Presidential Online Checking now pays 3.25% APY
Presidential Bank now pays 3.25% APY for balances up to $25,000 in their Internet Checking Plus account. To get this rate and avoid fees, you must open with $1,500, maintain a minimum balance of $1,000, and direct deposit at least $200 a month into the account. There are no opening bonuses that I am aware of. If you can meet the above criteria, this would be a good alternative to Emigrant Direct, ING Direct, or similar.
I have this account, and I have been really happy with it. The service is pretty good, if you need to get them on the phone it’s usually little or no hold times. This way, I can write checks, get cash out of ATMs, use free online Bill Pay, and not have any transaction limitations with my money. I still use other banks due to the $25k cap they impose and varying interest rates.
Find more in Deals & Offers | 5/4/05, 7:20am | Trackback
May 4th, 2005 at 7:39 am
Looks great, but I think you cant download bank data with quicken. Killer for me.
There is also CapitalOne money market account at
3.15 APY. Allows for 6 checks per month. Minimum only $100.
May 4th, 2005 at 11:05 am
You’re right in that it doesn’t download in Quicken 2005 (see post here). You can work around it by downloading it as a credit card in Quicken 2005, but it won’t work for 2006. I see that as Quicken’s fault though, not Prez Bank’s.
Presidential Bank’s website looks a bit hokey, I agree. It also caused me to wait a while before jumping in, but after doing so I haven’t regretted it. It simply works, and that’s what I want. They have a good history of offering competitive rates and good service.