scottjm's Content

#18134 Top rates for Savings and Money Market accounts

Posted by scottjm on 03 November 2005 - 11:17 AM in Bank Best Rates

ING bumps up to 3.5%, Not much but enough to keep me there awhile longer. Is still a better rate than what I can get from most local banks, Including large banks like BOA or Citizens. Am looking at opening an interesting new account with Salem Five bank. It's called the Platinum Cash account. Rate is tied to the 1-month Libor rate that is posted on the first of every month in the Wall street Journal. Has unlimited check writing and withdrawals, Free worldwide ATM and bunch of other perks. Does have a $200,000 Min but it is currently paying 4.17% and Libor rate moves pretty much with our FED rate so could simplify the process of chasing rates. And since they have DIF you are covered for any amount

#18095 Top rates for Savings and Money Market accounts

Posted by scottjm on 30 October 2005 - 12:57 PM in Bank Best Rates

WFB bumps up to 3.68/3.75. Not a lot, but more pressure on ING?

#18014 Top rates for Savings and Money Market accounts

Posted by scottjm on 22 October 2005 - 11:53 PM in Bank Best Rates

Highest MM in Country, 4.50% For $25,000 and above
http://www.superiorsavings.com/

#17949 Top rates for Savings and Money Market accounts

Posted by scottjm on 18 October 2005 - 06:33 PM in Bank Best Rates

http://www.salemfive.com/
This CD could be considered a MM. They are offering a 9 month No Penalty CD at 4.25%, 10,000 Min. You can withdraw anytime with no penalty after 6 days. I have used this bank for awhile and they offer DIF which covers any amount over FDIC.

#18004 Top rates for Savings and Money Market accounts

Posted by scottjm on 22 October 2005 - 12:45 PM in Bank Best Rates

AmTrust is offering 4% for $50,000 and over and 3.75% for over $25,000
http://www.amtrust.com/

#18151 Top rates for Savings and Money Market accounts

Posted by scottjm on 04 November 2005 - 01:37 PM in Bank Best Rates

Found this nice deal at a local Cooperative Bank.
They are offering a Passbook saving account at 4.07% with 25K Min. Rate guaranteed till 05/01/2006. Might only be good as a local deal, Located just North of Boston, as I don't know if you must go in for a Passbook account. Also offering a 8 month CD at 4.5%. Another plus is they have SIF which covers any amount over FDIC, Might now be time to take some $$ out of ING to open with them
http://www.equitable...com/intsav2.htm

#8789 Top rates for Savings and Money Market accounts

Posted by scottjm on 20 September 2005 - 10:39 PM in Bank Best Rates

Woopie I also have Emigrant . With Fed not taking a Katrina break today and signaling further hikes ahead looks like we will see more banks going up. Great time to be liquid

#18177 Top rates for Savings and Money Market accounts

Posted by scottjm on 08 November 2005 - 01:33 PM in Bank Best Rates

WFB bumps again to 4%. Making ING's .10% bump up look pretty sad

#18212 Top rates for Savings and Money Market accounts

Posted by scottjm on 18 November 2005 - 09:46 PM in Bank Best Rates

WFB moves up to 4.25%

#8785 Top rates for Savings and Money Market accounts

Posted by scottjm on 20 September 2005 - 11:17 AM in Bank Best Rates

Eastern bank 4% Money Market with min of 10,000. Rate guaranteed through 3/31/06
Nice for me as local bank and I allready have accounts there

1 Annual Percentage Yield (APY) is based on average daily balance of $10,000 or more. For balances less than $10,000: 0.50% APY applies. A minimum of three Select Checking transactions per statement cycle required to earn Maximum Money Market Account (MMMA) APYs. APYs quoted are accurate as of 9/12/05 and are guaranteed through 3/31/06, thereafter rates are subject to change. Minimum of $10,000 in non-Eastern Bank funds required to open MMMA; deposits limited to $250,000. Certain transaction limits apply. Fees may reduce earnings. Select Checking Account with $50 opening deposit required. Three months from Select Checking account opening, a $5,000 combined balance among designated accounts required to avoid monthly service charge. Personal accounts and MA residents only.

#18060 Best CD rates in US (Thanks Vivyip & uppchy!)

