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Old 12-29-2015, 07:48 AM
 
Location: Charleston, SC
1,367 posts, read 769,637 times
Reputation: 2428

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Just to close the loop here -- I found exactly what I need from the Barclay's Bank website. Their Dream Savings offers all the features I want, and none of the excessive "Debit Card Transactions" or "ATM Usage" requirements. If you can take advantage of that offering, the payout is close to the 3 year CD rate.....without locking up the money for 36 months.

Thanks again to all.
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Old 12-29-2015, 10:42 AM
 
7,803 posts, read 4,399,284 times
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I opened several long-term CDs in online banks because those offered locally paid no more than a standard checking account (basically nothing), but I wouldn't go long-distance for checking. Just keep the bare minimum you need in it to cover your bills. The rest should be in some sort of higher-yield savings plan anyway.
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Old 12-29-2015, 02:02 PM
 
1,075 posts, read 1,119,284 times
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Quote:
Originally Posted by FiveLoaves View Post
Just to close the loop here -- I found exactly what I need from the Barclay's Bank website. Their Dream Savings offers all the features I want, and none of the excessive "Debit Card Transactions" or "ATM Usage" requirements. If you can take advantage of that offering, the payout is close to the 3 year CD rate.....without locking up the money for 36 months.

Thanks again to all.
It states that you have to make a monthly deposit of $1,000 or less and no withdrawals to get the bonus rate. That's good if you can follow those rules.
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Old 12-29-2015, 02:57 PM
 
Location: Charleston, SC
1,367 posts, read 769,637 times
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donna --

That's exactly how I plan to use it. I'll still use my local TD for monthly bill paying, but the Barclays will serve as a good holding spot, without tying up in a CD. When my RMD's start, I can park them there in January and not need them until July.
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