Community Chat

[CLEM]

Anyone looking for a bank with a great interest rate, I found Goldman Sachs on line.  1.2% interest on savings accounts and 2.2 interest on a CD.

It's all done on line and their website is the easiest to navigate.  I had opened a CD July 24 and they sent me a notification that they have updated it.  When I checked, I could see the interest earned for the one week in July.  I think that's neat to be able to actually see my money grow every month.

[Yahooey]

@CLEM

I remember going to a Bowery Bank in the 60s, it was magnificent. Large dome with marble pillars and floors. Everything echoed when I click click across the floors with the metal taps on my shoes. Of course I also got a lollipop from the security guard.

Yeah, it went downhill once they stopped giving out lollipops. Commerce tried implementing that but they only gave out red ones, my favs were lime and lemon.

I remembered when my much older sis and mom would move money around for free stuff like TVs, VCRs, Cookie Jars etc. It was a free for all in the 80s and interest rates were high. I think I earn more interest now if I stick it under my mattress.

[Yahooey]

@CLEM

When I was in grade school, there was a weekly collection of the bankbooks to be deposited. I always had a dollor in the clear window of the envelope and then it grew to 2 dollars a week. It taught me to save and I love looking at my name on the official bankbook and interest it accumulated. I was 6 when I started that bankbook and then continued depositing on my own when I stopped going to the elementary school.

[gidgetgh]

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@CLEM wrote:

Anyone looking for a bank with a great interest rate, I found Goldman Sachs on line.  1.2% interest on savings accounts and 2.2 interest on a CD.

It's all done on line and their website is the easiest to navigate.  I had opened a CD July 24 and they sent me a notification that they have updated it.  When I checked, I could see the interest earned for the one week in July.  I think that's neat to be able to actually see my money grow every month.

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@CLEM- what's the term length on the cd?

We have an online money market with American Express. They're currently paying 1.05 (yield). 

Have a local cd paying 1.25% for 18 months and one laying 1.0% for 11 months. Two Different banks. 

[excpa]

I remember when you got a $5 monthly credit if you had direct withdrawal from your bank account.  Now they are charging $5/month for direct withdrawl because iof all the "extra paper work involved".   I paid my insurance premiums for the full year and saved $120.  There was no notice of this change.  Good old Hartford strikes again.  

[viva923]

anyway a bank can make money. Rob from the poor to make the rich more wealthy

[SeaMaiden]

Bank Of America charges a monthly account fee for checking if you fall below a certain threshold $$$ in your accounts.  I believe it is 50 thousand total between checking and savings to have free checking, free checks etc.  Falling below this amount a fee will incur monthly. 

[software]

Do people keep that much money in a bank account?

I wouldn't

Bank on every corner,shop around

@SeaMaiden

[CLEM]

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@gidgetgh wrote:

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@CLEM- what's the term length on the cd?

We have an online money market with American Express. They're currently paying 1.05 (yield). 

Have a local cd paying 1.25% for 18 months and one laying 1.0% for 11 months. Two Different banks. 

@gidgetgh  I tried to copy and paste their schedule,but it didn't work.  Here is the link to their site:  GSbank dot com

click on Savings Products and then click on CD or Savings or whatever you are looking for.  It's worth it.

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[Carmie]

I use a Credit Union.  There is never any fees . I gave up on Banks years ago.