@atikovi Nope…you always have to call in and request it (although they have no issues automatically dropping your rate when rates go down). At least for now they aren’t requiring an additional deposit in order to get the rate increase. In times past, I’ve had to deposit additional funds in order to get the new rate.

@jtownsucks46 I’ve moved my money out of SalemFive Direct because they do not increase the interest rate for existing customers without a hassle. Only new accounts get the improved rate. For existing accounts, you can contact them and they will offer to match the current rate if you deposit some amount (varies) of additional funds. You have to repeat this for every rate increase you want to take advantage of (and they might limit how often you can do so…not sure about that). I tired of the hassle so moved into other banks that may have a slightly lower rate currently but automatically give the new rate whenever it increases.