It looks like a slow drip, but week by week the rate is going lower and lower.

These people get it right the first time. Great bank to do business with.
They have a very easy sign up online process and great customer service and great service and great interest rates why not bank with Countrywide Bank.

“If you think the decline by CW to 3.8% is the last decline, you are sadly mistaken.”

Although I never suggested such, I would say the same for the suggestion about AARP Savings which has now dropped from 4.75/4.50 to 4.05 for both the jumbo and the high yield.

$10,000 investment
X 4% interest
$410 per year

$410
- 300 (inflation rate = 3%)
$110
-112 taxes
$-2 return after taxes and inflation

Hip-hip hoorayyyyy!!!

In response to AARP Savings, you need to be an AARP member (age 50 ) to open an account. I still have about 20 years to go! Besides that AARP seems to have the best deal right now.

http://bankdeals.blogspot.com/2008/05/update-on-aarp-financial-savings-center.html

If you think the decline by CW to 3.8% is the last decline, you are sadly mistaken.

Better to get 4.75% at AARPSavings.

I have no idea why Banaholic doesn’t add the AARPSavings Jumbo Money Market Account or Regular Money Market Account (the regular MMA is paying 4.5%; the Jumbo MMA requires $50K minimum to get the 4.75%).

Apparently the rate has lowered a bit, but still better than Emigrant direct so I’m making the switch.
Application process was smooth and am now waiting for the funds to transfer between accounts.

Very good rate for the term! Account was easy to open online and they save the rate for up to 10 days. I went down to a local branch to make the deposit and they were friendly and very helpful. I would definetly bank with them again!

The on-line interest rate (which I confirmed verbally with a rep)was arbitrarily (?) reduced when the signature card arrived. With tactics like that I will NEVER use Countrywide Bank again. I will also tell anyone who will listen about my experience. It is not the amount of money. It is the prinicipal of the matter and being lied to. What a way to do business. Shame on YOU Countrywide.

opened my account with CW on the 2nd. I’m already earning Interest. I found it to be very easy. I’m glad I finally left Emigrant direct. Emigrant was very good & nice to do business with. I gave them a few months to offer a better rate, since they didnt I left. So far so good.

I opened a savings account 2 weeks ago with no problem. Nice interest rate of 4%. Found out Bank of America will merge with Country Wide in Sept, 2008. BoA is opening an online savings account program in 4-6 weeks. Will be interesting to see if they are serious in competing with other online savings accounts. If not I will go elsewhere.

Excellent on location service (Mill Valley). My wife had a mortgage with them for nearly 10 years, it was all good. Now they might be in some difficulties (just like everybody else really), but with the backing of Bank Of America and FDIC, with providing such attractive rate, no an issue at all. If you think receiving money is an issue, you should consider opening a MM account in conjunction with your CD account, as you can almost write out checks immediately instead of waiting for a check. Time is money and with MM account, waiting is no more an issue.

I was at Emigrant Direct and their interest rate rate has now dropped down to 2.75%, no longer at the top of the game. I switched to Countrywide because they are at 4.00% today…. If they drop their rates relative to their competitors, we are out of here…They are very easy to set up accounts and link to your permanant parent bank account. I hope that helps.

I would not give this bank even 1 star.
Have had SavingsLink accnt for about 4 mths, now we have no access to our cash due to “website problems” that may take up to 4 days to fix!! IF they can find out what the problem is. Phone calls result in NO help, bad attitudes from employees. After telling us that there is nothing they can do to get us our funds and that we would just have to wait until their “webmaster” straightens this mess out, that they have “other customers to attend to” we were asked if their was anything else they could help us with. HaHaHA, some help. Easy access to your accnt is a lie!! We will be taking our money out of this accnt and moving to another bank (takes 10 working days according to their so-called help line)

The rates dropped significantly after I locked my rate. The bank has a policy that the rate is locked for 10 days but the paperwork “didn’t get processed” in time so I received a much lower CD rate.

This is the true definition of bait and switch. I will never deal with this bank again after my CD matures.

I applied online to open an account but my application never went through. When I called them up, they said that they never received my application which might be due to a browser compatibility issue. My problem never got resolved even though I tried my browser settings based on their feedback.

I get excellent response time on fund transfers, both in and out, and no hassel on CD maturity instruction executions. They sent an alert form out 2 weeks ahead of maturity and I mailed it back requesting the funds to be deposited in another account rether than automatically renewing. It all went exactly as I asked.

Once the B of A takeover is finalized, the interest rate will drop faster than a man without a parachute jumping off the Empire State Building.

B of A never ever pays high interest rates since they are so huge. Seriously, check out the interest rates that B of A pays for their savings accounts and CD’s.

