Update 3/17/24: They are now offering their Novus checking with 6.00% APY for 6 months on up to $50,000. Requires direct deposit of $1200 within 60 days of opening. A monthly $1,200+ direct deposit is required to keep the 6% boost; otherwise you’ll get the base rate of 4%.(ht to reader PaulinTexas)
Update 6/9/23: Seems Primis went and froze everyone’s some peoples accounts, no one really knows what’s going on. Readers suggest filing CFPB, FDIC and BBB complaints against them to spur some action.
Update 2/17/23: They are now sending out an official email confirming that the 5.03% rate will remain (at this time) for those who got the account while that rate was being advertised.
Update 2/16/23: Rate has been cut to 4.35% for both accounts. Find higher APY accounts here. For now the reps are saying that this change only applies to new accounts, and existing customers will continue to get the 5.03% rate.
Contents
The Offer
Primis Checking | Primis Savings
- Primis is offering a 5.03% APY on their fee-free checking account with no minimums and no requirements.
- Primis is also offering a 5.03% APY on their fee-free savings account with no minimums and no requirements.
Primis Bank is FDIC insured.
Our Verdict
The 5.03% savings rate tops all rates on regular savings accounts and even tops all CD rates, at the time of this writing. What I find even more remarkable is the 5.03% rate on a checking account – those rarely offer any interest at all. (See this outdated post from a few years ago.)
I don’t know much about Primis Bank but thought it worth creating a dedicated thread for discussion and reader reviews. Both of these accounts are fairly new to us (though it’s possible they’ve been around for a while and under the radar). Feel free to share your experiences. The biggest question mark is whether they’ll maintain a high rate in the long run, relative to the market.
Hat tip to reader CO
View Comments (1163)
@guest_1814831, @guest_1968519 @guest_1970869 , @guest_1921240 , @guest_1546883 , and OTHERS-- Other than real DD, what type of DD did you use to qualify for the 6% APY. Thank you so much!
@guest_1971799 I've used Schwab and Treasury Direct (TD). TD is my current DD.
People who have done the novus promotion, how long did it take to update the APY to 6% on the app/website after DD? Thanks.
@guest_1968519 If this is your first DD, the rate won't update until the 16th, usually before noon, but NLT the end of day. Primis pays interest the 15th of the month & it shows up in the account on the 16th.
Thanks! it did today
As an existing customer, do I still need to join Priority Access list in order to open Novus account? Or is the list only for new customer?
Somehow, after login, I still don't see a way to open new account in online banking.
Could be 2 reasons, they changed their website, and they also created this queue. Just call them. Also Novus might not be offered any more
I am an existing customer and after login, I don't see an option to open Novus checking account. Actually, I don't see any option to open any new account.
Btw, this is the message from Fidelity when trying to link Primis.
"We tried to link your bank using your account and routing number, but need more information to verify your account. Please review the options below to complete linking your bank, or to send money using an alternative method.
Confirm your bank account with Finicity"
Do they give the option of uploading a voided check or some other bank docs? A few months ago many people started reporting that Fido asks for additional info when trying to add accounts with test deposits. Luckily the ones I tried to link all offered downloadable DD forms with my name/address/rtn/account #, and that was enough for them to approve the link. I added Sofi a couple weeks ago and they didn't request anything else, so not sure if that was just a temporary thing. You might be having a different problem, possibly the Primis account is too new?
Thanks for your suggestion. Fidelity accepted the account opening page/info that I had saved as a pdf and is in the process of linking the accounts
With Schwab (that issue is specific to Schwab and not Primis as I figured out I am having issues linking any new account, not just Primis), they have a paper form and ask for a voided check. Luckily I saved the account opening info as a pdf (there was an option during the application process) so giving that a try.
With Fidelity, they didnt give any other option, show the message I posed above and then say use Fincity or do Wires. Will try giving them a call tomorrow, but really curious how other people were able to link. Just to test Fidelity in general, tried linking a newly opened CO account via trial deposits and it took that with no issues.
They dont test any of this and dump this garbage on the customers. Not a fan of Plaid but atleast they have sorted out most of this $hit, these new copycats like Fincity are like what Plaid was in the beginning
Nothing is working today. After having issues on the Schwab side (issues totally with Schwab and not Primis), I thought let me give Fidelity a try.
Well tried Fidelity's trail deposit method and it gives the message saying we need more information and forces you to use this crappy things called "Fincity" from mastercard.
