$150 Reward with PNC Bank Virtual Wallet with Performance Spend

Posted July 24, 2012

Get a reward of $150 from PNC Bank. To qualify, open a Virtual Wallet with Performance Spend, receive a Direct Deposit, and complete one payment using the PNC Online Bill Pay within 60 days of account opening.

A total amount of all qualifying Direct Deposits credited to your checking account must be at least $2,000. A qualifying Direct Deposit is defined as a recurring Direct Deposit of a paycheck, pension, Social Security or other regular monthly income electronically deposited by an employer or an outside agency into a Performance or Performance Select Checking Account, or the Spend Account of a Virtual Wallet® with Performance Spend.

The $150 reward offer is only available to residents of AL, DC, DE, FL, GA, IL, IN, KY, MD, MI, MO, NC, NJ, OH, PA, SC, VA and WI.

The new personal checking account must be opened online by 9/30/12 to qualify for the $150 reward. See the PNC Bank Reward page for more details and to open an account.

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1.25% APY Money Market from UFB Direct

Posted July 20, 2012

1.25% annual percentage yield is available on a money market account from UFB Direct.

Seeing a money market account with a 1.25% annual percentage yield (APY) is like seeing an oasis in the desert right now. You're happy to see it, but you're just not sure if it is a mirage or not.

We may be in an interest rate desert right now, but this is no mirage. UFB Direct's 1.25% APY Money Market account is the refreshing cool blue water you've been thirsting for. It's also one of the highest yields out there right now on an Internet account.

The Money Market account does however have a small barrier to entry for some savers. The UFB Direct Money Market account requires an opening deposit of at least $5,000. That's higher than what we are used to for an Internet account, but it's by no means outrageously high.

Although you are not required to keep the minimum $5,000 balance to earn the big 1.25% yield, you'll need to keep a minimum $5,000 average ledger balance in order to avoid a $10 monthly fee.

That might seem like a bit of a hassle after being used to no minimum / no fee savings accounts, but with the low-rate environment that we're in, we've got to accept some sacrifices to get a better return.

The UFB Direct Money Market account comes with a package of convenient features. You'll get a free Visa Debit card and free limited Check Writing. (Remember, this is a money market account, so it has withdrawal limitations.) There is the ability to deposit checks with your mobile phone using their tool called “Mobile Deposit.” If you don't have a smart phone, you also have the option of depositing checks from your computer and scanner at home.

UFB Direct has been around for some time. It's had a rough life, having been picked up and sold by different banks and investment entities through the years before the FDIC shut it down in 2010. Bank of Internet has recently purchased UFB Direct and has been breathing new life and innovation into it. Deposits at UFB Direct are actually held by BofI Federal Bank and are FDIC insured through BofI Federal Bank.(www.ufbdirect.com)

View More: Online Savings Account Rates

$50 Limited Time Bonus at MotifInvesting.com

Posted July 19, 2012

For a limited time, Get $50 cash when you open a new brokerage account with $1000 or more. Learn more at MotifInvesting.com

Motif Investing is an online brokerage firm that allows you to easily buy a portfolio of stocks that reflect an investing idea – what the company calls a “motif.” Some motifs include Biotech Breakthroughs, Discount Nation,  Recession Resistance, All-American, Rising Food Price, and Senior Care.

Each motif is a carefully researched and weighted portfolio of up to 30 stocks. You can invest in the motif as set by Motif Investing or you can customize the portfolio by changing the amount of an individual stock within the portfolio, deleting stock from the portfolio, and even adding new ones.

Unlike a mutual fund, you will own all the stocks in the motif individually, so you can buy and sell them whenever you like.

You'll pay just one low commission of $9.95 to buy a motif – which contains as many as 30 stocks. Buying additional shares of a stock in the motif costs just $4.95.

Unlike mutual funds, Motif Investing does not have expense ratios or charge management fees.

Plus, for a limited time, Get $50 cash when you open a new brokerage account with $1000 or more. Learn more at MotifInvesting.com.

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Off the Charts CD Rates

Posted July 18, 2012

I know, you want CD rates that are so big that they are “off the charts.” I'd like those CD rates too, but these aren't them.

No, these “off the charts” CD rates are simply CDs (certificates of deposit) that have terms that aren't the usual 3-Month, 6-Month, 1-Year, 2-Year, 3-Year, 4-Year, or 5-Year terms that are listed on eMoneyCentral.com's CD rate charts.

