10% 12-Month CD ($5K max)

[gavinmccallister]

10% 12-Month CD at a Dallas Bank ($5K max)

American Bank of Texas is offering a special 10% APY 12-month CD. The maximum deposit is $5K. You must be a new customer, and you must open a checking account at the bank's McKinney, Texas branch. This special is not shown at the bank's website but in an ad published in today's Dallas Morning News. The ad is available online here.

[gavinmccallister]

Re: 10% 12-Month CD ($5K max)

I just got an e-mail from them, here is their response...
From: "Pam Hubbard" <phubbard@abtexas.com>
To: "'gavinmccallister@yahoo.com'" <gavinmccallister@yahoo.com>
Subject: CD
Date: Wed, 19 Apr 2006 10:02:24 -0500



The 10% CD is being offered to customers located in the McKinney and Prosper areas. If you live in one of these areas, you can apply online.



Notice:

Information contained in this transmission is intended for the use of the individual or entity named above and may contain legally privileged and/or confidential information. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution or copy of this communication is strictly prohibited. If you have received this communication in error, please permanently delete this message and immediately notify us at online@abtexas.com. Thank you.

I wish they would let anyone open it online, that doesn't seem fair, anyway I thought banks were in the business of opening accounts and making money? If I were in the banking industry and someone wanted to deposit $5000.00 in my bank regardless of where they lived I would definately accomodate their request.

Does anyone have any opinions on this response?
Does anyone live in the areas allowed to participate?

[sweeps]

Re: 10% 12-Month CD ($5K max)

I wish they would let anyone open it online, that doesn't seem fair, anyway I thought banks were in the business of opening accounts and making money? If I were in the banking industry and someone wanted to deposit $5000.00 in my bank regardless of where they lived I would definately accomodate their request.

They're not making any money on the CD. The CD is just a loss leader so local customers will open checking accounts and do other banking with them.

[Ima saver]

Re: 10% 12-Month CD ($5K max)

I tried opening an acccount at a BBand T bank in North Carolina and they said I needed to live in the area. I thought that was strange??