Is this a legit bank? Anyone try their MM account? It's currently at 1.5%
https://redneck.bank/mega-money-market/
Seems like a great place to start sending spare change
Thanks
Any experience with Redneck Money Market? (1.5%)
- sunny_socal
- Posts: 2732
- Joined: Tue Mar 24, 2015 4:22 pm
Re: Any experience with Redneck Money Market? (1.5%)
I have not used them, but yes it is legit. You could also check out Discover, at 1.3%
https://www.discover.com/online-banking ... s-account/
https://www.discover.com/online-banking ... s-account/
Re: Any experience with Redneck Money Market? (1.5%)
Forgot to mention, if you are planning on having more than $35k in the account, then Discover will be more appealing. This is because the Redneck account only gives 0.5% apr above $35k.
Re: Any experience with Redneck Money Market? (1.5%)
Had it for a number of years without any problems. Once upon a time it paid 3%. Eventually it drifted down to about 1% and is now back up to 1.5%. Balances above 35k only pay 0.5%. Personally, I use it primarily to autopay off CC bills and replenish it every few months.
Re: Any experience with Redneck Money Market? (1.5%)
Am I the only one who feels more comfortable with a bank name like "First Federal Trust and Reserve" instead of "Joe's Bank"?
"Hi, I'm Joe! I own a bank!"
"Hi, I'm Joe! I own a bank!"
Re: Any experience with Redneck Money Market? (1.5%)
What's yer problem with Redneck bank, partner? That's where bankin's funner.
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- Posts: 18501
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Re: Any experience with Redneck Money Market? (1.5%)
Eye bin wit Redneck Bank for maybe a year. Heard about it right here an the Bugle Heads online forum. Eye reely like the 1.5% they give me. I keep exactly $35k there and every 20th of the month yank out the interest. It's like they just give me money every month.
If you don't like the crazyness of the website, then go ahead and say "no" to more money, but I think more money is funner.
If you don't like the crazyness of the website, then go ahead and say "no" to more money, but I think more money is funner.
Bogle: Smart Beta is stupid
- triceratop
- Posts: 5838
- Joined: Tue Aug 04, 2015 8:20 pm
- Location: la la land
Re: Any experience with Redneck Money Market? (1.5%)
Judgin' Faynanshul institutions based on the name and not the FDIC protection (not on the MM but the 2% savings account); seems like a Bee-Hay-vorial err.
"To play the stock market is to play musical chairs under the chord progression of a bid-ask spread."