Comments on: Western Alliance Bank High-Yield Savings Premier Review: 4.46% APY1 (Nationwide)

By: Bob

Bob — Thu, 12 Sep 2024 19:09:28 +0000

How long has western alliance bank been paying 5.31% on their savings accounts?
And, is that rate due to be lowered shortly, since none of their offered CD’s come even close to that rate.
And although I didn’t see a caution or disclaimer, aren’t banks free to change their savings rates at will, while a CD does lock in the customer’s CD Rate at time of opening.

All the while a possible Fed rate cut could be around the corner.

Would appreciate replies from anyone, either firsthand knowledgeable or what you expect will happen?
And thanks for any and all feedbacks!

By: Marilyn

Marilyn — Sun, 21 Apr 2024 23:26:15 +0000

How long does a withdrawal transaction take?

By: Lila Hardie

Lila Hardie — Thu, 07 Mar 2024 20:22:11 +0000

This was the easiest sign up I’ve ever encountered. No hassles, no delays. The online account setup worked great. I did not have to unfreeze my credit files to apply. They did not overreach on data collection. Only the minimum required information was requested. I was allowed to name a beneficiary right in the sign up process. Before I applied, I asked their support about ACH limits. Apparently, there are none except that the maximum single transaction is $250,000. The entire response is below. I’ll see what happens when I try to withdraw $200K on a single day. There is only a minimum $500 deposit to open. It’s one of the best interest rates in the country. I just got started with Western Alliance, but I’m hoping I’ll have full access to my money without all the ACH games many other banks play.

RESPONSE FROM WESTERN ALLIANCE SUPPORT CONCERNING ACH LIMITS
Thanks for reaching out to the Savings Premier support team. The maximum ACH allowed in or out is $250,000. The account allows users to deposit up to $250,00, while the total balance is allowed to be over that limit due to interest accrued. There are no transactional count limits. Depositing funds into the account takes 5 business days to settle. Withdrawals occur much faster as there are no mandatory settle days on withdrawals.