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Originally Posted by Sweepsplayer
GMAC's incoming transfers are so fast, it often registers the deposit (and you start earning interest) before the other bank even registers a withdrawal.
The site is no-frills. If you're looking for pretty orange designs or fancy schmancy artwork, you're not going to get it. But as the others have mentioned they've been reliable and the customer service is good.
Of course now that I've said all this, they'll drop their rates.  |
No orange? How absurd!
LOL
Since I've been maintaining the MMA rates thread, I've received several comments on banks; I have yet to see a negative comment about GMAC's site or service.
The only thing I've noticed is that whenever they move their rate up, it is only a very short time before they move it down again. There may still be a net increase but it seems odd. For instance, they moved their rate from 5.00% APY to 5.15% APY a while back. Less than a month later they lowered the rate to 5.05% APY. More recently, they increased their rate from 5.00% APY to 5.30% APY. About two weeks later they lowered the rate to 5.25%. As you can see, all of these are good rates, its just a little odd how they move it around sometimes.
I don't think you'll be disappointed if you open an account with GMAC.