Current Events > 4.50% APY checking account...? What's the catch?

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IdiotMachine 04/02/18 9:37:10 PM #1:	https://www.firstadvantagebanking.com/personal-checking-me.htm 10 debit card purchases (just buy 10 $1 gift cards from Amazon) monthly, sign up for eStatements, and set up direct deposits... and you get 4.50% APY for your checking account for up to $10k? And they reimburse all ATM fees...? ...............................what's the catch here? <cite>IdiotMachine posted [p:898954050] in 4.50% APY ... [t:76479488]...</cite> <quote>https://www.firstadvantagebanking.com/personal-checking-me.htm 10 debit card purchases (just buy 10 $1 gift cards from Amazon) monthly, sign up for eStatements, and set up direct deposits... and you get 4.50% APY for your checking account for up to $10k? And they reimburse all ATM fees...? ...............................what's the catch here?</quote> ... Copied to Clipboard!
FLUFFYGERM 04/02/18 9:38:15 PM #2:	The bank is probably not protected by the FDIC. --- Do good. Eat communists. <cite>FLUFFYGERM posted [p:898954117] in 4.50% APY ... [t:76479488]...</cite> <quote>The bank is probably not protected by the FDIC.</quote> ... Copied to Clipboard!
DifferentialEquation 04/02/18 9:39:40 PM #3:	FLUFFYGERM posted... The bank is probably not protected by the FDIC. It says "Member FDIC" on that page. --- There's no business to be taxed. <cite>DifferentialEquation posted [p:898954209] in 4.50% APY ... [t:76479488]...</cite> <quote><cite>FLUFFYGERM posted...</cite> <quote>The bank is probably not protected by the FDIC.</quote> It says "Member FDIC" on that page.</quote> ... Copied to Clipboard!
IdiotMachine 04/02/18 9:39:49 PM #4:	FLUFFYGERM posted... The bank is probably not protected by the FDIC. It says they're a member of the FDIC. <cite>IdiotMachine posted [p:898954214] in 4.50% APY ... [t:76479488]...</cite> <quote><cite>FLUFFYGERM posted...</cite> <quote>The bank is probably not protected by the FDIC.</quote> It says they're a member of the FDIC.</quote> ... Copied to Clipboard!
chill02 04/02/18 9:41:23 PM #5:	it looks like it's a local bank --- Ave, true to Caesar. <cite>chill02 posted [p:898954351] in 4.50% APY ... [t:76479488]...</cite> <quote>it looks like it's a local bank</quote> ... Copied to Clipboard!
IdiotMachine 04/02/18 9:42:19 PM #6:	chill02 posted... it looks like it's a local bank So? Doesn't say there's a limitation on who can apply. I have Ally bank, so I'm already used to "internet only banking". <cite>IdiotMachine posted [p:898954418] in 4.50% APY ... [t:76479488]...</cite> <quote><cite>chill02 posted...</cite> <quote>it looks like it's a local bank</quote> So? Doesn't say there's a limitation on who can apply. I have Ally bank, so I'm already used to "internet only banking".</quote> ... Copied to Clipboard!
bkkorps 04/02/18 9:43:47 PM #7:	IdiotMachine posted... https://www.firstadvantagebanking.com/personal-checking-me.htm 10 debit card purchases (just buy 10 $1 gift cards from Amazon) monthly, sign up for eStatements, and set up direct deposits... and you get 4.50% APY for your checking account for up to $10k? And they reimburse all ATM fees...? ...............................what's the catch here? they are making you jump though a bunch of extra hoops, aint got time for that crap. --- Minnesota is like having sex in The Boundary Waters. ****ing close to Canada. <cite>bkkorps posted [p:898954498] in 4.50% APY ... [t:76479488]...</cite> <quote><cite>IdiotMachine posted...</cite> <quote>https://www.firstadvantagebanking.com/personal-checking-me.htm 10 debit card purchases (just buy 10 $1 gift cards from Amazon) monthly, sign up for eStatements, and set up direct deposits... and you get 4.50% APY for your checking account for up to $10k? And they reimburse all ATM fees...? ...............................what's the catch here?</quote> they are making you jump though a bunch of extra hoops, aint got time for that crap.</quote> ... Copied to Clipboard!
