- This topic has 33 replies, 14 voices, and was last updated 17 years, 2 months ago by
Ricechex.
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September 18, 2007 at 1:47 PM #10333September 18, 2007 at 1:53 PM #85020
Sandi Egan
ParticipantBofA is not a good bank for personal finance anyway. There are plenty of fee-free banks and credit unions.
September 18, 2007 at 2:03 PM #85024CarlsbadMtnBiker
ParticipantBofA lowers prime-lending rate
Tuesday September 18, 3:10 pm ETBank of America Corp. has lowered its prime-lending rate to 7.75 percent from 8.25 percent, effective Tuesday.
The prime rate is a benchmark used to set interest rates on corporate and consumer credit.One of the 1st banks to do it… humm ??
September 18, 2007 at 2:30 PM #85034HLS
ParticipantWAMU blows BofA away. BofA sucks, always has in my opinion. Depressing branches.
WAMU has Long hours, great service, online banking, free checks, no monthly service fees, free outgoing wires, unlimited phone access…etc.. even a free overdraft once a year. (OK, OK crappy interest rates on deposits)
Best thing to do is keep liquid money in online FDIC insured bank account that pays over 5%, and transfer to WAMU
one day before you need it in there.
It’s been working like a charm.(Hi CMB!)
September 18, 2007 at 2:34 PM #85038johnnyre
ParticipantBof A picks up the extra slack with their ILLEGAL ALIEN credit card program they started………..
September 18, 2007 at 2:40 PM #85042patientlywaiting
ParticipantWhy not go with a credit union? I don’t understand why people would put their money in big banks and pay all the fees. Usually, it’s people with low bank balances that pay all the per item fees.
September 18, 2007 at 3:36 PM #85052Participant“WAMU blows BofA away. BofA sucks, always has in my opinion. Depressing branches.
WAMU has Long hours, great service, online banking, free checks, no monthly service fees, free outgoing wires, unlimited phone access…etc.. even a free overdraft once a year. (OK, OK crappy interest rates on deposits)
Best thing to do is keep liquid money in online FDIC insured bank account that pays over 5%, and transfer to WAMU
one day before you need it in there.
It’s been working like a charm.”I love WAMU too.. they have a decent on-line interface with good features. As HLS mentions, good to go on-line with savings for a better rate of return. I suggest ING direct (orange savings acct.) that pays 4.5% and has a good auto draft from your WAMU checking acct.
September 18, 2007 at 3:47 PM #85054ParticipantCMB,
I use Coutrywide Savingslink at 5.50%, and it’s FDIC insured. Probably works similar to ING.September 18, 2007 at 4:30 PM #85061Participant“I use Coutrywide Savingslink at 5.50%, and it’s FDIC insured. Probably works similar to ING.”
that is a very decent rate for straight savings HLS -(especially after today), no strings?, min. balance?, underlying mortgage requirements ? Not a teaser rate?
September 18, 2007 at 4:40 PM #85063Critter
ParticipantWAMU has an online savings account that pays 5%. You have to get a online checking account to go with, but WAMU provides free checks for the life of the account and no minimum balance in either account. This is not a teaser rate and you don’t need to have a mortgage or anything else with them.
I like being able to be “just a click away” from transferring funds from savings to checking. With ING, it took two days to effect the transfer – not a big deal, but I don’t have to think ahead as much with WAMU.
Even the interface on their ATMS is user-friendly!
September 18, 2007 at 4:49 PM #85068bsrsharma
Participantcredit union?
Why does anyone need a bank? I haven't used a bank for over 14 years. Only recently I opened a few online accounts to spread around my deposits for better FDIC coverage. I am completely satisfied with SDCCU. Before that, I was always unhappy with Wells Fargo. Imagine being charged for checking your balance on touch tone teller!
September 18, 2007 at 5:01 PM #85071eyePod
Participant“So the typical person that has nothing to do with this mortgage fiasco gets the big thumb up the ass ”
So BofA is big and evil. So why not just change banks?
September 18, 2007 at 5:20 PM #85076ParticipantNot a teaser, no mortgage required, no strings.
Less than $10K it’s only 4% APY (3.92% APR)
$10k-$250K is 5.50% APY (5.35% APR)
Over $250K is 5.65% APY (5.49% APR)
(Retirement accounts have FDIC coverage of $250K)They may lower the rate soon, will see. If I request transfer by 4pm, it is in my WAMU acct the next morning. It’s worked great.
It was 5.40% APY, they raised it a few weeks ago.
They need the deposits, and it’s better and cheaper for them than the discount rate. It’s the highest liquid rate that I know of, and I haven’t had any problems.
Seriously don’t understand why anyone with $10k-$100K wouldn’t use them with the FDIC insurance.
Some of the “big banks” are paying like 3%…
https://bank.countrywide.com/Am I missing something ???
September 18, 2007 at 5:25 PM #85079ParticipantI left Wells Fargo when they started charging me a fee to deposit CASH into a business account.
Haven’t been back since.September 18, 2007 at 5:51 PM #85083ParticipantI am completely satisfied with SDCCU
Me too. Had online banking for years, pay ALL my bill online, great certificate rates (currently 5.25% 5-month cert) no fees of any kind.
Banks blow. -
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