CD rates am I right here?

[Cheesebeef]

Hopefully those bonds work. I was lucky on the docs. Just did the form, SS card, and my license. I still had my previous license with that house's address on it so I used it over my current one.

Did you get any notice they processed your stuff and agreed to send the money before the money showed up?

 

[Devilmaycare]

Did you get any notice they processed your stuff and agreed to send the money before the money showed up?

Unfortunately, no. It was pretty much a black box. When I submitted I got a canned response about the normal time frames and that someone would be in contact if they needed additional info. I didn't hear another word after that.

I calculated out when they had to resolve my case by and waited for it. It was a couple days after that date that I found the check in my mail My plan had been to give them a week or so after the due date for processing lag and if I hadn't heard anything by then then I was going to contact them.

 

[Cheesebeef]

Unfortunately, no. It was pretty much a black box. When I submitted I got a canned response about the normal time frames and that someone would be in contact if they needed additional info. I didn't hear another word after that.

I calculated out when they had to resolve my case by and waited for it. It was a couple days after that date that I found the check in my mail My plan had been to give them a week or so after the due date for processing lag and if I hadn't heard anything by then then I was going to contact them.

Yeesh. Thanks for the info.

 

[Russ Smith]

I don’t really understand the whole CD appeal with what the rates are currently…. I’m using Marcus. They are paying 4.5% with no length of deposit obligations or penalties for withdrawing in their high yield online savings account. Then I’ve referred 5 people in The last year each referral giving me a 1% bump for 3 months for a total of 15 months at 5.5% or more if it goes up or down if it drops a little. But my money isn’t stuck there with possible penalty if by some chance I need it.

That's the thing, if you know for sure you don't need it, CD's pay higher rates. If you don't know, high yield savings. CD the rate is fixed for a fixed time frame, savings isn't. That's what made my Wells Fargo savings such a good deal as long as I keep the balance above 10K, I get 4.6 for a year.

BTW they have a new round of the same offering we were in there on Sat and they're advertising it again, 4.6 for a year

 

[Mainstreet]

Anyone do business with PNC Bank? I'm looking for another bank to open an account.

 

[Russ Smith]

So to update.I'm in Philippines and discovered I don't have my 2023 tax files on my laptop, thought I copied them over but didn't. So I'm doing a "rough draft" of my taxes on Turbo Tax just manually entering stuff.

I made nearly 10K in interest last year from CD's and high yield savings! That's the good news, the bad news is my federal refund went from 2600 to about 450 after I entered in my estimated earned interest. But I guess it's better to have all that interest than get a bigger refund.

 

[Yuma]

So to update.I'm in Philippines and discovered I don't have my 2023 tax files on my laptop, thought I copied them over but didn't. So I'm doing a "rough draft" of my taxes on Turbo Tax just manually entering stuff.

I made nearly 10K in interest last year from CD's and high yield savings! That's the good news, the bad news is my federal refund went from 2600 to about 450 after I entered in my estimated earned interest. But I guess it's better to have all that interest than get a bigger refund.

At least you didn't go negative on the return. With the interest rates so low, that much in interest is a happy moment to realize!

 

[Russ Smith]

These banks are almost as crooked as Trump.

I'm in a lawsuit with Capital One about to get paid out in class action because they failed to notify people who had money market accounts that there were much higher interest CD's and savings accounts now available at Capital One. Will only be a few bucks but hey.

On 1/30 we had a CD at Wells Fargo mature, was 5.25% and we have until Feb 9 to do something with it. We are still overseas and they want you to come in and do it in person so we called and explained and said I do NOT want it to auto renew into a CD at 2%(that's the standard rate now) I want you to put it into my checking account. I have a high yield savings with them at 4.6 percent until end of Feb but the guy we talked to months ago in the branch said they can't deposit from a CD to a high yield by phone the only account they can do that to is your primary checking. So I asked them to do that.

Went in today to confirm and just randomly clicked on the matured CD and surprise, 2.01% CD 2.33 interest earned matures on 7/30/2025. So they did in fact just roll it to a new CD at that rate, even though they have a 12 month CD at 4% right now advertised on the site.

Talked to someone who assured me they have my request in the notes, and no it's not in a new CD it's in process. So I said so is the CD with interest showing just a temporary CD? No sir it's in process it's not in a CD. So why does it say it's in a CD on your site? She never did give me a valid answer just kept saying it's in process check back on Mon or Tue and it should be in your checking.

I told her thank you and said just be aware, if I find out monday or tuesday it's actually in a CD, I'm going to demand you close that out, with no fee, and give me theinterest earned, or else I will take my money to another bank.

