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Bank of Internet

Category: Uncategorized- fhuff- 3:35 pm/ November 27, 2009

Money market accounts allow you to stash some cash where you can get access to it when you need it. Money market rates at Bank of Internet are currently 1.65% annual percentage yield (APY) for all account balances. Here are some of the details:

  • Minimum opening deposit of $100
  • No maintenance fees
  • Free initial checks
  • Write up to three checks each month
  • ATM card available
  • FDIC insured

You can make unlimited deposits to Bank of Internet money market accounts. You also can make an unlimited number of withdrawals or transfers to other linked Bank of Internet accounts.

There is a limit of no more than six pre-authorized, automatic or phone transfers during any statement cycle. If you go over the limit, you pay an excessive transaction fee for each withdrawal.

Bank of Internet uses the daily balance method to calculate interest on money markets. The bank’s money market rates can change at any time.

If you make a withdrawal from your money market at any ATM, you won’t be charged a fee by Bank of Internet. But you may still have to pay a fee to another bank for using its ATM.

You receive online statements for money markets and the bank keeps an archive of of them that goes back five years.

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There’s still time to take advantage of ING Direct bank deals for Black Friday. The bank deals include a certificate of deposit with a 2.0% annual percentage yield (APY), a $121 bonus for opening an Electric Orange checking account, and $683 off mortgage closing costs. Here are details of the offers:

  • The Orange CD rate is for a 12-month certificate of deposit. You must fund the CD from an external checking account. Interest on CDs accrues daily and is compounded monthly. The penalty for withdrawing funds early is three months interest for a CD that has a term of 12 months or less. Certificates of deposit that have terms longer than 12 months have a penalty of six months interest. Funds are FDIC insured up to  $250,000 per depositor.
  • The checking account offer requires you to use reference code EOSAVE when opening an account online. Once the account is opened, you must make three signature transactions with your debit card within the first 45 days. The $121 bonus is put into your account on day 50. Electric Orange checking accounts pay interest that depends upon your balance.
  • The Easy Orange Mortgage is for people with good credit. You get a low five-year fixed rate that’s based on repaying over 30 years. All payments are made electronically.

All accounts must be opened or applied for by 11:59 p.m. tonight to take advantage of the special deals.

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AIG Bank

Category: Bank Deals, CD Rates- fhuff- 3:11 pm/ November 25, 2009

If you can tie up your money for several years, AIG Bank has CD rates you may want to check out. The bank has a 60-month certificate of deposit with a 3.05% annual percentage yield (APY).

AIG Bank also has a 36-month CD rate of 2.5% APY and a 24-month rate of 2.2% APY. Other CD rates are 1.4% APY for six months, 1.85% APY for 12 months, and 1.95% for 18 months. CD rates are valid as of Nov. 25, and are subject to change at anytime.

Details of the offer include:

  • Open high yield-CD online or by mail
  • Interest credited monthly
  • Quarterly online statements
  • Minimum opening deposit of $2,500

The penalty for withdrawing funds before the maturity date is 90 days of interest for a certificate of deposit with a term of 12 months or less. The early withdrawal penalty for CDs with terms greater than 12 months is 180 days interest.

AIG Bank has various calculators you can use to set savings goals with money you deposit in a certificate of deposit. The calculators are for planning purposes and should not be considered a substitute for advice from a qualified financial professional. AIG Bank is headquartered in Wilmington, Del., but serves customers nationwide.

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BBVA Compass

Category: Bank Deals, Checking Accounts- fhuff- 2:49 pm/

Bank deals that give out cash bonuses can help you save more money. BBVA Compass has a referral program that allows you to earn multiple bonuses when you get friends to sign up for checking accounts.

Unlike many bank deals that offer cash bonuses, this one doesn’t limit the number of people you can refer or the number of bonuses you can earn. The details include:

  • Consumer checking accounts require minimum opening deposit of $25
  • Business checking accounts require minimum opening deposit of $100
  • You and a friend earn a $25 cash bonus when the friend opens a checking account
  • Earn $5 when your friend refers a friend
  • Get customer referral number by calling or visiting a branch
  • Friends must use customer referral number when opening accounts

New checking accounts must be open at least 30 days to qualify for bonus. The referred person also must make two deposits into the account within the first 30 days to qualify for the bonus. The bank pays the bonuses within 90 days of checking accounts being opened and and all qualifying conditions being met.

You cannot refer people who live in your household. BBVA Compass also has the right to restrict the bonus offer to one per household.

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First Heritage Bank

Category: Bank Deals, Local Bank Deals- fhuff- 2:14 pm/ November 21, 2009

You don’t have to go to a large, national bank to find bank deals. If you live in the Snohomish, Wash., area and are looking for bank deals to put cash back into your pocket check out First Heritage Bank.

The small bank is offering a $50 bonus when you open an account. When you refer a friend who opens an account, both of you can receive a $50 bonus.

The bank deals applies to personal and business checking accounts. Other details include:

  • Minimum opening deposit of $100
  • No minimum balance requirement
  • New account must be opened 90 days to receive bonus
  • Automatic deposit or withdrawal must be set up within 90 days to receive bonus
  • Only one bonus per account

You can visit a branch of First Heritage Bank to open an account.  First Heritage Bank checking accounts include online bill pay that gives you access to 18 months of payment history. You also get online access to checking account statements and check images, can transfer money between accounts anytime, and have the ability to download account information to your personal financial management software.

First Heritage Bank is not affiliated with First Heritage Bank Newport Beach, Calif., which was closed by federal regulators in 2008.

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