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First transfer

April 7th, 2015 at 08:15 pm

I did my first transfer today from My savings direct into my local checking account. I do a lot of transfers during the year, because I am always moving money from my savings into my local checking. I use my local checking to pay all the bills on the spec houses that we built.
I did keep my money locally in the bank, but in February they stopped offering accounts that pay 1% interest. Instead they are back to pay 1/10th of 1% interest which is what most banks now adays.
Since I keep a lot of cash in savings accounts, I am always shopping around for the accounts that pay the best interest rates.
One of these banks is My Savings Direct (Emigrant Bank) which is paying 1.05% interst.
I ordered the transfer this weekend and the bank noted that it would be processed on April7th (today)
I was happy to see that the transfer took place this morning and when I checked with my local bank, the money was already there. I am glad to see it went so smoothly.
I think I am really going to like Mysavingsdirect. I really also like the fact that they post interest, month to date, every single day!!

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