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For those who like free money!

FYI I've been using this bank for over 5 years now and it's been the best bank I've ever had, great service, great features, nice people, and really good rates.
 
Originally posted by: Mavtek
FYI I've been using this bank for over 5 years now and it's been the best bank I've ever had, great service, great features, nice people, and really good rates.
Click to expand...

And they have the best zombies in the world.

(Couldn't resist throwing in a little Resident Evil reference).

 
According to Bankrate.com Umbrella is based in Alabama and has only a 2star rating, so in that sense no. But I know for a fact Umbrella is based in Wisconsin so I don't know how valid bankrate is. Personally for me Umbrella is better because it's already my bank, and it's more easily accessible that emigrants, it has both check writing and a Debit card.

You're right though, both seem to be very good deals, to each his own.
 
A MUCH better deal:

SalemFive.com

A) This is a 4* bank (I wouldn't put 10 cents in a 2* bank, e.g. Umbrella Bank).
B) They are currently offering a 4.25% *NO PENALTY* 9 month CD. This means that you can withdraw your money at any time after the first 6 DAYS with no penalty. (So it's basically liquid except for 6 days).
C) Your ENTIRE deposit is insured by a combination of FDIC insurance (first $100K) + DIF (deposits above $100K).

Kwad
 
Well instead of putting $4000 in these type of banks and get 4% per year interest rate. I would rather invest it in stocks and make $40 daily by playing safe 🙂
 
I would not be concerned about what a bank is rated for safety as long as you are poutting your money into an account covered by federal insurance. You won't lose a dime.
 
Originally posted by: kamranziadar
Well instead of putting $4000 in these type of banks and get 4% per year interest rate. I would rather invest it in stocks and make $40 daily by playing safe 🙂
Click to expand...

Well the only problem with that is this:

You must deposit at least $10,000 to open and maintain this account, of which $5,000 must be new money to the bank.

You must maintain a minimum balance of $10,000 in the account each day to obtain the disclosed annual percentage yield.


The minimum is 10 times what Umbrella is asking for, and I don't have that kind of money.
 
Originally posted by: kamranziadar
Well instead of putting $4000 in these type of banks and get 4% per year interest rate. I would rather invest it in stocks and make $40 daily by playing safe 🙂
Click to expand...

The other problem with that is that if you are making $40/day on a $4000 investment, than you are having over 350% annual returns, which is ridiculous. If there were a way to play it "safe" and make $14,600 per year on a $4000 investment, then we've got all our problems solved!
 
emigrant is the way to go for me since i lost faith in ing. I still have both. Been with ing for 3 years now and im loving it.
 
This Umbrella account is a tiered interest rate ... no?
Your first $1K only earns .6%. ouch. 🙁

Even ING is better at 3.4% for small amounts.

HSBC is 3.75% for small amounts ($35 signing bonus was floating around...but their signup process is burdensome ... takes no less than a month....you must get like 5 letters from them and an ATM card before you can actually use the account)

and Emigrant is 4% on your total amount.

oh yea ... and if you have $1000 around to open this Presidential is 4% on CHECKING !
 
Originally posted by: maximo
emigrant is the way to go for me since i lost faith in ing. I still have both. Been with ing for 3 years now and im loving it.
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you have lost faith in ing, but still 'loving it'?
 
Originally posted by: GeneValgene
Originally posted by: maximo
emigrant is the way to go for me since i lost faith in ing. I still have both. Been with ing for 3 years now and im loving it.
Click to expand...

you have lost faith in ing, but still 'loving it'?
Click to expand...

😕
 
Originally posted by: ECartman
This Umbrella account is a tiered interest rate ... no?
Your first $1K only earns .6%. ouch. 🙁

Even ING is better at 3.4% for small amounts.

HSBC is 3.75% for small amounts ($35 signing bonus was floating around...but their signup process is burdensome ... takes no less than a month....you must get like 5 letters from them and an ATM card before you can actually use the account)

and Emigrant is 4% on your total amount.

oh yea ... and if you have $1000 around to open this Presidential is 4% on CHECKING !
Click to expand...


No in order to get the %4 you need to maintain an average daily balance of at least $1k, it's not tiered past the minimum balance. Anyone with $1000 can earn the %4. BTW, not finding that %4 checking account, care to provide a link?
 
Originally posted by: Mavtek
...
No in order to get the %4 you need to maintain an average daily balance of at least $1k, it's not tiered past the minimum balance.
...
Click to expand...

but your first $1K gets .6% ... that hurts especially if you only have a small amount like under $5K
 
Originally posted by: kamranziadar
Well instead of putting $4000 in these type of banks and get 4% per year interest rate. I would rather invest it in stocks and make $40 daily by playing safe 🙂
Click to expand...

1% a day, and not taking any risk? How do you do this? that means your portfolio gets 365% a year!!
 
Originally posted by: ECartman
Presidential Bank linky

Checking needs $1K minimum balance and a monthly electronic deposit (like from ING)

Savings is 4.12% ...but you need a whopping $5K min bal .... both top out at like $25K or $35K.
Click to expand...

no offense to Presidential, and indeed I am interested in their service, but their website doesn't look very professional... and not to judge a book by its covers but for a brief moment i thought the website was a hoax setup by crackers to launder your money.

does anyone else have experience with Presidential?

thanks
chipy
 
am i the official thread killer? how come no one wants to talk anymore after i enter the thread?? :*(

chipy
 
Originally posted by: BBock7271
Originally posted by: kamranziadar
Well instead of putting $4000 in these type of banks and get 4% per year interest rate. I would rather invest it in stocks and make $40 daily by playing safe 🙂
Click to expand...

1% a day, and not taking any risk? How do you do this? that means your portfolio gets 365% a year!!
Click to expand...

more... it gets compounded.
 
presidential is legit, lots of people here use it. I am switching to emmigrant, i want liquid cash for this account, and ING isnt able to compete on rates with emmigrant. So they don't get my money. I'm lookin to put about half of it in a CD, or maybe more after reading the post about 4.25% CD with no penalties for withdrawl - seems almost too good to be true.

-matt
 
Originally posted by: ECartman
Originally posted by: Mavtek
...
No in order to get the %4 you need to maintain an average daily balance of at least $1k, it's not tiered past the minimum balance.
...
Click to expand...

but your first $1K gets .6% ... that hurts especially if you only have a small amount like under $5K
Click to expand...


No, you dont' have that right, once you have over $1000 your entire balance accrues at the %4 rate.
 
remember to use a referral if you open an ING account. It helps you and the the person that refers you.

Does emigrant have a referral program?
 
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