So, enjoy your 4% interest while you can.

Highest rates and excellent service. By mistake I put to much money in my IRA, to avoid a penalty to IRS Countrywide helped me transfer funds out with no fee and were very helpful.

Trying to close a matured CD within the 10 day grace period was frustrating. Although customer service reps were very professional, I had to call 3 times to close acct. You cannot just transfer the money back into the account from which it was initially withdrawn..it has to be done by check or wire transfer (which costs $15!)
It took the full 10 days to finally get the account closed!

fast transfers and highest interest

all of the above

sure, they have lots of mortgage issues, but with bank of america backing them, they will never go under.

also, i’ve noticed that for the last few months, they always have great interest rates

what if the bank of america deal does not go through? then what? seems risky.

within around 3 months, Countrywide is mergering into Bank of America, at the same time, enjoy the best cd rate

If this bank fails, your money is
insured but not the interest that
you will lose in the 2-6 months
it will take for FDIC to give you
access to matured CDs dropping into limbo. Ask yourself why their
rates are always a half-point or more better on short term CDs. They’re a risk so they have to offer you more.

Today, Countrywide dropped their SavingsLink rate to 4.05% APY.

Anyone want to bet the rate drops again after the Fed Fund cut this month?

The days of 4% for an online savings account will soon be long gone.

How long will it take before the rates go back up to 5%?

After B of A takes over Countrywide, I assure you the Countrywide SavingsLink rate will never go back up, as everyone knows B of A does not pay high rates for savings accounts.

What I like:

Fast ACH transfers
Easy to use website
High rates
Good security measures
Great customer service
No fees

You don’t get the rates listed on their web page…at least I didn’t. I applied online while the 6 mo. CD was showing a 4.60% APY, and when the paperwork arrived, the rate was switched to 4.30%. Good thing I waited to transfer the money. Customer service didn’t help either.

Don’t trust this institution.

I mailed a form for Maturity CD transfer and they use it for CD interest transfer among other things.

Next time, I have to check the wrong boxes on the form so they can make it right.
Guinness World Record for incompetence!

I was approved for a high interest6-month CD online and my new packet info came quickly but Countrywide never transferred my money out of my TD Ameritrade account and so I never actually got my CD opened….after 2 attempts and phone calls to their Customer Service. It has been very frustrating! I will not make a 3rd attempt.

Interest rates beat any local bank. Have found the CountryWide website easy to use. Bank transfer was fast and efficient. My account packet arrived quicker than expected. They will get more business from me if the interest rates are high.

I Opened up a CD and I am not a previsous account holder. Best interest rate available at that time with a quick and easy process to transfer money from an external bank account to Countywide. I called customer service to ask a couple questions and they were very very helpful. I highly reccomend using Countrywide and will consider using them in the future if their rates competitively high.

Interest rate recently dropped to 4.25%

A little something I found through a little research…Just so you know…

Thanks to Bank of America’s agreement to purchase Countrywide which was announced on January 11, 2008, the danger of the lender going under may have passed.

The Bank of America purchase is both a blessing and a curse to savers. On the positive side, Bank of America is well capitalized. This gives Countrywide Bank customers a sense of safety from insolvency that they didn’t have before the purchase agreement.

On the other hand, when high risk goes away, so does the reward. Countrywide Bank had offered some of the highest rates available on money market accounts and CDs to attract desperately needed funds. Now that the bank isn’t so needy, expect rates on deposit accounts to fall. After the purchase is complete and Bank of America gains control of Countrywide, expect rates to fall hard. Bank of America, after all, is not known for high rates.

Rate on my acct is 4.5% today.

Couple of years ago I opened a CD with them. I was told I had to write to them a week prior to the CD mature date in order to get my money back in a check or the CD would automatically renewed. After I wrote to them twice and several weeks have passed, I still didn’t get my check. I contacted them at least three times and was told first they didn’t receive my letter, then the check was sent out already, then the signature card upon opening of the account was lost until I sent them my copy of the signature card. Eventually one rep. told me the check would be mailed out later in the week and the manager would call me back to confirm it. Two days later, I happened to look at my front porch, I found the express delivered check sitting on the ground soaked in rain water. Of course, I never received any phone call from any big manager. I swore then I would never put my money in this bank no matter how high of an interest rate they offer. I am not surprised at all when it broke the news this bank is in big trouble. I think they just have very low ethics and until that is fixed, you always have to worry about your money!

CWF has no tellers, no ATMs and therefore not a very easy way to access your money. Everything by mail. When your CD matures, they MAIL you a check, thereby losing interest during the snail mail. If you also have opened an online saving account, then you can transfer the maturing CD monies into your CFW savings account, which pays a little interest. But then, if you want your money, you have to MOVE it by ACH or WIRE transfer to another bank.
If you consider all this and its OK – then go for it. DO NOT put a total of more than the FDIC insured limit.

