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jarod (@guest_1829256)
April 11, 2024 00:55

Did a push from Schwab on 3/26: Rate has still stayed at 4%. Wondering if Schwab isn’t working anymore for DD?

Racoonzel (@guest_1829259)
April 11, 2024 01:06

3/26 was still the current statement. It closes on 15th of each month. Your rate should convert into 6% on 4/16.
This statement cycle I did also only Schwab, so it should be still 6% after 4/15 for me. Well, if not, then Schwab really is not working any more.

Eric 🔗
Eric 🔗 (@guest_1819913)
March 26, 2024 10:47

I just applied for an account and during the application process, I was asked if within the last 12 months any FI had “involuntarily” closed my checking account.

I don’t recall ever being asked that question before. If WGU applied for this same account, they would have to either answer “yes” or commit fraud by answering “no”.

I just wanted to send this as a PSA to everyone to advise you not to go overboard on any activities to give yourself a better chance of keeping all of your accounts in “good standing”.

Indie (@guest_1821949)
March 28, 2024 22:54

I didn’t get that question. Do you recall at which step you got that ?
My application went under review by the way.
Did you get instant approval ?

Eric 🔗
Eric 🔗 (@guest_1822096)
March 29, 2024 07:02


I just reread my comment and can see how you misunderstood it. I meant that I applied for an account with another FI (Blaze) and that question appeared on the application. I ended up being declined for Chex after I wrote that comment or maybe even while I was writing the comment.

I put the comment in this post instead of the Blaze post for 2 reasons. The main reason is because this is where I saw the comment from WGU. The other reason is I figured that many more people are subscribed to this post than the Blaze post.

It seems that no one really cared about my PSA so I guess I wasted my time.

Indie (@guest_1822250)
March 29, 2024 10:59

Thanks for clarifying that.
You got accepted into Primis or declined ?
I got rejected with reason “Your application did not pass our digital banking customer due diligence and has been rejected”.
Not sure if this actually means rejection was due to Chex or is it an identity issue.

Eric 🔗
Eric 🔗 (@guest_1822690)
March 29, 2024 18:48

I have never applied for a Primis account.

WGU (@guest_1818762)
March 23, 2024 08:14

P1-P4 accounts shutdown this morning.

MS heavy first 45-50 days. We got emails on each account that we would be shutdown if we continued. All accounts stopped immediately.

Primis paid out (Twice) after the statement.

I should have just went all out if a shutdown was coming anyway.

On to the next….

PennyPincher (@guest_1818778)
March 23, 2024 09:52

Honest curiosity: how do you MS a checking account?

David (@guest_1818942)
March 23, 2024 18:25

@WGU answered that below. He was essentially automating $0.01 transactions through PayPal to generate income since the Primis Perks account has a debit card that gives you a 50 cent credit per debit card transaction that is not an ATM transaction. The assumption is that @WGU was making hundreds of dollars through these synthetic transactions, and multiplied that by the 4 separate accounts he has to generate a small income stream, but to be shut by the bank for abusing the intent of the program.

David (@guest_1818854)
March 23, 2024 13:44

How exactly are you MSing these?

Eric 🔗
Eric 🔗 (@guest_1818859)
March 23, 2024 13:59


I was going to ask the same question earlier when I saw that comment. Before doing so, I scrolled down through several comments and ironically found your comment below, which appears to give a clue into what WGU probably did.

BTW, good job using a gravatar, making it very easy to find your tag.

David (@guest_1818864)
March 23, 2024 14:07

If I had to venture a guess, the account probably was used to deposit money order types checks that were purchased at Walmart or the like. Given the amount of fraud Primis had to go through just a few months ago, I don’t think they would be tolerant of these types of repetitive check deposits into their accounts.

Eric 🔗
Eric 🔗 (@guest_1818869)
March 23, 2024 14:16

If your guess is correct, then WGU greatly mischaracterized what they did by writing that they did “MS heavy” with Primis. Simply depositing MO is not really “MS”.

Purchasing the gc and then buying MO with the gc is the “MS” part of the scheme and none of that had anything to do with Primis.

Eric 🔗
Eric 🔗 (@guest_1818873)
March 23, 2024 14:19

Also, WGU wrote “I should have just went all out if a shutdown was coming anyway.”.

Does that really sound like simply depositing MO to you?

WGU (@guest_1818871)
March 23, 2024 14:17


WGU (@guest_1818868)
March 23, 2024 14:16

Debit card is .50 per transaction Cashback.
Used Paypal script thats on the Paypal post on here for automated .01 transactions.

David (@guest_1818874)
March 23, 2024 14:19

But how many transactions were you doing? Even if you did 100 transactions, that was just $50 of cashback. Was it really worth that hassle? 😛

Eric 🔗
Eric 🔗 (@guest_1818876)
March 23, 2024 14:22

I am 99% sure that WGU did a lot more than 100 transactions. BTW, you made almost the exact same comment last year about 100 transactions receiving $50. You greatly underestimate what people are willing to do.

David (@guest_1818880)
March 23, 2024 14:25

I mean, I would be surprised that PayPal didn’t shut this down faster than the bank itself lol.

WGU (@guest_1818879)
March 23, 2024 14:25

It’s automated. Set it and forget it.

David (@guest_1818885)
March 23, 2024 14:42

I noticed that for their Perks account, they do not report the Cashback on the 1099-INT, and that the amount is treated like cashback similar to a credit card and hence it is not taxed.

