Posted by William Charles on August 1, 2019
Savings Accounts

Published on August 1st, 2019 | by William Charles

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[CA & AZ] Meriwest Credit Union Premier Savings Account – 3.5% APY On Balances Up To $5,000 – No Requirements

Offer at a glance

  • Interest Rate: 3.5% APY
  • Minimum Balance: $100
  • Maximum Balance: $5,000
  • Availability: Must live, work, worship or attend school in one of the following counties: CA: Santa Clara, Alameda, Contra Costa, San Mateo, San Francisco AZ: Pima
  • Direct deposit required: None
  • Additional requirements: None
  • Hard/soft pull: Mixed DP, make sure to opt out of overdraft
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Insured: NCUA

The Offer

Direct link to offer

  • Meriwest offers the Premier Savings account, this account is only available to sign up for members within 30 days of becoming a new member. The account earns 3.5% APY on balances up to $5,000 with no requirements to receive this rate

The Fine Print

  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

This account has no monthly fees to worry about.

Our Verdict

This might be worth doing for people that sign up for the checking account that comes with a $150 bonus. This is definitely one of the best high yield savings account available as there are no requirements and the 3.5% APY rate is great.

 

 



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CF Panda
CF Panda

Was this reposted due to a change in the terms? I don’t see any updates to this from the older page. Sorry if this is something obvious that I’m just missing.

cars
cars

I think it was initially 3%, now it’s 3.5%.

SF
SF

I had no idea this went up from 3%! I signed up initially when it was 3% on up to $5000 of balances and 2% on the next $5000

cars
cars

I already had this account and thought something was different from the amount of interest I was earning. Also, as a DP, I remember when I opened this with the checking, they allowed $5k cc funding over the phone, only mastercard if I remember correctly. And the checking bonus took three months or so after 3 schvab brokerage transfers.

DK
DK

Wow hmm makes me wonder if you can only do max $500 online but $5,000 over the phone…

I think I saw another DP of someone’s being able to do $5k as well. Any more DPs?

Tegami
Tegami

Able to do $4k with a master card over the phone today.

qmc
qmc

Has this rate stayed typically higher, or is this one of those teasers that will drop to uselessness within a few months… 3.5% vs 2% is not bad …

Lrdx
Lrdx

This account had 3% for years. It was just increased to 3.5% two months ago.

nik
nik

Anyone have any idea about credit card funding to open these accounts?

wraaax
wraaax

just created an account. up to USD 500 credit card funding (+USD 5 membership fee)

Tegami
Tegami

DP: Able to fund 4k with a MasterCard over the phone. The representative said maximum 4k with a cc (used to be 5k from previous DPs).

DK
DK

I just tried to fund with cc over the phone (I’ve found some reps know about cc funding and others have no idea about it) but citi declined the transaction. When chatting with citi, the representative said it was over my cash limit. Did yours code as a purchase?

Tegami
Tegami

Yes it coded as a purchase on my Citi DC card (Services – Mortgage Companies-financial Institution).

DK
DK

Jealous! Any chance you remember the name of the rep who helped you? Maybe he/she has a secret to make it not code as cash advance haha.

Truthsayer
Truthsayer

Anyone who recently opened this, hard or soft pull?

DK
DK

No hard pull for me. I inquired before applying and was asked to thaw Chex and Experian but did not get notice of an Experian hard pull, so they must have done a soft inquiry.

Nik
Nik

This was a hard pull. The back office person wanted to do a hard pull to verify my identity. I offered to go into the branch with DL to prove identity and it was not enough.

It’s possible that it is under their discretion.

Tegami
Tegami

No hard pull in my case. I wasn’t asked for any identity verification either. Seems YMMV.

jt
jt

Mastercard only (no Visa) for CC funding up to $505 (500 + 5 member fee)
When applying they want to verify by phone – if you don’t have access to the phone, they do a Chex verification.

strykker31
strykker31

That’s strange they allowed me up to $5k funding with a cc.

DK
DK

strykker31 Was this over the phone?

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