Відео

Yeap if you meet the other eligibility requirements you would still receive the bonus. You just have to open the account by 09/15/24, and then make qualifying direct deposits totaling at least $1,000 within ninety days of account opening.

@@FinancewithAvrin no chance for me, I didn't know that they want u to be close at least 50 miles to one of their locations!! I tried it but there is no location around!! Thank u for ur help 🙏🏼

I’m in the process of obtaining this bonus, and I’ve meet the requirements but it hasn’t been 90 days yet. I’ll update the status of my bonus after that timeframe.

Hey good question, you’ll get paid the interest in your Robinhood account. Also per Robinhood; “You’ll be paid interest once a month on the last business day of the month, which will include interest through the end of the month. If the last day of the month falls on a non-business day, you'll be prepaid interest for those days on the last business day.” “You can keep track of how much interest you’ve earned in the app in Account (person icon) → Menu (3 bars) → Investing → Cash sweep program.”

@@FinancewithAvrin they will go automatically in my buying power?

@@FinancewithAvrin thnk u for the reply

Per Robinhood representative: “Any interest earned on uninvested cash will automatically be added to your cash sweeps, and your buying power for you to use as you wish!” So yeap it would automatically go towards your buying power.

You’re welcome!

Yea that’s true, the fee can definitely be a con for beginning investors and/or those with a smaller balances.

Nice! This is a good bonus and the account itself is useful as well. Thanks for commenting about your experience!

Yea that’s understandable. A very attractive APY, but the bank itself isn’t very well known so that can be off putting. I know that’s why some people are hesitant in regards to banking with them.

Good question, the max amount a referrer may receive is $10,000. So the number of actual referrals with that max varies because the amount the referrers get varies. I’ve seen it range from $50-$100. Per SoFi “In no event will any referrer or recipient be entitled to receive more than $10,000 in cumulative referral or welcome bonuses under all available SoFi referral programs within any calendar year.”

Oh yea I remember! That’s a solid place to be, VTI is a great ETF! 📈

@@FinancewithAvrin what are your thoughts on M1 borrow? It’s one big reason why I invest

Hey, I’m not that familiar with M1 Borrow. I’ve never used it or even invested on margin ever, so I don’t have much experience with that. However, it looks like they have a lower rate compared to other brokers. So as long as the risks are understood and one can make more than the rate then it could be a good option for some investors. How long have you been using it? And how’s your experience been with it so far?

Hey good question, currently the APY on the Betterment Cash Reserve account is 5.00% and they have a three month .50% boost for new customers!

That seems frustrating and unfortunate you’ve had to experience that. I’m currently in the process of obtaining their bonus and I’ll write about my experience in the Community section of my UA-cam page once I have some kind of outcome. Thanks for leaving a comment about your experience. Hopefully it gets worked out soon and you receive the bonus.

You’re welcome, glad you enjoyed the video and found it informative! I agree, not much information on this bank, but hopefully this video can continue to be helpful for those looking for more info.

Yeap just checked, the rate has changed for this one. CD APYs & rates are variable until you open an account with one and then they become fixed for the term length. As I’ve been talking about and showing in these videos recently, some rates have been coming down, and looks like this one has added to that movement. When I made the video that CD rate was definitely higher. That’s one reason why I also put screenshots of the websites in the videos for further proof of the stated APY at the time of me working on the videos.

What about Pacific National Bank for 9 months at 5.25%, with only one month penalty for early withdrawal? Looks like the best 9 month CD available as of today

You’re welcome, glad you enjoyed the video! I like getting into the details. It’s great that you’re getting serious about your savings. Put your money to work for you and make those thousands!

@@FinancewithAvrin 🙏🙏🙏🙏🙏🙏🙏 thank you!!!!

Hey there, congrats on signing up for a new account. Did you sign up with the account through their promotion page for the bonus? If so, you should be good as the promotion is usually embedded in process. If you didn't or you're not sure you should probably contact a financial representative of the company and see if you can speak with someone to possibly add the promo to your new account. Hope it works out fine and you get the bonus!

Hey there, good question. Unfortunately, those would not qualify as an “enhanced direct deposit”. It’s kind of odd because some of the “enhanced direct deposits” that do qualify are basically transfers. I reached out to Citi to verify and here’s a response from one of their representatives; Enhanced direct deposit promotional offers means the funds will need to come via direct deposit, social security, paypal, Venmo., 3rd party person to person payment methods etc. This does not include transfers, this includes wire transfers and inter institution transfers (transfer from an account you own). A transfer from a Capital One account will not be considered enhanced direct deposit. ^

Bank bonuses are definitely a great & easy way to obtain some extra cash and check out a new account. I'm currently doing two of them. I think CDs can be great as well depending on a persons financial goals. Having a CD account and doing bank bonuses during the same time period is nice too, and definitely possible especially with bank bonuses often requiring direct deposits. I actually did a few bank bonuses while having a CD account open last year. You know a lot about finance too though,keep the progress going!

