My wife and I currently have over $32K in 2 savings accounts. 1 is at Bank of America and earns a pathetic 0.01% interest. Up until last month, we 2/3 of our savings there. My wife had the other third at SunTrust. It was earning the same pathetic savings so I was going to have her close it and move it to BofA. Well, she calls and says they are offering her a savings account with a rate of 0.80% if she stays. Naturally, I say heck yeah and she stays. I noticed decent statements the first few months and was pleased to at least see some interest. Last week, I decided I wanted to move a majority of our savings at BofA to SunTrust because of the rate there. Well, I looked at a statement today and was wondering why the interest earned was so low. The statement said the APY was now 0.03%! So, I did some digging and found they had opened a Money Market Account which is why the rate was higher. That's fine I suppose except why did the rate drop so low?!? She said they told her it wouldn't drop below 0.60%. So, I'm going to be calling them tomorrow to get an explanation but I don't expect much from them which leads me to ask: what's a good place to keep $25K that will earn me some interest?
Submitted July 02, 2017 at 09:23AM by n8inchatt http://ift.tt/2tz53OG
