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View Poll Results: what is better a money market fund, a CD or a savings account for our emergency fund??
a money market fund 5 20.83%
a CD 6 25.00%
a savings account 6 25.00%
other 7 29.17%
Voters: 24. You may not vote on this poll

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Old 03-10-2009, 01:25 PM
 
1,227 posts, read 2,057,777 times
Reputation: 1023

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Quote:
Originally Posted by suzie02 View Post
We have Wamu now and I already started to see changes. The other day I was transferring money from savings to checking when I saw a new message on the screen. After 6 transfers there is a fee. I expect this number to go down. The number of NSF waived fees allowed has already dropped from 2 to 1. Wamu was great while it lasted but Chase is not for us.
Darn, I did not know that!! I'll watch out for that, thanks. I really dislike Chase.
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Old 03-10-2009, 03:31 PM
 
823 posts, read 2,209,566 times
Reputation: 425
Quote:
Originally Posted by suzie02 View Post
We have Wamu now and I already started to see changes. The other day I was transferring money from savings to checking when I saw a new message on the screen. After 6 transfers there is a fee. I expect this number to go down. The number of NSF waived fees allowed has already dropped from 2 to 1. Wamu was great while it lasted but Chase is not for us.
The 6 transfers out of a savings acct per statement cycle is a federal law and has always been in place. WaMu just never mentioned it. I went over once, pre-Chase, and just got a warning. I never did it again but I believe the punishment is that you lose all of the interest for that period.
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Old 03-10-2009, 04:03 PM
 
960 posts, read 1,155,698 times
Reputation: 195
That's my understanding too. I don't have much risk of exceeding those limits.
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Old 03-10-2009, 04:04 PM
 
Location: Sacramento
2,568 posts, read 6,730,635 times
Reputation: 1933
Quote:
Originally Posted by PeteyNice View Post
The 6 transfers out of a savings acct per statement cycle is a federal law and has always been in place. WaMu just never mentioned it. I went over once, pre-Chase, and just got a warning. I never did it again but I believe the punishment is that you lose all of the interest for that period.
Interesting. Thanks for letting me know. Chase does say the will charge a fee if that happens. So Wamu was nicer.


To all the posts about credit unions. We always had credit union accounts. The problem is that every time we moved we had to change our accounts. Wamu was our first bank and we hoped it was going to be our bank for a long time. ING had the mortgage for our last house so we have some history with them and they have good customer service over the phone. I do not like having to go into the branches because I usually have 2 kids in tow. I love drive though but they do not seem that popular in CA.
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Old 03-11-2009, 01:01 PM
 
Location: Houston, Texas
10,447 posts, read 49,524,546 times
Reputation: 10614
For those of you who never suffered loss from a bank I suspect you will choose one of the 3 silly answers. For those who have suffered loss do to unregulated uninsured internet fraud I suspect you will choose your mattress as being the safest place.
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Old 03-11-2009, 01:04 PM
 
Location: Glendale, az
37 posts, read 168,363 times
Reputation: 33
I can hold on to it for you
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Old 03-11-2009, 09:11 PM
 
Location: Warwick, RI
5,428 posts, read 6,190,456 times
Reputation: 9314
I reccomend FNBO Direct savings at 2.15%. I also use ING, but my emergency money is getting the better rate at FNBO. Great customer service, no minimums or fees, FDIC insured, and an ATM / Debit card for quick access to the account if needed. Good luck!
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Old 03-12-2009, 12:10 PM
 
Location: state of enlightenment
2,403 posts, read 5,224,086 times
Reputation: 2500
Short term treasury bills. Your main concern now should be safety and liquidity not appreciation.
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