P2P Forum

General Category => Off Topic => Topic started by: Peter on December 11, 2016, 12:00:00 AM

Title: Cash Parking
Post by: Peter on December 11, 2016, 12:00:00 AM
Did not see many good high yield savings / CD / etc offers over the holiday, this year.  Did anyone find anything that I missed?  Looking for somewhere to stash cash (FDIC/NCUA - maybe, maybe a MMA), with upper limit of at least 50-250k (no "rewards checking account" type stuff, where I've got to get a debit card and remember to use it ~10-15 times per month, unless it's got a really high balance limit - none of this "3% on up to $20k" stuff - and, hopefully, w/an APY somewhere north of ~2.00%, just to keep up.

Best offer I saw was Andrews FCU doing a 3-month CD at 3.00% APY... but that's a lot of time on the phone/setup (w/a hard cred pull), for such a short duration.

Anyone got anything good to share?
Title: Cash Parking
Post by: SLCPaladin on December 11, 2016, 12:00:00 AM
I didn't see any. I sprung for some Pen Fed CDs and loaded up a few years ago when they were offering 3.1%. I routinely check depositaccounts.com, but haven't seen anything for several years that piqued my curiosity. I imagine if and when the next Fed rate hike kicks in that things might get interesting.

You might appreciate this. Back in the day I had several "reward" checking accounts that had high interest rates but which had enough stipulations attached that the banks and credit unions probably avoided paying the interest rate to its depositors on many, if not most, occasions. But I had a system. To meet the minimum 12-15 debit card transaction, I would actually go to Walmart self check-out once a month (real early) and get a jalapeno (cost = less than $.01) from the produce and place 12 transactions, just to meet my monthly quota. I always politely explained to the cashier monitoring the self check-out machines exactly what I was doing so they didn't get suspicious. It seems like a lot of work, and it was, but the interest rate was not insignificant. And it was nice having pure liquidity. It got old eventually and I found better opportunities, but it worked at the time.
Title: Cash Parking
Post by: fliphusker on December 11, 2016, 12:00:00 AM
I hop on a few checking accounts a year that I have to drop $1500 into for $200.  Not shy about it, I like my free money. 
Title: Cash Parking
Post by: TravelingPennies on December 11, 2016, 12:00:00 AM
from: SLCPaladin on December 11, 2016, 10:46:08 PM
Title: Cash Parking
Post by: Debt Free on December 12, 2016, 12:00:00 AM
While unpacking Christmas ornaments a couple weeks ago, came across a newspaper page (used to wrap the ornaments) from 2007.  Quarter page ad for some, now defunct, local bank advertising 5.5% rate on 12-18 month CD's.

Talked with my wife about it.  I'm sure at the time the thought was 5.5% was "Ho-hum" with no thought that things could get worse, especially to the point of 0.01%.  Oh to have had a crystal ball back then.
Title: Cash Parking
Post by: jheizer on December 12, 2016, 12:00:00 AM
I really miss the ing direct and etrade online savings accounts at 5-6%.  Too bad I was fresh out of college and had no money back then.
Title: Cash Parking
Post by: anabio on December 12, 2016, 12:00:00 AM
Back in 1981 I had a one year CD from Liberty Savings and Loan (not around now). It paid 11%...Of course this was during the "hyperinflation" days --well, not exactly on the Venezuelan scale-- and my house mortgage was at 12% (VA and if I remember correctly it was around 2% lower than the going rate at the time).

Really pissed me off...here all the unions were getting 10%+ yearly pay raises and the President decided that someone had to bit the bullet and military raises were almost non-existent.
Title: Cash Parking
Post by: TravelingPennies on December 12, 2016, 12:00:00 AM
Yes.  I'm a navy brat.  I remember my parents having about a 16-18% mortgage when we were kids.  I also remember my father talk about how some of his "superiors" questioning the fact that he owned a home on his salary rather than base housing.  All comes down to money management, he'd laugh.
Title: Cash Parking
Post by: yojoakak on December 12, 2016, 12:00:00 AM
from: Debt Free on December 12, 2016, 01:11:18 AM
Title: Cash Parking
Post by: TravelingPennies on December 12, 2016, 12:00:00 AM
from: yojoakak on December 12, 2016, 02:34:20 PM
Title: Cash Parking
Post by: wiseclerk_com on December 15, 2016, 12:00:00 AM
from: anabio on December 12, 2016, 04:54:36 PM
Title: Cash Parking
Post by: TravelingPennies on January 27, 2017, 12:00:00 AM
3.00% APY 84-month CD from the CU where Air Force One lives... very curious:

https://www.depositaccounts.com/banks/andrews-federal-credit-union/offers/

The early withdrawal penalty is 180 days worth of interest, if you cash it out...
Title: Cash Parking
Post by: Rob L on January 27, 2017, 12:00:00 AM
from: nonattender on January 27, 2017, 09:38:50 AM
Title: Cash Parking
Post by: TravelingPennies on January 27, 2017, 12:00:00 AM
Here's the 1.50% APY fully liquid checking acct the depositaccounts.com guy found earlier this week:

https://www.depositaccounts.com/banks/memorybank/offers/

Only catch that I saw was 5 debit uses per month, but no cap.
Title: Cash Parking
Post by: TravelingPennies on January 27, 2017, 12:00:00 AM
from: nonattender on January 27, 2017, 12:11:44 PM
Title: Cash Parking
Post by: Rob L on January 27, 2017, 12:00:00 AM
Quote"> from: nonattender on January 27, 2017, 12:11:44 PM
Title: Cash Parking
Post by: Peter on January 27, 2017, 12:00:00 AM
Now, I'm not 100% on how this "payable on death" thing works, but, unless I call them after I die to tell 'em, I suspect they won't know. ;)
Title: Cash Parking
Post by: TravelingPennies on January 27, 2017, 12:00:00 AM
from: nonattender on January 27, 2017, 04:07:51 PM
Title: Cash Parking
Post by: TravelingPennies on January 28, 2017, 12:00:00 AM
from: Rob L on January 27, 2017, 06:42:56 PM
Title: Cash Parking
Post by: rawraw on January 29, 2017, 12:00:00 AM
IIRC, I think payable on death also increases your FDIC insurance
Title: Cash Parking
Post by: TravelingPennies on January 29, 2017, 12:00:00 AM
Had to ask myself some questions about the Andrews FCU CD.

Assuming early withdrawal (it's 7 years after all), at what new interest rate would I break even at the non-early withdrawal end date?



And what would be my compounded APR at early withdrawal (this one was quite interesting)?



And finally what would my penalty be as a percent of interest earned at early withdrawal?



Now I'm gonna go watch a movie or something ...  ::)
Title: Cash Parking
Post by: TravelingPennies on January 30, 2017, 12:00:00 AM
Yup - that's one reasion I keep coming back here... the quant-ephemera are high quality. :)

BTW, logged into Amex to pull down yearly summaries and got followed around their site by a little popup for something they're calling "NextStep" which desperately wanted to lend me up to a very large amount at a rate of 8.98% or lower.  I think I mentioned in a FICO thread somewhere that I was going to let myself look like a "normal consumer" (non-christmas-curmudgeon) in January - they've got a fresh (soft) credit pull on me showing piles of charges from December, now, and they're just dying to pay off my other cards for me, via personal loan, and are even willing to directly disburse some or all of the loan proceeds straight to any of my non-amex credit accounts.

Guess they got tired of being on the receiving end of that transaction and whipped something up for retention/competition purposes. ;)

My junkmail's getting interesting, too...  Discover is back (with shiny and never before seen metallic-hydrogen envelope colors, from the in-house stationery-store/materials-science-lab/marketing-research-firm that they run).  Nothing from any of the non-bank outfits - yet.
Title: Cash Parking
Post by: TravelingPennies on January 30, 2017, 12:00:00 AM
from: Rob L on January 29, 2017, 06:22:49 PM
Title: Cash Parking
Post by: TravelingPennies on January 30, 2017, 12:00:00 AM
from: rawraw on January 30, 2017, 04:30:32 PM
Title: Cash Parking
Post by: jheizer on January 30, 2017, 12:00:00 AM
Geez. Why is their rate so high?  It seems like they could offer a rate way lower and still be attracting people like crazy.  If we were a few years in the future I'd probably be all over this but at my age I'm still limiting fixed income investments.
Title: Cash Parking
Post by: TravelingPennies on January 30, 2017, 12:00:00 AM
from: jheizer on January 30, 2017, 07:28:07 PM
Title: Cash Parking
Post by: TravelingPennies on January 31, 2017, 12:00:00 AM
from: Rob L on January 30, 2017, 09:38:30 PM
Title: Cash Parking
Post by: TravelingPennies on January 31, 2017, 12:00:00 AM
from: jheizer on January 30, 2017, 07:28:07 PM
Title: Cash Parking
Post by: TravelingPennies on January 31, 2017, 12:00:00 AM
from: Rob L on January 31, 2017, 06:50:23 PM
Title: Cash Parking
Post by: TravelingPennies on February 01, 2017, 12:00:00 AM
from: nonattender on January 31, 2017, 07:18:22 PM
Title: Cash Parking
Post by: Peter on February 01, 2017, 12:00:00 AM
I think one of the LendAcademy writers may have developed problems from which Diageo holders may already be making a profit (or will soon) based upon today's pump post.

I didn't buy any of that, but I did take a flyer and buy 100 shares of an IPO for INVH, which is some sort of REIT that does single-family - the premise being that they bought up a shitload of cheap houses during the crash, and now want to rent them to millennials who invested in RENN and, so, won't be able to buy a house for the next 20 years or so.  Or at least that's what I read.  I don't know, maybe not - I was all hopped up on caffeine and half-a-shot. ;)  Probably it's something to do with mortgages actually requiring downpayments and rising interest rates and housing prices going up - but it's funnier with Bailey's adding the color.  If it were a tech company, it'd be "uber, but, you know, like, for houses".  (REG FD:  I now own INVH - whatever the hell that is - and I still own DEO - and I am careful to make sure DEO's stills don't own me - and so is RobL, I hope, though I now fear he may really be an Excel-functional-alcoholic.)

"I'm fine, honey - I swear - see, look, my pivot tables align - I can stop anytime...  I just need... one more chart!"
Title: Cash Parking
Post by: TravelingPennies on February 02, 2017, 12:00:00 AM
Today's talking-my-own-book update:

I just reverse-mortgaged my house to Magnum P.I. (whose sly Fox News commercials have allayed my fears about naughty banks trying to steal my home, when, actually, they just want me to be able to enjoy myself, now, with no consequence or thoughts of the future).  I then took that money and signed up to put it all into Snapchat's IPO, which, as far as I can tell, is a program that will display whatever one puts into it, for a very short time, and then - *poof* - it's gone.  I heard the first SEC filing had an 'irony disclosure' but that it later disappeared.
Title: Cash Parking
Post by: Rob L on February 02, 2017, 12:00:00 AM
from: nonattender on February 02, 2017, 05:47:13 PM
Title: Cash Parking
Post by: TravelingPennies on February 03, 2017, 12:00:00 AM
from: Rob L on February 02, 2017, 07:56:32 PM
Title: Cash Parking
Post by: TravelingPennies on March 05, 2017, 12:00:00 AM
from: nonattender on February 02, 2017, 05:47:13 PM
Title: Cash Parking
Post by: TravelingPennies on March 14, 2017, 11:00:00 PM
I noticed today that the APR for Andrews FCU 84-month shares certificates has been lowered from 3.0% to 2.2%.
Meanwhile they have dragged their feet so long I have STILL not yet been issued the certificates for which I applied (they have had my money for almost a month).
Got a very bad feeling about this. They've taken insanely long to get anything done and customer support is almost non-existent.
Title: Cash Parking
Post by: Debt Free on March 14, 2017, 11:00:00 PM
Go Navy!!!
NFCU
Special EasyStartSM Certificate (Share/IRA/ESA)   $50 min $3,000 max   12 months   3.00%
Title: Cash Parking
Post by: TravelingPennies on March 14, 2017, 11:00:00 PM
from: Debt Free on March 15, 2017, 02:38:14 PM
Title: Cash Parking
Post by: TravelingPennies on March 14, 2017, 11:00:00 PM
My apprehension was misplaced. Things worked out well, but it wasn't a smooth process.
Late this afternoon I received a message from the Andrews website. The message said:

"Per your application comment, you are attempting to establish IRA Certificates and not the fixed rate certificates you have elected on your application. Due to us being unable to finalize your request, this application will be canceled."

Uh Oh.. There was a phone number to call. I did at 5:30 pm (they close at 7 pm) and I (surprisingly) actually reached a person. Ultimately she was able to resolve everything; issuing desired IRA certificates for my wife and me (yes at 3%) and even made them effective in mid February when they had received our money. Thought this was pretty amazing actually. Life is full of surprises.

Title: Cash Parking
Post by: jheizer on March 29, 2017, 11:00:00 PM
Anyone have an account here https://www.purepoint.com/online-banking/savings-account/high-yield  ?

Edit:  Looks like they are extremely new for this company/brand.  Now sure what I think about that.  But those rates :)  https://www.bloomberg.com/news/articles/2017-02-24/a-japanese-fix-for-american-savings-1-25-percent-interest?cmpid=flipboard
Title: Cash Parking
Post by: TravelingPennies on March 30, 2017, 11:00:00 PM
from: jheizer on March 30, 2017, 09:36:53 PM
Title: Cash Parking
Post by: TravelingPennies on March 30, 2017, 11:00:00 PM
Yeah doing some more reading last night it seems like it checks out for everyone.  The big question is just will the rates remain this high or are they just trying to draw money in and then drop them back to a closer to current market rate.  I'm probably going to open one but have to do some moving around first.  (And I don't know the info to our savings account.  Wife is the day to day money person.)
Title: Cash Parking
Post by: TravelingPennies on March 30, 2017, 11:00:00 PM
Way I'm reading their terms, the first $9,999.99 is only earning 0.25% and then on the remaining $0.01 you'll make the 1.25%.

So if you have $100,000.00 there, effectively you will earn 1.15%.
$500,000, you'll earn 1.23%
Title: Cash Parking
Post by: TravelingPennies on March 30, 2017, 11:00:00 PM
I just don't think they worded it very good.  Here is seems clearer that it is 10k+ daily balance  = 1.25% rate.  https://www.purepoint.com/htdocs/acct/sav/rates/interest_rate.jsp?region=1408
Title: Cash Parking
Post by: TravelingPennies on March 30, 2017, 11:00:00 PM
And, keeping things in perspective, my net total returns from Lending Club Q1 were -0.1886%.
Yeah, I actually lost $166.33 in the first three months this year.
Could be worse; I could have not elected to reduce my portfolio by half last year.
My remaining account is 14% cash and I am not currently re-investing. Don't think I'm alone.
Title: Cash Parking
Post by: jheizer on March 30, 2017, 11:00:00 PM
Yup... Waiting on my official statement numbers for this month to decide myself.  Not doing 3 loss months in a row.
Title: Cash Parking
Post by: Peter on March 31, 2017, 11:00:00 PM
Quote"> from: jheizer on March 31, 2017, 02:43:54 PM
Title: Cash Parking
Post by: TravelingPennies on March 31, 2017, 11:00:00 PM
Quote"> from: Rob L on March 15, 2017, 02:12:28 PM
Title: Cash Parking
Post by: Rob L on March 31, 2017, 11:00:00 PM
from: nonattender on April 01, 2017, 01:10:26 AM
Title: Cash Parking
Post by: Fred93 on March 31, 2017, 11:00:00 PM
from: Rob L on April 01, 2017, 09:07:48 AM
Title: Cash Parking
Post by: TravelingPennies on March 31, 2017, 11:00:00 PM
from: Fred93 on April 01, 2017, 01:32:42 PM
Title: Cash Parking
Post by: TravelingPennies on March 31, 2017, 11:00:00 PM
from: Rob L on April 01, 2017, 09:07:48 AM
Title: Cash Parking
Post by: TravelingPennies on April 01, 2017, 11:00:00 PM
from: nonattender on April 01, 2017, 08:52:14 PM
Title: Cash Parking
Post by: TravelingPennies on April 01, 2017, 11:00:00 PM
Quote"> from: Rob L on March 15, 2017, 06:39:23 PM
Title: Cash Parking
Post by: TravelingPennies on April 08, 2017, 11:00:00 PM
Quote"> from: nonattender on March 05, 2017, 07:38:56 PM
Title: Cash Parking
Post by: TravelingPennies on December 20, 2017, 12:00:00 AM
Not as good as some of the past deals on here, but Ally has a 12 month 2% CD deal right now.
Title: Cash Parking
Post by: TravelingPennies on December 20, 2017, 12:00:00 AM
from: jheizer on December 20, 2017, 11:12:43 AM
Title: Cash Parking
Post by: TravelingPennies on January 20, 2018, 12:00:00 AM
The U S Postal Service Federal Credit Union is offering a 24 month IRA at 3% APY.

See: https://www.depositaccounts.com/ira/2-year-ira-rates.html

You have to sign up for membership in the American Philatelic Society to join the FCU.
Two reviews of the FCU both very bad. Probably a nightmare of paperwork to actually get invested with them.
I looked hard but could not find the early withdrawal penalty amount; only that there is one. The term is only 2 years so not sure it matters much.
However, parking money at 3% for a couple of years might be worth the hassle. I may give it a try.
Title: Cash Parking
Post by: tom242 on January 28, 2018, 12:00:00 AM
I've had good luck with my short term cash using PeerStreet for the last 12 months. They offer real estate backed loans with terms of 8 - 24+ months.  Most are around 12 months.  I've made several $1000 investments with 10 - 12 month terms and interest rates >= to 7%.  Once a month they also offer 1 month 3% loans - I just tried their January offer.  All notes can be paid off early, but re-investing is fast and easy. 

Tom

Use this link to register and we'll each receive a 1% Bump our our next investment when you fund your account .  http://www.peerstreet.com/join?ref=2lc3ytz

   
Title: Cash Parking
Post by: TravelingPennies on January 28, 2018, 12:00:00 AM
For cash parking I'm looking to invest what are to me rather large sums of money with exceedingly small risk (like CD's). PeerStreet as well as LC, Prosper, etc. are different animals but possibly very good (or bad) ones moving out on the risk curve.

FWIW I emailed U S Postal Service Federal Credit Union regarding the process opening an IRA account and funding it from another custodian. They did not reply. I did find out their EWP is 180 days of interest. Don't think I'll be investing with them.

Connexus Credit Union is offering a 3% 5 year CD, EWP is 365 days of interest; ouch!
https://www.depositaccounts.com/banks/connexus-credit-union/offers/
https://www.connexuscu.org/accounts/iras/

Read where a lot of banks and credit unions are expected to have special IRA offers as tax time approaches. Think I'll bide my time a bit. Interest rates still appear to be headed up. Sure would like that two year 3% deal though. Maybe I'll get lucky.
Title: Cash Parking
Post by: anabio on January 29, 2018, 12:00:00 AM
Got one year to go....but I really can start using it now as a kind of 1 year CD...just haven't got the urge yet.

11 years ago I "hid" 200,000 cash in a fixed annuity....not for investment purposes but to get it off my assets so I even had a chance of getting financial aid for my children, one of whom was going to college a few years later.

Side note: Lot of good that did me...among other colleges, she got accepted into a couple of UC systems...even with their high costs we were only able to get about $3,000 in LOANS...no free money...I made too much money...didn't think that one through the whole way....

Anyway. That fixed annuity pays 3% and in one year there will no longer be any withdrawal penalty, so I can start using it as a bank savings account...

Not sure what they will do if they see multiple deposits coming in and withdrawals going out... anyone have any experience in this situation...will they stop me from making deposits/withdrawals???
Title: Cash Parking
Post by: Peter on February 27, 2018, 12:00:00 AM
13-month CD @ 2.75% APY (only avail for two days, 2/27 and 2/28, max $250k, must have residential address in MA, NH, ME, CT, VT, or RI):

https://www.harborone.com/remarkable

(I'm terribly tempted to get on the phone with them tomorrow, put on my best Bahsten accent - I speak Brahmin and Southie - and try to find a sweet teller who will let me pretend I live out of my old office... but I probably can't get thea from heah.  Maybe some of you can - it looks like a sweet deal!)

Title: Cash Parking
Post by: Rob L on March 11, 2018, 12:00:00 AM
Quote"> from: Rob L on April 02, 2017, 01:22:08 PM
Title: Cash Parking
Post by: TravelingPennies on March 11, 2018, 11:00:00 PM
There's a 4% 60 monther lurking in the Southeast...  I, too, expect much better fishing for savers in the near future - nationwide.
Title: Cash Parking
Post by: TravelingPennies on April 10, 2018, 11:00:00 PM
Goldman (Marcus) upped their online savings account APR to 1.6%.
https://www.marcus.com/us/en/savings/high-yield-savings?prd=os&chl=ag&schl=agd&cid=2955844

Ally at 1.45% is starting to fall behind a bit.
Popular Direct tops the list at 2%.
Title: Cash Parking
Post by: jheizer on April 10, 2018, 11:00:00 PM
Been nice seeing them all go up lately. Was surprised to see my purepoint at 1.75 a few days ago.
Title: Cash Parking
Post by: Fred93 on April 10, 2018, 11:00:00 PM
There's a thing going on right now where short term muni bonds, and their associated muni bond funds, are yielding more relative to taxable alternatives than is usual.

Vanguard's California tax-free money market fund VCTXX, for example, has a 1.32% SEC yield right now.  That's equiv 2.87% taxable for me!

Some brokers have stopped allowing people to buy this fund.  Fidelity for example.  They're trying to stop the flow out of their own higher fee funds.  Vanguard refuses to give kickbacks to brokers.  TDAmeritrade is still allowing purchase, and of course you can buy it thru Vanguard.  TDAmeritrade won't allow VCTXX to be the money market fund that your money rolls into and out of automatically.  You have to place explicit buy and sell orders.

You can also buy very short term muni bonds right now.  Most brokers mark the bonds up so much that it really kills the yield on very short term bonds.  Retail customers just get really bad pricing.  However, at Fidelity right now I am able to buy some short term AA and above California muni bonds at yields of 1.3% to 1.5%  I've been buying some with only 3mo to 6 mo to maturity.  These are the things you would find in a muni money market fund!

Individual brokers' characteristics differ in funny ways.  At TDAmeritrade I just buy VCTXX, because they won't sell me muni bonds at a decent markup.  At Fidelity I just buy the short term muni bonds myself, because they won't sell me VCTXX. 

I've been selling T bills and whatnot and buying short term munis lately.
Title: Cash Parking
Post by: TravelingPennies on April 10, 2018, 11:00:00 PM
I'd feel uncomfortable owning Californian municipal debt, but that's probably just the result of some sort of subconscious bias that I have against bankrupt, totally-out-of-control spenders whose governments and/or politicians seem, if the fake news can be believed, to be about to secede... :)

I'll say two Hail Moonbeams and see if I stop seeing a strange resemblance between modern day California politics / 1860's era Southern States.

(I'll be fine.  You probably will be, too;  I don't know.  That stuff's not for me, though.)
Title: Cash Parking
Post by: TravelingPennies on April 10, 2018, 11:00:00 PM
from: nonattender on April 11, 2018, 01:23:36 PM
Title: Cash Parking
Post by: TravelingPennies on April 10, 2018, 11:00:00 PM
Buying bonds like that is a game I've never tried to play.  One of these days I need to read up on it all more.  Any time I am tempted my mind just tries to figure out what I am do wrong/if this is good, why is it being sold.
Title: Cash Parking
Post by: TravelingPennies on April 10, 2018, 11:00:00 PM
from: Fred93 on April 11, 2018, 01:50:36 PM
Title: Cash Parking
Post by: TravelingPennies on April 10, 2018, 11:00:00 PM
from: jheizer on April 11, 2018, 01:55:14 PM
Title: Cash Parking
Post by: TravelingPennies on April 10, 2018, 11:00:00 PM
from: Fred93 on April 11, 2018, 02:48:53 PM
Title: Cash Parking
Post by: TravelingPennies on April 10, 2018, 11:00:00 PM
Thanks for the good long answer.  Oh and living in Illinois is AWESOME! not...

I guess the flip of my "why is this for sale", is the why hasn't someone else bought this already if it is a good deal.  Similar to say folio buying before we learned there can be very few good notes up for sale at times and those of us that had a really fast system had a major edge.  Others might not have every seen them at all and with the lack of history have no idea.  Too bad I only ran that for a few months before I decided to down size.

But back to bonds, so I do a search for say 4-8 month maturity of AA and above and sort by yield.  Refresh a few minutes later and the results are the same or very very close.  So I immediately go if these are all still available, why should I be the one buying them knowing nothing.  Or you do look at one more closely and see it has had 3 trades in the last month.  I get them most are small so they'll have low volume, but I also assume that maybe that means that have been up for sale by someone for all the time and just slowly getting bought as someone decides they are now a good deal. 

I guess put simply, its the case of not knowing what I don't know.
Title: Cash Parking
Post by: TravelingPennies on April 10, 2018, 11:00:00 PM
from: jheizer on April 11, 2018, 03:38:05 PM
Title: Cash Parking
Post by: jheizer on April 10, 2018, 11:00:00 PM
Quote"> from: Fred93 on April 11, 2018, 04:19:46 PM
Title: Cash Parking
Post by: Rob L on April 10, 2018, 11:00:00 PM
Quote"> from: nonattender on April 11, 2018, 02:19:50 PM
Title: Cash Parking
Post by: TravelingPennies on April 10, 2018, 11:00:00 PM
IL ranks best state to raise your taxes then drop the money in the toilet.  Oh and my property taxes are just totally awesome too.
Title: Cash Parking
Post by: lascott on April 11, 2018, 11:00:00 PM
from: jheizer on April 11, 2018, 05:15:32 PM
Title: Cash Parking
Post by: TravelingPennies on April 11, 2018, 11:00:00 PM
Wow.  Bet they catch that make it 3x the average rate soon.  Lol

I'm only 34 so sure that'll change by the time need it.
Title: Cash Parking
Post by: TravelingPennies on November 07, 2018, 12:00:00 AM
The 3% for 5 years (3 for 5) CD club has been usurped.
The 4% for 5 year CD club now has its first member, available to all, from Connexus.
EWP is 365 days of interest. Pretty much in line. I've seen some CD's with "payday loan" commensurate EWP's but this isn't one.
https://www.connexuscu.org/accounts/share-certificates/
https://www.depositaccounts.com/banks/connexus-credit-union.html#rates
"The times they are a'changin".

Title: Cash Parking
Post by: TravelingPennies on November 07, 2018, 12:00:00 AM
Nice to see 2 year maturities over 3%
Title: Cash Parking
Post by: TravelingPennies on November 24, 2018, 12:00:00 AM
FWIW Andrews FCU is offering an 84 month CD at 3.45% (EWP only 180 days of interest).
It's a special offer that ends 12/31.
https://www.andrewsfcu.org/personal/checking-and-savings/share-certificates.html
I parked some cash in these two years ago at 3.0% (see earlier posts this thread). My how time flies.

For the short term they are offering 2.86% for an 8 month CD (90 day EWP) until 12/31.
Title: Cash Parking
Post by: TravelingPennies on December 07, 2018, 12:00:00 AM
With the recent sharp drop in interest rates the 4% for 5 year club now has no members.
Connexus reduced its rate from 4% to 3.5%. Not surprising.
Title: Cash Parking
Post by: TravelingPennies on December 13, 2018, 12:00:00 AM
Meanwhile
"In A Bold Asset Grab, Robinhood Offers 3% Interest On Checking And Savings Accounts"
https://www.forbes.com/sites/jeffkauflin/2018/12/13/in-a-bold-asset-grab-robinhood-offers-3-interest-on-checking-and-savings-accounts/#58e12944341a
Title: Cash Parking
Post by: TravelingPennies on December 13, 2018, 12:00:00 AM
from: jheizer on December 13, 2018, 11:25:33 AM
Title: Cash Parking
Post by: TravelingPennies on December 13, 2018, 12:00:00 AM
My assumpting is SIPC, but will see once more is known.   I hopped on the list.  Assuming it's to it her more people on their brokerage accounts.  Free there = selling your order flow.  But kids these days like being the product to get something for free.
Title: Cash Parking
Post by: bobeubanks on December 13, 2018, 12:00:00 AM
https://www.usatoday.com/story/money/2018/12/13/robinhood-savings-and-checking-account-they-fdic-insured/2303674002/


Title: Cash Parking
Post by: Peter on December 14, 2018, 12:00:00 AM
from: jheizer on December 13, 2018, 09:45:29 PM
Title: Cash Parking
Post by: AnilG on December 14, 2018, 12:00:00 AM
https://www.usatoday.com/story/money/2018/12/14/robinhood-checking-and-savings-features-not-insured-says-sipc/2310208002/

Cash deposited in Robinhood's 3% checking and savings isn't insured, SIPC says

Title: Cash Parking
Post by: jheizer on December 14, 2018, 12:00:00 AM
Ha. Interesting.
Title: Cash Parking
Post by: Rob L on December 16, 2018, 12:00:00 AM
"Robinhood is going back to the drawing board.

Just a day after unveiling what it called checking and savings accounts, the financial technology startup said it is re-launching and re-naming the product, which came under immediate scrutiny from Wall Street and federal officials about potentially misleading investors."

https://www.cnbc.com/2018/12/15/robinhood-to-re-brand-savings-account-plan-after-widespread-criticism.html
Title: Cash Parking
Post by: TravelingPennies on December 16, 2018, 12:00:00 AM
Oops...  Everything in the app has bee renamed to cash management.
Title: Cash Parking
Post by: bobeubanks on December 17, 2018, 12:00:00 AM
Oh my. Getting stuff like this right should be job #1. 
Title: Cash Parking
Post by: Peter on February 28, 2019, 12:00:00 AM
Well, in light of DLI exploding, here's a safety play:

https://www.scb.bank/personal/savings-solutions/

3% APY FDIC-insured savings (6 month intro rate).

$100k min. deposit, but FDIC-insured to $250k. :)
Title: Cash Parking
Post by: Fred93 on February 28, 2019, 12:00:00 AM
You can get 2.5% on relatively short term treasury bonds/notes right now. 

You don't pay state tax on treasuries, so in a high tax state (like mine!) that's just about as good as that CD.
Title: Cash Parking
Post by: TravelingPennies on March 01, 2019, 12:00:00 AM
Well, then, for those who want 3% and still live in a free state. :)

(The SCB 3% acct, above, is a liquid fdic savings acct, not a CD.)

Speaking of free states:

AndrewsFCU.org (home of Air Force One!) has a 6mo 3.25% CD.
(It's a new money only thing, and is only open like 2 more days.)

Title: Cash Parking
Post by: TravelingPennies on March 26, 2019, 11:00:00 PM
A 4 year 4% APR CD (IRA only) is now being offered from City Credit Union in Dallas.
https://www.depositaccounts.com/banks/city-cu-tx/offers/

Good news is that anyone can join the CU if they're a member of the Dallas Historical Society.
Bad news is that an IRA CD has to be opened at one of their branches and the EWP terms are draconian:

https://assets.trabiancdn.com/api/file/kTkX90QTyEKNlx3y2Z3A+IRA_ROTH_CD_Disclosures-3-2019.pdf

Think I might just open an account on line and see if it goes smoothly.
If it does I might take a quick trip to big D since I just had some CD's mature a couple of weeks ago and the money needs a home.
Title: Cash Parking
Post by: TravelingPennies on April 18, 2019, 11:00:00 PM
City Credit Union promo 48 moth 4% CD: Ended 4/15/2019
The story of "meant to be".

I happened on this near the time it was offered around March 26. I learned that the IRA CD must be opened at a branch in person with an FBO check in hand. First I easily on-line opened a savings account after joining the DHS. The funds I chose to use for the IRA CD were at Fidelity in a Treasury ETF, so I sold and waited for settlement. When the cash was available in the account I completed the Fidelity form requesting the FBO check be mailed to me. Fidelity required a medallion signature on the form which I acquired at my bank (with much more bureaucratic difficulty than I thought reasonable). I mailed the form to Fidelity next day mail. Fidelity was quite responsive and mailed me the check within a very few days.

Now for the interesting part. I live in Virginia and booked a flight leaving at 6:00 am for Dallas and returning at 6:45 pm same day on 4/26. I had to get up at 2:30 am to make the flight. Before I left I checked the City CU website and the promo CD had been taken down. As I left I told my wife I'd missed it by a day and expected to open a MMKT account and move the money ASAP or possibly get Fidelity to void the check (just a thought). I arrived at Dallas and took a UBER to the main branch on Ferguson Avenue. I arrived at their door about 10 minutes before they opened, then checked in at the welcome desk and was told to wait until my name was called. In the lobby there was an electronic sign advertising rates and to my great surprise and elation the 48 month 4% promo CD was there! So wow, I'm not too late. What a relief. My name called I was greeted by a very friendly representative and went back to her office. I explained my purpose, presented my ID and check. I told her of my trek from VA, that I was a bit tired, and very glad to know the promo CD was still available and was assured it was. Half way through the paper work the question of "direct transfer" versus "rollover" came up and she said she should check with her boss. I'm thinking I obviously prefer direct transfer but a once a year rollover is just fine here. I'm waiting for a while totally unaware of the discussion they were having. The boss knew the promo had ended yesterday. She did not know since she was off the previous day and was not informed the promo CD was no longer available. Maybe the sign in the lobby was the deciding factor but she argued my case and I did get the promo CD. Almost a miracle.

Three things:

1) I decided to go to the main branch on Ferguson Ave. There was one closer to the airport. Would I have had the good fortune to encounter a representative elsewhere that was unaware that the promo CD was not over? Would there have been a "boss" with the authority to approve the issuance of the CD given the circumstances?

2) The sign in the lobby still offering the promo CD. Would I have seen one elsewhere?

3) Arriving all the way flying in from from VA before the branch opened. Somewhere in the morning this oversight would have been corrected.
Title: Cash Parking
Post by: lascott on April 18, 2019, 11:00:00 PM
from: Rob L on April 19, 2019, 01:07:40 AM
Title: Cash Parking
Post by: TravelingPennies on April 19, 2019, 11:00:00 PM
My closest Fidelity branch is in Richmond, about an hour away. My bank, I'm embarrassed to say, is Wells Fargo. They required my latest Fidelity account statement (two weeks stale) to verify funds availability. That statement, as totally meaningless as it was given the two week time lapse, met their requirements for the Medallion signature and I was fortunately able to provide a copy. When confronted with bureaucratic stupidity one must simply conform or lose. That's just the way it is.
Title: Cash Parking
Post by: TravelingPennies on January 12, 2020, 12:00:00 AM
Does anyone use a Kasasa free reward checking account? TAB bank has one of these that offers 4.0% APY on up to $50k. The catch is that you must make at lest 15 debit card purchases per month or the interest rate drops to 0.25%. Other banks have similar Kasasa accounts with lower APR, lower max deposit and fewer required debit card purchases.

https://www.depositaccounts.com/banks/tab-bank.html
https://www.tabbank.com/kasasa-cash-checking/

I'm so fed up with Wells Fargo I decided to look into checking accounts and discovered these things. I'll probably give the TAB Bank account a try.

Title: Cash Parking
Post by: TravelingPennies on January 21, 2020, 12:00:00 AM
from: Rob L on January 12, 2020, 12:56:04 PM
Title: Cash Parking
Post by: TravelingPennies on January 22, 2020, 12:00:00 AM
from: lascott on January 21, 2020, 09:49:16 PM
Title: Cash Parking
Post by: Debt Free on January 22, 2020, 12:00:00 AM
Was this a limited time offer?  I tried the link which didn't work.  Checked the Tab bank site and there was no mention of the Kasasa checking.
Title: Cash Parking
Post by: Fred93 on January 22, 2020, 12:00:00 AM
Quote"> from: lascott on January 21, 2020, 09:49:16 PM
Title: Cash Parking
Post by: Rob L on January 22, 2020, 12:00:00 AM
Quote"> from: Debt Free on January 22, 2020, 12:02:54 PM
Title: Cash Parking
Post by: Debt Free on January 22, 2020, 12:00:00 AM
Yes, I had seen the offer last week after the original post.  Put it off thinking it was a long term offer as I had seen the same deal mentioned on several other sites.  Then went to dig into it more and POOF! it was gone.
Title: Cash Parking
Post by: mrwhizzard on January 23, 2020, 12:00:00 AM
from: Fred93 on January 22, 2020, 12:55:33 PM
Title: Cash Parking
Post by: TravelingPennies on January 23, 2020, 12:00:00 AM
from: mrwhizzard on January 23, 2020, 11:48:02 AM
Title: Cash Parking
Post by: .Ryan. on January 24, 2020, 12:00:00 AM
from: Fred93 on January 23, 2020, 02:18:39 PM
Title: Cash Parking
Post by: TravelingPennies on January 24, 2020, 12:00:00 AM
from: .Ryan. on January 24, 2020, 10:15:39 AM
Title: Cash Parking
Post by: jheizer on January 24, 2020, 12:00:00 AM
HA this talk made me remember I tried out TreasuryDirect last year.  It was so awful I only bought a single 1YR test one and decided against the entire plan.  Forgot about it.  Surprise money maturing in 6 days :)

I've had my other cash sitting in wealthfront's cash account.  Also down and at 1.78% now, but they/their site has been pretty good so far. 
Title: Cash Parking
Post by: AnilG on January 24, 2020, 12:00:00 AM
I use Treasury Direct (TD) to buy “no secondary market” treasury bonds, primarily I-series and EE-series. For T-bills and other T-bonds, and for bonds with secondary market, I use Fidelity.
Title: Cash Parking
Post by: lascott on January 25, 2020, 12:00:00 AM
Quote"> from: Rob L on January 22, 2020, 11:36:13 AM
Title: Cash Parking
Post by: TravelingPennies on January 25, 2020, 12:00:00 AM
from: lascott on January 25, 2020, 12:01:34 AM
Title: Cash Parking
Post by: TravelingPennies on January 27, 2020, 12:00:00 AM
from: .Ryan. on January 24, 2020, 10:15:39 AM
Title: Cash Parking
Post by: TravelingPennies on January 27, 2020, 12:00:00 AM
from: mrwhizzard on January 27, 2020, 02:58:30 PM
Title: Cash Parking
Post by: TravelingPennies on February 05, 2020, 12:00:00 AM
The 4% Kasasa checking offer with TAB Bank is back on their site.  https://www.tabbank.com/kasasa-cash-checking/
Guessing it was a technical glitch that was finally fixed.

My only concern with the offer is the "ATM-processed transactions" that do not qualify.  I take that to imply that PIN based transactions don't count and that it has to be a signature based transaction, which most retailers no longer do.
Title: Cash Parking
Post by: TravelingPennies on February 05, 2020, 12:00:00 AM
from: Debt Free on February 05, 2020, 12:24:04 AM
Title: Cash Parking
Post by: Debt Free on February 05, 2020, 12:00:00 AM
If you go to the link and then scroll down, you'll see the offer.

Honestly, I may have been mistaken before.  When you click on the link, the page displays what appears to be a message indicating a page error.  However, when you scroll down, the Kasasa offer is displayed.
Title: Cash Parking
Post by: Rob L on March 29, 2020, 11:00:00 PM
To put a book end on it, the opening through the first two months of our TAB bank Kasasa checking account experience has been extremely positive. Opening was simple and afterwards we transferred in $5k from our Ally bank savings to initially fund it. We gave it a few weeks testing and then transferred in another $45k to take full advantage of the max amount qualifying for the 4% rate. It was always our intention to replace our Wells Fargo checking account with this account so we have had no problem generating the 15 debit card transactions and single ACH per month to qualify for the 4% rate. We are way over on both. Anyway, no regrets and soon good bye completely to WF :)

We received an email today saying the max rate was being lowered to 3% from 4%. Obviously this was no surprise. Our Ally bank savings account now only pays 1.5% and our old WF checking account paid zip. WF even charged a $12 monthly fee for Quicken downloads and another $12 fee if the daily average balance in a month was less than $1,500. I'm really going to miss their great customer service though (not)!
Title: Cash Parking
Post by: TravelingPennies on April 27, 2020, 11:00:00 PM
From TAB Bank, the hits just keep on coming. I would say "bait and switch" but these are extraordinary times so I guess I have to cut some slack.
From $166 per month interest (4% APR, $50k) to $62.50 (3% APR, $25k). No plans to close the account; still glad to be rid of Wells Fargo.

"Information regarding a change to your Kasasa cash deposit cap:
 
Dear Valued Customer,

We are reaching out to you today to make you aware of a recent rate decision we had to make on your Kasasa Cash account.  For us to provide our products to as many individuals as we can, we must lower the maximum deposit amount that qualifies for our highest rate on the Kasasa Cash account.  We are lowering this amount from $50,000 to $25,000.  This change is effective 5/29/2020.  Please review your account disclosures to review all other details on your account.

We are aware that this comes on the heels of a recent interest rate reduction, but with the current situation and the demands put on the banking system this is necessary move for us.  We are only doing this after a lot of careful thought and deliberation.  TAB Bank is dedicated to continuing to provide High Yield Checking to our customers and appreciate the trust you have placed in us.  We look forward to continuing to serve you for years to come.

If you have any further questions or concerns please reach out to us anytime at customerexperience@tabbank.com.

Sincerely,

Michael Palmer, Chief Operating Officer"
Title: Cash Parking
Post by: TravelingPennies on June 30, 2020, 11:00:00 PM
Saw this one coming a mile away:

"Dear Valued Customer,
We're writing to let you know that the Annual Percentage Yield (APY) for your Kasasa Cash Checking Account with TAB Bank is changing from 3.00% APY to 2.00% APY for balances from $0.01 to $25,000 effective 7/1/2020.

As our country continues to deal with the economic impacts of the COVID-19 pandemic, there have been major shifts in interest rates for deposit accounts. At TAB Bank, we are committed to providing the best possible rate that we can under the current circumstances."

Not any heads-up; the change is today! I've gone from $50k max deposit to $25k and from APR 4% to 3% to 2% ($166 per month to $42 per month). Don't you just love the FED's printing press? Hey, 2% on a checking account still ain't bad. If I don't make the required debit transactions of 15 in a month the APR is 0.5% so what the heck. Still it's much better than having the Wells Fargo checking account I had (0% APR) and they were charging me $14.95 per month for Quicken downloads.

I remain very pleased with the TAB website features and overall experience.



Title: Cash Parking
Post by: .Ryan. on June 30, 2020, 11:00:00 PM
Cheap money is good and all, but there are drawbacks as well (including what we are seeing with savings rates) that I feel like no one really wants to acknowledge.

I anticipate the ride back up to normal rates + less overspending could be very painful.
Title: Cash Parking
Post by: TravelingPennies on July 01, 2020, 11:00:00 PM
from: .Ryan. on July 01, 2020, 10:37:26 PM
Title: Cash Parking
Post by: lascott on July 06, 2020, 11:00:00 PM
FYI on Ally checking. I was happy I helped my kid moved some money $25K to one of their CDs for 2.5% before some of these drops. Their future house downpayment.

Title: Cash Parking
Post by: TravelingPennies on July 06, 2020, 11:00:00 PM
from: lascott on July 07, 2020, 05:04:13 PM
Title: Cash Parking
Post by: AnilG on July 07, 2020, 11:00:00 PM
from: lascott on July 07, 2020, 05:04:13 PM