PDA

View Full Version : Whats the catch?


Petro-Sooner
9/15/2008, 07:46 PM
So I have the cc and the small student loan paid off!!! I'm now sacking money away for my first home. I'm wondering, where should I put this money so in the spring when I buy I will have a larger down payment that what I would if I just sat on it at my current banks checking account. A coworker tells me about Legacy Bank in OKC that they use. Claims if you open up a checking account, activate there online bank system and use their check card twelve times a month, I will earn 4% a month in interest. My bank offers nothing that close in any type of savings account. So I sign up. If this is legit then why are other banks not offering this? Also, how can they do this? How do they make money and still offer such a thing? What am I not seeing. Yank my cash out torrow? What gives? Seems to be the best option for a short term plan. Banking types ideas and thoughts?
StoopTroup
9/15/2008, 07:49 PM
That sounds better than any deal I know about.

What about a toaster?
Petro-Sooner
9/15/2008, 07:51 PM
That sounds better than any deal I know about.

What about a toaster?

No dice........But the ladies working there were cute.
olevetonahill
9/15/2008, 07:51 PM
6 Month Govt Bond .
tommieharris91
9/15/2008, 07:58 PM
6 Month Govt Bond .

Doesn't beat inflation right now.

Petro, are you talking about a money market account?
Petro-Sooner
9/15/2008, 07:59 PM
straight up checking account.
olevetonahill
9/15/2008, 08:01 PM
Doesn't beat inflation right now.

Petro, are you talking about a money market account?

Just a sugestion
I keep Mine In a Mason Jar looks Like this ;)
http://i.cnn.net/cnn/2004/US/South/01/10/moonshine.resurgence.ap/story.moonshine.jpg
CK Sooner
9/15/2008, 08:02 PM
Just a sugestion
I keep Mine In a Mason Jar looks Like this ;)
http://i.cnn.net/cnn/2004/US/South/01/10/moonshine.resurgence.ap/story.moonshine.jpg

:mad: :mad: :mad:
olevetonahill
9/15/2008, 09:59 PM
:mad: :mad: :mad:

Jealous ?
You can have the Pickled eggs :P
CK Sooner
9/15/2008, 10:00 PM
Jealous ?
You can have the Pickled eggs :P

Heh.

:mad:
OUHOMER
9/16/2008, 05:05 AM
OVJ and pickled eggs. Damn i bet that house of yours would explode if you farted to close to the stove
StoopTroup
9/16/2008, 05:09 AM
OVJ and pickled eggs. Damn i bet that house of yours would explode if you farted to close to the stove

heh. :pop:
olevetonahill
9/16/2008, 06:16 AM
OVJ and pickled eggs. Damn i bet that house of yours would explode if you farted to close to the stove

Maybe thats what I heard yesterday ?:eek:
Hamhock
9/16/2008, 07:44 AM
I use HSBC for liquid stuff. they have a great online rate.

your deal sounds good. are there any fees associated with the debit card or online access?
SoonerJack
9/16/2008, 07:50 AM
and HSBC would be?????
Hamhock
9/16/2008, 08:09 AM
and HSBC would be?????

its the name of a bank. HSBC bank. 3.25% apy.

i also like bankrate.com they list the yields for a few different products all over the country.
Petro-Sooner
9/16/2008, 05:54 PM
I use HSBC for liquid stuff. they have a great online rate.

your deal sounds good. are there any fees associated with the debit card or online access?

No fees as far as I can tell. Only thing is if you dont use the check card 12 times a month you dont get the 4%.