When you search for Primis there, it shows 2 options, Primis Personal banking and Primis Digital banking. When you select digital banking, it says not supported. When you select the other option, it says error connecting to you financial institution, what a pile of garbage. I remember while linking Primis with Customers (via Plaid), I had to select the Primis Digital banking option.
@guest_1916845 Any advice please? I see lot of people are using Fidelity so wondering why only I am having issues :(
Finally tried Chase and that let me do the trial deposit method, but not sure if those transfers still trigger the requirement @guest_1598586
@guest_1814831 any insights please? Not even sure why Primis shows up as these 2 different options in Plaid as well as Fincity
As of this current statement, Chase does trigger 6% for me. This is my 2nd Novus account
@Bulba when you said you used Chase for the DD requirement to get 6% APY, did you mean using the Chase platform/app and initiated an external ACH transfer? One time transfer or recurrent? If you don't mind, can you explain please? Is this a personal Chase account or Chase business account? Thank you so much!
@guest_1921240 Using Plaid at Customers, I could never get Primis to connect until after their recent upgrade. I also used the Primis Digital Banking option successfully.
As @guest_1960715 mentioned, the accounts might be too new. Sometimes it takes a couple of days for the new accounts to get propagated in the system. I'd try again on Friday & look for the trial deposits to arrive. Another option is to try and link an account on the Primis side - just to make sure account connectivity is good. If that works, other banks should be able to connect.
Happy Thanksgiving to everyone :)
Thanks @guest_1548958 and @guest_1814831.
Yes, I will give it a rest for a day or 2 and Happy Thanksgiving :)
@guest_1921436 below suggested a pretty smart idea to generate checks for yourself
Schwab's systems are pure garbage, wont let me link any external account, I saw lot of other folks complaining about the same
https://www.reddit.com/r/Schwab/comments/1e9sorg/anyone_having_issues_with_linking_an_external/
The Schwab guy finally admitted that their money link system has been broken for years, the only option is to send them the pdf form which requires a voided check and such.
And I am not going to contact Primis at this stage to ask for checks for multiple accounts :)
From reading all the comments, I see that Fidelity worked for a lot of folks. I dont have any brokerage account at Fidelity, just these. Does anyone know if sending money from Fidelity is same as sending from Fidelity CMA? thanks
Cash Management (Individual)
Fidelity Bloom Spend
Fidelity Bloom Save
You can do bill pay checks to yourself. They have Primis R/T and your account #, (not drawn on a different processing bank like some banks bill pay use) and would only debit your account when it clears, if you would want to cash it.
So I can use that check as a proof of account ownership for Schwab? Thanks for that suggestion, seems pretty smart
To be honest, I never do bill pays from any of my banks, so kind of new to it. Just to make sure I am doing it right..
I go to the My Finance at the top
When I tried the Pay A Person option, it says that they will get it via email or phone, so that doesnt seem like the pay with a check method
When I tried Pay Bills option, there I just searched my own name and then it lets me add myself as a biller after I select the no account number option and enter my address etc. Then it lets me pay that biller. Just wanted to confirm that this is the right way to get a check to myself?
thanks
Yes, that is the right way. I don't have Schwab, but I have used bill pay checks as account proof for my pension system direct deposit. They have very strict requirements and I needed to add my matching full name with them in the 1st address line (moving street to 2nd address line) of my bank profile, making it look like their were co-owners on the account.
@guest_1921436 - I am sorry. I am not sure if I am getting this right. Are you saying you used Bill Pay as a DD requirement to achieve the 6% APY?
Let me clarify, I was trying to get my Primis accounts linked with Schawb and Fidelity and they need actual paper checks as proof that you own those accounts So @guest_1921436 had this wonderful idea to use bill pay to generate sample checks for myself which I can then use for the account linking purposes
Yes, ACH push out from all Fido retail account types look the same.
Thanks but now Fidelity also giving me trouble, please see my post above :)
@guest_1814831 @guest_1860657
I was able to do the Novus account last night, it cost me a Chex and then I dont know what came over me, but I ended up opening a few more. I am too embarrassed to say how many :)
Please click on "read more", otherwise the formatting will be bad.
Can you please help me figure out/confirm a few things about operating these accounts?
1 The preferred rate starts from the first 16-15 cycle (did get the dates right?) after the $1200 DD is done. I changed my DDs today so not sure if they will kick in for this month end, but I guess because Dec 14 and 15 are weekends, the next one should definitely show up before 12/16, so I should be set to transfer 100k on 12/16 to get the higher rate, right?
