comments
Joined Jun 2007
Stars09
Original Poster
Jun 15, 2023 2:44 PM
6.1K Comments
Quote from tenken View quoted comment :
I'm not a member of this bank but I did my research when the original thread was posted. They are legit:
  • They are listed on the FDIC website as insured, with a direct link to the same site in OP https://banks.data.fdic.gov/bankf...ails/34294
  • They are the biggest bank in Baltimore
  • They have a freaking stadium there named after them, CFG Bank Arena
Laugh I know they're real, I have an account with them for a few months now. Just seems like cgigate wants to instigate a bank run
Jul 7, 2023 3:46 PM
1.2K Comments
Joined May 2021
ImagineNoReligionJul 7, 2023 3:46 PM
1.2K Comments
It's now 5.17% APY.

7/7: I called on a Friday shortly before noon to change my priivacy policy preferences, and was #13 in the queue, with an estimated wait time of slightly longer. There's no web option, though I think many banks are doing this now.

The estimated wait time reached 1 minute after 10 minutes, and fluctuated for longer. My place in the queue jumped around a little bit as well. The call was dropped after 28 minutes.

I called again and was second in line. The rep was perplexed by my request, though, and asked several times what I wanted to do. Then she went to find someone who can help. I was on hold for a long time. When she came back in the 48th minute, she couldn't hear me so she hung up.

I called back and was 11th in line with an estimated wait time of 30 minutes. The call was picked up a couple of minutes before that. Again, the rep had no clue what to do. Took over 10 minutes to figure out I wanted to opt-out and decided to talk to and talking to her manager about how to do it. Then my call was dropped.

Then I got an email with a local number for the privacy notice. Estimated wait: 32 minutes. I requested a callback. Got it almost right away and was first in line. Waited another 15 minutes and finally decided to wait for a response from the Maryland regulator.

7/14: Funds no longer credit-only.

7/15: Woke up on a Saturday morning to an email saying funds transfer has been suspended. Phone line available only 8-5 M-F.
Last edited by ImagineNoReligion July 15, 2023 at 03:31 PM.
Oct 10, 2023 5:38 PM
161 Comments
Joined Dec 2004
clangjrOct 10, 2023 5:38 PM
161 Comments
This is a small, local to me, community bank. I've been a customer for probably 10 years. I know a few people on the board. They are legit for sure.

Small...yes......very. The communication issues posted above don't surprise me.

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