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Unless my eyes are failing which is possible, Bankrate listed a 1 year CD at Charter One Bank with an 3.4-something APY for part of a day last week.

The rate changed to 3.25 APY by the time I called. Charter One is FDIC insured and has 450 branches in Illinois, Massachusetts, Michigan, New York, Ohio, and Vermont. I suppose they are as safe as anywhere. Despite overwhelming call-in response, the guy on the phone was efficient and nice. The certificates arrived within a week by mail. The only down side is I am not sure from the booklet they sent what the early withdrawal penalty is for this type of CD and I don't care about that in this case. I am happy and lucky to have what I got.

Charter One's Bankrate rating changed from three arrows to unrated "U" since then, and the APY dropped to 2.90. I guess the lesson in this story is that Bankrate's CD listings can change fast, both up and down.

http://www.bankrate.com/brm/rate/high_home.asp
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PandT,

Wow -- not even a member for a month, and you are contributing sooooooo much material to TMF!!!! Some people are here for longer periods of time and say little to nothing (myself included, these days).

Another board that deals with online banks has proclaimed ING Direct as their "Bank of the Month". You seem rather knowledgeable, so what's your take on ING??

Just sign me...

SouthJerseyJim

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PandT,

My eyes must be failing me as you have been onboard since September 2001, not 2002.

My apologies -- good post material, anyway!

SJJ
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Thanks for the compliment, SJJ. I don't know anything about ING except that their 1 year CD rates dropped from Bankrate's 1st place last week down to about 6th and then down again to out of the top 25 rates today. What board gave them that award? I'd like to read about that.

Anything I say that makes sense comes from reading jbking, Lokicious, lorenzo, hackshark, Ayco, and the other people at TMF. The mistakes are mine. Sorry if I post too much. That comes from paying !@#$%^&* $29.00 a year.
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I have found my new tag line.

UKBB <Sorry if I post too much. That comes from paying !@#$%^&* $29.00 a year>
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