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SV
SV (@guest_1798775)
February 16, 2024 15:16

I was informed that if you are a member and want to open a new checking account that you could freeze your ChexSystem and they would still open it for you. They still have the 5% checking account good for a year and also have 8 month CD @ 5.50%

SV
SV (@guest_1723845)
October 26, 2023 16:01

I was informed today that Elements Financial High Yield Savings will remain/continue at 4.25%. It appears that those that have it will not have to do anything to keep it at that rate. I know it’s less then most other places but super easy to to move $$ in and out, pay bills etc. No limit on transactions per month. If you have that account you should still verify as it shows rate expires on 10/31/2023. They do have 8 & 13 month CD’s at 5.30%.

SV
SV (@guest_1657862)
July 21, 2023 16:30

The good about Elements—5% guaranteed for a year, pretty easy to move $$$ I’ve been moving 20K a day (10K by 2 5K transactions from P1 and 2 from P2. This has been from the savings account to external acct. Moved over 60K in a week. The bad–the 5% expires and once it expires you have no other choice but to close the account or accept the low interest rate of 2%. The 4.25 savings account has no strings attached and is super easy to use for ACH transfers and payments. Just not high enough interest but guaranteed until 10/31. Still stuck in the 4% checking & closing this month.
With other savings accounts over the 5% and no qualifications –you have to decide if the checking account is worth it to you.

Bulba
Bulba (@guest_1627083)
June 1, 2023 04:27

I have 15 recurring withdrawals every month to get the rate and it’s been working automatically ok every month BUT I just noticed that 10 of them didn’t work for May just who knows why… and all 15 scheduled for June already.. will call them today and if they can’t readjust rate for the previous month I’ll just cash out. So be careful.

Megan
Megan (@guest_1631380)
June 8, 2023 21:59

I also had 15 ACH withdrawals in May and 0% APY on that statement. Wondering if it is an error.

Bulba
Bulba (@guest_1631811)
June 9, 2023 16:42

I emailed them and they readjusted my rate immediately

Erin
Erin (@guest_1616529)
May 11, 2023 14:16

Just FYI. I chatted with CSR. I will be considered as a new customer in 180 days after checking is closed. Savings can be opened. Marcus gives more than 4% now.

asteroid
asteroid (@guest_1616540)
May 11, 2023 14:36

You actually can easily get more than 5% at Marcus with referral and AARP now..

SV
SV (@guest_1621971)
May 22, 2023 11:37

Hate the 180 day wait after closing the account. So stupid to have to close the account and then open another one. What a waste of time and $$$. I do really like Element and have closed account for P2 and still have P1 open at 4% and using the savings account to get 4.25% but still well below what can be earned somewhere else. They do offer CD’s at 5%. Currently looking for another bank that offers higher checking interest along with higher savings account interest so $$$ can be moved back and forth easily. Currently taking advantage of the $150 bonus from Discover, $525 bonus at Wells Fargo, 6% checking at Origin, 5% CD at Navy Federal so any other suggestions would be appreciated—Banks that are easy to move $$$. I have no complaints about Element other then being forced to close accounts to get a higher interest rate.

notavai
notavai (@guest_1611399)
May 3, 2023 19:22

Has anyone opened this account for an LLC using an EIN?

Erin
Erin (@guest_1609586)
May 1, 2023 17:07

Guys, I want to move all my money out of this 4% account. What is the minimum balance for this account? Do you close the account? Are there any fees?

Gadget - Bank Bonus Geek 🔗
May 1, 2023 19:37

Min Bal… $0 (or, $5 if it’s your membership share account)
You can close it if you want.
No fees.

Bulba
Bulba (@guest_1579200)
March 17, 2023 15:35

Has anyone tried to do ACH withdrawals? Is there a minimum amount ( planning to do 50cent each), and is it only ach pulls out of another bank? Or a push will work too? And can I do ach withdrawals to/ from helium savings? (inside elements)

Kaching
Kaching (@guest_1579214)
March 17, 2023 15:48

I have been doing ACH pushes from my Elements checking account in the amount of $0.01 each out to my Barclays savings account. It’s easy to set it to run automatically. I can’t speak to Helium savings since I don’t have that.

Bulba
Bulba (@guest_1579228)
March 17, 2023 15:57

Thanks!!!! I was thinking to do pushes to my chase or primis.

SV
SV (@guest_1586528)
March 28, 2023 11:00

I would say no to the withdrawals from/to Helium savings per requirements of ACH. Only the following are qualifying transactions: Debit card purchases, checks, bill payments, ATM withdrawals and ACH withdrawals. No other transactions qualify. Have you looked into converting your Helium to the High Yield savings account? I set up CC payments from CC website. I usually set them up a month in advance and do them out of Chase or Discover. I have everything set up for April. I’m stuck in the 4% checking so it’s better for me to keep most of my $$$ in the High Yield Savings account. Will probably open another account at a bank offering 5% or more.

SV
SV (@guest_1578955)
March 17, 2023 10:22

Update for Element Financial–the savings account is 4.25% APY. If you have more then 2500 in an account (maybe just savings–not sure) you must bring 25K of new $$$ in and they will convert your current savings account without having to open up a new one. I was able to do a pull and push from outside banks to get the $$$ in there and wrote checks to deposit back to the accounts I did the pull from on the same day the $$$ cleared so there shouldn’t be any loss of time or interest on my Origin 6% account. Evidently they go back 90 days to track what was pulled out to make sure that this is new money. Not sure if that’s actual or they just said it. One advantage is the interest is locked Until Oct 31st and didn’t have to go through the hassle of opening up another account. If P2 wasn’t on the account as joint–the account could have been opened up in P2 name without the 25K. Makes sense to try and convert savings accounts or set up a new one if your stuck in the 4% checking as there are NO requirements. Closing at least 1 of the checking accounts to start the time clock again for opening another one in the future.

Mike
Mike (@guest_1576480)
March 13, 2023 22:01

I was charged 5 USD for maintenance service charge on Feb 28

Gadget - Bank Bonus Geek 🔗
March 13, 2023 23:03

Likely a paper statement fee. Turn ’em off and contact them for a one-time fee waiver.

Mike
Mike (@guest_1599682)
April 17, 2023 16:03

Thank you very much