IdiotMachine 04/02/18 9:44:40 PM #8:	bkkorps posted... they are making you jump though a bunch of extra hoops, aint got time for that crap. Literally buy 10 $1 gift cards on Amazon for 4.50% APY... Also I verified it is FDIC insured: https://research.fdic.gov/bankfind/detail.html?bank=30698&name=First%20Advantage%20Bank&searchName=FIRST%20ADVANTAGE%20BANK <cite>IdiotMachine posted [p:898954565] in 4.50% APY ... [t:76479488]...</cite> <quote><cite>bkkorps posted...</cite> <quote>they are making you jump though a bunch of extra hoops, aint got time for that crap. </quote> Literally buy 10 $1 gift cards on Amazon for 4.50% APY... Also I verified it is FDIC insured: https://research.fdic.gov/bankfind/detail.html?bank=30698&name=First%20Advantage%20Bank&searchName=FIRST%20ADVANTAGE%20BANK</quote> ... Copied to Clipboard!
IdiotMachine 04/02/18 9:46:57 PM #9:	IdiotMachine posted... chill02 posted... it looks like it's a local bank So? Doesn't say there's a limitation on who can apply. I have Ally bank, so I'm already used to "internet only banking". Trying to apply, and only Tennessee and Kentucky shows up on the states list. Boo... <cite>IdiotMachine posted [p:898954704] in 4.50% APY ... [t:76479488]...</cite> <quote><cite>IdiotMachine posted...</cite> <quote><cite>chill02 posted...</cite> <quote>it looks like it's a local bank</quote> So? Doesn't say there's a limitation on who can apply. I have Ally bank, so I'm already used to "internet only banking".</quote> Trying to apply, and only Tennessee and Kentucky shows up on the states list. Boo...</quote> ... Copied to Clipboard!
CapnMuffin 04/02/18 9:49:11 PM #10:	They probably need to desperately grow their deposit balances because theyre borrowing heavily from the federal reserve (lending more than what they have in reserve). Its cheaper to borrow off a customer than the feds. --- "its okay a lizard ate me and elucidated my fate" - MJ_Max on Dark Souls 3DSFC : 0860-3930-2170 \| NNID : CapnMuffin \| XBGT : Capn Muffin <cite>CapnMuffin posted [p:898954823] in 4.50% APY ... [t:76479488]...</cite> <quote>They probably need to desperately grow their deposit balances because theyre borrowing heavily from the federal reserve (lending more than what they have in reserve). Its cheaper to borrow off a customer than the feds.</quote> ... Copied to Clipboard!
DarkProto05 04/02/18 9:49:57 PM #11:	It's probably not a very popular bank that needs customers. And you have to set up direct deposit to get that rate so the bank gets a constant stream of cash from you. --- Alpha Sapphire FC: 2552 5569 3267 <cite>DarkProto05 posted [p:898954859] in 4.50% APY ... [t:76479488]...</cite> <quote>It's probably not a very popular bank that needs customers. And you have to set up direct deposit to get that rate so the bank gets a constant stream of cash from you.</quote> ... Copied to Clipboard!
Annihilated 04/02/18 10:11:00 PM #12:	The fact that I haven't even heard of this bank being mentioned as a high interest online bank, where all the others were around 1.5%, makes this seem very suspicious. Something about it doesn't smell right to me. <cite>Annihilated posted [p:898956228] in 4.50% APY ... [t:76479488]...</cite> <quote>The fact that I haven't even heard of this bank being mentioned as a high interest online bank, where all the others were around 1.5%, makes this seem very suspicious. Something about it doesn't smell right to me.</quote> ... Copied to Clipboard!
