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I have my personal checking and savings account at a local credit union. If I use my debit card at least 10 times per month, and make electronic payments and a "bill pay" where they have to mail a physical check to someone, I get a much higher interest rate.
10 Debit card payments is a cinch, and I likely do 20 per month. I pay all my utilities electronically and automatically with no further input from me. The last monthly check I had sent out was to ADT, but I fired them and the new alarm company is electronic as well. I get an email from the credit union saying I had no checks mailed and non scheduled, and I would not get the better interest rate.
So I called them to double check. She advised me to set up a once per month check to myself for one dollar, that I will then deposit back into my same account by taking a picture of the front and back of the check. How silly is that? Oh well, I will make them print a paper check, pay the postage to mail it to me, and then deposit right back into the same account. Whatever to keep the high interest rate on my funds.
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Glen
49 Year member of the Porsche Club of America
1985 911 Carrera; 2017 Macan
1986 El Camino with Fuel Injected 350 Crate Engine
My Motto: I will never be too old to have a happy childhood!
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