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Just also consider the likelihood that market rates on everything are likely to keep rising in the near term, so you may do just as well leaving your money liquid in a money market or t-bills. I personally don’t want to tie up money for even 3 months while the Fed is raising rates.


There are a lot of CD’s out there offering 4%+ right now and iBonds are paying close to 10%. For a 1% bonus payout, I’m not sure that moving funds over is really worth that effort, with current opportunity costs. You may come out a little ahead, but with some hassle, and potentially at the risk of future opportunities and adding another 1099.


which bank would offer 4%+ on CD?


Who cares Wait ..$$


Will this work wih automatic paycheck deposits?


Do it for the bonus

Greg Z

Sorry for the newbie question – could I open an account now and still get the bonus?


$50k gets you $500??? Uhm no thanks.


I think u have to pay taxes on that SO Buy a T-bill and V Bernie ..ALOHA
Go online look at the rates only Go higher like 12%..No hassle no need to switch around and u can use to buy Tickets ..

Last edited 5 months ago by Cavedweller
Li Myles

Note that Federal Income taxes are due on T Bills, but not state and local income taxes, which may considerable in some locations.


Been looking I’m hoping I can just transfer from Ameritade to this account not thru my bank.I’ve done very little this year but 5% on the whole account So ?????
My uncle in 1981/ got 18% on a 1 year bill…

Last edited 5 months ago by Cavedweller
Mist Soalar

I would jump on this too, but I wish I had emptied my ally account before this promo comes in. They said any external withdrawal (even from non-eligible ally checking account) subtracts the qualified fund.


You can move money out from your account to another bank and then route it to P2 account if you have

Mist Soalar

yes I did. any outbound transaction would count against funding already.

I learned from the similar promo from SoFi back in September. My $50k gross inbound (and balance during the term) only counted $24k net.


Good Post as in the way it really works..I did a lot of CD’s in 2006 a real hassle.. Every time u do this Stuff the IRS looks at anything over $10K and 87K more clowns are coming onboard ..Safe but a future nightmare so Flip a Card and be done with it..
Thank You for Posting..

Last edited 5 months ago by Cavedweller
Mary Jane

Great article, I don’t know if anyone has mentioned this but BOA is now offering $1,000 for deposit of $250,000 but it includes IRAs, CDs and MMs in the total amount.


isn’t that only for preferred rewards member or everyone? if it’s everyone do you happen to have a link?

Mary Jane

I just walked in and saw the sign. I am new w/BOA but I believe anybody can sign up for preferred rewards but the amount you deposit (in almost any form) determines your reward level.