Sometimes, these CDs are offered by banks as limited time specials that may have higher rates than regular term CDs, but not always. They are presented here to you in case you have savings goal with a time horizon that doesn't neatly fit the usual CD terms.

In this episode of “Off the Charts CD Rates” we're going to focus on longer term CDs. That's because we are in a low-rate environment and if you want higher rates, you're going to have to go with certificates of deposit with longer terms to maturity.

Off the Chart CDs from Discover Bank

Discover Bank has got two options that are “off the charts” – a 7-Year CD and a 10-Year CD. The 7-Year term has a CD rate of 2.00% annual percentage yield (APY) and the 10-Year term has a slightly higher rate of 2.25% APY. CDs from Discover Bank can be opened with a minimum deposit of $2,500.

Discover Bank's Off the Chart CDs
2.00% APY 7-Year CD
2.25% APY 10-Year CD

View Discover Bank CDs

Off the Chart CDs from iGObanking.com

iGObanking.com also has 7-Year and 10-Year CD options, but next to Discover Bank's mighty CD rates, I don't think you'd be all that interested. Both CDs at iGObanking.com pay a relatively small 0.50% APY. That rate is a little too small to hang-on to for seven or ten years.

iGObanking.com's Off the Chart CDs
0.50% APY 7-Year CD
0.50% APY 10-Year CD

Off the Chart CDs from E-LOAN

E-LOAN also offers an “off the charts” CD rate. This bank has a 6-Year CD that earns 1.70% APY. This CD rate isn't a real bargain since 1.75% APY can be had on some 5-Year CDs, but if you are looking to lock-in a CD rate for a term longer than five years, but less than seven, this is one of the few choices you have. It takes a minimum deposit of $10,000 to open the 6-Year CD at E-LOAN.

E-LOAN's Off the Chart CD
1.70% APY 6-Year CD

Off the Chart CDs from Third Federal Savings & Loan

If you really want a 6-Year CD, Third Federal Savings & Loan also offers one. The CD rate on this certificate is a bit more enticing than E-LOAN'S. This one pays 2.00% APY for its six year term. That's the same CD rate Discover Bank is paying on it's 7-Year CD. Not too bad. The minimum deposit needed to open a Third Federal savings & Loan CD is $500.

Third Federal Savings & Loan's Off the Chart CD
2.00% APY 6-Year CD

View More: CD Rates

No Minimum Savings Account Rates

Posted July 16, 2012

You like earning high savings account rates, but you don't want to have to deposit tens of thousands of dollars to earn it. That's where the no minimum savings account comes in. These accounts offer good rates without requiring a minimum balance amount.

These are the accounts that made Internet Banks famous. These No Minimum Savings Accounts offered exactly what savers wanted – high yields, no minimum balance to earn the yields, and no fees.

But while savers in 2006 were getting bank busting rates on their No Minimum Savings Accounts,  savers in 2012 are living with a savings account rate drought. That however doesn't mean that No Minimum Savings Accounts are dead. In fact, these accounts still offer good deals compared to accounts that require minimum balances to earn high yields.

Here are some No Minimum Balance Savings Accounts that you should look at if you want to open a high-yield savings account in these low yield environment.

0.85% APY American Express Bank: High-Yield Savings
0.84% APY Ally Bank: Online Savings
0.80% APY ING DIRECT: Orange Savings
0.65% APY FNBO Direct: Online Savings

Click over to the Savings Account Rate chart page to see how these No minimum Savings Account rates compare with other high-yield savings accounts.

View More: Online Savings Account Rates

Top CD Rates Remain Constant

Posted July 12, 2011

While some of the lower yielding CDs have had their rates raised in the past few weeks and some of the middle to higher yielding CDs were adjusted downward, the top earners have remained consistent. The top of the CD rate charts are dominated by just three banks: Discover Bank, Colorado Federal Savings Bank, and EverBank.

Top 3-Month CD Rate

Unlike the other two banks, EverBank is king of the hill on only one spot – the 3-Month Certificate of Deposit. EverBank's 3-Month CD earns 0.66% annual percentage yield (APY). It just beats out E-LOAN's 3-Month CD which earns 0.65% APY and has a minimum deposit requirement of $10,000 compared to the much smaller $1,500 requirement from EverBank.

Top 6-Month and 1-Year CD Rates

Holding two top spots on the CD rate charts is Colorado Federal Savings Bank. This bank hasn't changed its rates since February which helped it hang on to the #1 spots on the 6-Month CD rate chart and the 1-Year CD rate chart. Colorado Federal Savings Bank's 6-Month CD earns 0.80% APY and the 1-Year CD earns 1.05% APY. Minimum deposit to open a certificate of deposit at Colorado Federal Savings Bank is $2,500.

