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My Banking Direct High Yield Savings Account: Earn Up To
5.55% APY
($500 Minimum Deposit)
My Banking Direct offers up to 5.55% APY when you open High Yield Savings Account with $500 minimum deposit.
Thanks to community member georgerobert for finding this deal.
Thanks to community member georgerobert for finding this deal.
Original Post
Written by
Edited April 9, 2024
at 10:08 AM
Created 04-09-2024
at 09:52 AM
by georgerobert
in
Financial Tools & Services
(4)
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https://www.mybankingdi
A: In the unlikely event of a bank failure, the FDIC responds in two capacities.
First, as the insurer of the bank's deposits, the FDIC pays insurance to depositors up to the insurance limit. Historically, the FDIC pays insurance within a few days after a bank closing, usually the next business day, by either 1) providing each depositor with a new account at another insured bank in an amount equal to the insured balance of their account at the failed bank, or 2) issuing a check to each depositor for the insured balance of their account at the failed bank.
https://www.depositacco
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shady bank not put their name on it, it is a sign of risk to begin with...
you seek higher interest rate, they want your principal
Most rates came down with bonds, I think they reset monthly.. cd currently 5.25, but this is a stable bank. You may get a higher rate but may end up with lower quality customer service, worse account terms and conditions or bank failure
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Actually, some got caught with higher rates than the bonds would support and then went under water on loans and savings products. The higjer bonds today are trying to compensate for that without tanking the economy or more banks.
Some got "caught" with bonds (including treasuries) that were purchased years ago, that had low rates compared to today's market. Thus, due to inflation and customer demand to get their cash, they were forced to sell the bonds at a loss to raise capital.
None of those bonds were purchased recently.
Some got "caught" with bonds (including treasuries) that were purchased years ago, that had low rates compared to today's market. Thus, due to inflation and customer demand to get their cash, they were forced to sell the bonds at a loss to raise capital.
None of those bonds were purchased recently.
We are getting at the same idea. Banks are buying bonds to fund loans and savings products but inverted yield curve on low rates created free money syndrome driving inflation. Its banks that had to buy recent bonds at lower rates got caught selling at a loss.. long term bond were way higher than the current market 1994-2004.
0 to 3% interest is just the same as printing money. This is a loan vs the covid "relief" and subsequent fraudsters coming out of the woodwork
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