I'm near the finish line in getting all of my bank accounts straightened out.
My Wachovia account is finally squared away. It's completely hands-free. All I have to do now is just close the account some time late 2010 when the 5% saving program ends.
My PerkStreet account is set up, but will need to see it in motion to confirm that everything is working as it should. I've re-routed $1000 a month to it, and because it earns 1% cash back on purchases, I'm going to use it to pay off as much of my bills and expenses as possible.
My current credit union account is now my primary savings account. I need 12 transactions per month to maintain 3% APY. So, I will do that and then switch off to my credit card and PerkStreet.
If it works out as advertised, I will probably keep PerkStreet for as long as they give 1% cash back. I don't have any incentive to keep Wachovia, so I will likely close that when their savings program is over.
Banking final update
December 24th, 2009 at 01:40 pm
December 24th, 2009 at 03:48 pm 1261669683
December 24th, 2009 at 04:03 pm 1261670628
Wachovia will only allow $100 per month to transfer into their savings program. (They also have this thing where every purchase is rounded up to the nearest dollar, and the difference is placed in there, but that's negligible to me.)
My credit union has no such limits... unless I somehow exceed $50k, which sadly, I'm in no danger of doing.
December 24th, 2009 at 04:14 pm 1261671289
December 24th, 2009 at 04:34 pm 1261672475
They require you to be a member of an affiliated company or organization. I don't remember the details, but I recall one non-profit organization that anyone can join for $10, which will then get you into CFCU.
The 3% APY is for a checking account, so the money is completely liquid. The eligible maximum for the 3% is $50k, and you must make at least 12 transactions per month with the check card.
December 25th, 2009 at 11:12 pm 1261782777
Jerry
December 26th, 2009 at 01:40 am 1261791656
December 28th, 2009 at 04:49 pm 1262018985
December 29th, 2009 at 05:40 am 1262065253
But they also have a nice online website where you can do most of your banking there. Except for the occasional checks, I almost never go to their branches actually.