Certificate of Deposit

Archive for October, 2009

Question: Is HSBCdirect bank safe to invest for Certificate Of Deposit?

HSBC direct bank is an internet bank. I haven’t tried investing here before. I want to know if it it safe to use iternet banking compared with regular office banks.

Answer: Yes HSBC as one of the world’s largest banks is quite safe, and you get the same protection as you would get from a high street bank.
Is internet banking safe?
Yes provided you keep your machine safe.
Good firewall, good antivirus, (Spybot, AVG) good passwords.

Question: can I write a check with entire amount off from my Chase Money Market account?

Hi,
Suppose I have $20K on my Chase MoneyMarket account, but I want to write a check of $20K for paying off my expenses. Can I do that for writing a check with entire amount off from the Money Market account?

Thank you!

Answer: not unless what to close the account which might be a great ideal since every month it is below a certain level you will be charge a fee!!!

Monetary Revolution

Question: Why does interest rate go down as the # of yrs increases and the apy goes down too? (Certificate Of Deposit)?

I’m looking into investment options and i’d like to know why as the number of years of the cd increases, the interest rate and the apy+ go down. You’d think that they want you to keep your money in their bank and they’d pay you more money to keep it in for longer. This is specifically the chart I’m wondering about: http://www.discoverbank.com/index.asp?pID=rates#apy
(at discovery bank)
thanks for your help!

Answer: This is because the yield curve is currently inverted. That is, short term rates are higher than the longer term rates in the market.

Types of Money Savings Options