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cm
cm (@guest_1810083)
March 7, 2024 23:19

Does anyone have a recommendation for an ideal hub account? It seems to me that so many tend to hold money to verify it for too long such as Fidelity CMA.

I use Discover as my main banking account, but they also hold money for several days before making it available, which is annoying and slows me down.

Jason_08
Jason_08 (@guest_1808748)
March 6, 2024 01:38

Anyone been having Schwab issues lately? I cannot even add any new accounts anymore, without me calling in and them telling me I have to manually fill out a form and send/fax it in.

Same with my P2/P3 accounts.

Looks like I may be looking into finding another hub account.

sparky
sparky (@guest_1795133)
February 8, 2024 15:21

BTW, Bread Savings is also the Comenity ‘Bread’ Capital Bank 5.15% HYS account.

sparky
sparky (@guest_1795100)
February 8, 2024 14:36

For Bread Savings: NO 6x per month withdrawal. So it look like you can move lots of money around per month like a hub account should.

There is a 10 day hold on new deposits under 30 days and after 30 days the hold is reduced to 5 days.

Your daily outbound transfer limit is $5,000 per day. You may make up to 4 outbound transfers in a day with the sum of the transfers not exceeding $5,000. [You can also call Customer Service to increase this limit].

Your daily inbound transfer limit is $1,000,000 and you may make up to 2 transfers in a day with the sum of the transfers not to exceed the assigned limit.

Please let me know if you have any additional questions or if I can be of any further assistance. Thank you for choosing Bread Savings.

Sincerely,

Bread Savings Customer Care

PaulinTexas
PaulinTexas (@guest_1795168)
February 8, 2024 16:13

Sparky – IMO, Not a good candidate for a Hub account due to the $5K daily outbound limit/4 transfers per day & the 5 day hold on inbound deposits. They’ll let you deposit a lot, but you’d have to use another external account, with high transfer limits, to get your money out.

sparky
sparky (@guest_1795286)
February 8, 2024 18:47

When I called, Bread Savings said a few times that you could call and increase the (outbound) limit with Customer Service.

G
G (@guest_1793571)
February 5, 2024 19:51

Has anyone else with an Amex business checking account been denied adding any accounts? I even removed all 5 and I am not able to add any new ones. I don’t know if I hit an internal limit. Everytime I added a new one I would remove one. Now I can’t add anymore anyways. Strange

Jack
Jack (@guest_1793766)
February 6, 2024 07:04
  G

Hi G. Don’t panic. That account is known for having some glitches here and there in their early days. Try again in a couple days and see if it would work. In the meantime, what other hubs can you use? G

D
D (@guest_1792354)
February 4, 2024 00:38

I’m new to this terminology so I didn’t realize the limits are for transfers initiated by the bank.

Robert coots
Robert coots (@guest_1775458)
January 10, 2024 22:57

hello i would like some advice about what bank to get, i am a small business, and all the time my local credit union returns all direct deposits that are not in my name, and i try to make them understand that i am a vendor and i receive payments in the whole state, please i need a reliable bank for for business that will accept all direct deposit made to my account

Cindy
Cindy (@guest_1774433)
January 9, 2024 14:45

DP Hancock Whitney Acc Limit is 20*only restriction is that there can only be two pending external accounts being set up at a time.
Per call with customer service.

Gadget - Bank Bonus Geek 🔗
Gadget - Bank Bonus Geek 🔗 (@guest_1766202)
December 27, 2023 22:03

Ally Savings Account (pre-COVID) used to restrict to 6 transfers per statement cycle.

Starting during COVID, they were allowing more than 6 transfers, but would charge $10, and refund it next day. That was an issue if you had less than $10 and picked up an overdraft.

Now the Ally Online Banking says:

About the Transaction Limit

  • We limit certain types of withdrawals and transfers from Savings and Money Market Accounts to 10 per statement cycle. Depending on your account type, these limited transactions include things like Online and Mobile Banking transfers (between Ally Bank accounts or to a third party), Overdraft Transfer Service, checks, and point-of-sale transactions (such as debit card purchases).
  • Transfers from Ally Bank accounts to Ally Invest accounts won’t be limited, and neither will deposits or ATM withdrawals. You can also call us at any time to request a check made out to you.
  • We don’t charge a fee for going over the limit. However, we’ll close your account if you exceed it on more than an occasional basis. We’ll notify you when you’ve gone over the limit.

I found that last paragraph interesting. I like to use my Ally Savings account as a hub and going to be ditching the Ally Checking account. I occasionally exceeded 6 in the COVID past, but 10 should be enough for me.

Money Monarch
Money Monarch (@guest_1747996)
November 29, 2023 20:45

Great website! I’m using fidelity as my hub. Some problems linking, but phone support is great. Just linked 7th account, phone rep confirmed no limit on number of linked accts. Also confirmed $250,000 in, $100,000 out limit s. Two other features I like. First, it pays variable interest, pushing 5% right now. Second fid has a feature allowing external accounts and credit cards to be linked, showing balances alongside fid accounts.

Shirley
Shirley (@guest_1748015)
November 29, 2023 21:23

I agree, been really pleased with Fidelity. I especially like that they push and pull fast, sometimes the same day if the transfer is setup early in the day.

I recently pushed into Chase and it was there in a couple hours, same with pulls from BofA and Wells Fargo, both showing in my Fidelity account in a couple hours (earning interest on that money from that time I hope).

Tela
Tela (@guest_1749417)
December 1, 2023 21:03

Just wondering how you are getting 5%?

JD
JD (@guest_1749626)
December 2, 2023 09:05

The default cash settlement fund for brokerage accounts is SPAXX which is at 5% right now.

Jack
Jack (@guest_1760164)
December 17, 2023 16:17

Tela, DoC posted Fidelity SPAXX as an Alternative High-Yield Option on the main High Yield post. Also, did you miss an “s”? Tela
https://www.doctorofcredit.com/high-interest-savings-to-get/#Alternative_High-Yield_Options

tela
tela (@guest_1811151)
March 9, 2024 13:55

thanks for the link and no I haven’t missed ‘s’. but they used it after adding “s”. 🤣