The WTDirect savings account is geared towards the investor who has $10,000 or more to invest. In exchange, the bank offers higher interest rates and exceptional customer service.
We’ve all seen online banks advertise great deals on saving account interest rates. The banks offer an extremely attractive interest rate, but in many cases, the offer is only valid up to a certain balance limit. Any deposited funds that exceed the balance limit earn a significantly lower interest rate than the higher advertised rate. So what do you do when you have higher amounts to invest but want liquidity? WTDirect offers a solution.
WTDirect has a personal savings account geared towards higher balances of $10,000 or more. The current APY offered is 1.21%, and they advertise that their savings account rate is consistently in the top 5% of banks. Balances under $10,000 earn a mere 0.15%, so this account definitely isn’t for people who want to invest lower limits. However, the bank will honor the 1.21% interest rate on any account balance for the first 60 days, to give customers a chance to try their service before they commit to a large deposit.
In addition to the higher interest rate on higher balances, the main benefit of WTDirect is their commitment to superior customer service. The company’s website states “WTDirect is not for everyone. Our Personal Online Savings Account is designed for savers in control of their finances who insist upon higher standards.”The bank provides a more flexible savings account and greater personal service in exchange for higher balances. As part of their pledge for higher customer service, the company boasts they have live representatives answer calls 7 days a week. Additionally, there are no fees for the account, no minimum deposit required to open an account, it offers free mobile banking, and an unlimited number of transfer links to other bank accounts.
WTDirect, a division of Wilmington Trust FSB, launched in 2006, but Wilmington Trust Company has been around since 1903, providing a variety of banking and financial services in over 80 countries.
TD Bank offers customers several perks for opening a new account, including double rewards, a 0% intro APR, and an extra cash bonus.
TD Bank’s Easy Rewards Visa Credit Card has been offering double reward points and a 0% APR for 6 months for new account holders for awhile, but now they’re also offering a way for new account holders to earn an additional $50 bonus. For a limited time, you can earn additional $25 when you make a balance transfer of $1,500 or more in the first 30 days of the account. You can also earn another $25 when you add authorized users to your account in the first 30 days as well.
Even without the additional $50 bonus, this credit card still offer is still very competitive. There is no annual fee for the card, it offers unlimited rewards, and after the introductory double reward point period, you earn 1 point for every $1 spent with no blackout dates, restrictions or fees. Points can be redeemed for airfare, hotel rooms, car rentals, merchandise and gift cards. The APR after introductory 0% rate can be as low as 13.24%, if you have great credit.
TD Bank, “America’s Most Convenient Bank”, is one of the 15 largest banks in the U.S. with over a thousand retail stores in the Northeast, Mid-Atlantic, Metro DC area and Florida.
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US Bank's S.T.A.R.T program rewards savers with $50 for the first $1,000 saved, and another $50 if they're able maintain a $1,000 savings balance for a year.
It’s hard to set aside money for an emergency fund, especially during tough economic times. US Bank has a program that offers financial incentive for savers and rewards customers obtaining and maintaining a $1,000 savings account balance.
The bank’s S.T.A.R.T program works by requiring monthly saving account transfers via either specified monthly reoccurring transfers, or set transferred amounts per each US Bank Check Card or Credit Card. Once you reach $1,000 in your savings account, US Bank will reward you with a $50 US Bank Rewards Visa Card. After you maintain that $1,000 minimum balance for a year, US bank will give you another $50 Rewards Card. Additionally, you can chose to automatically transfer any cash rewards received through the US Bank FlexPerks Cash Rewards card into your savings account to accelerate savings.
To take advantage of this program, you must open and maintain a US Bank package, which includes a checking account and a money market savings account. A minimum of $50 is required to open a checking account, and a minimum of $25 is required to open a savings. Of course, you must also maintain the qualifying transfer schedule for the rewards as well.
US Bank Rewards programs can be added to any checking account. The FlexPerks Cash Rewards Check Card gives Gold Package customers 0.25% cash back on all non-PIN based purchases, and the FlexPerks Cash Rewards Credit Card gives all customers 1% cash back, with Gold Package customers receiving an additional 0.25% (for a total of 1.25%). Gold packages are free if you have direct deposit, AutoPay or AutoInvest. Otherwise, it will cost you $6 a month. Basic silver packages have no monthly fees.
The interest rates for the savings account vary by region and are minimal overall (0.05% APY for money market balances up to $999 and 0.10% APY for $1,000-$9,999 balances for account holders in the Boston area). As such, this account wouldn’t be ideal for someone who is already a disciplined saver, but the program could help someone who needs that extra boost to get started.
