This review is for: Money Market Checking
California First National is offering one of the highest interest rates for money market accounts with paper checks. Now, granted, as a money market account - there is a limit of only 3 checks/month, but for someone like myself with limited checking needs - this is not a problem. In fact, the 40 free checks that CalFirst provides will probably last me a couple of years.
When I spoke with the CSR, she mentioned that they don't have ACH capabilities - but with Capital One in my portfolio, I'm OK with my transfer options. It's only a soft credit check to apply, and it can be completed entirely online (with only a signature card required to be mailed in). I was a little unhappy to hear that although they have online statements, there's currently no way to stop the paper statements from coming - but I suppose this will justify the paper shredder in my office that is currently only used for credit card receipts, and occasional junk mail that particularly infuriates me.
In general, CalFirst is a very small bank (only 180 million on deposit!), but that's probably why they've kept their rates so competitive - and will hopefully continue to do so - I suppose if you're trying to grow, you need to bring in money to do so.
Posted by JohnM -- March 26, 2009
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