I signed up for an account last week. I’m putting my paycheck thru there to capture the 3% auto-save APY and eventually get 1% on 25k. I linked to my Alliant checking and transferred 5k to get 1% on that until the DD hits and the limit goes up. A push from Alliant was overnight, a pull from ONE was much slower, it took 3 business days (Monday morning->Thursday morning), which was concerning to me. Seems like I have to push/pull from an external account for the fastest processing.
My plan with this account is to funnel paychecks through here, get them 1.5 days early, then initiate pulls into Alliant. The net is that I should get my DD one day early at Alliant over the current state of things, and still get the bonus APY with DD.
I’d consider moving my everyday banking over here with all the funny business going on with Alliant, but One is lacking in ACH speed, they do not support checks, and they do not have a bill pay service, all of which are deal killers for me.
Some of us have Keesler HIMMA+ for liquid savings.
We could open Bluevine Checking 1% with a modest $ amount. Keep it open as a holding saver, drawing fair % interest. We may not need it, but
nice to have. Does that make sense?
I guess it makes sense if you believe availability of the HIMMA Plus will expire with Bluevine surviving nevertheless thereafter. HIMMA Plus offers the six month rate guarantee. Does Bluevine? Absent such a guarantee Bluevine could drop its rate.
My own strategy is to put all my eggs into the HIMMA Plus basket, but to once again renew “early”, before the crowd arrives. Might work. Might not. We shall see. No guarantees.
Just to close the loop, @zzz notified me via pm that the Keesler referral didn’t get him a membership. It is now quite obvious that Keesler does not know how good looking I a̶m̶ was.
Not to burst any bubbles here BUT I have 72k in HM Bradley @ 3% for 7 months now. Which becomes 3.5 % as of 4/1 because I have their CC and just need to spend $100/monthly in your main category (groceries online). DD of SS check. So far so good and they pay the interest as promised. No wasting time running around for a 1% rate with all the hoops!!.
I have looked at HMBradley a number of times, and I just can’t fathom how they can sustain 3%. I worry they will face similar problems to Beam, which offered 4% and then just disappeared one day, leaving its users none the wiser.
Some of the other fintechs (e.g. ONE) limit the 3% to a small percentage of your DD, which seems more sustainable to me. 3% back on 100k is asking for users to park huge sums of money there for the long haul, and as each month goes by, the payouts become harder to sustain in this low rate environment.
I pilfered the below writeup, in its entirety, from Ken’s website:
Whoever heard of a free checking acct that pays 2% APY?? It pays 2% on balances up to $11k and 0.50% above that. To get the rate, you must maintain a $2,500 balance, receive e-statements, and receive a monthly ACH credit of $500 or more - no DD or debit card purchase requirements. You must also keep $50 in a standard savings acct. Anyone can join by becoming an advocate for the American Diabetes Assn, which costs nada.
I happen already to be a Money One member and can report no problems over the years. It is a small credit union. I remember the president there, a woman, was nice to me and did me a good turn, way back, in an add-on CD situation.
Sorry for possible misunderstanding. I am not required to have $50 in my savings because I am not a participant in the Earn Checking deal I posted, above. I think I have three bucks in savings at this time.
Were I to sign up for the Earn Checking deal I assume I would have to increase the balance in my savings to a minimum of fifty bucks, and maintain that higher balance, in order to qualify for the deal.
So I’m not sure what you were agreeing with, then? Because on their website, there is zero mention of any savings account requirement tied to this checking account. The only mention of $50 is that it is the minimum deposit to open this checking account.
As a credit union, typically members are required to maintain a savings account with the required amount to represent their share of ownership in the credit union. I was assuming that the reported “required” savings account is merely the account required for membership, since there is no othe rmention of such a requirement tied to the checking account.
But you are apparently disagreeing with that assumption, despite posting that you agree?
