Comments on: 5.01% APY Checking Account at Bank2

By: bestdealman

bestdealman — Sat, 09 May 2009 17:00:18 +0000

Bradley’s right. They just updated it for residents of Oklahoma only
On the plus side, check out http://www.highyieldcheckingdeals.com
This website has tons of rewards checking accounts for each state, including ones that can be opened from any state, and lots of then have 5% interest. Enjoy!

By: Bradley

Bradley — Fri, 08 May 2009 06:59:17 +0000

I just checked their site. There is now a limit of 2 accounts and you must be a resident of Oklahoma.

Also, I was denied a checking account because I had too many inquiries to Chex systems. BECU told me I would have to wait 3 months. If that was why bank kid was turned down, you can get a free copy of their report. I hope this helps.

By: Patrick

Patrick — Mon, 04 May 2009 13:59:27 +0000

bank kid- Getting a free copy of your credit report does not have an impact on your score. You can obtain a free copy through http://www.annualcreditreport.com... Plus you get copies from all 3 credit bureaus from this website.. It’ll give you a better idea of what lenders see when they pull your credit report.

By: Debbie

Debbie — Mon, 04 May 2009 08:59:06 +0000

Professor, Maybe you could share where you got a 5.85% CD which is unheard of at this time. I’d love to put my money there!

By: professor

professor — Sat, 02 May 2009 07:38:47 +0000

We have two bank in Chicago doing this crap.
It is lame. Here you need 10 debit card transactions per CYCLE, which my not be monthly, you need at least $250 in direct deposit and first born… Otherwise you get something like 0.11% on your account. AND do the math, on 25k this isn’t such a big deal.
Instead I found a 10 year cd at 5.85% APY

By: Johns Wu

Johns Wu — Sat, 25 Apr 2009 00:39:52 +0000

lol, Bankaholic World HQ… i like that

By: BANK KID

BANK KID — Thu, 23 Apr 2009 22:26:10 +0000

Thanks for the input Vernon. The only problem I have with getting the free credit report is that I don’t want a it to lower my credit score even more. And GMAC did say it was my credit score that caused the denial. Which made absolutely no sense to me because I’ve never had bad credit and have several other online accounts that have never had any problems!

By: Bobkatt

Bobkatt — Thu, 23 Apr 2009 20:42:45 +0000

after reading your ad on high yielding checking accts.(spicificly the one on America Net bank—coowner of Redneck Bank) I am in the process of opening a “Rewards Checking Acct.”at ANB with a 5.25 intrest rate,Well needless to say, They just sent me an e-mail that they are lowering that nice FAT rate to 4%,and my deposit is already in route to them *LOL* OH ME!!!

By: DealMaven

DealMaven — Thu, 23 Apr 2009 15:06:49 +0000

That’s 10 debit card purchases using a PIN a month. Always a month with these kinds of accounts.

By: vernon

vernon — Thu, 23 Apr 2009 12:50:18 +0000

To Bank Kid: Don’t guess…. Ask GMAC specifically what the problem is. It may be with something as spelling of you address. And for Pete’s sake go get your free credit report and check it out.
If you believe the credit reporting agencies aren’t as screwed up as a governemnt agency….. please guess again. Good luck
ps I found GMAC people very helpfull and their internet site is excellant.

By: Horseylady

Horseylady — Thu, 23 Apr 2009 05:52:14 +0000

Is that 10 ATM purchases a month or a year?

By: BANK KID

BANK KID — Thu, 23 Apr 2009 05:30:58 +0000

I applied for a GMAC 3% APY savings account awhile ago and was shocked when I received a denial for a SAVINGS ACCOUNT! They stated it was due to the credit check (I’m guessing because I’m a bit younger and don’t have a large credit history), but I have 3 other online savings accounts and had no problem with their application process. Now I’m worried about applying for one of these high-yield checking account out of fear of receiving a denial and it going on my credit report. Can anyone offer any advice? I’m basically applying for this account just for the rate and planning on only doing the minimum number of purchases.

By: lee

lee — Wed, 22 Apr 2009 17:54:56 +0000

That’s sounds great. I was wrong then.

By: DealMaven

DealMaven — Wed, 22 Apr 2009 15:10:26 +0000

We contacted Bank2 and were told that three separate accounts can be opened in the same name. However, you will have to abide by the rules for each account. That means 10 check card purchases and one recurring direct deposit for each of the three accounts. If you can do that, you’re good to go.

By: lee

lee — Wed, 22 Apr 2009 13:49:37 +0000

Susanne,
I doubt you can do that and earn the high rate x 3. Also, remember not to put all eggs in one basket even though it’s FDIC insured.

By: g gesas

g gesas — Wed, 22 Apr 2009 06:02:36 +0000

i know thbre must be some caveat. so what isit.

By: Susanne

Susanne — Tue, 21 Apr 2009 23:51:36 +0000

I have 75K…can I open 3 different accounts at Bank2 online? Thanks!

By: DealMaven

DealMaven — Tue, 21 Apr 2009 21:26:22 +0000

Here’s what the FDIC Web site says:

Bank 2 has been FDIC insured since January 1, 1934.
It was established on January 1, 1903.
Its main office (headquarters) is located at:
909 South Meridian
Oklahoma City, Oklahoma 73108
County of Oklahoma

We don’t usually recommend banks that aren’t FDIC insured. And when we talk about banks that arent’s, such as the Mexican bank we wrote about a few days ago, we make it clear that it’s not insured.

By: tim

tim — Tue, 21 Apr 2009 19:58:25 +0000

I’m not sure Bank2 is FDIC insured–is it?

By: lee

lee — Tue, 21 Apr 2009 13:44:36 +0000

By the way, I’m surprised that SmartyPig still hasn’t dropped its 3.05% rate.