About Me

Ima saver (julie is my real name)

I am over 60, but still feel like I am just 7. I love to go dancing with my wonderful husband of almost 30 years. Since we have never earned a lot of money, we have learned to take care of what we have. We live in the mountains in north georgia in a big beautiful house that my husband build and it is mortgage free. Now I am trying to save so my "younger" husband can retire someday.

Transferred $11,000

January 15th, 2008 at 07:44 am

I opened up a new account at Umbrellabank a few weeks ago with the minimum to earn 5%, which was $1000. Yesterday, I sent an extra $11,000 to the on line bank. I am a little leery of banking with a bank that is online only and so is dh.
I really sure put a large sum of money in there to earn the higher interest rate, but I will probably do it just a little bit at a time for now.
I am worried that I will transfer a lot into the bank, and then they will lower the rate, like ING did.
Does anyone bank with Umbrellabank??

Posted in saving | 2 Comments »

2 Responses to “Transferred $11,000”

Sallyr70 Says:
January 15th, 2008 at 10:47 am

I have not heard of that one but will check it out! 5% is pretty good.... thanks for bringing this up. I hear ya though on your concern that the rate might be a teaser.
baselle Says:
January 15th, 2008 at 09:33 pm

I'm more worried the other way. Sure you can put $ into a Countrywide account at 5.5% and have it FDIC insured, even if Countrywide goes BK. All that means is that the FDIC has to pay it within 10 years.

Ima Saver's Personal Finance Blog

Trying to spend and save wisely

Transferred $11,000

2 Responses to “Transferred $11,000”

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