Indeed, I panicked a little, thinking they might have been majorly downgraded, but Reg D has never been relevant to me. If you’re concerned, why not just transfer everything from the savings to the checking after your 5th withdrawal?
In any event, why do we refer to DepositAccounts as “Ken’s website”? Are we supposed to know who Ken is?
How long have you been here? Just being more personal for those of us long termers. 
Yeah, I don’t view it as a big deal… I just wonder if it is a harbinger of things to come with a new CEO.
Weiss downgraded them to a C- a few months ago, which makes me think that losing perks (like the $20 in ATM fee reimbursements) or increasing the costs of certain services (same-day ACH, wire transfers, etc) are on the horizon. They must make enough revenue from the Regulation D fees that they don’t want to give that up.
If these changes come to pass, then yes, I’ll be shopping for a new primary financial institution.
Thanks, and I agree. It’s not a big deal so long as you know about it. 
When Reg D was relaxed on the six/month a while back some financial institutions went along with the change. It’s not a big deal so long as we’re all aware Alliant did not go along.
The other thing interesting in there is the need to apply to Alliant in writing for an exception. I mean, what are we back in the last century or something?! You have an emergency and they require you to apply in writing!!
As for me personally, I have so far observed the old 6/month standard, even though doing so is at times a nuisance. It would be nice if Alliant got with the times.
It’s not “we”, it’s just one or two annoying* users
*because this has been brought up in the past.
Most of us registered on this site the same day. Not sure how long either of you were on FatWallet, but I was active since 2003 and have known about DepositAccounts for a long time, yet I’m pretty sure nobody else ever refers to it as “Ken’s site.”
My oldest FatWallet email is from 2016, but I have to think I found it before then.
Statement date this month is October 14th.
Next ones:
November 13th.
December 14th.
Why do you care what date the statement closes?
I try to time large charges to the card so they happen just after the statement closes. That way I have an extra month to pay off whatever it is I’m charging.
I sometimes pre-pay the balance so my credit score stays super high.
Yep, pay the balance by the statement date and zero balance shows on your credit report for 30 days. It keeps your credit score much higher,
Oh. You are referring to the credit card rather than a deposit account. I closed my Alliant CC, didn’t seem worthwhile when they increased the fee and BofA offers higher cashback with no fee.
Higher than 2.5% on everything with no fee?
2.625% on everything. There’s a $95 fee, but it has a $100 annual travel credit that I just use to buy an American Airlines Gift Card. Those could be resold easily pre-pandemic which would cover most of the annual fee. Nowadays, probably easier to just use the gift card on air travel.
It’s too complicated and too much work for me, and there is a fee. I like to keep it simple.
I’ve already received great benefit from the Alliant card with a year at no fee and 3% rewards, then a couple years at $59 fee. They charged me $59 again this year. I’m not sure why. But it’s still well worth it to me with a $99 fee.
I haven’t done it myself because I just hate BofA, but It’s not that complicated. Transfer $100K into Merill, collect $250-$500 bonus, wait 3 months, get the CC (with $500 bonus for $3K spent). Both cards have similar annual fee, but 2.625% + $100 travel credit > 2.5%.
Huh? You have to give them $100K too?!? I don’t have a spare $100K to save a few cents on a credit card. I’m definitely not tying up large funds with a financial institution I don’t use for such tiny rewards. It’s not worth jumping through hoops for.
Also, I don’t use the big banks like B of A because of the probability of problems with them.
How do you still not know this? It’s the biggest hoop. The base reward on the CC is 1.5% CB, plus a 10% bonus if you redeem into a BofA checking or savings. The deposit at Merrill can be in an IRA account (free stock and ETF trades) and gives your base reward a higher bonus: 25% for $20K, 50% for $50K, and 75% for $100K (1.5%*1.75=2.625%).
This is ideal for people who have $100K+ in a brokerage or IRA with no rewards. Even better if they charge a lot in the “everything else” category. Alliant break-even vs no-fee 2% card is $19800/yr. So if that’s all you spend in a year, you’d come out ~$130 ahead with the BofA combo (same annual fee, travel credit, higher CB).
Yes, I’ve seen that before. I just didn’t think new posts would not mention a deposit of $100K. I wouldn’t post on a card without mentioning that.