Top 2-Year, 3-Year, 4-Year, and 5-Year CD Rates

This next bank owns the next four top spots on our CD rate chart. It's Discover Bank. Their top earning CDs are 1.15% APY for 2 years, 1.35% APY for 3 years, 1.55% APY for four years, and 1.75% APY for 5 years.

While Discover Bank's 2-Year, 3-Year, and 4-Year CD rates are uncontested for the top spot, it's only fair to mention that Discover Bank shares the top spot for the 5-Year CD with iGObanking and Third Federal Savings & Loan. Of the three, Discover Bank's minimum deposit requirement is the highest at $2,500. For those with smaller deposits, the same rate can be obtained at iGObanking with a minimum deposit of $1,000 and at Third Federal Savings & Loan with a minimum deposit of $500.

Here are the top CD rates as of July 12, 2012. Rates are listed as annual percentage yield (apy).

3 Mo CD: 0.66% APY at EverBank
6 Mo CD: 0.80% APY at Colorado Federal Savings Bank
1 Yr CD: 1.05% APY at Colorado Federal Savings Bank
2 Yr CD: 1.15% APY at Discover Bank
3 Yr CD: 1.35% APY at Discover Bank
4 Yr CD: 1.55% APY at Discover Bank
5 Yr CD: 1.75% APY at Discover Bank

Don't forget to check out each bank's review page to find out what current and former customers think about the bank.

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NuVision Federal Credit Union $150 Bonus

Posted July 17, 2012

NuVision Federal Credit Union (nuvisionfederal.com) has got a three-part bonus each worth $50. To get the full $150 bonus, open a free checking account with Direct Deposit and eStatements,  keep the account active, and set up Online Bill Pay.

The Checking promotional offer is valid only for Southern California residents within ZIP codes 90000-93591 and Arizona residents within ZIP codes 85117–85299.

The First $50 Bonus

The Free Checking account needs to be opened with a minimum deposit of $100. To earn a dividend on the account, there must be a minimum balance of $2,500. A Direct Deposit of at least $300 must be established within the first 90 days. eStatements must be established and maintained. If the promotional requirements are met, the $50 will become available after the initial 90 days.

The Second $50 Bonus

The checking account must remain active for at least 90 days to earn the second $50. That means there must be a minimum of 5 signature based transactions per month, for the first 3 consecutive months.  

The Third $50 Bonus

The last bonus requires you to set up Online Bill and make a minimum of 3 bills paid online per month for the first 3 months.

Membership in NuVision Federal Credit Union is required to open an account and receive the bonus. NuVision has an easy way to qualify for membership: NuVision will enroll you in the American Consumer Council (ACC) at no initial cost and that allows you to meet the credit union's membership criteria. You are not required to maintain your membership in ACC after you become a member of NuVision Credit Union.

NuVision Federal Credit Union has over 11 branches located throughout Los Angeles and Orange Counties and 1 branch located in Mesa, Arizona.

See the Checking Account Bonus page at NuVision Federal Credit Union for more details.

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$125 Cash Bonus from Chase

Posted July 16, 2012

Open a Chase Total Checking account with a $100 opening deposit, set up direct deposit and get a $125 cash bonus.

The direct deposit must be made to this account within 60 days of account opening in order to qualify for the bonus.

The $125 bonus will be deposited into your new account within 10 business days after Chase receives your first direct deposit.

The Chase Total Checking account charges a $12 Monthly Service Fee ($10 Monthly Service Fee for CA, OR and WA)  unless any one of the following requirements are met each statement period: #1: Have a monthly direct deposits totaling $500 or more made to this account; OR, #2: Keep the daily balance in your checking account at or above $1,500; OR, #3: Keep an average daily balance of $5,000 or more in any combination of qualifying Chase checking, savings and other balances.

Account features include free Online Banking and Online Bill Pay, free Chase Debit Card with built-in security, free Text and Email Alerts, and 24/7 access with Chase Mobile on your phone.

This $125 bonus offer is valid through 8/18/12.

See the Chase Bonus Offer page for more details.

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Ally Bank No-Penalty CD

Posted December 8, 2011

With rates on bank products like savings accounts and certificates of deposit (CDs) falling almost daily, there is great incentive to lock-in a rate now to preserve future interest income. A CD account will do just that.

