I did not know it had closed.
So for future reference on how long agfed deals last it was open for a week or thereabout? Opened on the 28th and closed on the 6th? Is that correct?
It varies. But this was a VERY tough situation owing to the July 4 holiday.
Your safest bet with AgFed is to mail a check the moment you learn about a new deal. I was too lazy to do that, opting instead for incremental ACH out of Alliant. When my final ACH arrived early Friday, apparently the deal already had evaporated though I was unaware. But, lucky for me, they accepted the money regardless. Warning flags were flying that the AgFed opportunity would be gone quickly. I thought the deal would last a bit longer and I was 100% wrong.
Anyway, only option remaining now for liquid funds is NBD. And that is where mine are headed. Just hope I can get the money out pronto should need arise.
shinibi…Like u I just withdrew funds from Northpointe savings 2.05%. I left a measly $1 in the acct, hope no penalty fee arises. I have taken funds out of AgFed but last year they offered a pretty nice rate for me to leave my remaining money in AgFed. So it will stay there. (for now) I also have the Northern Bank savings.
So what’s the deal going on now with all these short term CD’s popping up on Ken’s site? 9 Mo 2.75% or 15 Mo 2.80% opposite Northern Bank savings 2.26%??
Data point albeit on a very small amount($10,000) - using Alliant with no issue.
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Nevertheless a real help. Thank you so much for posting. I appreciate it very much.
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Opinions on this matter differ. I offered mine here:
I posted that on the CD thread because, as you point out, those are short CDs and not (supposedly) liquid funds. But your post raises implicitly a much larger point:
Given the shape of the yield curve now, the traditional bright line between liquid funds and (even short) longer term CDs is becoming blurred. This is forcing us all to make a choice, with the usual and customary “rules” having become a bit smudged. Here, again, everyone will have a different opinion and approach. I wrote about my own approach in response to another of your questions, here:
Approaches will differ. Here is mine.
I wish I knew with certainty the right answers. But my crystal ball is muddier than hell.
Northpointe LOWERED (not increased) their rate today…from 2.05% to 1.95%…glad i decided to close them…
Last I recall the 2.05% rate was guaranteed for one year yes? Did it show lowered for YOU in side the account or just on their website?
Just checked mine…still at the higher interest rate.
I’m in the process of closing mine, and it just has a small balance in it, so i can’t really check…but i guess you will continue to get the 2.05% since they did make a 12 month guarantee…However, that means new customers will be getting 1.95% instead and i think it also indicates they probably will not be upping the 2.05% rate for those already getting it (as the majority of online banks eventually get near or reach their rate)…
Received this today in email:
Thank you for recently opening or applying for a new Northpointe Bank Ultimate Savings account. Our 2.05% APY* Ultimate Savings offer will be closing for new applications as of Monday, July 9th at 6pm ET.
This change does not affect your account – your application was submitted prior to this date and is therefore locked in at 2.05% APY* for at least 12 months from the date of account opening.
Please let us know if any questions, and thank you for banking with us.
Sincerely,
Bill Clancy
Vice President, Deposit Banking
*Annual Percentage Yield effective 07/09/2018. After the twelve (12) month promotional period, rate may change based on prevailing market rates. Promotional interest rate applies to accounts with balances between $25,000.00 - $1,000,100.00. Rates are subject to change without notice. Tier 1 $0.00 - $24,999.99: 1.12% APY, Tier 2 $25,000.00 - $1,000,100.00: 1.95% APY, Tier 3 $1,000,100.01+: 1.12% APY. Fees may reduce earnings on the account. All new accounts are subject to Northpointe Bank approval. Not valid with any other offers.
I got it too (even though i am closing mine)…Oh, you are definitely guaranteed to continue getting it for 12 months…However, as i mentioned, the fact that they lowered the rate for new applicants indicates to me that you should likely not expect any increases on the 2.05%…In fact, what they might well do is simply bump up the new applicants to the 2.05% which will make it sound like they upped their rates…Meanwhile, you will simply stay the same… 
I will just have to wait for the next great deal. Some things are annoying…Live Oak’s 1 year cd was 2.10% and is now 2.50% but I’m 6 months in and ETF is 3 months interest so not worth changing it right now.
This reminds me I need to add entries to google calendar to remind me when these guaranteed rates expire although odds are the money will be moved before that’s an issue.
Was the Northern guarantee also 12 months?
update It was guaranteed until June 30, 2019 rather than x months.
Northern played the same game…although they dropped the rates for new applicants a LOT quicker then Northpointe did…
I wouldn’t trust either one for the long term, for sure…
I wonder what’s going on with LiveOak. Their savings account has been stuck at 1.7% for quite awhile. They had previously been consistently competitive.
Capital One 360 Money Market increased to 1.75% for balances of $10,000 or more.
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Thanks for updating the APY and date. Please remember to also sort the table by APY (highest first), then by “Since” date (earliest first). It’s not automatic – have to manually cut&paste the rows.
Thank you for doing so, scripta, assuming you were the one that sorted it for us.
Would it make sense to have a threshold for just deleting stale entries that are no longer interesting at all? Say, any entry that is not in the top eight APYs that is more than six months old. Do we really need to list 1.30% from 04/21/17, for example.
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The “Since” column indicates on which date the APY last changed. Being a year old doesn’t make it stale, just means the bank hasn’t changed rates in a long time.
Yes, I agree that some entries no longer qualify as “best” and should be removed. I haven’t done so because we don’t have set rules for how to do this, and because if they raise their rates, adding them back would require searching through edit history to get the information for all the columns. And I just realized that deleted rows could be saved in a post, so they’ll be easier to find. Not sure I agree about “top eight”. I think the rules should be something like top 25 and/or within approximately 0.5% of the leader.
I’ll try it in a second.
The following entires have been removed from the wiki (edit: decided to drop a few more):
| APY | Since | Bank/CU/Other | Min | Max | Hard Inq | Chk | Dbt | ACH | Th | Notes |
|---|---|---|---|---|---|---|---|---|---|---|
| 1.60% | 01/24/18 | UFB Direct MM Savings | $5K | N | Y | Y | Y/Y | |||
| 1.58% | 07/01/18 | Self-Help CU MMA | $500 | ? | Y | Y | ?/? | $5 fee for balances < $500 | ||
| 1.55% | 01/04/18 | CIT Bank Premier HYS | $100 | N | N | N | Y/Y | Free outgoing wires to linked ACH accounts. Note CIT also has Money Market account that pays higher APY so no reason to consider their HYS. | ||
| ↓1.51% | 06/20/18 | Northern Bank Direct MMA | $5K | $250k | Y | Y/Y | $3 ACH out fee | |||
| 1.50% | 10/31/17 | Northpointe Bank Ultimate MMA | $25k | $1mm | ? | ? | ? | ?/? | ||
| 1.30% | 04/21/17 | BankPurely Savings | $0 | N | N | Y | Y/Y | |||
| 1.30% | 09/01/17 | Nationwide OSA | $25 | N | N | Y/Y | $3 fee unless $300 minimum balance or $25 direct deposit |
ESRB Direct survived the reckoning due to a rate increase to 1.8%.
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Don’t want to tell you all how to do business here but if you’re going to go deleting banks, it may make sense to check them first. Colorado is actually at 1.9% and belongs in the main table…