2 I guess the 6 month promo period starts from the 1st DD and that itself needs to be started within 60 day. If for some reason, a DD gets messed up in the middle, can you get back on the promo train again by fixing it for next cycle? From what I read, the answer seems to be a no.
3 While opening accounts very early today, I didnt get any emails but got a bunch of them this morning. From what I see from my experience with initial funding, looks like they are like a very few other banks which give you credit instantly before the money is deducted from the external bank. Given this, what do you suggest is the best way to move money in? Just use an external account, right? I will check what limit do I have from Primis but I think I will use up whatever they have give me to pull from them on a Friday.
4 I see some recent posts related to their new platform (thanks to Vic as well). For adding beneficiaries, we need to contact them via phone or email now. I was trying to stay under the radar but I guess will have to reach out to them
5 I think I can handle these with real DDs but in case I cant from reading the comments, the following transfers should trigger DD, Schwab brokerage and TD (bank or brokerage?), Fidelity Bloom, right?
6 Is it ok to go over $100k in an account (because of accrued interest or whatever)? I mean I will still get 6% on the 100k, it is just the overage that will get the lower 4.5%, right?
7 On the same theme, I guess you guys pull out the interest every month and try to keep the account close to $100k at all times.
8 Finally, the most important one for me, has anyone tried to operate and get promo rate on more than one account simultaneously? I see some people did consecutively, i.e. open new account after after 6 month promo ran out on the previous. Fro what I read, the answer is a yes on both, right?
Now I have to see if Schwab and others let me link these Primis accounts with no drama :)
thanks
@guest_1921240 Just curious, how close are you to 59 1/2? What is your approach to managing your liquid funds? HYSA, CDs, T-Bills, Money Market Funds, Annuities, etc.
Only HYSA's. You mean age? If yes, then a few more years to get there.
Messed up the tag, hopefully you see my question above..
@guest_1921240
@fdic I was wondering this as well, since you mentioned you were pretty new to investing in the WF post but have accumulated a sizable cash balance. Do you have any investments in a 401k/IRA or some other retirement account? Or are you lucky enough to still get a pension?
I was burnt by the market in 2008 pretty bad, was my first dip into it. Since then, never even looked into it except for my 401k :) I will get a very miniscule pension when I retire but it is peanuts as my employer froze those benefits way back
@guest_1921240 I see vic torr answered so, I'll just add a couple of notes.
First, just a general caution. Due to prior account opening missteps, Primis now uses a "Priority Access" or reservation system for new customers. That's why you can't open an account from their main website.
Even though @guest_1958927 found a back door, was sent a link by Primis or from someone who signed up for "Priority Access", there is no guarantee that Primis will honor it. You might get lucky and slip through the cracks, but even you reported they are no longer offering the Novus account & @guest_1959439 quoted the same confirmation.
You won't really know until after your first $1,200 DD hits to see if the rate actually changes on the 16th. I say great if it works, just temper your expectations & report back with what I hope are good results for you and anyone else who tried using the link.
With the "Don't rain on my parade" part done, the six-month promo starts when the rate changes to 6%, so if you're 1st $1,200 DD is made prior to 12/15 then six months start on 12/16 starts and ends on 6/15.
I hope you get lucky :)
Thank you! I knew going in was a bit ymmv, thats why a bit hesitant to call them to add beneficiaries :) I wish it was self service like earlier.
I read somewhere that it takes a few days after the DD hits for the rate change to show up online? I am thinking rather than wait for the real DD which will probably hit 12/13 (Friday before the 15th), I can try something from Schwab to see if they give me 6% or not
@guest_1921240 It's probably a good idea to have the Schwab DD arrive early, just in case there is a problem with the work DD, but the Primis rate will not change early. If everything works out the rate will change to 6% on the 16th, sometime before noon.
I'd have my transfers planned out so you can execute once the rate change is confirmed. You should easily make the 2PM EST transfer window.
Thanks, your help with this and WF has been invaluable :)
I had one more question on my list to ask you regarding Customers. If I pull 250k into Customers during the 2:30PM-7:00PM window, and then push 250k out to Wells during the early morning-9:00AM window, is that possible, keeping in mind the overall ACH limits? What I am trying to ask is will yesterday's 250k transaction count towards yesterday's 250k total ACH limit, giving me a full 250k limit for the next day to use for the push?
thanks
With my crappy method that I had described earlier, doing the pull in the 7:00PM onwards slot, I could only do max 125 pull and then 125 push, as they both counted in 1 day's total 250k limit.
