<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Transferred $11,000

Transferred $11,000

January 15th, 2008 at 03:44 pm

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”

  1. Sallyr70 Says:
    January 15th, 2008 at 06:47 pm 1200422868
    1200422868

    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.

  2. baselle Says:
    January 16th, 2008 at 05:33 am 1200461636
    1200461636

    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.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]