FDIC Creates New Online Tool for Customers of Failed Banks

The FDIC has reacted to the increased pace of bank failures this summer by creating a tool which allows customers of a failed bank to determine their insurance status within one business day of the bank closure.

From the FDIC website:

“This tool allows failed bank customers the ability to verify whether their account is fully insured [...]

Virtual Bank Increases Rates on Money Market Accounts, Savings Accounts, and CDs

Virtual Bank is division of Lydian Private Bank which has been operating as an “internet-only” bank for over 5 years. Without branch overhead VirtualBank has been able to consistently pay some of the top rates on their deposit products. VirtualBank increased rates this week with the following rates available to online banking customers:

eMoney Market Accounts [...]

Banks and Credit Unions Paying Higher Interest Rates

CD Rates, Money Market Rates, Savings Rates, and Checking Rates have all increased this week with 4%, 5%, and even 6% rates available from FDIC-insured banks. Unique rate deals this week include:
10.00% APY from Shore Bank on their Grand Slam checking account for balances from $.01 to $1,000. Must live in eligible county in Maryland [...]

Predictions on Bank Failures

Intrade is a prediction market website where visitors can trade on the likelihood on the outcome of current events in the areas of politics, economics, finance, entertainment, weather, and more. Members buy contracts with real money with a price of 100 indicated the “event” occurred and a price of 0 indicating the event did not [...]

6.00% APY from National City Bank

National City Bank is offering a limited-time offer of 6.00% APY on a 5-year CD for customers in Ohio and Missouri. The minimum deposit on the account is $10,000 and the offer runs until August 9th, 2008. The offer is not available through the National City Bank website, but can be found by calling 800-347-5626 [...]

Zopa Borrowers with 0.00% Loan Rates?

Zopa US is offering the closest thing to a win-win proposition for borrowers and lenders who use their social lending site. Borrowers are able to lower their interest rates on personal loans by using a personal profile and social networking tools like e-mail, blogs, Facebook, and MySpace to get help on her loan from lenders. [...]

North Carolina Bank is a True Online Bank

NewDominion Bank is an example of a true online bank - no branches and no branch overhead to pass on to customers. Countless banks claim to be an online bank, but are actually just divisions of large multi-branch and multi-state banks. These banks have the high costs associated with their branch operations that an online [...]

Deals from American Airlines, Continental Airlines, Delta Air Lines, Northwest Airlines, US Airways, and United Airlines on your Boarding Passes

Starting today six major airlines are testing the concept of adding content to the drudgery of an airline boarding pass. An independent company, Sojern Inc., will provide the information to airline passengers who use online check-in and print their boarding passes. Delta will be the first to offer the deals and offers to online customers [...]

FDIC Update on IndyMac Bank

The blame game is in full force after Friday’s late news that IndyMac Bank was being closed by the FDIC. Bush administration officials have blamed Senator Schumer, Schumer has blamed IndyMac executives, and regulators are blaming the media for misrepresenting the story. Today the FDIC released a statement regarding the media frezy in an effort [...]

6.00% Checking Yields for Online Banking Customers

Reward checking accounts have been one of the fastest growing bank products of 2008 with several hundred banks now offering some incentive-based checking account. Each bank has it’s own unique rewards and requirements, but they all require that the banking customer utilize some online banking services to earn the highest-tier yield. Consumers who do not [...]

Cash Bonuses, Rates, and Deals from PNC Bank, Earthstar Bank, EverBank, and E-Loan Bank

PNC Bank is offering a $100 cash bonus which can earned in one of two ways:
(1) Sign up and maintain a qualifying direct deposit on your new personal checking account
(2) Open up a $100 business checking account and sign up for online banking
Accounts at PNC Bank earn less than 1%, but feature free transactions at [...]

Achieving Savings Goals with SmartyPig

The list of highest yielding bank savings accounts includes an entry for SmartPig. Since SmartyPig does not sound like a bank, what exactly is it? SmartyPig is for savers who are working to meet a specific savings goal. After a savings goals is established SmartyPig can set up an automatic debit from your existing checking [...]

4th of July Bank CD and Money Market Rate Specials from EverBank, US Bank and IndyMac Bank

Three major American banks are in the giving mood on the nation’s 232nd birthday with rate specials on CDs and money markets:
US Bank
5.00% APY on their 59-month CD, $100 minimum deposit
4.00% APY on their 25-month term CD, $100 minimum deposit
EverBank
4.65% APY on their money market account, intro-APY guaranteed for 90 days, $1,500 minimum
IndyMac Bank
4.00% APY [...]

National City Bank’s Reward Program for Checking Accounts

National City Bank has one of the most ambitious reward programs with Points from National City. National City Bank checking customers with a National City VISA CheckCard can enroll to receive rewards from major retailers like Walt Disney World, Sony, Apple, Bose, Home Depot, Macy’s, Lowe’s as well as cash rewards on their VISA checkcard. [...]

Smaller Local Banks Offering Loan Rates, Money Market Rates, CD Rates Online

The banks with the biggest presence on the internet like Countrywide Bank, IndyMac Bank, E-Loan Bank, and Bank of Internet (to name a few) make applying online for bank account a very simple process which can take less than ten minutes. Typically, the account and rate is reserved once the online application is completed and [...]

Where to Find 5.00% Bank Rates?

The list of best bank deposit rates at the beginning of 2008 was topped by Countrywide Bank and One United Bank both offering savings accounts with yields over 5.00%. After a quick and substantial march down in rates (following large rate cuts by the Federal Reserve) bank rates have started to increase again in the [...]