This review is for: Pot O Gold Money Market
Umbrella Bank has had their Pot O' Gold Money Market for a few years now, since 2005. Although the rates used to be competitive, they've fallen recently to average levels. In order to get on board with an average rate account from a bank that decides to name their products "Pot O' Gold Money Market" (and doesn't include a leprechaun image on the page), I'm going to need a lot of convincing.
Unfortunately for Umbrella Bank, the details of the account aren't doing the job. Although they have a full ACH system with no transfer limits, and no limits on external linked accounts, they require a hard credit check during the application process. With everything mentioned above, that's enough to stop me alone. However, turns out they also have an inactive account fee that kicks in after only 6 months. I think that is the most aggressive time period I've seen from an online bank.
This all adds up to a below average account in my mind, that needs to make some changes if they want to draw in new business.
Posted by paolo -- March 28, 2009
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