Calfirnia Coast credit union

[HLS]

There was a story (not sure if true) about a bank that FDIC seized, and a married couple who had a $200K acct POD.

The husband died the same day that the bank was seized, meaning that the entire $200K became the wife’s and she was only covered to $100K…

Someone figured out that the husband died at 10pm, but the bank was seized as of 3pm, which meant that HE was alive and covered by FDIC at 3pm.

SO, the wife got the $200K coverage.

http://www.fdic.gov

Retirement accounts can be covered to $250K

[Raybyrnes]

Wamu had a pretty decent deal going back that offered 7 and 10 month CD’s that provided an add on feature that was paying 5.45%. you put in 5000 or 10 K and you have the opportunity of adding up to the amount you put in. Minimum amount was 1K.

They also had an online offer for 5.5% on 6 month CD’s so their was a good opportunity of setting up a short term fixed income ladder.

Needed to be new money.

As a heads up to those fixed income people. If you have large amount to invest (100K+) you may want to simply speak with a branch manager. They have some discretion with the rates with respect to CD’s. One of the benefits of stopping by the bank and getting to know a manager. Relationships still count.

[what_a_disasta]

Last time i was in London I opened an HSBC premier account and get 5.75 on checking and 6.75 on savings. All calculated daily and paid monthly. It’s in GBP, not USD, so I’ve made an extra 2% due to the dollar’s decline since I opened it. I can transfer money for free on the net to my local HSBC dollar account whenever I need it. I believe you can set all this up by phone/fax too.

Highly recommended as HSBC is the largest bank in the world, if they fail we have a lot more to worry about than our savings.

[Author]

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