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CIT Bank Platinum Savings: Earn Up to 4.70% APY*
CIT Bank our partner, offers the following benefits with their Platinum Savings account.
- Must have a minimum daily balance of $5000 to earn 4.70% APY
- No account opening or maintenance fees
- Daily compounding interest to maximize your earning potential
- FDIC insured
- *See site for details
Created 09-25-2024
at 01:09 PM
by EfficientGame645
in
Finance
(3)
CIT Bank
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https://www.depositacco
I've had a few HYSAs over the years, and yes, they all tend to reduce rate over time. Eventually I jump when I find a competitor paying 0.5% more. Right now I'm with MyBankingDirect at 5% (formerly 5.5%). No issues - unlimited withdraws/transfers, and reasonable funds availability. Their only questionable term is that if you cancel before interest is paid for the month, you don't get the interest. So, when you clear out and close, do it right after a statement date.
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I've had a few HYSAs over the years, and yes, they all tend to reduce rate over time. Eventually I jump when I find a competitor paying 0.5% more. Right now I'm with MyBankingDirect at 5% (formerly 5.5%). No issues - unlimited withdraws/transfers, and reasonable funds availability. Their only questionable term is that if you cancel before interest is paid for the month, you don't get the interest. So, when you clear out and close, do it right after a statement date.
I have a few checking accounts and savings accounts and a credit score of over 700 what could i have done? makes me feel funny as why would they not want my money?
https://www.depositacco
Appreciate this.
Peak bank at 5.33% doesn't look bad
10k withdrawal limit per day
Peak bank at 5.33% doesn't look bad
10k withdrawal limit per day
Oh wow. They take your money and you can't take it out or only by the drip? That sucks. Imagine that if you had 250k. It would require you to consistently take out $10k a day for almost a month to withdraw all that. That is, if they don't have any other monthly limits, such as only N transactions per month.
Tons of vague and misinformed or optimistic thinking in this post. First off, as you said it's not a bank account so it's not guaranteed by FDIC. Secondly, and I've been through these before, when a company gets in trouble (not saying Ford will ever get in this spot) it happens fast and often without notice. You really think that "writing a check to get it out" is realistic in that timeline? Highly doubtful. Finally, "ford keeps a lot of cash" is also a very misinformed view of how debt obligations work — you're not writing a check out of Ford's actual cash account?!? You'll be in line to recover whatever funds are left in that case. And that position in the totem pole might be very low. Am I saying this will ever happen to Ford? Probably unlikely. However for a mere .5% above market rate for an fdic insured account, I personally am not willing to take that risk.