I have $50,000 in my wells fargo checking account and not using it for a few months. Should i move it into?

Question

a wells fargo savings account earning 1.65% APY or should i open a wamu checking with a savings account earning 3.30% APY. I am hesitating because with wells fargo, i can just transfer the fund from checking to savings easily and dont know if i can do the same with wamu.

Answer 1

move it to a ING savings account or CD. or if ur feelign adventurous start looking at the stock market. and dont base ur investments solely off the economy, thats a dumb move, the economy moves in a cycle it moves down then up again so dont be scared to invest and dont be DUMB AND LET ALL THAT MONEY SIT IN THE BANK!!!

Answer 2

These are things you need to check out with the bank before you move anything. And in most cases banks that pay high interest rates usually have fees associated with them.

Big banks did not get big because they give their money away.

-tcw

Answer 3

okay goodfor u i guess

Answer 4

you could transfer some to me...lol...

but seriously, i'd keep it in wells fargo...the economy is eroding and banks are going out of buiness left and right...wells fargo is one of the oldest banking organizations in the us...i'd just be a little more confident in keeping my money in a bank that is much more established...and honestly, the wamu guy kinda gives me ther creeps...

Answer 5

Must be nice. I have $99 in my checking account right now and I have a horrible job. Quit flaunting your money.

Answer 6

call a banker and see what they can offer you at WF, for that ammount I believe you can get it into a Preferred Rate Savings account. Its an account they offer only to customers who have a checking accoutn with them already, the min opening deposit is $10k. The interest rate is better and it will stay liquid. You do not have to keep the $10k in there after the opening deposit is made. Also, go for a CD on some of the funds, with that ammount of money they should be able to offer you something that is comparable to other banks with similar accounts.

Answer 7

just ck w/ wamu on the rules but if not using it for a while move it to where u get the most back

Answer 8

Either put in a high yield savings or a 3 to 6 month CD. If you go for the CD, get (3) $10,000 (2) $5,000 (5) $1,000 / and keep $5,000 in the savings for emergency.