It appears they don’t pay interest on the MM account on the first $5,000 you have in the MM account:
Balance Tier
APY% Rate⁵
$.01 – $4,999.99 0.0%
$5,000.00 – $999,999.99 1.80%
$1,000,000.00 and above 0.00%
Man, no one bumping up rates after the fed raise? Disappointing.
They have been but they just have not been competitive with recently posted deals…why tell you about a 5 year 3% cd when a 5 year 4% deal was recently posted? etc…just be patient as the deals should keep coming along. I have no penalty cd money ready to go into the appropriate deal…I’ll even consider long term if the right rate comes along with it.
Is there a thread here that talks about “bargains” on stocks? I just got approved for robinhood on the web (free stock trades) and thought about dabbling in some outside of the normal etf’s I’m in via wisebanyan.
Ever heard of the efficient market hypothesis?
Depends on whether I know it by another name…would that be the notion that buying over time and dollar cost averaging is the only way to reliably get ahead? This is certainly a valid thought but on the other hand nothing prevents someone from taking a few thousand they are willing to lose and playing the odds of trying to “buy em while they are down” in addition to the other methods available. I’m looking at some potential stocks to hold about a year…specifically this article has my attention: 3 Top Bank Stocks to Buy Right Now | The Motley Fool (JPM and the TARP Warrants although I need more info on how these work)
…but again I don’t want to get in trouble for going off topic so if there is a better place to do it I’m happy to move the conversation.
Wisebanyan is currently playing with this portfolio:
| INVESTMENT | TICKER | % |
|---|---|---|
| US Market | VTI | 45.6 |
| Foreign Markets | VEA | 24.3 |
| Emerging Markets | VWO | 4.2 |
| US Market | SCHB | 1.8 |
| Foreign Markets | SCHF | 1.7 |
| Emerging Markets | IEMG | 1.7 |
| US Treasuries | VGIT | 5 |
| High-Grade Corporate | VCIT | 4.4 |
| TIPS | TIP | 4.1 |
| High-Yield Corporate | SJNK | 2.3 |
| Real Estate Investment Trust | VNQ | 1.8 |
| High-Grade Corporate | LQD | 1.3 |
| Short-Term Corporate | VCSH | 1 |
| High-Yield Corporate | HYS | 0.6 |
| Real Estate Investment Trust | IYR | 0.1 |
| Ca$h Money | USD | 0.2 |
No, and a simple search would have explained it. EMH is a theory that states that asset prices fully reflect all available information. If you believe that, then there’s no such thing as a “bargain.” The only way to find a “bargain” is by knowing something that nobody else knows, therefore there could be no thread about it.
I think we only have one individual stock discussion thread, but you can always start a new one if that one doesn’t fit.
Yes I did a search afterward and thought it still sounded alot like what I said. No Bargains = “The only way to really achieve profit is holding stocks longterm” etc.
On the other hand I’ll argue that at certain times the price of stocks are EMOTIONALLY driven. Facebook is a perfect example of that right now although not something I’d ever invest in. Although I don’t do option trading it would appear to be in direct opposition to the EMH. Additionally Warren Buffet and others have consistently outdone the S&P in direct opposition to the EMH. Anyway there is obviously no thread here so no need to discuss this further.
Sallie Mae MMA is now @ 1.55%
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They told me they did the extra verification steps the first time I made a transfer to a new external account… haven’t had the issue except the one time.
Alliant savings account up to 1.50% now. Updated Wiki.
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Popular Direct now has a 2.00% APY “Exclusive Savings Account” on all balances. $5k minimum opening deposit, although the minimum balance to earn the stated APY is only $0.01.
(edit to add the following) -
Minimum opening deposit is $5k
$4 monthly service fee if the balance on any day is below $500.
$25 early closing fee if account is closed within 180 days of opening.
$5 monthly dormancy fee if there has been no activity for 12 months.
Withdrawals only allowed via an external account, internal transfer to another Popular Direct account, or ACH.
$5 fee for each additional debit exceeding the limit of six per statement cycle.
Deposits only allowed via an external account, internal transfers to another Popular Direct account, ACH, or Popular Direct mobile app.
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That’s awesome. Do you know if they will open an account without a Hard Pull (HP)?
Link to turtlebug’s new 2% account: https://www.populardirect.com/products/savings/popular-direct-exclusive-savings
There is a cautionary tale in a review here:
https://www.depositaccounts.com/banks/popular-direct/offers/
Hope that this gets the rates elsewhere to move upwards sooner rather than later. Otherwise I may risk opening the account even when they may not raise the rate again in a raising rate world and with the $25 closing within 6 month fee. The early close fee and the dormancy fee are keeping me on hold for the moment.
You are worried about keeping $500 in the account for no more than 6 months, before actually closing it?
Ok I see above where the specifics state $500 to avoid fee. Oops. That’s more attractive than the $5K.
any referral bonus for ablebanking?
I asked at ablebanking.com for additional ways to earn $ for the charity of my choice. They replied:
ablebanking.com will donate twenty five dollars to a charity of your choice when you open an account.
"We give you $25 (of our money!) to give to any charity you choose. (Must be a 501(c)3)
When your friends open an account, we’ll give an additional $25 to any 501(c)(3) charity you choose. The more friends , the more good you can do."
My charity choice is Friends of the Shelter,
EIN 810509474. I love this 501(c)(3) group because they provide financial help for pet care without an in depth interrogation. All they want is to help the animals.
We help pet owners with the cost of spaying and neutering their animals in order to help curb animal over-population.
We help pet owners with other unexpected medical costs of illness or injury to their pets.
We help shelter pets with medications, surgeries, treatments and lab test that would not be covered by the shelter’s general budget.
We help potential adopters take home animals from the shelter by providing assistance with costs associated with adoption, health care, etc.
If anyone opens an account & uses my name on the form (reply here & I will send you my name), Friends of the Shelter will get $25.
Interesting Charity. I just had mine donated to a local no kill animal shelter.
I’ve been keeping an eye out for a deal worth tying up my money. I’ve got some in Ally’s no penalty that is only earning 1.75%…I’ve seen two banks offering 1.85% and 2% for their savings…has been tempting. I like being in the position where banks are competing for our business again. Lets hope the stock market downturn doesn’t change things to much.
thx for reply
RE:“two banks offering 1.85% and 2% for their savings” which 2 banks?
Salem 5 1.85% (mentioned in OP) and Popular Direct 2% (mentioned multiple times in last several pages of this thread).