Best Nationally Available High APY Liquid Accounts

Barclays ↑ 1.85%.

Ally went up to 1.80%.

The top tier of 11-month no-penalty CD (essentially liquid) went up to 2.00%.

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Ken now featuring the Ascent deal. It’s for large balances only. It pays 2.25% with a rate lock.

I’m not in. But deal might be of interest to some persons who missed out on NBD.

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Thanks for pointing it out shinobi. For some reason that blog entry didn’t show up in my email. I’ll have to look into that. Northpointe was locking folks in at 2.05% before they dropped to 1.95% weren’t they? I’m thinking they are a logical choice to move funds to the Customers Bank Ascent deal.

I decided this was important enough to put into a new message as I had added it to my old one.

I know folks rarely read these things but in applying to Customer’s bank did anyone else notice the “Consumer Disclosure” you HAVE to agree to says:

The interest rate on your account is 2.01%
The annual percentage yield (APY) is 2.03%

It does NOT say 2.25%. I did finally find a customer service # in their disclosures (but not anywhere on their webpage?) which was 866-476-2265. On one hand I have an issue from a legal standpoint of agreeing to a lower interest rate but on the other it’s a liquid account I should be able to remove the funds from if there is an issue so am I getting all worked up over nothing? The customer service individual assured me I’d get the new rate even though their pages had not yet been updated.

post moved to the CD Thread. Sorry about that

For the Customer Bank Ascent deal, I have not yet figured out how to set up a POD.

If anyone learns how before I get around to calling them, please post.

I just got off the phone with Customer’s Bank. You have to do PODs with a phone agent and email. They don’t do them online.

Much more alarming however, I discovered they do not support outgoing wires nor outgoing ACH. This is a huge problem for large balances (which is the reason for PODs).

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Wouldn’t that be illegal? If I have a large balance and wish to remove it from a bank’s supposedly liquid account they can’t just tell me no which is what eliminating outgoing Wire AND ACH does (except some banks can hold the money for xx days if their disclosures notify you of this at signup but I don’t recall seeing anything like that in customers bank)

Or does that still allow for externally initiated ACH’s from a hub bank like ALLY that transfer the funds out?

sfchris is a long time poster here and a really smart guy. So he will be hearing neither disrespect nor negative pushback from the likes of me. Period.

That said, I honestly never have encountered a financial institution that declines to honor ACH funds movements involving their accounts, when those funds movements are ordered (i.e., initiated) from outside that financial institution. Thus:

In light of sfchris’s post I would suggest a HUGE, GIANTISMAL, red flag has been raised regarding Customer’s Bank. Either that, or the representative with whom sfchris was speaking did not have a clue.

Regardless, I would not go near Customer’s Bank until this is disproved. Paper checks are SO twentieth century!!

To clarify: The Customer Bank rep I talked to said they don’t have the ability to INITIATE outgoing ACH nor outgoing wires. Obviously, incoming ACH works and I am sure you can pull an ACH out via another bank (Alliant pulled a few cents during the validation process). I stupidly failed to ask about wire transfer initiated by an outside bank. For very large balances, wire transfer is important. I will follow up again later and let you all know.

It’s potentially worse than that…no paper checks are issued for the account so you may have to go through some procedure to have one issued…etc.

Oh, well that is different and it’s not a big deal at all. Most posters here have hub accounts to deal with situations like this. I withdraw my red flag.:grinning:

Queue Dido singing White Flag.

Isn’t that what some people were saying Popular Bank was doing to them and Popular was able to get away with it

Yes…as I stated if they display it at signup and you still approve it then they can get away with it but again I didn’t see any dialog like that when signing up. I’m one of those that does actually at least browse the documents hence the post a while back for one of the credit unions where the customer disclosure still had the OLD interest rates listed. I refused to sign off on the disclosure.

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Regarding the Customers Ascent deal:

Important you read this post:

This bank is enough to freak anyone out!

Seriously, you gotta read that post. Just read it.

And BTW, my red flag is back up. This bank is seriously wack. Where the heck is my ten foot pole?!

I’ll just confirm this mess. I just called and the 5k/50k hard limit was confirmed. I had regrettably moved a large amount. I told them to close the account and send me the full check. I’d rather lose some interest than have it tied up in some weird bank. They said they’d notate my account for a service request to close it but no info on when I can expect check to be mailed. This was a MAJOR mistake.

I initiated a larger than 5k ach transfer from Customer’s Bank to Ally to see what happens…if they are this screwed up it’s always possible it will work. A previous poster indicated closing the account requires a 14 day notice.

Totally. You run into these messed up banks from time to time. My “go to” example is FNBO. That bank was completely off its rocker!! I got out but not too soon.:grimacing:

More recently we have seen Popular and now this nutty Customer’s Bank outfit. My take is that there are literally hundreds and hundreds of great financial institutions out there. We are free to pick and choose among all of them as we please. It’s a candy store, a smorgasbord of wonderful banking opportunities. So it makes no sense whatsoever to deal with the very small number of wack job banks unless we are forced. And we are not being forced at all.:wink:

Bottom line you are really smart to just get out and forget about them. To hell with them. Who needs some nut job bank that doesn’t even know which end is up!! Who can guess what stunt they will try to pull next!!

For some good reason I missed this one… Usually I’m right in!!

I did jump in to Popular Direct with a large amount of $'s. When I began to see Big Problems I re-read their info. Seems I must leave $500 in account for 6 months (I think). So I’m setting & waiting with Popular still holding my $500.