It's like insurance companies I don't believe for a minute it's an accident, they want me in a 6 month CD at 2 percent rather than a 1 year CD at 4% because it saves them money

 

[Russ Smith]

Circling back on this. Lucy and I have been renewing CD's with Wells Fargo we got 3.76 for 11 months(relationship rate) I think if you don't have enough money in with them it's 3.5.

I had a Platinum Savings account that was 4% for 6 months as long as the balance was over 25k. That expired last week I just renewed it to a new one today, 12 months, 3.5 % required 10K minimum balance(has to be new money). WF is pretty clear about it, they don't really care how you get the new money. So I just transferred 16K to my Capital One, renewed the account, and then I just transferred back 14K to the new account as new money. Once it's approved I will move the other 2K plus some more. you can transfer in and out it's not a CD it's a high yield Savings, FDIC protected and as long as it's over 10K we have it for 12 months. With rates being pushed down now that's about the best you can find for that long Since my primary checking is WF it is very convenient to have it there.

Etrade has an account that's paying 3.75 for premium saving but it can change at any time. Capital One is down to 3.4. Locking in interest rates as long as I can to get the income with no risk.

 

[Mainstreet]

Circling back on this. Lucy and I have been renewing CD's with Wells Fargo we got 3.76 for 11 months(relationship rate) I think if you don't have enough money in with them it's 3.5.

I had a Platinum Savings account that was 4% for 6 months as long as the balance was over 25k. That expired last week I just renewed it to a new one today, 12 months, 3.5 % required 10K minimum balance(has to be new money). WF is pretty clear about it, they don't really care how you get the new money. So I just transferred 16K to my Capital One, renewed the account, and then I just transferred back 14K to the new account as new money. Once it's approved I will move the other 2K plus some more. you can transfer in and out it's not a CD it's a high yield Savings, FDIC protected and as long as it's over 10K we have it for 12 months. With rates being pushed down now that's about the best you can find for that long Since my primary checking is WF it is very convenient to have it there.

Etrade has an account that's paying 3.75 for premium saving but it can change at any time. Capital One is down to 3.4. Locking in interest rates as long as I can to get the income with no risk.

I just did the Platinum Savings Account at Well Fargo today for 12 months at 3.5 % (required 10K minimum).

I could have gotten higher CD rates, but I liked the liquidity. I only have to leave $10,000 in the account if there is an emergency to keep the rate.

 

[Russ Smith]

I just did the Platinum Savings Account at Well Fargo today for 12 months at 3.5 % (required 10K minimum).

I could have gotten higher CD rates, but I liked the liquidity. I only have to leave $10,000 in the account if there is an emergency to keep the rate.

That's the exact one I did I get 3.76 because we have so many accounts with them we get the relationship rate.

It's a good deal!

 

[Mainstreet]

That's the exact one I did I get 3.76 because we have so many accounts with them we get the relationship rate.

It's a good deal!

Hmm. I have the relationship, but I didn't get the higher rate of 3.75% on the Platinum Savings.

Btw, my account matured over the weekend.

 

[Russ Smith]

Hmm. I have the relationship, but I didn't get the higher rate of 3.75% on the Platinum Savings.

Btw, my account matured over the weekend.

Sorry my bad you're right the relationship is for teh CD's not the Platinum Savings that's 3.5.

So same deal as yours

We were in there last week renewing one of Lucy's CD's and the woman asked and I said yes I already have one at 4. She said no you don't it's .001 and then I realized it had expired 2 days earlier. So I just renewed it today. I strongly suspect this is the last time that deal will be any good, in a year there's no way it will be anything like 3.5.

 

[Mainstreet]

Sorry my bad you're right the relationship is for teh CD's not the Platinum Savings that's 3.5.

So same deal as yours

We were in there last week renewing one of Lucy's CD's and the woman asked and I said yes I already have one at 4. She said no you don't it's .001 and then I realized it had expired 2 days earlier. So I just renewed it today. I strongly suspect this is the last time that deal will be any good, in a year there's no way it will be anything like 3.5.

Yes, I have CDs that are staggered at a higher rate. The liquidity at the 3.5% rate in a savings account is very attractive.

 

[oaken1]

The T-Money card through T-Mobile pays 4.00% with no minimum balance. Just requires ten transactions monthly to maintain the rate.


I put my reoccurring charges on there to act as transactions.
Prime, AMC+, D&D Byond, things like that. Fully automated basically.

