The financial gurus like Clark Kent, Suzy Orman, and my own thinking is toward local institutions including Credit Unions with good ratings. Why do business with someone that doesn't do a good job on their own? Check the institution's rating http://www.bankrate.com/rates/safe-sound/bank-ratings-search.aspx At the moment we are considering moving from a local bank that we have been doing business with for some years. A few years ago, the got bought out when the owner retired. The new owner, although has handled our accounts OK, was rumored that they were looking to sell out, and the new owner would close branches. They only have a 1 star out of 5 rating. We have available several local institutions with much better ratings. A local credit union where we have a mastercard through has called from the local office several times with issues with the card, they were looking out for our welfare. :) Funny NYPD wrote: > That's something I don't quite understand. > One thing I want to do is: moving most of my personal cash to large banks with local branches, such as Wells Fargo, BOA, etc. They may have low interest rate, but they do have local branch. > > Are they "too big to fail"? > > Funny N. > Au Group Electronics, http://www.AuElectronics.com > http://www.AuElectronics.com/products > http://augroups.blogspot.com/ > > > > > ________________________________ > From: Lucas > To: Microcontroller discussion list - Public. > Sent: Sun, December 6, 2009 11:56:28 AM > Subject: RE: [OT]Amtrust Bank was closed yesterday. > > I agree that they offer the highest interest rates, ING in Canada offers a > 3% interest savings account, tax free interest on the first $5,000 deposited > annually called the Tax Free Savings Account. > > Other banks such as Bank of Montreal, TD, CIBC, Scotia , etc. offer these > accounts as well and the interest rates vary from 1% to 2% as well, which > are quite high as well. Some higher than Amtrust or Emigrant. > > Does that also mean that these banks could be on the verge of collapse as > well? > > -----Original Message----- > From: piclist-bounces@mit.edu [mailto:piclist-bounces@mit.edu] On Behalf Of > Funny NYPD > Sent: December 5, 2009 8:33 PM > To: Microcontroller discussion list - Public. > Subject: Re: [OT]Amtrust Bank was closed yesterday. > > those are the three most popular bank offer very high interest rate > (compare with regular bank, such as BOA) through online banking service. > > Amtrust has a "Amtrust Direct" online banking service, which is similiar to > ING Direct and Emigrant direct service. > > By the way, Amtrust has been the fourth largest bank being shut down by FDIC > since the beginning of this year. > > Funny N. > Au Group Electronics, http://www.AuElectronics.com > http://www.AuElectronics.com/products > http://augroups.blogspot.com/ > > > > > ________________________________ > From: Lucas > To: Microcontroller discussion list - Public. > Sent: Sat, December 5, 2009 7:56:20 PM > Subject: RE: [OT]Amtrust Bank was closed yesterday. > > I don't think you can put ING Direct in the same league as AmTrust and > Emigrant direct. ING Direct is multi national (in 40 countries), AmTrust > has/had branches located in 6? states and Emigrant which is the largest bank > in New York, but has no branches anywhere else. > > > -----Original Message----- > From: piclist-bounces@mit.edu [mailto:piclist-bounces@mit.edu] On Behalf Of > Funny NYPD > Sent: December 5, 2009 8:36 AM > To: piclist@mit.edu > Subject: [OT]Amtrust Bank was closed yesterday. > > Regulators shut AmTrust Bank in Ohio, 5 others, for more news, please refer > to: > http://apnews.excite.com/article/20091205/D9CCUQUO0.html > http://www.fdic.gov/news/news/press/2009/pr09222.html > > Amtrust has been on the bank market for many years, and it is famous for > high deposit interest rate. Check it out if you got deposit in this bank. > > Not sure for the future of other "High deposite interest rate banks", such > as ING Direct, Emigrant direct, etc. > > Funny N. > Au Group Electronics, http://www.AuElectronics.com > http://www.AuElectronics.com/products > http://augroups.blogspot.com/ > > > > > -- > http://www.piclist.com PIC/SX FAQ & list archive View/change your membership > options at http://mailman.mit.edu/mailman/listinfo/piclist > > -- > http://www.piclist.com PIC/SX FAQ & list archive View/change your membership > options at http://mailman.mit.edu/mailman/listinfo/piclist > > > > > -- http://www.piclist.com PIC/SX FAQ & list archive View/change your membership options at http://mailman.mit.edu/mailman/listinfo/piclist