Recent Bank Findings: Redneck Bank 3.10% APY and Danvers Bank 3.00% APY
Stocks are down (another 300-point plunge of the Dow today closing below 7,000 for the first time in 13 years) and savings account interest rates are declining too. Are you wondering where to put your money these days? Treasuries are safe, but you won’t get much from buying bonds/bills unless safety is your absolute concern. [...]
Random News: 252 Banks on FDIC Problem List, Worst February for the Dow, and Gold Pullback
Yesterday, the Federal Deposit Insurance Corp. (FDIC) released its last quarter banking profile (PDF) of 2008 and the banking sector is still very weak, despite hundreds of billions of dollars infusion from the government. At the end of 2008, a total of 252 banks were placed on the FDIC’s problem bank list, up from 171 [...]
Online Savings Accounts with 3+% APY
Last Friday, I received an email from Dollar Savings Direct, which currently holds most of our cash, another rate reduction notice. This time, the yield of their savings account was lowered from 3.20%, a rate that they just adopted a week ago, to 3.05%. I opened an account with DSD in November 2008 after monitoring [...]
PNC Bank Business Checking Account Finally Up
It has been more than two weeks, but my PNC Bank Business Checking Account is finally up and running. The waiting is much longer than I expected and what happened after the account was opened was more troublesome.
When I opened the account at the branch, I was told to select a PIN so I can [...]
Random News: $8,000 Homebuyer Tax Credit, DollarSavingsDirect 3.02% APY and DTV Delay
Another piece of good news for first-time home buyers from Washington.
U.S. Senate on Wednesday approved a provision that will first-time give homebuyers up to $15,000 tax credit as part of the stimulus plan sought by President Obama. According to an article on NYT, the measure
would give buyers a tax credit of 10 percent of the [...]
Recent Bank Findings: Doral Bank Direct 3.50% APY, CNB Bank Direct 3.40% APY, Chesapeake Bank Clear Sky 3.15% APY
As online banks keep slashing rates, it’s getting harder and harder to find to find a decent rate from popular banks, whose rates are mostly in the mid-2% range now. To find a good rate, you will have to beyond those banks that we used most often.
Recently, I noticed a few such banks which are [...]
Rate Updates: E*Trade Complete Savings 2.50% APY, EverBank Money Market 3.51% APY
For sometime, E*Trade has been pretty good at holding the yield of their Complete Savings Account at 3.01% APY, becoming one of the bright spots when everybody else was in the cutting mood. But that finally came to an end, like all the good things.
E*Trade announced yesterday that effective Monday, February 2nd, the new rate [...]
Got Some Business Done
In late December, I took advantage of the free filing offer from MyCorportation (MyCorporation reviews) and registered my own company for my little online business (and saved $149 filing fee ). I am glad the whole process went very smoothly without any incident. About two weeks ago, the package arrived with the certificate [...]
2009 Bank Failures
Last update: September 18, 2009.
2009 is less than one month old, there are already a few banks being closed, picking up what was left from last year. A total of 25 banks were shut down in 2008. So far in 2009, three have gone under already (the list will be updated continuously as new failed [...]
Dollar Savings Direct Dropped Rate to 3.50% APY
A couple of days ago I was feeling pretty good about Dollar Savings Direct (Dollar Savings Direct reviews) and their seemingly unbeatable 4.00% APY. Today, I am feeling a little disappointed when they finally decided to follow what other banks have done already, cutting their rate to 3.50% APY. From the bank’s point of view, [...]