Even if the bank itself was not concerned about the activity itself, they probably might be concerned about running afoul of IRS rules since now the “cashback” is more than your actual cost basis, which would necessitate the bank to report the cashback as actual income.

Not sure how much you got per se, but I wouldn’t be surprised if they end up sending you a 1099-MISC or tacking it on your 1099-INT as interest/income received.

Planned Parenthood
Planned Parenthood (@guest_1815472)
March 17, 2024 17:27

can the debit card be used for MS?

S (@guest_1815379)
March 17, 2024 14:59

is there a direct link to the account type that is offering the 6%? when i search ‘novus’ on their site, their direct deposit page comes up and they mention primus novus, but i don’t see the novus account type available anywhere and their checking/savings are only showing up as 5.07% apy

S (@guest_1815387)
March 17, 2024 15:03

google did have this one but the account type doesn’t seem to be promoted/linked to on their site and the effective date of the rate offer is from november 2023. i’m a bit wary the offer’s still going :/

Racoonzel (@guest_1815635)
March 18, 2024 00:36

It’s still going as I opened my Novus account and the rate was 4% APY. I made DD/deposits and now after statement closing date (which is on 15th of each month) the rate shows 6% APY.

PaulinTexas (@guest_1815401)
March 17, 2024 15:14

Christopher Robin Here’s the link: Web Portal ( You do have to look for it. I found it by looking at their checking accounts. S

Christopher Robin
Christopher Robin (@guest_1815429)
March 17, 2024 16:07

PaulinTexas You may have tagged the wrong person. I don’t have a recollection of this one.

PaulinTexas (@guest_1815436)
March 17, 2024 16:18

Christopher Robin Sorry about that…

Taylor (@guest_1815365)
March 17, 2024 14:36

I’d just go with Poppy at 5.5% and not have the hassle.

Tikky 🔗
Tikky 🔗 (@guest_1815346)
March 17, 2024 14:10

Comparatively, isn’t the Upgrade Savings offer better than this for the same $50k deposit? You could even do their Checking bonus first to further maximize the return. Looking out for depositors that have fewer resources to move around that want less requirements with referral opportunity.

PaulinTexas (@guest_1815357)
March 17, 2024 14:23

Tikky Yes, Upgrade is a better offer & I would do that 1st if it was a choice between the two…but you have to act fast as the Upgrade offer currently ends on 3/31/2024.

I hope folks appreciate you looking out for them :).

AdoptaPetInstead (@guest_1817689)
March 21, 2024 07:10

Shoot you’re right that is a better offer at the same $50k

Hi thanks
Hi thanks (@guest_1815337)
March 17, 2024 13:59

Avoid this bad bank.

S (@guest_1824154)
April 1, 2024 18:32

what’s bad about it/what was your experience with them?

Eric 🔗
Eric 🔗 (@guest_1815317)
March 17, 2024 13:35


You wrote in the update that the account “Requires deposit of $1200 within 60 days of opening. A monthly $1,200+ DD“. Is it “deposit” or “DD” as that makes a big difference?

PaulinTexas (@guest_1815326)
March 17, 2024 13:43

Eric It is a direct deposit.

Eric 🔗
Eric 🔗 (@guest_1815331)
March 17, 2024 13:46


That’s what I figured. I think I recall seeing you make a comment either here or in another post that Schwab worked for you, correct? I’m wondering if basically anything works like with what used to work for Laurel.

BTW, I noticed that  Chuck wrote “keep the 6% boost” in the update also. Is this “boost” only for a certain amount of time? If so, it might not even be worth the Chex inquiry.

PaulinTexas (@guest_1815335)
March 17, 2024 13:58

Eric They don’t specify what qualifies as a DD, just that once it’s validated you will get the 6% boost (next statement cycle). I used Schwab, but any deposit may work.

This is a 6-month only promotion, starting after your 1st DD is validated. No Chex inquiry for existing customers, but I did get a Chex inquiry when I opened up my savings account on 2/1/2023.

My DPs for opening the account are below:

Eric 🔗
Eric 🔗 (@guest_1815343)
March 17, 2024 14:08

I’m not a Primis customer so there would be a Chex inquiry for me. I’ll probably pass for now as it’s basically a 6% 6 month CD. I passed on Securityplus (a few times) for a similar reason. Thank you for the details though.

Dan (@guest_1815287)
March 17, 2024 12:15

Not worth the hassle. Can get similar rate for a t-bill without having to deal with a shit bank.

Mikey (@guest_1815341)
March 17, 2024 14:03

That’s strong language with an equally bold assertion,

I’ve been monitoring and reporting on weekly T-bill rates for almost two years.

Please specifically note the issue date and term for the one you claim pays 6%.

Eric 🔗
Eric 🔗 (@guest_1815344)
March 17, 2024 14:09

In which post do you report the weekly rates? I’d like to subscribe to it.

Mikey (@guest_1815502)
March 17, 2024 18:30
Eric 🔗
Eric 🔗 (@guest_1815543)
March 17, 2024 20:17

I am aware of that site that lists the rates. You wrote “I’ve been monitoring and reporting on weekly T-bill rates for almost two years.”

Reporting where?

Jeff (@guest_1815350)
March 17, 2024 14:17

If you live in a high state tax state then the T bill is equivalent to near 6% due to no state tax.