Comments on: Rewards Checking Account in Alabama paying 4.01% APY

By: JP

JP — Sun, 01 Aug 2010 17:59:53 +0000

My posts concerning my experience w/ Southpoint are above. To update: Since NOBODY is offering good CD rates, I’ve procrastinated about moving my money. On the 1st day of every month, I was initially earning arount $325 in interest. When their rates changed, my earnings dropped to around $100 per month. Today, when checking my balance online, I saw that only $24 of interest was deposited into the account(even though I had met and exceeded all of the stipulations to earn interest.) I was not notified of ANY changes in their terms. I am SO angry and will be demanding explanations and making some major changes tomorrow morning(this is Sunday).I think we are going to part company. I advise staying away from this bank. JP

By: JP

JP — Tue, 04 May 2010 05:14:10 +0000

Now,instead of their great rewards checking rate, they’re offering a( wait for it..) TOASTER with new checking accounts. Still looking for options better than the LOW CD rates in my area.

By: Ahonen

Ahonen — Thu, 11 Mar 2010 20:19:13 +0000

I have one of the accounts at Southpoint and was very pleased by the interest which was posted on the first day of every month. Two weeks ago, I was notified that their rate was dropping to just over 1.7 APR but as a fonsolation I would be offered 60 month, 3% CDs with the option of a one time withdrawal without a penalty.Not xure what I will do now, but 9t was great while it lasted!;

By: BankVibe

BankVibe — Thu, 11 Mar 2010 11:26:25 +0000

Thanks for sharing your experience JP!

By: JP

JP — Thu, 11 Mar 2010 07:11:41 +0000

I have one of the accounts at Southpoint and was very pleased by the interest which was posted on the first day of every month. Two weeks ago, I was notified that their rate was dropping to just over 1.7 APR but as a consolation I would be offered 60 month, 3% CDs with the option of a one time withdrawal without a penalty.Not sure what I will do now, but it was great while it lasted!

By: Type 0

Type 0 — Wed, 03 Feb 2010 04:26:41 +0000

Doesn’t seem to be offered anymore.