@guest_1921240 I'm glad you asked. Unless something has changed, the answer is No. It would be a problem because although you scheduled the pull the night before, it wouldn't execute until the following day so, it counts towards that day's limit.
Your options then are to transfer, or have on hand, $250K the prior day, or do the $125K in/out the same day...for two days. Like you have in the past - I've also used this method.
My Lending Club account lets me do $250K daily in both directions. The problem there is the 2/3 day hold on incoming & then next day for out going..but at least it's an option.
@guest_1921240 Scratch the No answer above. The answer is a definite YES. I scheduled a $225K pull on Friday between the 2:30-7:00PM window. The funds were in my account first thing this morning (Monday) & I just finished transferring $156K out.
Apparently, since the $225K was processed on Friday it was counted against Fridays $250K Limit, not against Monday's limit.
So, you could schedule $250K pull the prior night (2:30-7:00PM), have it processed/delivered overnight & then push $250K out in the first processing windows prior to 9:00AM.
So, this is great news for both of us :)
@guest_1921240 FYI...On two separate days I transferred funds from CB to Primis using the second,10:00AM-2:00PM, same day transfer window; however, the deposits weren't credited as arriving until the next day. The Primis processing schedules must be limited.
So, if you want a same day transfer to arrive & get credited the same day, you need to schedule it during the first transfer window (prior to 10:00AM).
Thank you, really appreciate the heads up!
I am planning to pull in about $250k using the 3-7PM window the day before, and then set my alarm to wake up early and push it out before 9 AM the next day. If it gives me any limits related trouble, I can keep it in Customers for a day.
@guest_1921240 Sounds like a good plan! So how many Novus accounts did you open?
I ended up opening 5, I dont know what came over me. I guess I was trying to compensate for missing out on these earlier plus I wasnt sure about how many beneficiaries they allow per account and I usually split my money between 5 beneficiaries. I was also thinking I can hoard them and activate 2 at a time, but then figured out they give you only 60 days to activate them. I did these all late at night without too much thinking :)
I am planning to activate just 2 for now, as I dont have enough funds to put there plus some of this money needs to go to WF. Once that money gets freed up, I will bring it back here too.I will try to activate the others with fake DD just to see if that works. Maybe I can use the 3rd one but the other 2 will sit empty
I had put myself in their queue as well, just today got the access email and Novus is not on the list. I guess they mistakenly included it in the link that they sent to that guy. I have to get beneficiaries added to my account but havent done that so far. I am thinking of activating them, moving my money in and then contact them so that they dont look like empty new accounts making them wonder how I got them. Or maybe I am overthinking it?
@guest_1921240 So, the $250K is for WF or Primis? You also opened the WF Platinum Savings account too, right? If yes, you had to fund that in 30 days & the Premier Checking account in 45 days. So, you already have $25K in the savings?
Yep, looks like Primis has finally cleaned up the new site offerings and removed all traces of Novus as an account you can open. I wouldn't worry about doing anything with the extra accounts until after the ones you want to keep are earning 6%. Like you said, you have 60 days to make the first DD to activate an account. That gives you a little time to decide what to do with the other accounts. It should be pretty easy to close the ones you don't need/want. Too bad you can't transfer ownership to someone who missed out getting an account!
My expired Novus account was supposed to earn 4% APY but looks like they converted it to their Primis Premium Account because it now earns 4.5% APY.
Hello, my friend, Im sorry, I missed your reply earlier.
I have separate 25 for WF savings. If Primis works out then I am putting 250 in there for a while as I have till the 1st (approx) to put the additional 225 in WellsTrade/Premier Checking. I also got a note from Wells Trade, they want some additional docs so still sorting that out.
I also wanted to give you an update. My DDs hit so I am waiting for the 16th (Monday) to see if the rate changes. You mentioned just before noon Eastern, right?
I am also planning to pull 250 into Cust in the 2-7 PM window today and will then push that into Primis on Monday (before 9 AM). I can push that all into a single Primis account and then rearrange it on the Primis side, right? I dont remember anything that says that rearranging wont work, right?
No matter if this works or not, none of this would have been possible without your help and guidance so just wanted to say thanks to you again!