You're welcome! I enjoy researching and learning about different finance related info and sharing it. Glad you found this video informative & helpful. I hope you don't have any troubles with opening an account either. 🏦

Yea I can usually get in contact with financial institution representatives. What question did you have in mind for My Banking Direct?

Hey great question, I used The Calculator Site APY Calculator tool. www.thecalculatorsite.com/finance/calculators/apy-calculator.php

You’re welcome for the video, thanks for watching & commenting! I haven’t used this account personally but I did a lot of research on it.

That’s a good thing, keeping your credit card paid off! 👍

Hey great question, I use The Calculator Site APY Calculator tool. www.thecalculatorsite.com/finance/calculators/apy-calculator.php

Awesome, you’re right it has been updated! Thanks for the comment! I’m going to pin your comment if you don’t mind to help make others aware.

Interesting, thanks for the comment. That’s unfortunate that they denied yours. I had six different savings and checking accounts total when I applied for this account, but thankfully I got approved. Hopefully you’re able to get some others you’d like to check out.

@@FinancewithAvrin Let's say I have a couple more than six 😊

Awesome, thank you!

Glad you found it helpful! Thanks for subscribing!

Hey there, which Primis are you referring to? Currently the APY for the Primis bank personal savings account is 5.07% and the APY for their business savings account is 4.00%.

That's one issue they always change the rates.

Thank you! 🏦

You're welcome, thanks for watching & commenting!

Hey there, that’s what Flagstar declares. My Banking Directs requirements are different although they are a division of Flagstar, so its kind of confusing with their savings accounts having similarities and differences. I talk more about this in the APY & Interest and About My Banking Direct sections. Hope that helps.

@FinancewithAvrin Your right thanks for clarifying and going over everything will definitely look at the other HYSA you reviewed

No problem, you’re welcome!

Nope, for the My Banking Direct Savings Account the minimum amount to have earned the 5.55% APY is $1. I talk more about this in the APY & Interest Rate section in this video. However, the minimal initial deposit when opening an account is $500. Also new update, the APY for this account is no longer 5.55%, it was recently lowered to 5.45%.

Hey there good question, I reached out to First Horizon Bank and here’s their response; Avrin, Thank you for reaching out to us. No, there is no credit check when opening new deposit accounts. We do however run a Qualifile/Chexsystems report. If you have any other questions, please let us know!

Yes they pull Chex, I was denied, they were asking me why I had all these accounts as if it's their business

​@@thetrueyorkerwhat is chex

Alphabet is one of my favorite stocks and top 10 individual holdings in my portfolio so I buy small amounts of it on normal basis every week or so, and more when there are big dips and pullbacks. However with the recent run up to all time highs before earnings I've held back on buying, but will likely resume after earnings unless there's something catastrophic reported that changes the company or fundamentals in a major negative way.

@@FinancewithAvrin Nice, good advice thanks! Have subbed to your channel.

You’re welcome and thanks for subscribing!

Thanks, glad you found it helpful!

You're welcome!

You’re welcome, thanks for watching & commenting!

Yea that’s a good observation. That’s one thing with some online banks I’ve noticed. Instead of being able to close an account yourself, you sometimes have to call or write about it. Then prior to that the transfer limits can slow the pace of someone getting money out of the account.

Hey there, that’s awesome that this is one of your favorite finance channels, I really appreciate that. About paying off debt, that’s a good question. I think the best ways to tackle and pay of debt is to set a budget, try to increase income as much as possible(side hustles/work, PRN or part time job, extra tasks, etc), and consolidate debt if posible. Budgeting creates organization for your finances and helps you stay on track. Extra income can go towards paying off debt, and I think in this situation once extra income is received it should immediately go towards paying down debt. Not even waiting on due dates. Make multiple payments throughout the month. Seeing the balance of debt go down is motivating and will likely help you continue to move forward as well. If you’re dealing with high interest rates on debt see if you can consolidate it and lower the rate by either transferring the balance to a credit card that has a nice 0% or low introductory rate, getting a low rate loan to use for paying of the debt or something similar. Hope this helps!

@@FinancewithAvrin This is VERY HELPFUL and I pray that your channel continually grows and reach the masses with this helpful information. As always, Thank you.

You’re welcome, I’m glad it was helpful, and thank you for the blessings! I hope this channel continues to grow and reach, teach, help and inform people in various positive ways.

Hey there, great question. The difference isn’t very significant sometimes. It’s more noticeable with larger amounts of money and for longer periods of time. For example, interest on $10,000 earning 5.00% APY for a year, compounding daily and crediting monthly would be around $500.07 for the year. Same amount and APY compounding monthly and crediting monthly would be around $499.06 for the year. So yes there’s a different but not that much, varies and depends on the amount earning interest and for how long its earning it. I also talk about this more in some of my videos, most recently in my CD Accounts Explained with Pros & Cons video.

That’s a great question. You’re definitely in the right state of mind with looking into what to do next. I would research to see what the current bank you have is offering and compare that to accounts with other banks. I would then compose a list of those you’re really interested in and see what your advisor thinks of those. Or you can tell your advisor what rates and term length you’d like to have and see what your advisor can find for you.