Posted by scottjm on 26 October 2005 - 01:18 PM in Bank lists by feature

State Farm bank offering nice 3 month CD. under $100,000 4.25% over $100,000 4.35%

http://www.statefarm...ank/fixrate.htm

#17951 Best CD rates in US (Thanks Vivyip & uppchy!)

Posted by scottjm on 18 October 2005 - 08:05 PM in Bank lists by feature

4.25% for 9 month no-penalty CD , $10,000 Min. Best thing is you can close and withdraw if better rates come along. Also they have DIF which covers any amount over FDIC
http://salemfive.com/

Transaction Limitations: You may close your account without penalty at any time after the first six days. You may not make deposits into the account during the term and no partial withdrawals.

#17947 Comments on ING's new 'Video Game' log-in process?

Posted by scottjm on 18 October 2005 - 01:03 PM in Online banks

Read this in the Boston Globe this morning. Maybe ING is just trying to follow Fed guidelines? I look forward to better security in all my accounts. I know when it comes to Credit Card fraud you are not responsible, But have read very little concerning Bank account fraud. Anyone know how responsible you are and what is a Banks liability if someone hacks into your account? I subscribe to McAfee anti-virus and firewall and update daily. Anyone know if any of those other devises mentioned in this article are available?

Regulators tell banks to fortify Internet security
By Associated Press | October 18, 2005

Federal regulators will require banks to strengthen security for Internet customers through authentication that goes beyond mere user names and passwords, which have become too easy for criminals to exploit.

Bank websites are expected to adopt some form of ''two-factor" authentication by the end of 2006, regulators with the Federal Financial Institutions Examination Council said in a letter to banks last week.

In two-factor authentication, customers must confirm their identities not only through something they know, like a PIN or password, but also with something they physically have, like a hardware token with numeric access codes that change every minute.

Other types of two-factor authentication include costlier hardware involving biometrics or ''smart" cards that would be inserted into designated readers on a user's computer. Banks might also issue one-time passwords on scratch-off cards or require ''secret questions" about a customer's account.

#17928 Comments on ING's new 'Video Game' log-in process?

Posted by scottjm on 16 October 2005 - 12:12 PM in Online banks

Have not logged into ING for a few months so I just gave it a try and found it not bad. I keep an eye on all my bank, investment accounts and credit cards by using a portfolio gateway program from one of my banks. One login and all my accounts come up refreshed and shows any activity for the past week. Only time I would need to log directly into ING is if I want to do a transfer. If it does offer more security I am for it. Some accounts have become a little more difficult to get you extra security, Like when I did a CD thru AmTrust, They told me I will need to send a notarized letter to close account and get funds transferred out. Kind of pain but I guess necessary in today's World

#18141 Recommendation requested, details inside.

Posted by scottjm on 03 November 2005 - 06:40 PM in Online banks

QUOTE(pangya88 @ Nov 3 2005, 12:49 PM)

Banks have failed and will continue to fail. If a bank crashes, you may have to wait a long time and get less interest than you previously thought.

Anyone can say anything about the Savings and Loan Crisis in the 80's ??? Pardon my ignorance.

What is FDIC Deposit Insurance?

--------------------------------------------------------------------------------

The FDIC was created by Congress in 1933 to make the savings of millions of Americans secure. The FDIC protects depositors' funds in the event of the financial failure of their bank or savings institution. The FDIC does not protect against losses due to fire, theft, or fraud, which are subject to other protections such as hazard and casualty insurance. FDIC also does not insure Non-Deposit Investment products (such as Stocks, Mutual Funds, and Annuities) that may be sold at a bank or savings institution.

When an institution is closed by its chartering authority, the FDIC makes payment of insured deposits to all of the failed institution's depositors as soon as possible, usually on the next business day after the closing. Those depositors who have funds in excess of the insurance limits receive the insured portion of their funds as described above. They also may receive a portion of their uninsured funds either at that time or as the assets of the failed institution are liquidated.

#18143 Recommendation requested, details inside.