Existing account here still shows 6% today. Have your new accounts' rates changed?
@guest_1921240 Thanks for the update! Yes, it should be updated prior to Noon on the 16th. Yes, you can push the entire amount to one account and then rearrange as you see fit.
Keeping my fingers crossed for you!! Looking forward to some good news on Monday :)
@guest_1814831 Hello, my friend, the 6% got triggered, thanks for your wishes and all the help with Customers.
Marcus threw a wrench in the transfer though, will update you on that later. I have lot of referrals so their account was convenient (at 4.90 currently) if I was not chasing rates. But I am so done with these $cumbags, finally decided to completely move away from them.
Btw, noted something a bit curious/strange yesterday/today. I had a spare $25k in another account, used Customers to pull that in after setting up the pull from Customers on Tuesday very early morning. So it sowed up in Customers at around 12:30 PM, I then pushed that out from Customers at exactly 12:48 PM Eastern and was checking Primis in the evening around 8 or 9 PM and still wasnt showing there. Checked Primis around 1 AM Wed and it showed up but with the next day's date of course. So that means loss of interest of 1 day.
The strange thing is that on Monday, I had some some small amount of money in Customers already, and when I noticed the Primis rate change at around 11:30 AM, I pushed that to Primis at that time and it showed up in Primis by around 6 or 7 PM same day.
So I am guessing something funky on Primis, I guess they run batches to process incoming transfers and messed up yesterday or may be the ACH time slots were a bit different somehow. Imight ask them about it if I ever call them :)
Back to the transfer drama, I had to bring money back to LC and I did that using LC to pull money from Marcus and luckily they have only a 3 day hold (I was wrong earlier and you were correct :) ) So I did that on Monday and it says funds will be available on Thursday. So I am planning on doing what you taught me. Use all of my limits from today to set up a pull from LC during the 3-7 PM window, then set up an alarm for 8 AM tomorrow and hopefully the funds will be there to be pushed out to Primis using he limits from tomorrow. I am hoping LC removes the hold a bit after midnight so that Customers pull can go through successfully.
Thanks again!
@guest_1921240 Great news!! It's very rewarding when all your hard work pays off!!
I had the same issue with Primis #1966061. You may have found a new DP transferring earlier in the 2nd window.
This will be a good DP on LC on when they release the hold (at midnight or later).
Hi.. Just wanted to update you.. Logged into LC at 12:10 AM and the hold was over and the sums were showing up in available balance. I guess they remove it exactly at midnight. Set up my 2 transfers to Primis from Cust at 8:55 AM and 9:02 AM and just checked at 3PM and they were already showing up there.
Just curious about something, do you know around what time do the previous day's (3-7PM slot) pulls actually show up in Customers? I have never gotten up that early to check but was thinking of setting up an alarm at 5AM / 6 AM etc to test :)
But I guess it is not of much relevance anyways. As long as it shows up before 9 AM or so, it is good enough.
Thanks again!
@guest_1921240 Thanks for the DP on LR & when the hold is released! Also, glad the funding strategy worked as advertised.
I'm not sure of the exact time a CB pull (3-7pm) arrives the next day. I think somewhere around 5 AM (EST) or earlier.
Like you said, as long as the funds are available during the first same day ACH window all is good :) - unless you really need to know, then you can set an alarm and do an update!
Thanks. My apologies that you had to point out that comment again. My brain loses track of some of the finer points specially after the drama Marcus gave me on Monday.
I think the method that you came up with is the best, the 3-7 window the previous day and the before 9 window the next day. You are a genius, you maximize the limits and minimize the risk of being late.
Regarding the pull from LC into Customers, I am hoping that Customers debit hits LC at least a few hours after mid night but I will try to check after mid night if the LC removes the hold right away.
@guest_1814831
Can you please also have a lookover on this plan for funding Wells Trade and see if it seems ok? I made a few small changes based on what I learnt from you so far, thanks
12/27 Fri Pull 225.5k from Marcus into LC (Typically available on following Wed but in this case Thurs 1/2)
Day 40 12/31 Tue Pull 225.5k from LC into Customers using the 2-7 PM slot (will pull from LC on Thurs 1/2 early)
Day 41 1/1 Wed Holiday
Day 42 1/2 Thur Push 225.5k from Customers to WF Checking before 9 AM
Transfer to Trade and buy WMPXX before 4 PM
Day 43 1/3 Fri Securities in account earning interest (hopefully)
Earlier..
