New Dominion Direct Online Savings Account Rates
March 25, 2010 by · Leave a Comment
New Dominion Bank has been providing all financial services with great customer service to the area of Charlotte, North Carolina since 2005. While still a relative newcomer to the banking scene, they have managed to expand their business a great deal and be awarded an A rating with the Better Business Bureau.
In that time they have also founded their online banking branch of New Dominion Direct, which specialized in personal and business online savings, checking, CD, and Money Market accounts. The New Dominion Direct online savings account rates are definitely competitive for the online market and look to remain that way for quite awhile.
The current annual interest percentage earned for New Dominion Direct online savings accounts is at a 1.50%. The minimum deposit amount in order to open the account is $1,500, and a $1,000 daily balance must be maintained.
If the balance falls below $1,000 the account will still continue to earn interest however a $10 maintenance charge will be applied to the account, which negates the interest you have earned anyway. The interest for this online savings account is compounded daily, which will earn you the most interest possible for your money.
However, don’t get concerned if you don’t see daily interest payments. While the interest is calculated daily it will only be paid to the account once a month.
Direct deposit is available with the New Dominion Direct online savings account, so if you want to set aside a portion of your paycheck every month to that account then you have the ability to do so. Online and ATM access to your access are free and give you unlimited, 24/7 access to your funds.
With this account you do get three free withdrawals per month. Any withdrawals over three will each be charged a $5 fee. This account does have several fees that can limit the amount of interest you actually make, and this should be taken into account before you open an account.
However, if you plan to have a savings account that you add funds to and otherwise leave completely alone then this account could be very advantageous for you. The rates are very good and can be significantly higher than other accounts that have no fees.
Amboy Direct Online Savings Account Rates
March 22, 2010 by · Leave a Comment
The main service branch of Amboy Direct has been headquartered in New Jersey since they were established in 1888. Based on over 120 years of banking experience they founded Amboy Direct as their Internet banking service back in 2003.
Customer service is a top priority for the company, and with their 12th consecutive year of being named the best bank in New Jersey they appear to be succeeding. But not only can you expect good customer service with this bank but the Amboy Direct online savings account rates cannot be beat by many.
The current annual percentage yield paid for Amboy Direct online savings accounts is an even 1.00%. This is a consistent rate that is earned by any online savings account and will not be changed simply because your balance has changed. There is a minimum opening deposit of $1,000 and you will earn the same interest rate as someone with $100,000.
Once you make an opening deposit it will begin accruing interest after the amount has been in the account for one business day, and that amount will not be available to be withdrawn for seven business days. While the same interest rate is earned no matter what the balance, it is necessary to note that if the balance falls under $300 then no interest will be earned on the account.
There are also no fees or costs to transfer funds so you can earn even more interest by saving that money every month. Should you choose to use an Amboy checking account for those transfer they are usually complete within 1-2 business days.
It’s important to keep in mind since you are opening the account online Amboy Direct will require that the initial deposit is made from an Amboy Direct checking account. After the initial deposit then you can make free online transfers from any account that you wish.
The initial deposit is a safety issue so they want to make sure they can verify the source, once this is done then you can manage the money any way you see fit. You also have access to your account 24/7 online, which gives you further control over your funds.