 

[Russ Smith]

My rate was approved/ today so I have it for 12 months now

Actually debating if it's valid until Nov 18 if I can figure out the money I might open a 2nd one and keep just over 10K in it.That will effectively give me 13 months at this rate

 

[Russ Smith]

FYI I got an email the other day from Wells Fargo offering that same 12 month 3.5% savings plan if you sign up by I think Jan 13 or something similar. Strongly considering going back in Jan and doing it so I can extend the end date of mine from Oct since interest rates are likely going lower. Even 3 months more is worth it IMO

 

[Russ Smith]

FYI I got an email the other day from Wells Fargo offering that same 12 month 3.5% savings plan if you sign up by I think Jan 13 or something similar. Strongly considering going back in Jan and doing it so I can extend the end date of mine from Oct since interest rates are likely going lower. Even 3 months more is worth it IMO

I just did this today. Will fund it next week so I'll have the account for 12 months at 3.5%. Their 4 month CD is now 3.75 at relationship rate, so 3.5 for 12 months I can access freely seems like a plan.

 

[Russ Smith]

FYI if you have interest Etrade has an offer right now that's pretty good I just saw it on my nestegg youtube channel. 20K to open a Premium Savings account you get a 6 month "boosted" rate of 4%, it's not a CD it's a savings account so you can deposit or withdraw during that time. As long as it's at least 20K you get a $250 bonus. So after you fund the account 20K you have to keep it at least 20K for 45 days, then you get your 250 in about 30 days. The max is 10 million if you have that much you probably don't care about deals like this though.

If my math is right you get just over 396 bucks if you put 20K in for 6 months at 4%, so the 250 bonus is like getting another 3% actually more because you'll get that with still 3 months left on the 4%.

After the 6 months it reverts to the current rate which right now is 3.25 I think we actually have 2 of the accounts but it has to be a new one to qualify. the link should have it but just in case you have to use SPRING26 as the promo code to get the 250 bonus and again you have to keep the balance over 20K for 45 days to qualify for the bonus.

Premium Savings Account: 4.00% APY For 6 Months | E*TRADE

Open a high-yield Premium Savings Account from Morgan Stanley Private Bank & earn 4.00% APY—10X the national average. No monthly fees, no minimum deposit.

us.etrade.com

 

[elindholm]

FYI if you have interest Etrade has an offer right now that's pretty good I just saw it on my nestegg youtube channel. 20K to open a Premium Savings account you get a 6 month "boosted" rate of 4%, it's not a CD it's a savings account so you can deposit or withdraw during that time. As long as it's at least 20K you get a $250 bonus. So after you fund the account 20K you have to keep it at least 20K for 45 days, then you get your 250 in about 30 days. The max is 10 million if you have that much you probably don't care about deals like this though.

If my math is right you get just over 396 bucks if you put 20K in for 6 months at 4%, so the 250 bonus is like getting another 3% actually more because you'll get that with still 3 months left on the 4%.

After the 6 months it reverts to the current rate which right now is 3.25 I think we actually have 2 of the accounts but it has to be a new one to qualify. the link should have it but just in case you have to use SPRING26 as the promo code to get the 250 bonus and again you have to keep the balance over 20K for 45 days to qualify for the bonus.

Premium Savings Account: 4.00% APY For 6 Months | E*TRADE

Open a high-yield Premium Savings Account from Morgan Stanley Private Bank & earn 4.00% APY—10X the national average. No monthly fees, no minimum deposit.

us.etrade.com

E*Trade runs deposit bonus promotions for their brokerage accounts too. I think they are trying to expand. I've been pretty happy with them, except I wish they'd disclose the transaction fee for pink slip stocks up front. It's only $4.95, but still annoying when it catches you by surprise.

 

[oaken1]

isnt it sad the rate on jumbo CD's right now??
Couple years ago we were discussing 12% APY for annual online accounts...
now you gotta go with a 3 year minimum term to get 4.25%

 

[Devilmaycare]

isnt it sad the rate on jumbo CD's right now??
Couple years ago we were discussing 12% APY for annual online accounts...
now you gotta go with a 3 year minimum term to get 4.25%

It's only sad if you don't need to make a big purchase. I've been thinking of maybe car shopping and a 4-5% rate is a bit more attractive on that than the 8-9% that they got up to.

 

[oaken1]

It's only sad if you don't need to make a big purchase. I've been thinking of maybe car shopping and a 4-5% rate is a bit more attractive on that than the 8-9% that they got up to.

Yeah, I guess if you have to finance something low rates are a bonus. I havent financed anything since the nineties so I lean towards growth rates

 

[Folster]

isnt it sad the rate on jumbo CD's right now??
Couple years ago we were discussing 12% APY for annual online accounts...
now you gotta go with a 3 year minimum term to get 4.25%

12%? Who was offering 12% a couple years ago? Maybe during the Reagan administration.

 

[oaken1]

12%? Who was offering 12% a couple years ago? Maybe during the Reagan administration.

look back in this thread.. I forget the bank...but it was an online bank offering 12% for a 1 year Jumbo CD