Berkeley CSUA MOTD:Entry 46473
Berkeley CSUA MOTD
2019/05/21 [General] UID:1000 Activity:popular

2007/4/28-5/2 [Finance/Banking] UID:46473 Activity:kinda low
4/28    Reviews on money market/direct accounts as of April:
        ING Direct: 4.50%. Takes about 3-4 days to transfer to/from your
                bank accounts. Can link up to 3 accounts. The UI is very
                simple and the security is very good (random keypad that
                requires the mouse). Adding a new account requires you
                to send them a void check.
                \_ I recently opened an account with ING direct and linked it
                   to my checking account.  I did not have to send them a
                   voided check; the process was the same one you describe
                   below for Emigrant Direct.
                   \_ Yes first account is easy, 2nd and 3rd link requires
                      a void check. Stop interrupting my post asshole.
                \_ Also have "all electronic" interest-bearing checking
                   account. You can transfer money to any other bank
                   account. Will also mail checks.
        Emigrant Direct: 5.05%. Takes SEVEN days to transfer to/from
                bank accounts. The UI isn't as intuitive as ING but it
                is quite decent. Linking accounts requires you putting
                in bank routing+account, and when they deposit/withdraw
                2 amounts, you put that in. High interest rate, but
                takes too long to transfer in/out of the account.
        PayPal: 5.04%. Takes 3-4 days. High interest rate and low
                transfer time. I'd transfer all of my money into it
                except I've heard a lot of bad things about PayPal's
        \_ Anyone try HSBC Direct?
        \_ Vanguard Prime Money Market: 5.10%. Takes 2-3 days. Quite reliable,
           none of this fuzzy, hand-waving "ACH is unpredictable" bullshit.
           $3000 minimum balance, $100 increments, tho.
        \_ Amtrustdirect, 5.36% APY, $1000 minimum.  Website isn't as good
           as ING.
        \_ Note that even for, say, $10k, the yearly income difference
           between 4.5% and 5% is $50.  I suggest basing your choice
           primarily on features rather than interest rate.  -niloc
2019/05/21 [General] UID:1000 Activity:popular

You may also be interested in these entries...
2013/7/31-9/16 [Reference/RealEstate, Finance/Investment] UID:54720 Activity:nil
7[31    Suppose you have a few hundred thousand dollars in the bank earning
        minimum interest rate and you're not sure whether you're going to
        buy a house in 1-5 years. Should one put that money in a more
        risky place like Vanguard ETFs and index funds, given that the
        horizon is only 1-5 years?
        \_ I have a very similar problem, in that I have a bunch of cash
2013/5/13-7/3 [Finance/Banking] UID:54676 Activity:nil
5/13    Does FDIC ever matter? How likely is it that your deposit of
        over $250k going to be screwed over in a major US bank?
        \_ Was Washington Mutual a major bank?
        \_ Was Washington Mutual a major US bank?
        \_ Hahahahahahahahahahaha. Good one.
        \- As with nuclear weapons, this insurance produces much of its value
2013/3/9-4/16 [Finance/Banking] UID:54621 Activity:nil
3/9     In a 15/30 year loan, the amount of payment stays the same but
        the payment on interest decreases while the principal increases.
        Suppose I decide to pay off a huge chunk of principal, will
        the amount of interest I need to pay decrease drastically, or
        do banks still want to take out a huge chunk of interest rate?
        \_ You don't actually have separate "interest" and "principal"; you
2011/11/27-2012/1/10 [Finance/Banking] UID:54243 Activity:nil
11/27   Whoa, since when did FDIC coverage go up to $250,000? That's cool.
        So is this coverage per customer per bank, per account per bank,
        total per person, etc?
        \_ I believe that it is per customer per bank. Not 100% sure though.
           \_ Yes, and you can get even more with joint accounts, etc.: