Certificate of Deposit

Archive for March, 2008

Question: Money Market accounts?

Hi everyone. I’m looking for a new high yield savings/MMA. I have an ING account and love it, but I’m looking for another one. Where can I find an account with these features:

*no minimum balance
*no monthly fees
*atm card and/or check writing ability (very important)
*very high interest rate (preferably higher than ING’s 4.5%)

Online banks or brick-and-mortar banks are both fine. Thanks in advance for all your help!
MMA and savings are both fine as long as they’re FDIC insured. I guess I’d kind of prefer a MMA this time, but I’ve had no luck finding a good one so far. Isn’t Washington Mutual supposed to have a good one or something? There’s also HSBC, but that’s just savings…

Answer: My suggestion would be the online branch of Ohio Savings Bank, AMTrustDirect.com. I’ve had it since early March and am very pleased with both customer service and the interest rate which is 5.36%APY (5.23% APR). Here are the basics:
- $1000 to open account. All dollar ranges (teirs) of account balance earn the 5.36%
- interest is compounded daily and posted to account monthly
- 6 transfers out of account and unlimited into account per month, deposits in and transfers out (electronic) take a 5 day time period to become available for use
- once account is open balance can go to as little as 1$ and still earn the 5.36% (check on this)
- no monthly fees
- free online bill pay (I think, check on this)

Now, heres a way to skirt the 6 transfers out… Amtrust offers a non interest bearing free checking account which can link to and transfer with the 5.36% Money Market. This is instantaneous (maybe 1 day (check on this)) so as long as you can get online and move the cash you can use it in the linked checking account via checks or the supplied ATM card. I do not have the checking account so this is all though conversation with reps and website data.

For me it is the best interest bearing liquid account I’ve found. Check their site and give them a ring 24/7. Accounts are FDIC insured.

Personal Finance & Money Management Tips : Money Market Account Tips & Advice

Question: Can I still add money to a Certificate Of Deposit even after I open it?

I’m thinking about opening a CD (Certificate Of Deposit) with ING direct for 12 months.

Can I still add money to a CD even after I open it?

Answer: No you cannot. But in one of your last answers I noticed you did not want to bail out the big three. We need to bail them out. They are the backbone of our country. You are stuck in the 80’s. American autos are much better than they were. Check consumer reports, Ford has a quality standard better than most Japanese car makers. Sorry to interrupt your question. Just needed to get to you.

Bullworthy Explains The Business of Banking – Secure A Higher Interest Rate with Bullworthy.com

Question: When foreigners own US bank account/Certificate Of Deposit, are their interests subject to US tax withholding?

Answer: If a non-resident alien of the U.S. has interest income from a bank account in the U.S. they are exempt from U.S. on that income. This only applies to a personal bank account.
If the bank account is connected to a U.S. business then the income will be taxable in the U.S. For example, if the non-resident owns a rental property in the U.S. and excess rents are put into a bank account that earns interest such interest is taxable on the same return as the rents. If the excess rents are shown as being distributed to the individual and put into a personal savings account then the interest earned would not be taxable.

1178-UCC #26-Winston Shrout audio-1099OID process: HOW TO STOP FORCLOSURE !!!