My Personal Finance Journey

Personal finance observation, musing and decisions in a journey toward financial independence by 2020 with at least $3 million.


By Topics

Overall:
0. About (10)
1. My Progress (139)
2. Car & Home (107)
3. Credit (138)
4. Banking (33)
5. Saving (49)
6. Investing (308)
7. Taxes (89)
8. Spending (74)
9. Misc (97)
A. Archive (49)



MONTHLY ARCHIVE

Feb 2014 (3)
Jan 2014 (6)
Jan 2012 (1)
Apr 2011 (1)
Mar 2011 (1)
Feb 2011 (1)
Jan 2011 (1)
Dec 2010 (1)
Oct 2010 (1)
Sep 2010 (1)
Aug 2010 (1)
Jul 2010 (1)
Jun 2010 (1)
May 2010 (1)
Apr 2010 (1)
Mar 2010 (6)
Feb 2010 (2)
Jan 2010 (7)
Dec 2009 (3)
Feb 2009 (4)
Jan 2009 (8)
Dec 2008 (1)
Jun 2008 (2)
May 2008 (2)
Apr 2008 (5)
Feb 2008 (3)
Jan 2008 (15)
Dec 2007 (32)
Nov 2007 (6)
Oct 2007 (8)
Sep 2007 (9)
Aug 2007 (24)
Jul 2007 (2)
Jun 2007 (1)
May 2007 (3)
Apr 2007 (4)
Mar 2007 (4)
Feb 2007 (13)
Jan 2007 (6)
Dec 2006 (3)
Nov 2006 (7)
Oct 2006 (7)
Sep 2006 (6)
Aug 2006 (4)
Jul 2006 (10)
Jun 2006 (1)
May 2006 (3)
Apr 2006 (2)
Mar 2006 (6)
Feb 2006 (6)
Jan 2006 (3)
Dec 2005 (1)
Nov 2005 (9)
Oct 2005 (8)
Sep 2005 (13)
Aug 2005 (25)
Jul 2005 (16)
Jun 2005 (17)
May 2005 (19)
Apr 2005 (20)
Mar 2005 (24)
Feb 2005 (23)
Jan 2005 (36)
Dec 2004 (40)
Nov 2004 (34)
Oct 2004 (17)
Sep 2004 (21)
Aug 2004 (59)
Jul 2004 (37)
Jun 2004 (31)
May 2004 (29)
Apr 2004 (52)
Mar 2004 (49)
Feb 2004 (49)
Jan 2004 (31)
Dec 2003 (48)
Nov 2003 (52)
Oct 2003 (29)
Sep 2003 (8)
Aug 2003 (5)
Jul 2003 (2)
Jun 2003 (2)
May 2003 (5)
Apr 2003 (2)
Mar 2003 (2)
Feb 2003 (3)
Jan 2003 (29)



 

Opening eMoney Market Account at VirtualBank (CFI)

Contributed by mm | January 28, 2004 1:37 PM PST

I'm opening an eMoney Market account at VirtualBank today.

The move is mostly triggered by the deteriorating competitiveness of NetBank Money Market account. I have been parking my free cash in NetBank account since November 2002, and for the most of the period, NetBank used to offer very competitive rates. However, yesterday I checked out NetBank, the APY on the Money Market account is only 1.80%. (That actually becomes a highlight in NetBank's most recent earning release: "[i]mprovement in the bank's net interest spread to 175 basis points (bps), an increase of 21 bps from the previous quarter.")

Bankrate.com pointed me to VirtualBank, which offers an eMoney Market account paying 2.15% APY. The 35 basis points difference is not much, but still amounts to more than $50 considering my average balance expectations for the next 12 months. (I will record this as a CFI initiative for 2004.)

Plus, unlike NetBank which does not have ACH transaction interface (and forces me to use Datek as an intermediary to transfer funds across different banks), VirtualBank offers free ACH transaction, which will make my actions to sweep funds to money market account easier.

[8/3/04] If you would like to open a VirtualBank account, please take a look at this referral deal. We can both come $20 ahead if you give me an email before applying to VirtualBank. Thanks!

This Post Has Received 2 Comments. Share Your Opinions Too.


Kumar Commented on March 30, 2005

respected sir,

I want to open my personal account in your bank beacouse my money is blocked in forign please you open to me account in free.


monique Commented on April 20, 2006

can you refer me so we can both get the $$ thanks


Add Your Comments










Remember personal information?




(It will take a few moments for your comment to be published. Please do not close the window until then.)


Read More ... 76 Posts In The Same Category










This page was last rebuilt at February 09, 2014 08:35 AM PST. (226 Words)
 

RSS FEED





PERSONAL FINANCE BLOGS I READ

Consumerism Commentary
Get Rich Slowly
My Money Blog
All Financial Matters
The Simple Dollar






.



Copyright 2003-2014, PFBlog.com. All Rights Reserved. (Privacy Policy)