By depositing your money into a CD account, the bank agrees to give you a specific interest rate over the life of the CD term. In return, you, as a depositor, agree to not withdraw your principal (your deposit amount) until the CD term ends.

By getting a CD, you protect yourself from future rate cuts and the loss of income that results from it.

But what if you unexpectedly need the money before the term ends? Let's say that your car needs a new battery and you don't have enough money in your checking account to cover the cost? That money you've got locked away in the CD can come in handy right about now, but there is a catch. If you pull the principal amount out from the CD, you will incur a penalty. That penalty could be several months worth of interest.

That's one of the reasons people avoid getting a CD. It's the fear that they will need the money before the CD matures. In order to avoid the whole withdrawal penalty issue, they end up getting a savings account instead. So while they can withdraw funds without penalty, they wind up watching their interest rate diminish month after month as banks cut rates.

But Ally Bank has another option. It's a No-Penalty CD. It combines the benefits of locking-in a rate with the ability to get your money out penalty-free.

The No-Penalty CD lasts for a period of 11 months. That's 11 months of not having to worry about rate cuts and decreases in your monthly earnings. But the big benefit of this CD is that if you find that you need your money back before the CD matures, you can get your full balance back any time after the first six days of funding the account without penalty.

Another great thing about Ally Bank's No-Penalty CD is that you won't be giving up too many percentage  points by choosing this CD over a regular CD or a savings account. As of this writing, the No-Penalty CD earns 0.96% annual percentage yield (APY) (UPDATE: The No-Penalty CD earns 0.91% APY as of 12-23-11). Ally Bank's regular 1-Year CD earns 1.02% APY and the No-Penalty CD actually earns more than Ally's Online Savings account which earns 0.89% APY.

So if you are one of those people comparing rates and can't decide between the ease of making withdrawals from a savings account or the ability to lock in a rate with a CD account, consider the Ally Bank No-Penalty CD. You can lock-in a decent rate for the next 11 months and withdraw your money without penalty if you need it.

The Ally Bank No-Penalty CD has no minimum deposit requirement to open. Interest compounds daily. Visit Ally Bank for more details on the No-Penalty CD.

View More: CD Rates

$25 Bonus from Betterment

Posted September 20, 2011

Open a new account at Betterment and get a $25 bonus.

To qualify for the bonus, you must make an initial deposit of $250 within 60 days of signup and not withdraw that initial deposit for 60 days.

Offer available to U.S. Residents only.

Betterment offers an easy way for people to invest in stocks and bonds. The company blends the simplicity of an online bank account with the higher long-term returns associated with investing in stocks and bonds.

Betterment works by investing your money in either higher-return investments, made up of stock ETFs, and less risky investments, made up of Treasury bond ETFs.

You can easily choose how to divide your money between the two types of investments by using Betterment's online allocation slider. Want more exposure to stocks? Slide the allocation button up and Betterment invests more of your money into stocks. Do the reverse for more exposure to bonds.

Betterment charges a low annual management fee of 0.3% to 0.9% of your average balance depending on how much money you have in your account.

After making the initial deposit, there are no minimum balance requirements. Funds transfers and trades are free of charge to make.  

Get a $25 Account Bonus when you sign up for Betterment.

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ING DIRECT $50 Bonus with Checking Account

Posted March 22, 2011

You may have heard about the ING DIRECT Orange Savings Account which brought online saving to the mainstream. You may not know that ING DIRECT also offers a checking account. It's called the Electric Orange Checking account.

ING DIRECT is rewarding customers with a $50 bonus after opening a new Electric Orange Checking account.

All the customer has to do is open the Electric Orange Checking account from the bonus page, then make a total of 3 Card purchases or Person2Person Payments (or any combo of the two) within 45 days of account opening.

The bonus will automatically be deposited into the account on day 50.

The Electric Orange Checking comes with high rates, but the payout is based on a tiered structure where higher balances get higher rates. Balances under $50,000 earn 0.25% apy. Balances between $50,000 and $100,000 earn a savings account rate of 1.10% apy. Balances over $100,000 earn 1.15% apy.

Unlike many checking accounts, ING DIRECT doesn't charge a monthly service fee and doesn't have a minimum balance requirement.

The account comes with a free MasterCard® Debit Card for all purchases and free Online Bill Pay. But it may perplex people that this checking account does not actually come with checks. It is a “paperless” account that expects customers to conduct business using the online banking system. However, a paper check can be sent out using the online banking system if needed.

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Reviews

• Ally Bank
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