Master_Bass 04/02/18 10:13:07 PM #13:	I've heard of banks having rates like that recently. Usually, they're small credit unions that make you jump through a bunch of hoops like you've listed. --- Many Bothans died to bring you this post. <cite>Master_Bass posted [p:898956367] in 4.50% APY ... [t:76479488]...</cite> <quote>I've heard of banks having rates like that recently. Usually, they're small credit unions that make you jump through a bunch of hoops like you've listed.</quote> ... Copied to Clipboard!
bkkorps 04/02/18 10:16:36 PM #14:	IdiotMachine posted... bkkorps posted... they are making you jump though a bunch of extra hoops, aint got time for that crap. Literally buy 10 $1 gift cards on Amazon for 4.50% APY... Also I verified it is FDIC insured: https://research.fdic.gov/bankfind/detail.html?bank=30698&name=First%20Advantage%20Bank&searchName=FIRST%20ADVANTAGE%20BANK no, its 120 transactions a year. my time is worth a hell of a lot more than that. --- Minnesota is like having sex in The Boundary Waters. ****ing close to Canada. <cite>bkkorps posted [p:898956570] in 4.50% APY ... [t:76479488]...</cite> <quote><cite>IdiotMachine posted...</cite> <quote><cite>bkkorps posted...</cite> <quote>they are making you jump though a bunch of extra hoops, aint got time for that crap. </quote> Literally buy 10 $1 gift cards on Amazon for 4.50% APY... Also I verified it is FDIC insured: https://research.fdic.gov/bankfind/detail.html?bank=30698&name=First%20Advantage%20Bank&searchName=FIRST%20ADVANTAGE%20BANK</quote> no, its 120 transactions a year. my time is worth a hell of a lot more than that.</quote> ... Copied to Clipboard!
IdiotMachine 04/02/18 10:20:16 PM #15:	bkkorps posted... no, its 120 transactions a year. my time is worth a hell of a lot more than that. Takes you what, 5 minutes to do 10 $1 transactions through Amazon? That's 1 hour in a year. $10k at 4.50% APY compounded daily nets you $460 brah. <cite>IdiotMachine posted [p:898956767] in 4.50% APY ... [t:76479488]...</cite> <quote><cite>bkkorps posted...</cite> <quote>no, its 120 transactions a year. my time is worth a hell of a lot more than that.</quote> Takes you what, 5 minutes to do 10 $1 transactions through Amazon? That's 1 hour in a year. $10k at 4.50% APY compounded daily nets you $460 brah.</quote> ... Copied to Clipboard!
Damn_Underscore 04/02/18 10:27:30 PM #16:	If minimum requirements are not met, the entire account balance will earn 0.05% APY and will not receive ATM refunds during that statement cycle. --- Shenmue II = best game of all time Shenmue = 2nd best game of all time <cite>Damn_Underscore posted [p:898957220] in 4.50% APY ... [t:76479488]...</cite> <quote><quote>If minimum requirements are not met, the entire account balance will earn 0.05% APY and will not receive ATM refunds during that statement cycle.</quote></quote> ... Copied to Clipboard!
Damn_Underscore 04/02/18 10:33:22 PM #17:	https://www.doctorofcredit.com/tn-first-advantage-bank-3-04-apy-rewards-checking-balances-10000/ This site says TN and KY only --- Shenmue II = best game of all time Shenmue = 2nd best game of all time <cite>Damn_Underscore posted [p:898957588] in 4.50% APY ... [t:76479488]...</cite> <quote>https://www.doctorofcredit.com/tn-first-advantage-bank-3-04-apy-rewards-checking-balances-10000/ This site says TN and KY only</quote> ... Copied to Clipboard!
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Current Events > 4.50% APY checking account...? What's the catch? (+) Yeah! (+)

Current Events > 4.50% APY checking account...? What's the catch?