Comments on: Recent Bank Findings: Darby Direct 3.00% APY, Heartland Bank Direct 2.30% APY

By: Leslie Tobin

Leslie Tobin — Sun, 03 May 2009 19:14:09 +0000

Darby – is it possible to open a/c with a co-owner living in another state than I.Are checks in the picture? And what is the interest rate now 5/3/09

By: Tom C.

Tom C. — Fri, 01 May 2009 23:48:09 +0000

Review of Darby-Direct online savings account.
I sent 4 emails with questions over a 2 day period. Each email was answered within ½ to 2 hours of being sent. The online application was straightforward and I was immediately able to initiate the bill pay feature.
Per Jennifer D. White, Internet Banking Administrator at Darby-Direct:
Darby-Direct on-line savings account can be opened only via ACH transfer initiated by Darby online application with initial funding limit of $10,000. Additional funds can be added via a transfer feature of Darby Bill Pay or via either ACH or wire transfer initiated by an external bank. Wire transfer from an external bank can be made immediately after completing online application, even before initial ACH transfer has been processed. No mailed funds are accepted. Inbound transfer limits of Darby bill pay are $10,000 per day & $25,000 per month; outbound limit is $2,500 per day. There is no dollar limit to deposits made via ACH or wire transfers initiated from external banks. More then two beneficiaries can be added after the initial application. A signature card is not required for FDIC insurance.

By: Erik

Erik — Tue, 21 Apr 2009 21:23:10 +0000

Check out the latest top bank rates from CheckingFinder.com (as of April 20). These are NOT teaser rates.

Rates with a * signifies this bank rate is available nationwide.

First Robinson Savings Bank – Robinson, IL 6.01
Southern Missouri Bank & Trust 6.01
LA DOTD Federal Credit Union – Denham Spring, LA 5.25
Keystone Bank – Auburn, AL 5.15
*Connexus Credit Union – Wausau, WI *5.15
Community State Bank – Poteau, OK 5.05
First State Bank – Kansas City, KS 5.03
State Employees Credit Union – Santa Fe, NM 5.02
Grand Bank of Texas – Grand Prairie, TX 5.02
Malvern Federal Savings Bank – Paoli, PA 5.01
Union State Bank – Everest, KS 5.01
First Banking Center – Lake Geneva, WI 5.01
Noble Bank & Trust – Anniston, AL 5.01
Olmsted National Bank – Rochester, MN 5.01
Texas Citizens Bank – Pasadena, TX 4.76
Harbor Credit Union – Green Bay, WI 4.55
*Royal Banks of Missouri – St. Louis, MO *4.55
Finance Center Federal Credit Union – Indianapolis, IN 4.51
The Community Bank – Brockton, MA 4.51
Bank of Little Rock – Little Rock, AR 4.51
*Focus Bank – Charleston, MO *4.51
Community National Bank of the Lakeway Area – Morristown, TN 4.51
First-Lockhart National Bank – Lockhart, TX 4.51
Workers Credit Union – Acton, MA 4.51
Brookhaven Bank – Atlanta, GA 4.5
*First Arkansas Bank & Trust – Jacksonville, AR *4.44

Hope this helps!

By: Sun

Sun — Wed, 15 Apr 2009 19:50:07 +0000

@captainK Where did you get the information on fund transfer? I went through their website, but didn’t see anything about the wire transfer. If that’s the case, then it will be terrible.

While the government may not require banks to lower their rates once they received the TARP money, I did hear that the FDIC has a rule prohibit “weak” banks from setting rates too high. The rates have to be inline with the something like an average rate determined by the FDIC.

By: captainK

captainK — Wed, 15 Apr 2009 19:43:09 +0000

More thoughts…….

The Obama government wants consumers to SPEND not SAVE, to revive the economy. With the TARP money flowing, is there a posibility that the government has used tax payer TARP funding to the banks under the conditions that they LOWER their savings rates?