Typically Open a CD takes 2 to 10 Business days. During this time window, Countrywide will lock highest rate for you.

Today’s rate is 4.75%, if you request today, within next 10 business days, your CD rate will be at least 4.75%. If CD rate goes down, you lock the 4.75%, if CD rate goes up, you lock into the new higher rate. Very Nice feature.

So you needn’t to wait for your money ready, Open Now and fund it later.

Countrywide starts accrue your interest as soon as you fund your CD account. It is pretty fair.

Countrywide is easy to use with their online application, however, they have lost several of my clients checks. After weeks of calling them trying to track it down, the check was either finally found, shredded, or returned to my client, with no communication to my client that their account was never opened.

You can ask the same question to three different customer service reps and get three different answers! I have spent HOURS on the phone trying to get simple things handled. When my CD matures I’ll probably go back to WAMU at least there they have competent people.

Savings interest rates are dipping everywhere, not just Countrywide, they’re good for now, make sure you don’t throw away any statements

Good customer service and thus far seems great. When my CD matures, I’ll reevaluate.

Terrible customer service that doesn’t answer simple questions via email. Forget about getting someone on the phone. At least a month of lost investment due to the snail mail & their slow processing. Go for a lower rate w/ better customer service. Too bad I have a 6 month & a 12 month CD still process w/ these idiots.

Great rate but expect long delays for large withdrawls.

Just opened a SavingsLink MMA – great rate! Moved money over from HSBC, where the rate keeps going down. Great experience with Countrywide so far, the only downside is they hold your deposits for 7 business days before you can withdraw, so I suggest you make deposits in chunks, so all your money isnt locked up. Withdrawl transfers via website are super fast! Much faster than HSBC.

MSN.com reports this day that Countrywide Financial stock tanked despite its denial that it will file for bankruptcy…caution!

This is a great bank to do business with on-line. If you dont mind transfering funds via the internet, youll love it.

Been using for 1 month now – everything has been great, and theyve maintained 2nd best rate in the country – Customer Services has been above average as well

I dont see how this bank can be a 5 star. Unless you have another CW account, all payments are done through mailed checks only! It takes them a almost two weeks before all the funds show up in your account. Are we in the 21st century yet!

ve been almost a year with CW. Easy and free to transfer in/out account to account.
No issues. Like it.

I opened a Personal Money Market Checking acct. on 10/9. The interest rate has been lowered twice with no way to withdraw my funds. I thought when I opened the acct. that they would send checks, but I was mistaken. Then, on 10/24, I specifically requested they send blank checks, but as of 11/08, none have been received.

Customer service very poor – by phone or e-mail. Deposit delays. Rates cant justify the hassle when they make mistakes, dont answer questions and communicate with you will all e-mails signed customer care team.

Easy to set up. Great rate. It does take a week for inbound transfers to become available. I called and asked about that. They said interest is earned as soon as the money is in the account, although it isnt available for a week.

So, I cant bounce money back and forth, but I consider that ok since Im getting 5.5%.

Whenever Ive called customer service, the call has gone through quick and I spoke to friendly, knowledgeable people.

I have yet to pull funds out.

Good Bank. Good Customer Service. Transfer appears to happen about the same day as opposed to other banks where you loose a few days in transit !!!

why would you tell a bank that you had been involved with the bank from hell? this is not
eed to know info.why loose out if you have the money to invest?

our mortgage has been with them for years. bought a cd. very easy.no problems yet.

Countrywide is not a conventional bank, in that they DO NOT keep cash in any of their branches (this statement made by local branch manager). When you open an account, paperwork has to be sent to East Coast office for processing. (Strange, in that their corporate headquarters is in So.California). Personnel are not very helpful. Other banks (ie: IndyMac pay same or higher rates and have better service both in branches and/or online).

easy to set up account. i havent tried to withdraw money yet. great rate.

no problem with setup or deposits. after 4 months, still satisfied

banks is not willing to work with someone that is a victim of another banks error. difficult

This was the first of several internet bank accounts we established. I have to say that Countrywide Bank was one of the easiest with which to work. Good on-line assistance in the process, too!

countrywide has a lot of local branches near us.

cant go wrong with their bank

i think its really safe for those who have a lot of money,rates are pretty good.

Great rates excellent if you have the money

Well rates is excellent with high money deposite. I think I should try it.

Graet bank has one of the highest APY.

I think one can put trust on this bank. Their service is really very professional…
-SSJ

their savingslink product is a very popular option for high rates from a quality, trustworthy bank