Day 40 12/31 Tue Pull 225.5k from Marcus into Customers
Day 41 1/1 Wed Holiday
Day 42 1/2 Thur Push 225.5k from Customers to WF Checking
Transfer to Trade and buy WMPXX before 4 PM
Day 43 1/3 Fri Securities in account earning interest (hopefully)
@guest_1921240 OK I see what you're doing. You're using LC's same day deposit credit to double dip interest over the weekend. Cha-Ching an extra $56+ in interest.
If you wanted to simplify:
Day 40 12/31 (Tues) - Pull 225.5k from Marcus into CB (2-7 PM)
... everything else stay the same
Actually these $scumbags at Marcus are forcing me to do that. I had my money at Marcus for a long time but then LC Level Up account was offering more than Marcus so I took a chunk of it there and when it dropped I brought it back. It has been back at Marcus for more than a month but these $scumbags told me they will reverse my transfer (pull) from Customers if I tried to take my money there and my only option is to move my money back to LC. I had my complaint escalated internally and will file a complaint or 2 or 3 with CFPB but it hardly gets any traction with GarbageSacks.
So on Monday, I set up a pull from Marcus into LC as I had no other choice. You get 1 day of double dip there so it will make up for some of the loss of interest at Primis. If I had known earlier, then I would have done that pull into LC on last Friday itself and gotten myself 3 days of double dipping and would have avoided this non sense from Marcus too.
I had 2 posts above..
Back to the transfer drama, I had to bring money back to LC and I did that using LC to pull money from Marcus and luckily they have only a 3 day hold (I was wrong earlier and you were correct 🙂 ) So I did that on Monday and it says funds will be available on Thursday. So I am planning on doing what you taught me. Use all of my limits from today to set up a pull from LC during the 3-7 PM window, then set up an alarm for 8 AM tomorrow and hopefully the funds will be there to be pushed out to Primis using the limits from tomorrow. I am hoping LC removes the hold a bit after midnight so that Customers pull can go through successfully.
Then I thought let me do the same for move to Wells Trade as well. I just did the Customers pull from LC, hope everything works out
@guest_1921240 Wait....it's your money. How can Marcus do that? Have they already clawed back a valid withdrawal (pull) from Customers?
Thats why I call them $cumbags. They have done it once with Customers and twice with Amex. They will reverse the pull that you initiated from the external bank, and if you had already done something with the money in external bank, that account will be left in a big negative. Once these clowns reversed a Friday pull on Tuesday and locked up my Marcus account access and didnt even tell me anything. I only got to know when I got a call from Amex asking if I knew that they had done this. Amex and Customers on both these occasions were very decent. I told them that these were my accounts at Marcus and was willing to provide proof that they had the funds in them but it didnt come to that because they said they know Marcus is scummy like that. Amex has a hold so the money was still there to be reversed. With Customers, luckily I had only sent out a part of the money and then I had to bring it back right away to bring it back to +ve. Whenever I called Marcus, they just simply lie that sone one tried to call you but you never see a VM or even a missed call from them and then they say they have right to undo any "quick money movements".
I was with them because I have a lot of referrals (covering all of 2025 and half of 2026) and I didnt want to spend too much time chasing rates, and their base rate + 1.1% (aarp as well) put them close to the top rate most of the times. The max rate I saw from them was 5.60 but that didnt last long. Now they got rid of AARP as well. They are ok if you are willing to treat your savings account as a 3 month CD but otherwise a mega pain. The worst part is there are no official holds other than 5 days and some clown randomly decides if they like your pull or not and you face a lot of uncertainty. Also they say they provide free Wires but that is even worse, you ask them to do a transfer of any substantial amount and they will hold it back for 3 to 4 days. This time I am done with them for good as I cant afford this stress.
@guest_1921240 Wow, sorry you had to go through that :( I agree & I'd drop them like a hot potato.
I'd like to see how they define "quick money movements", I'd also want to see it in writing. It should be something addressed in your account disclosures. If it isn't documented, or they abused/expanded the scope of the restriction I would definitely file a CFPB complaint.
No definition, some donkey decides based on its flatulence level what is quick and what is not. I have had days where one transaction was allowed and another exactly similar one was reversed, I guess because 2 different donkeys might be looking at them. I was looking at old CFPB complaints and I stopped counting at 12 or 13, they dont care about CFPB, they just type up some marketing non sense in the response and close the complaint. And their front line reps are the worst, literally like you picked someone off the street to start answering calls. Regarding their supervisors, there is one in 20 chance that you might find a decent one and even that guy will be helpless and will blame the system.
