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Countrywide Bank Savingslink vs. ING Direct [Archive] - DVD Talk Forum
 
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View Full Version : Countrywide Bank Savingslink vs. ING Direct


Aphex Twin
05-07-08, 07:32 PM
I've only used ING Direct's savings account and see that Countrywide's Savingslink has a full 1% additional APY rate on ING's. Anyone use Savingslink? How does it compare to ING?

Or would you recommend a completely different online savings account? I would like one that is 100% liquid.

innocentfreak
05-07-08, 08:19 PM
I have been using Countrywide for a while now and have been happy. I would recommend you check the fatwallet finance forums. They have threads dedicated to all the banks.

atari2600
05-08-08, 03:15 AM
i might check that out too - kind of depressing to watch my interest rate on my ING account go down every month, especially since the economy/real estate market sucks so bad too...

Duran
05-08-08, 07:58 AM
Countrywide has been fine for me. Given it the troubles with mortgages, however, I wouldn't put more than the FDIC insured limit in there.

Heat
05-08-08, 09:49 AM
How much money are you talking about? And when you say "liquid", how liquid do you need it to be? That is, if you get the money back in a couple days, is that liquid enough?

4KRG
05-08-08, 09:55 AM
I think this is the best Money Market type account right now

http://www.indymac.com/Individuals/Banking/page.asp?pSection=pdEMMRate

only a $1000 min

countrywide wants a $10k min now to get the best rate.

but this seems to change weekly at just about every one :)

Venusian
05-08-08, 09:57 AM
What are Excess Transactions that CW charges for?

orangecrush
05-08-08, 10:11 AM
What are Excess Transactions that CW charges for?
more than one withdrawal a year ;)

Aphex Twin
05-08-08, 04:36 PM
How much money are you talking about? And when you say "liquid", how liquid do you need it to be? That is, if you get the money back in a couple days, is that liquid enough?

Yes, a couple of days is liquid enough. I just don't want it to be tied up for a month or more, having a penalty to withdraw. Do they seriously only allow 1 withdrawal per year or was that a joke? I don't recall reading that.

Are there any worries at all with Countrywide's solvency? The reason I didn't consider Indymac was their financial problems. Should these be concerns at all for a depositor?

orangecrush
05-08-08, 05:15 PM
Yes, a couple of days is liquid enough. I just don't want it to be tied up for a month or more, having a penalty to withdraw. Do they seriously only allow 1 withdrawal per year or was that a joke? I don't recall reading that.

Are there any worries at all with Countrywide's solvency? The reason I didn't consider Indymac was their financial problems. Should these be concerns at all for a depositor?
The one 1 withdrawal per year was a joke (hense the ;) ) You shouldn't worry about the solvency of the institution as long as the account is FDIC insured and you have < $100K in there.