Best Nationally Available High APY Liquid Accounts

I disagree with this . . . . . respectfully, of course.

First of all, I never went in at EBSB, though I am at Northern. This is because I place a VERY high premium on rate locks. Am a big fan. And EBSB never, to my best knowledge, offered one.

The best liquid funds deal available today, for anyone with $10,000 or more to invest and seeking an insured, liquid, account with a rate lock, is at PurePoint. It is the PurePoint NPCD paying 2.5% APY and locked for thirteen months.

CAVEAT

My own PurePoint NPCD accounts were completed several weeks ago when the PurePoint interest rate was 2.6% APY and the above rate lock terms were operative. My own principal home for liquid funds, as with pattyb53, is at Grow. However, I’m a believer in diversification, hence the decision to go with PurePoint as well.

Point is, I do not know whether, when PurePoint recently lowered their NPCD rate from 2.6% APY down to 2.5% APY, they also changed their rate lock terms. If you opt for PurePoint now you need to ascertain whether or not the original 13 month rate lock remains operative. A quick telephone call to them should do the trick.

As for me, I am standing pat at PurePoint. I have even pulled money out of Grow in preference to closing any of my PurePoint NPCD accounts. This is because, at Grow, I have the option of replacing those funds at 2.75% whereas at PurePoint, once you close an NPCD at 2.6%, that is all she wrote, you’re done, and the account cannot today be replaced at that interest rate.

Thanks @shinobi, I completely forgot about the NPCD option!!

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I’m going to call EBSB on Monday. Several of you have said that you are still getting the 2.5%. I’ll check to see if my rate of 2.02% is based on removing of funds. I’d like to find out if they have a tier rate & if I add more funds they will raise the rate back to 2.5%.

I have a CD at Justice that matures today. I’ll probably put the funds into Grow 2.75%, but I’d also like to keep EBSB if they will raise my rate up with more money deposited.

For those of you that use EBSB. I just spoke to a rep about the my rate. I was told that my rate went down because I had a balance lower than $5000. I’m going to add more $$ to this account now to up my rate back to 2.5%.

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Good to know, thanks @pattyb53

Don’t know why EBSB is so slow with transfers. Yesterday I transferred $$'s over to EBSB through their own site & still today the funds are not showing. At the same time I also made transfers to Alliant CU & today the money is there waiting.

This is extremely nerve-racking!! Alliant CU is so reliable, if only they would raise their interest rate.

You make it sound like EBSB is the exception. There’s only a handful of banks that handle “next day transfers” of which Ally and Alliant are the only two that come to mind off the top of my head. Most everywhere else you can expect 3 to 5 business days. Other’s like Purepoint offer “0 day interest on deposits” but may be just as slow as normal on external transfers.

I routinely use PurePoint’s facilities to ACH money, on deposit there, out to other financial institutions. I have never experienced an example of other than next day delivery. And I have at PurePoint until nine o’clock at night, ET, to schedule the outgoing transfer for next day delivery. Sweet.

Ally Bank, on the other hand, I have found to be unreliable and unpredictable when it comes to ACH performance. Yeah, I know well they have a set of rules, a maze you must navigate, and hoops you can jump through to achieve next-day ACH. Straight up:

I cannot be bothered with Ally’s BS when great ACH service is available to me straightaway at either PurePoint or at Alliant without all the asinine crapola.

Period

I’m not sure what hoops you are encountering but I scheduled a transfer today from Ally Checking to another account so I could pay taxes and it just was “1 day”…other times it’s been 3 business days but I think that was more an issue with the destination bank than Ally. In the end all that is important is that each of us find a method/place that’s comfortable.

Between taxes being much higher than I expected and finding out I’m going to have to pay 20 grand on getting the foundation of a house “repaired” (and “passive water damage” is not covered by insurance) I need interest rates to hurry up and go back up! :wink:

EBSB has an ACH initiation platform?

You’re right, there are probably many other establishments, but I was not thinking at the time.
My deposit to EBSB did show up today. I ach transferred on 4/8, received on 4/10. Money will not show available, probably 3 days from 4/10.

Investor’s Bank with all credit to AnnO:

Link to deal

Looks like a competitive deal for liquid funds except . . .

I dunno about a rate lock :slightly_frowning_face:

Yes, I agree… Just wondering how long the rate will last. I don’t think we have any other 2.5% liquid account that tells us a length of guarantee.

I believe the PurePoint NPCD deal at 2.5% carries a 13 month rate lock. NPCDs are liquid.

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in fine print from your link
This is a variable rate account; your interest rate and APY may change at any time.

I posted about Investor’s Bank upthread. The positive is they had been at 2.4% and steady at that rate for awhile before they increased to 2.5% recently. My thought upthread was that given that, there’s a decent chance they’ll keep it at 2.5% for awhile.

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I bought into the PurePoint NPCD accounts back when they were at 2.6% APY. More recently PurePoint has lowered the interest rate of this account type to 2.5% APY.

I just checked my NPCD accounts. They remain at 2.6% APY.

Regarding the PurePoint NPCD accounts, which are liquid accounts:

Once you buy in, the interest rate is locked for the life of your NPCD. The interest rate does not vary.

Now of course if you were referring to the Investors deal, that is another matter entirely and I agree with you.

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I apologize for the repost. I did look up thread for another Investor’s Bank post, but I failed to see your post. Sorry

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I was referring to your discussion of Investor’s Bank . Looks like I replied to the wrong post sorry

Web Bank up to 2.45% from 2.40%