[William A. Baurle]

Originally Posted by Roger Slater

I'm wondering why you are surprised. When you bought the CD, for example, didn't they tell you what the fixed interest rate would be? And does the interest they paid correspond with that interest rate?

I know interest rates are horribly low (though I suppose the good part is that they are also extremely low for mortgages right now), but when you buy a CD the fixed interest rate is very clear. It is part of the "name" of the product you are buying.

Your CD sounds a bit low. You should have been able to get a 1% CD for a year, which would mean you should have gotten over $40 in interest instead of just $8.

There are banks that have a "no penalty CD" that would allow you to withdraw early without penalty. Currently they pay just a smidge under 1% (I did a quick check before posting).

No, I wasn't surprised, since I did know of the rate. I guess maybe I wanted to see if they would actually go through with it. Sounds crazy, but then I'm a bit crazy. If they were even slightly service oriented, mayn't they have given me a call about sitting with an advisor and seeing about how to go about trading, or reinvestment, or somesuch? Online they have a link or two for such things, but I'm an ignoramus when it comes to numbers. And the "help" pages sound like Greek to me. You literally have to go proactive and go out of your way in order to get anything useful out of a bank. I see that as upsidedown and immoral. After all, they depend on their clients' money, on their customers' investments, for their profits.

The question I ask is this: Do they want to accrue more customers? Do they want to have people invest their money with them? Do they have any interest at all in making their clients happy?

And by clients I mean all clients, not just the filthy rich ones.

[Roger Slater]

I just checked the [bank name removed] rate and found "11 month CD rate 0.15%" -- which is amazingly low, even in today's environment, and would explain your situation. The 1% rate I mentioned before was from Ally. That's a very big difference. It pays to shop around even when it comes to savings accounts and CD's, since there's a big variation in what different banks pay. A lot of "high yield" (laughable term, but everything is relative) savings alternatives are available from online banks like Ally.

PS--Cross posted with your last. So, you thought they would go ahead and pay you more interest than they said they would in the name of customer relations? Really?

[William A. Baurle]

Originally Posted by Roger Slater

I just checked the Dewey Phuquem & Howe CD rate and found "11 month CD rate 0.15%" -- which is amazingly low, even in today's environment, and would explain your situation. The 1% rate I mentioned before was from Ally. That's a very big difference. It pays to shop around even when it comes to savings accounts and CD's, since there's a big variation in what different banks pay. A lot of "high yield" (laughable term, but everything is relative) savings alternatives are available from online banks like Ally.

PS--Cross posted with your last. So, you thought they would go ahead and pay you more interest than they said they would in the name of customer relations? Really?

No, I didn't think they would pay me more interest. I thought perhaps someone might offer to help me with some advice on trading and what not. Yes, I'm hopeful that there are some good people in the world. Call me Lot.

I just checked into this deal my bank calls a "high-yield" savings account. The premium variable rates are:

$0 - $49,999.99 - 0.05%.

Absolutely sickening.

[William A. Baurle]

Roger, would you mind taking the name of my bank out of your post. I think Janice is right, it's not a good idea I give out too much private info here.

Thanks.

[Maryann Corbett]

If you're eligible to join a credit union, look into it. A nonprofit, member-owned credit union is likely to give you a better deal than a bank that has to show a profit to shareholders. I can certainly testify that my credit union gives me better service.

[Janice D. Soderling]

This is the message I got just now on a second attempt.

Williamb has chosen not to receive private messages or may not be allowed to receive private messages. Therefore you may not send your message to him/her.

If you are trying to send this message to multiple recipients, remove Williamb from the recipient list and send the message again.

Maybe you have checked some box that blocks me.

[William A. Baurle]

Well that's the strangest thing, Janice. I just went and reviewed all my options, and I have all the relevant boxes checked. I saved and saved again. I don't have anyone on ignore, and I don't even see that option here.

Maybe an admin can intervene and find out what the trouble is??

[William A. Baurle]

Janice, I think I may have found the problem. I had Williamb as my "aim" name, but I do not use that service at all. I don't know why that box was filled in. Did you try and message me that way?

[Andrew Mandelbaum]

Leave the poor bankers alone William.
When you can't grow or build, heal or craft something, how else is one expected to live like 17th century monarchs if not on the backs of the obliging throngs? Its all they have left.

[William A. Baurle]

Originally Posted by Maryann Corbett

If you're eligible to join a credit union, look into it. A nonprofit, member-owned credit union is likely to give you a better deal than a bank that has to show a profit to shareholders. I can certainly testify that my credit union gives me better service.

Thank you, Maryann, I will look into that.