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DRTDEVL

DRTDEVL

Mothfukle
Joined
May 19, 2020
Member Number
78
Messages
768
Loc
Austin... TX? Nope. Minnesota!
Out from another thread... regular savings rate of 4.05%. That's nearly 17 times what I was getting at NFCU, so I opened an account.

Anyone else use them? I opened the account Wednesday, and deposited a $1,000 check on Thursday. The money came out of my NFCU account, and the deposit shows "posted" in my new account, but the available balance is still $0.

So now I'm trying to ask them what's up. Their phone system estimated 21 minutes on hold... 78 minutes ago. WTF???

If this is indicative of how they do business, I'll just take that small deposit elsewhere, along with the big ones that were to follow once I linked accounts and such.
 
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When I opened my account there, I remember there being a disclaimer that my deposit would take a few days to post, then a couple more to be available, but interest would be calculated from the original deposit date. Monday was also a banking holiday, so even more delayed.

Also from Navy Fed to CIT, only difference is I used an ACH transfer and not a physical check. I've only dealt with online banking and never called.

Disclosure: I'm the one that recommended them in that thread. I found them searching rates for my savings, which eas 3.65% when I opened it, 4.05% now. Before I put my money in, I asked my Dad (an accountant) if he had heard of CIT. He had been involved in corporate products from them (annuities, etc) in the life insurance world before he retired. I have 50k in my savings over there personally, and have no incentive to drive business that way.
 
The deal is there is a 7 BUSINESS day hold on mobile deposits. Why? Don't know. That part seems to really suck. But 2-3 business days for transfers from linked accounts once everything is set up.
 
Lowrollin70gmc said:
When I opened my account there, I remember there being a disclaimer that my deposit would take a few days to post, then a couple more to be available, but interest would be calculated from the original deposit date. Monday was also a banking holiday, so even more delayed.

Also from Navy Fed to CIT, only difference is I used an ACH transfer and not a physical check.

Disclosure: I'm the one that recommended them in that thread. I found them searching rates for my savings, which eas 3.65% when I opened it, 4.05% now. Before I put my money in, I asked my Dad (an accountant) if he had heard of CIT. He had been involved in corporate products from them (annuities, etc) in the life insurance world before he retired. I have 50k in my savings over there personally, and have no incentive to drive business that way.
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I don't quite have $50k to put in there yet, but I think I am doing pretty good in my savings accounts merely 2 years post-bankruptcy and having spent 6 months out of work due to illness. I'd have more, but I just dropped some coin on an FJ62.
 
I'm not a big baller, that's nearly all my build a shop money I've saved up. Just put it out there to say that I'm not recommending something I don't personally trust.

I don't want to risk that much cash in the markets, when in my case a ton of it will be spent next summer and fall.
 
DRTDEVL said:
Out from another thread... regular savings rate of 4.05%. That's nearly 17 times what I was getting at NFCU, so I opened an account.

Anyone else use them? I opened the account Wendesday, and deposited a $1,000 check on Thursday. The money came out of my NFCU account, and the deposit shows "posted" in my new account, but the available balance is still $0.

So now I'm trying to ask them what's up. Their phone system estimated 21 minutes on hold... 78 minutes ago. WTF???

If this is indicative of how they do business, I'll just take that small deposit elsewhere, along with the big ones that were to follow once I linked accounts and such.
Click to expand...
Try calling Bank of America right now. There computer wont even give you a wait time, it just says to try calling back later and hangs up on me.

I zelled my wife some money the other day and BOA managed to make it vanish even though USBank shows it went through. They must have 3 people total answering there phone system.
 
Morgan Stanley also has a savings account at 4%. That's where I've got way too much $$ parked.
 
I have had a UFB account for the last 9 months without issue transferring money to and from. I'm at 3.1% and I see they now have a 4.21% but don't have a phone # to see if I can get in on that or I will close my account and start fresh with new account to earn an extra 1% if so. I've got $40K in there so 1% is a decent raise for money sitting in there doing nothing with.
 
DRTDEVL said:
The deal is there is a 7 BUSINESS day hold on mobile deposits. Why? Don't know. That part seems to really suck. But 2-3 business days for transfers from linked accounts once everything is set up.
Click to expand...

I had a loan through Oregon community credit union and it was like that. PITA! Transfer money from my bank an then a week later make the payment
 
Interest rates are climbing, so will the rates banks give to park your money in them.

Your parents/grandparents lived through a era of high inflation and rates, that’s why they would always push the savings account.
 
There is a local Kansas City bank that has 3.4% savings. I have some money there. No problems from them
 
NFCU has a 5% CD

Vanguard money market is over 4%
 
I'd be worried about the fine print. In particular is it FDIC insured or is it some form of investment account, where you could potentially get hosed if the market corrects.
 
I just put in a chunk of cash into Synchrony at 4.3 APY for 5 years. FDIC insured. Lot of various time length Account at different APY to suit your needs. Account setup on line was pretty smooth, linking external accounts to fund the Synchrony acct took a couple of days to verify. Customer service is awesome as the longest I've been on hold is 4 minutes or less, and they are real helpful.

Also opened a Sally Mae acct at 4.5% APY for a shorter 18 month term. FDIC insured. This too was pretty easy to set up and fund.

I was considering CIT, but after reading OP's, I'm gonna pass....
 
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My Amex savings just increased to 3.9% today
Need to move to CIT it seems.
 
Moved to CIT. About the highest interest rate you're going to find. It took a long ass time for my funds to be available. But, it is long term savings so that didn't matter much to me.
 
Morgan Stanley also has been offering 4.6 in an FDIC insured savings account since last month.

Next to no wait time, I move funds in and out easily and often.
 
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the conservative atheist said:
Moved to CIT. About the highest interest rate you're going to find. It took a long ass time for my funds to be available. But, it is long term savings so that didn't matter much to me.
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That's only for the initial deposit. If you transfer money in from another bank, link the accounts first, then send it from the bank to CIT, not requesting the money through CIT. Then it only takes a couple business days for the transfer to complete.
 
Our credit union is offering a premium bundled savings account at 4.05%. signed up for it, 48 hrs later account is visible. Made a deposit of $2000. That was 2 weeks ago, balance is now $2000.08:lmao:
 
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