/biz/ - Business & Finance

>>18590491
>What's the catch? Why isn't everyone doing this?
Their customer service

>>18590491
dude just buy tezos

>>18590507
>unironically needing to contact customer service
faggot

>>18590491
Most people are doing it, savings accounts have annual returns in almost every bank.
The catch is that the reason they can do that is because they're investing and using money and giving you a cut of the profits, which isn't much of a catch.

>>18590529
>customer service only refers to help lines and doesn't include customer interaction

Navy Federal all the way. Enjoy your shitty kike banks.

>>18590491So if I have 100k dollars, They'd give me fuckin 150 dollars per month...
>muh 150 bux gains
OP is so retarted it may be bait.

>>18590491
I guess that's a little simplified, the "catch" is that you could do it yourself and get higher returns from the same amount of money if you did it yourself if you know what you're doing, and that since FDIC insurance only covers up to a specific amount of money, for 1.5% to be any real sizable difference in your income you would risk that if the bank shuts down from some unforeseen consequences you'll lose that money.

>>18590491
>Why isn't everyone doing this?
They are going bankrupt in two weeks. That oil plunge just killed them.

>>18590491
Because 1.5% is low? Online only bank accounts have been offering up to 2.5% for years now? How fucking new are you?

>>18590491
Because it's 1.5%. Downies can get a better return than that. I am king downs, and I get more than 1 and a half fucking percent.
>>18590642
This.

>>18590642

Obviously it's not my main bank roll. I have money in crypto, stocks, etc.

But it's nice to have an account where the money can't be lost and it's at least earning something.

>>18591170
>not putting all yer money into chainlink as your bank, savings, investments, 401K, IRA, ROTH, debit card all in one

not gonna make it

>>18591223

Lol I have 1000 LINK.

>>18590491
Intro rate is born to gain customers----->x amount of customers is gained, looks good, gives them more leveraging power for their investing, they make y amount off of x new customers---->after they make enough money and acquire enough market share, they can lower interest, and z amount of people probably won't even notice or care, and they'll still be left over with q amount of customers. This isn't the only scenario, but on of the possibles. I've seen similar happen a time or two.

Keep in mind, realistically with the way things are now, anything under 6-8% is just a bit shady. The actual numbers need to be run on how much the dollar will actually be inflated this year, and the coming years, but my guess is anything under 6-8% is probably garbage. Always outpace, always.

>>18590491
>What's the catch? Why isn't everyone doing this?

They gotta make some investments to keep up pyramid scheme. They recently had some oil investments crumble and received a billion dollar margin call, so they had to go to the CFTC for a favor. They probably doubled-down on $20 dollar oil long and we can figure out hiw that's going for them. Expect them to go crawling to the Fed soon for a bailout

>>18590737
Source?

>>18591260

So you think in a year or two they are just gonna drop the rates??

>>18591405

It's bullshit. No one is offering over 2% on an FDIC insured account

>>18591427
Quite possible. Like I said, they're selling something to get you to deposit into their accounts. This means more market share for them and more depositor money that they themselves can make money off of. I've seen it at least once, if not twice, if my memory serves me correctly. It's why I don't look much into savings accounts anymore. Besides, average inflation before this year was around 1.7% anyways, so anything below that you're still losing buying power.

Just invest the money yourself, if you know how.

If you want a safe bet you're better off staking Tezos on Coinbase for 6%.

>>18590491
because there are much better ways to use your money than a 1.5% interest savings account. i mean inflation is over 1.5% a year so you're really not making anything.

>>18591665
fuck coinbase. i can't even stake tezos because i live in NY. i have to just let it sit in a wallet doing nothing. any other places to stake?