@atikovi I need to move some money & do that. I was trying to transfer from my regular checking & they charge a fee for ACH transfers to outside banks. It’s doable, but it will take a little work. Just wish Kabbage would raise the $6K transfer limit. I hate having to jump through hoops.

@atikovi So maybe opening deposit isn’t limited? LMK if you do another transfer & if it’s limited to $6K. I sent them an email to see if they’d raise it.

@atikovi Interesting. I must have been lucky. Opening deposit has cleared. ACH transfers in & out allowed. No fees. I’m happy. Only hitch is $6,000 per day max & you can’t schedule future transfers. So that’s kind of a pain if you want to transfer in a larger amount. Guess you could write a check & do a mobile deposit. I haven’t tried it yet, though.

@atikovi I didn’t have to do that. I applied as a sole proprietor under my name & SSN. Nothing further needed. My opening deposit is still pending, so I can’t see if I’ll be able to do ACH transfers out or if I’ll have to write a check. I just hope they don’t drop the interest rate right away.

@platypus Should have noted “business” checking

Kabbage checking paying 1.1% on balances up to $100K. Wonder how long that rate will last?
https://www.kabbage.com/checking/

Paramount checking is now .75%. One thing I’ve encountered with them is that incoming external transfers are limited to $5K per day. I can’t deal with such low limits. I’ll be looking for alternatives. Will Zynlo allow multiple accounts?

@jtownsucks46 Yes, here’s the email:

We hope that you and those for whom you care are safe and well.

Snow that covered much of the country is melting! Spring is coming! Vaccines are available!

Okay, that’s the good news. Unfortunately, your Ascent Money Market Savings Account rate is going down.

But just a little.

So, we are writing to tell you that effective March 16, 2021, we will be reducing the Ascent Money Market Savings rate from 0.75% to 0.60% APY*.

Merchants Bank will no longer originate external transfers from other banks. They told me I would have to originate it at the sending bank. That doesn’t work for me, as my bank charges a fee for ACH transfers. So while they’re still paying 0.75%, I’m going to look elsewhere to avoid the fees.

Customers Bank Ascent MM interest down to 0.60% per email received 3/9/21