This GE Capital online Banking September, 2014 update is about the financial institution that was named Best Bank by Money Magazine last year.
One of the shining points of the GE Capital electronic banking is their online savings accounts. This account has no minimum deposit to open and no transaction fees. All balances are earning an APY of 0.95%. This interest is compounded on a daily basis but paid out at the end of the month.
This online banking service has a variable interest rate which can change over time. This decision to change the rate is at the discretion of bank officials and can occur when they make the decision to do so.
There is a limit of 6 withdraws from the online savings account per statement cycle. These withdraws can be by electronic transfer to another account within the GE bank or to another financial institution. You can also make a wire transfer. Deposits can be made by electronic means or by using the mail service for paper checks. For those of you that prefer to use a phone, withdraws can be handle via the phone service if you wish to do so. Additional information about where the funds are going will be necessary. The automated phone service is available 24/7 and can also be used by online savings account customers.
All GE Capital Retail Bank rates are effective as of August 28, 2014 but are still effective in the month of September. All rates are subject to change without any prior notice.
You can also check out GE Capital Retail Bank certificate of deposit rates under its former name here at MetLife CD rates.