Online Savings Accounts & Current Rates

[blankcheck]

Redneck Bank?!? Now I've seen everthing.

This...just...

Does anyone know anything about this bank? I'm laughing and seriously discussing this at the same time. I didn't even know that was possible until I went to their website.

[hmd2009]

so, again, is it worth rate chasing? I have 27k in DSD with 2.25%, shoudl I move it over to redneck's money market? By next month I'll have deposited about 10k more. With as much money as I'm putting into savings (and I need it liquid because at the end of this month I will be out of work and hubby will be starting a job that pays approx half of what i made before) is it worth it to chase rates with 37k?

[Aleta]

Emigrant Direct down from 2.00% to 1.80%.

[noppenbd]

so, again, is it worth rate chasing? I have 27k in DSD with 2.25%, shoudl I move it over to redneck's money market? By next month I'll have deposited about 10k more. With as much money as I'm putting into savings (and I need it liquid because at the end of this month I will be out of work and hubby will be starting a job that pays approx half of what i made before) is it worth it to chase rates with 37k?

Personally I am not going to chase rates right now. I also am with DSD, with about half of what you have. In the past month I moved money out of DSD, into provident-direct, and back into DSD. The rates are changing too fast right now to do this anymore, so I am going to stick with DSD until things seem to stabilize. After all, you lose a couple of days interest with each transfer.

[hmd2009]

Personally I am not going to chase rates right now. I also am with DSD, with about half of what you have. In the past month I moved money out of DSD, into provident-direct, and back into DSD. The rates are changing too fast right now to do this anymore, so I am going to stick with DSD until things seem to stabilize. After all, you lose a couple of days interest with each transfer.

You're right, just watching DSD's APR go down continously was making me nervous; but I guess I have to realize, ALL of the banks are doing this!

[weissheit]

You're right, just watching DSD's APR go down continously was making me nervous; but I guess I have to realize, ALL of the banks are doing this!

Hence the futility of chasing rate, but in your situation if it gives you a few more bucks to make up for the drop in income that is about to occur it might be necessary. Good Luck!

[Aleta]

I personally think that when the rates are dropping that it is a mistake chasing the rates as they go down. It's good to have your money in a few accounts where you can move it around as the rates go down. When rates are rising it is easier moving your money around. I can remember wnen they would guarantee a rate for a specific time. Changing now is not worth the time involved in changing money from one account to the other.

[Maxwell76]

I did some reasearch into Redneck Bank and this is what I have found:

Goto the FDIC website

There you can search for "Bank of the Wichitas" (whom the Redneck Bank claims to be affiliated with). It will come up with the information and contain a link to the FDIC insured bank.

You will see that the main page mentions the Redneck bank making this deal legit. It looks like the redneckbank site is simply a portal for applying online. It is still a little sketchy, especially with an interest rate like that.

[blankcheck]

I did some reasearch into Redneck Bank and this is what I have found:

Goto the FDIC website

There you can search for "Bank of the Wichitas" (whom the Redneck Bank claims to be affiliated with). It will come up with the information and contain a link to the FDIC insured bank.

You will see that the main page mentions the Redneck bank making this deal legit. It looks like the redneckbank site is simply a portal for applying online. It is still a little sketchy, especially with an interest rate like that.

Thanks, I always wonder about gimmicks when it comes to the internet and finances. Everything appears legit for them. I'll just stick with HSBC and FNBO for now.

[Aleta]

FNBO is a sound bank. I personally like the bank.

[Aleta]

Emigrant Direct down from 1.80 to 1.65%.

[Slee_Stack]

DSD down for the SIXTH time in less than two months. 2.05%

[saverbootay]

CNB is down to 2.8%. Guess if you want over 3%, you have to go Redneck.

[sweeps]

Guess if you want over 3%, you have to go Redneck.

Get 'er done

[mrose1120]

i'm mainly with FNBO, but i decided rather than putting larger amounts in savings for now, i'm gonna pay down student loans and do some investing in stock market or other accounts once i read up...