6% interest rate

[WEB slicer]

currently making $25 a month. it's easy money so i figured i would share.

https://www.mangomoney.com/what-is-mango

[LiteCoinGuy]

6% interest rate = high risk - high reward

[lottery248]

likely a scam.

now look for exit strategy to prevent from getting scammed if certainly needed.

[WEB slicer]

guys, it's a bank. they are registered with the FDIC.

 

[lottery248]

better say it before i do that. 

that's better than bank mat. why don't that accepts bitcoin? 

[freemind1]

I do not like the banks.

[WEB slicer]

to be honest, neither do i. i don't like paying my cell phone bill either but i need a phone.

[qwk]

currently making $25 a month. it's easy money so i figured i would share.

Isn't it rather $22?

Monthly Subscription Fee $3

And then there's another fee when you withdraw?

ATM Withdrawal   ATM may also charge an additional fee   $2

It's not even 6% to start with:

† The Annual Percentage Yield (APY) and the APY comparison as advertised are effective as of July 15, 2014. Rates are subject to change at any time and may change after accounts are opened. The APY advertised applies only to the portion of your savings account balance, which is $5,000.00 or less; or 2.00% if you are not on Direct Deposit Service. An APY of 0.10% will be paid on the portion of your savings account balance that exceeds $5,000.00. Fees could reduce the earnings on your savings account. Please see the Savings Account Customer Agreement for full disclosures.

First, you also have to be on "Direct Deposit Service":

*You qualify as enrolling in the Direct Deposit Service when you complete two government benefits or paycheck Direct Deposits totaling $50.00 within 90 days of opening your account.  Your account will be credited within 30 days of full enrollment.

[WEB slicer]

i'm just a little under $25, close enough to call it $25. i still have like $600 i need to deposit before i hit the 5K cap. after i have a little more in the account i will be over $25.

the "monthly" subscription fee is not what it sounds like. the account comes with a debit card. if you load $500 in a month you don't pay the fee. also, if you don't use the card, you don't get charged the fee.

to withdraw i go to chase bank and do a cash advance. no fee.

ACH transfer from your current bank or paypal counts as direct deposit.

[LiteCoinGuy]

just ask yourself:

why can they pay 6% but Wells Fargo can only pay 1-2%  ?

[WEB slicer]

i believe the answer to this is they have fewer physical locations and their system in mainly internet banking so they have less operation costs.

they are not the only ones doing this. i was with a few other banks that offered a similar rate. amtrust direct was doing 6.36% for a few years. they didn't have a cap or minimum either. i gave them all my money.

netspend is doing 5%

https://www.netspend.com/how_it_works/managing_your_money.shtml

[qwk]

just ask yourself:

why can they pay 6% but Wells Fargo can only pay 1-2%  ?

In fact, they're offering $300 per customer per year as a promotional bonus. That's not unheard of.
But it really make you wonder how desperate their sales department has to be.
And obviously, that's not sustainable, so they'll have to cut down on it sooner or later.

[WEB slicer]

they have been offering this rate for several years. i also called them and asked for their FDIC registration number and verified they were FDIC insured.

[White sugar]

looks like a ponzi to me, one made by professionals. Would not be the first one around that looks as solid as.

I would be cautious

[WEB slicer]

geez you guys are the biggest bunch of fearful skeptics anywhere. this forum has warped your mind. safe yourself now and go out in to the real world.

[LiteCoinGuy]

geez you guys are the biggest bunch of fearful skeptics anywhere. this forum has warped your mind. safe yourself now and go out in to the real world.

it is better to be careful than to lose money isnt it  ? people lost money so much money (mtgox,gaw etc) because of so many scams here, especially in the cypto-world (and it is just starting  )

dont be angry 

[WEB slicer]

not agry at all. why should i care what others think or do? i'm just trying to tell you guys about something. MTgox wasn't a bank. they aren't held to the same standards. this is a legitimate bank. if you don't know how the FDIC insurance works i suggest you look in to it cause that should be enough to easy the minds of any skeptics.

anyways, i'm not trying to convince anybody. if you're not interested god bless.

[LiteCoinGuy]

not agry at all. why should i care what others think or do? i'm just trying to tell you guys about something. MTgox wasn't a bank. they aren't held to the same standards. this is a legitimate bank. if you don't know how the FDIC insurance works i suggest you look in to it cause that should be enough to easy the minds of any skeptics.

anyways, i'm not trying to convince anybody. if you're not interested god bless.

no interest rate for him