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Will you have to pay to keep you're money in a savings account?


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Just now, ArcticCrusher said:

Not sure what impact bond yields have to do with savings/checking accounts.:dunno:

Here most brick and mortar banks are pushing monthly or per transaction fees unless you have a balance of  xx or more.  Many virtual banks have opened with zero fees so there many options, fuck any bank or institution that changes anything to hold cash.

When will cashable GIC's have a negative return?:lol:

I see where Chase Bank just closed shop in Canada. They zeroed out all credit card balances held by Canadians. 

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27 minutes ago, teamgreen02 said:

I have $31k in my savings at 2.37% yield.  

Where else should I keep it that has a higher yield and is immediately accessible?

That's about the same rates the virtual banks are offering here.

Then again, I don't keep savings I think I will need short access to in a bank.  Most investments are a few days to get to and a line of credit will handle any emergency that can't wait less than 5 days.

   

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1 hour ago, ManOnManOral said:

Who keeps money in a savings account?

I did before I heard about the sweet returns on GICs/CDs!!!  :lol:

1 hour ago, f7ben said:

How about checking then you fucking retard

I keep a couple of business checking accounts well stocked just in case I run into something I want in a hurry....no fees as long as I let those cocksuckers hold a bunch of my money on a monthly basis.  Fuck banks.

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1 hour ago, ManOnManOral said:

for liquidity I use redeemable GICs. Earn interest and cashable any time. Are you a moron on every topic or just the ones you enter into here?

That’s an option. So is opening up a savings account where the bank pays $350 for keeping $10k for 6 months. 

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10 minutes ago, spin_dry said:

That’s an option. So is opening up a savings account where the bank pays $350 for keeping $10k for 6 months. 

Who’s paying 7% interest and whats the catch?

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13 minutes ago, DriftBusta said:

Who’s paying 7% interest and whats the catch?

No real catch. Open a savings and checking account at Chase with $10k for 6 months and they give you $350. Then you withdraw your money and go elsewhere. I’m finding all kinds of crazy ways to make cash in retirement. 

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14 minutes ago, spin_dry said:

No real catch. Open a savings and checking account at Chase with $10k for 6 months and they give you $350. Then you withdraw your money and go elsewhere. I’m finding all kinds of crazy ways to make cash in retirement. 

So just one time?  Just curious.  Legit yields on cds are really hard to come by and we shop banks all over the country.

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1 minute ago, DriftBusta said:

So just one time?  Just curious.  Legit yields on cds are really hard to come by and we shop banks all over the country.

It’s to suck people in. Most see the window dressing and they sign up and stay. Interest rate is only .01 on savings. Chase does have a very nice online interface. It’s easy to open and transfer to IRA’s, Roth’s, and I believe stock buys. They also have a very nice bill pay feature. Best online system that I’ve seen. 

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