Anyone know anything about California Bank and Trust?

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Abe
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Anyone know anything about California Bank and Trust?

Post by Abe » Tue Oct 08, 2019 10:13 am

I was Googling CD rates and found California Bank and Trust, but I don't know anything about them. Their CD rates are above average and they say are FDIC insured. Here is a link to their CD rates. https://www.californiabandt.com.scam/

rates as of October 8, 2019
This is their current 12 Months CD rate - No Penalty
3.00%APR-3.04%APY Minimum Deposit $200,000-Maturity $206,090.65 No fees-No penalty.

[Link mangled by mod oldcomputerguy - this is likely a link to a scam site, not the real California Bank & Trust website, see below.]
Slow and steady wins the race.

Gill
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Re: Anyone know anything about California Bank and Trust?

Post by Gill » Tue Oct 08, 2019 10:21 am

I checked the FDIC Website and it shows this bank is covered.
Gill
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123
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Re: Anyone know anything about California Bank and Trust?

Post by 123 » Tue Oct 08, 2019 10:56 am

They have a number of brick and mortar branches around the state of California, including a couple which I have traveled by on the way to work for years.
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Abe
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Re: Anyone know anything about California Bank and Trust?

Post by Abe » Tue Oct 08, 2019 11:58 am

I'm interested in their 12 month Super Jumbo, No Penalty, No Fees, $1,000,000 CD paying 3.35% APR, 3.40 APY. Does anyone know if we can get FDIC Insurance covering that amount? It's just the wife and me.
Slow and steady wins the race.

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HueyLD
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Re: Anyone know anything about California Bank and Trust?

Post by HueyLD » Tue Oct 08, 2019 12:09 pm

If you have four POD beneficiaries, you can get up to $1MM of FDIC coverage.

https://edie.fdic.gov/calculator.html

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Abe
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Re: Anyone know anything about California Bank and Trust?

Post by Abe » Tue Oct 08, 2019 2:53 pm

Okay, thanks everyone for the information.
Slow and steady wins the race.

Saver21
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Re: Anyone know anything about California Bank and Trust?

Post by Saver21 » Tue Oct 08, 2019 8:27 pm

This looks like a scam to me, would love others thoughts.
The site link of the actual bank is https://www.calbanktrust.com/

I am guessing it’s a scam given that the fake site is very bare bones and has typos all over the place

Gill
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Re: Anyone know anything about California Bank and Trust?

Post by Gill » Tue Oct 08, 2019 8:52 pm

Saver21 wrote:
Tue Oct 08, 2019 8:27 pm
This looks like a scam to me, would love others thoughts.
The site link of the actual bank is https://www.calbanktrust.com/

I am guessing it’s a scam given that the fake site is very bare bones and has typos all over the place
I think you’re on to something. Looks like a scam to me.
Gill
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dphilipps
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Re: Fake website for California Bank and Trust

Post by dphilipps » Wed Oct 09, 2019 5:54 am

My friend, do not WORRY, these all your funds are fully insured by the honarable & majestic, Crown PRINCE of Nigeria.

californiabandt.com was registered last week. Non-standard language and misspellings. Clearly a scam.

The real bank's web site is https://www.calbanktrust.com.

stan1
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Re: Anyone know anything about California Bank and Trust?

Post by stan1 » Wed Oct 09, 2019 6:03 am

Also the amateur website says in fine print "A Zion Bank Company"

But the real bank based in Utah is "Zions Bank" with an "s".

Google says there's no such thing as Zion Bank without an "s".

I'd be very cautious.

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Nate79
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Re: Anyone know anything about California Bank and Trust?

Post by Nate79 » Wed Oct 09, 2019 6:05 am

The 1 800 number is also not the same on the two websites. Certainly seems fishy.

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oldcomputerguy
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Re: Anyone know anything about California Bank and Trust?

Post by oldcomputerguy » Wed Oct 09, 2019 6:14 am

I think it's definitely a scam. Brand-new domain name, and in addition to the points made above I note that their masthead contains a logo graphic that was lifted from Carroll Bank & Trust in West Tennessee. I altered the link in the OP's post to prevent members from getting taken in.
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HueyLD
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Re: Anyone know anything about California Bank and Trust?

Post by HueyLD » Wed Oct 09, 2019 6:31 am

Gosh, this whole episode is very scary.

Abe, did you find the fake site thru googling?

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simplesimon
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Re: Anyone know anything about California Bank and Trust?

Post by simplesimon » Wed Oct 09, 2019 7:25 am

This reminds me of the quote:

“More money has been lost reaching for yield than at the point of a gun.”

I hope OP is okay.

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HueyLD
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Re: Anyone know anything about California Bank and Trust?

Post by HueyLD » Wed Oct 09, 2019 9:36 am

If youI google their fake 1-800 number, you will see another phony site, except it isn’t there when you go to it. This has the same wording: Easy Money with an Easy Out!

Please be careful, people.

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Re: Anyone know anything about California Bank and Trust?

Post by Dottie57 » Wed Oct 09, 2019 9:59 am

HueyLD wrote:
Wed Oct 09, 2019 9:36 am
If youI google their fake 1-800 number, you will see another phony site, except it isn’t there when you go to it. This has the same wording: Easy Money with an Easy Out!

Please be careful, people.
I buy CDs from Fidelity or my bank. Lots of creeps out there scamming people.

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Abe
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Re: Anyone know anything about California Bank and Trust?

Post by Abe » Wed Oct 09, 2019 10:49 am

HueyLD wrote:
Wed Oct 09, 2019 6:31 am
Gosh, this whole episode is very scary.

Abe, did you find the fake site thru googling?
Yes, I was researching CD rates on Google and found this one: California Bank and Trust. Their rates were much higher than the ones I found on Bankrate.com. I just opened a 1 year CD at Ally Bank at 2.25% with 60 day EWP. California Bank and Trust is offering a 1 year CD at 3% APR, 3.04% APY with no ERP and no fees. I thought it sounded to good to be true. I guess it was.
Slow and steady wins the race.

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HueyLD
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Re: Anyone know anything about California Bank and Trust?

Post by HueyLD » Wed Oct 09, 2019 10:53 am

Ally bank does give "loyalty reward" to existing customers who renew their CDs. Call them and check it out.

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