Posted by scottjm on 03 November 2005 - 06:48 PM in Online banks

I have never had to get money from the FDIC but did have one small local bank fail on me. FDIC just had other Local banks instantly pick up all depositors accounts. Also I remember hearing once that the FDIC has 99 years to payoff if there was ever a major banking crisis but have never been able to confirm this

#8951 ING Direct fires its customers

Posted by scottjm on 07 October 2005 - 10:44 AM in Online banks

Ing calls the account a savings account and I am not sure if the rules for a savings are the same as a Money Market account. But Federal law does restrict withdrawals on a MM. Only problem I have ever had with ING was them freezing my account because of inactivity, now I just make sure I transfer out a small amount every few months. Below was copied from Bankrate.com site

Discipline through limits
The discipline derives from a cap. By law, you are allowed to make no more than six withdrawals and transfers per month if the transactions are overdraft protection transfers, automatic bill deductions, wire transfers, telephone transfers and PC banking transfers. However, money market account holders are usually allowed to make unlimited free deposits and withdrawals from ATMs in their network.
Money market account holders are allowed to write up to three checks per month. If the owner exceeds the allotment, a bank often will charge between $5 and $15 per check. Repeat offenders may have their accounts closed.

#8942 ING Direct fires its customers

Posted by scottjm on 06 October 2005 - 10:03 PM in Online banks

I agree with ING firing high maintenance customers, More money they make better rates we get. Most of us here just park money in these online accounts anyway. That is why even though I have numerous online accounts I still depend on my local B&M bank for my banking needs and yes their rates are slightly lower but they are the ones I will go to for "maintenance" problems

#8941 ING Direct fires its customers

Posted by scottjm on 06 October 2005 - 10:01 PM in Online banks

I agree with ING firing high maintenance customers, More money they make better rates we get. Most of us here just park money in these online accounts anyway. That is why even though I have numerous online accounts I still depend on my local B&M bank for my banking needs and yes their rates are slightly lower they are the ones I wil go in for "maintenance" problems

#8963 ING Direct fires its customers

Posted by scottjm on 08 October 2005 - 11:11 AM in Online banks

Then I don't know why people are complaining about ING, Seems they are just following the rules. If you want great service go to your local bank, In most cases they will give the service but not the high rates. There is a trade off for going with the best rates

#18598 Virtual Bank increases the rate of its Money Market account to 4.60%

Posted by scottjm on 16 February 2006 - 02:00 PM in Savings and Money Market Rates

Never used them before as putting my money in a "virtual" seemed strange. Found they are the online part of Lydian Private Bank out of FL. Safe an Sound rating of 3* and about $1.5 Billion in size. Going to take advantage of their 5.10% CD. Seems like one of the best rates for an easy to open online account.

#8964 $50 - ebank : for checking and MMA

Posted by scottjm on 08 October 2005 - 03:10 PM in Expired bank bonuses

seems these banks are getting a little more aggressive in marketing. Usually I find these bonuses here and other online sources, but in my mail today I received the MetLife and E-Trade bonus offers

#18631 Virtual Bank increases the rate of its Money Market account to 4.60%

Posted by scottjm on 21 February 2006 - 11:28 AM in Savings and Money Market Rates

QUOTE(xanuda349 @ Feb 20 2006, 09:38 PM)

there is a small print saying that this rate - 4.6%- is for balances under 10.000.
does anyone know what is the rate for over $10K?

Not sure where you are reading that but they show 4.60 from $100 to $100,000+

Under $10,000.00 4.50% 4.60% $100 Min
$10,000.00 - $24,999.99 4.50% 4.60%
$25,000.00 - $49,999.99 4.50% 4.60%
$50,000.00 - $99,999.99 4.50% 4.60%
$100,000.00 and up 4.50% 4.60%

#17974 Is better login security worth spent time?

Posted by scottjm on 19 October 2005 - 08:03 PM in General

I voted yes, Am nervous with online accounts. I will never fall for a phishing scheme, I don't answer anything online and if it's real figure someone from the bank will eventually call. I subscribe to two different credit monitoring services that would alert me in minutes if any credit was opened in my name but there is not much in the way of banking protection available. Still trying to determining your liability if your account is hacked. Did notice a statement on an online agreement that said something about them not being liable for unauthorized use of your password and user ID

#8606 Feedback about ING Direct

Posted by scottjm on 23 August 2005 - 09:58 PM in Online banks

My only problem I had with ING is that because I did not use for awhile the account went into a dormant status and i had to call to get it active again. So for anyone just parking money they should do a small transfer every few months