I think all I ever got from them was a $100 compensation on 2 different occasions but with the time it took, it was like pennies per hour spent.
Did one of your accounts use Schwab only for DD?
That'll be a great DP.
Sorry for the late reply. Marcus's non sense left me really stressed out
As you already saw from my other reply, the rate changed. I was having trouble linking from Schwab (they use some third party garbage called Giac) but I did manage to get them linked from Fidelity after submitting paper forms. Schwab cant do anything even after submitting paper forms.
But to be honest, I was too chicken to try fake DDs because I opened these accounts using a loophole and also I have to now call them to get beneficiaries added. So thought better to just stick with real DDs for now :)
Yeah that makes sense. Primis did say they want to implement adding beneficiary to the new online banking system, which is supported by "bankjoy" I saw somewhere.
I hope they do that soon, that way I wont have to call them :)
I am not familiar with your history with Primis but I guess you have had this account for a while? Are you thinking of switching from real DD to Schwab or something like that (if I may ask)?
P2 still have 1 Novus less than 60 days old not activated but not enough real DD.
@guest_1860657 Schwab does work as DD as long as you schedule it from the Brokerage account to arrive on a future date.
For example: You schedule the transfer on 12/18 - schedule to arrive on 12/20. Note: It will actually arrive at Primis on 12/19 in the early evening.
Thank you! this is cool. Just to confirm though, this should apply on any day of the week, right? I was wondering if this has anything to do with Fridays only, only thinking that because your previous experience was different, no?
@guest_1921240 It should apply on any day of the week because it's the same process. The only way to 100% confirm is to do a transfer during the week. If you have something coming up give it a shot. Just give yourself and extra day in case there is an issue.
I've hit the $250K threshold multiple times & have even hit the monthly $1.25M threshold, once, by accident. So, now I keep track so that never happens again.
Anyways, let me know the results if you're able to test.
thanks! Since you brought up LC, I know LC is like Marcus for incoming, gives you credit right away before pulling from the other bank the next day (you get 1 day's of extra interest) but I never tried their outgoing. Do they deduct immediately and send next day (so you lose 1 day's of interest)?
Btw, LC applies hold of 5 days for me on the funds I pull using their ACH.
@guest_1921240 I haven't used them in a long time, so I really don't remember. I assume they pull today and send the next day, like CB does if you send outside the same day window but can't confirm. Sorry.
See, it's been so long I don't remember a 5-day holding time.
:) You dont have to have to say sorry for that, your testing and thoroughness has helped me gain so much useful information already.
1- yes; 3. maybe for initial funding but no fast credit any more for regular transfers under the new system; 5. TD means Treasury Direct here; 6. yes; 7. yes; 8. yes on both.
So you opened first one yesterday and then some today. Did you get Chex pull for accounts after the first? When the website asked you about user/password during the applications, did you just "create" them with same input?
Thanks for all your answers
I did my first app just before midnight, I just wanted to see what the app looks like but before you know it, the account was already open. Yes, got a Chex inquiry right away. Then I thought since I already got a Chex, let me open another one but it was already close to midnight so just to be safe, I froze my Chex but they dont even seem to pull a Chex for subsequent applications (similar to what I read here). They make you create a user.pwd for the application process to, you can use the same one again.
@guest_1814831 Do you know how to open a second account? I dont see any option while signed in. thanks
They changed the online banking system on 11/12 so no need to read any comments before that.
You can open additional accounts using the same link you used for 1st. Please let us know how it goes.
How to get the open account link for the 1st time if you are an existing customer? Is the link available only to people who apply via the Priority Access list? Can existing customer register for the Priority Access list in order to open Novus account?
Is there a way to apply for novus if you’re an existing primis customer but don’t already have novus? I don’t see any way to apply for additional accounts online.
In the “Account Info” tab the last item is "Accrued Interest". I just found that of 2 Novus Checking accounts, ONLY one is accruing correctly, the other has stopped after 1 day despite the APY still showing 6%.
Anyone else has the same issue?
Update: it has been fixed as of today.
The "Accrued Interest" for all of my accounts are wrong. The Novus accounts have 1 day interest & savings has $0.
Pretty sure it's just another glitch with their rollout. Since my savings has the same issue, I'm not concerned.
Same here