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post #1 of 26 (permalink) Old 09-23-2008, 02:16 PM Thread Starter
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Oxford Bank

Does anyone use or know anything about Oxford Bank? I just got some junk mail that is advertising a 9 month CD @ 4%... almost seems too good to be true...

Any thoughts?

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post #2 of 26 (permalink) Old 09-23-2008, 02:21 PM
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Does anyone use or know anything about Oxford Bank? I just got some junk mail that is advertising a 9 month CD @ 4%... almost seems too good to be true...

Any thoughts?
If you don't like your D204 tax bill, then consider this: Bruce Glawe, a SB member who recently stepped down, is a 'higher up' there.

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post #3 of 26 (permalink) Old 09-23-2008, 02:34 PM Thread Starter
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If you don't like your D204 tax bill, then consider this: Bruce Glawe, a SB member who recently stepped down, is a 'higher up' there.
Not following you there.... So he's a scammer like the rest or no?

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post #4 of 26 (permalink) Old 09-23-2008, 02:35 PM
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My dad (over 30 years with First Bank of Chicago, Bank One, JP Chase) actually just recommended checking them out when my settlement comes in. They may have some fine print requiring you to open a checking account there too, but it couldn't hurt to check out.

Namaste

To the times I'll never remember, with the friends I'll never forget.
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post #5 of 26 (permalink) Old 09-23-2008, 02:35 PM
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mehhh

ING offers this:
6 Month 3.75%
9 Month 3.75%
12 Month 4.00%
18 Month 4.50%
24 Month 4.00%
30 Month 4.00%
36 Month 4.00%
48 Month 4.00%
60 Month 4.25%


i know the rates arent better but... ive never heard of oxford bank, and since i already have savings with ing its liek 4 mouse clickes to get CDs there as well

-Jason
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post #6 of 26 (permalink) Old 09-23-2008, 02:41 PM
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Not following you there.... So he's a scammer like the rest or no?
It's up to you to decide which businesses to give your money to, but at a SB meeting on April 14th, 2008, he was chastised by a neighbor during public comment who rattled off all the lies he told him about the new HS site and subsequent boundaries... BG couldn't even look the guy in the eyes...

You can watch the public comment here: http://ipsdweb.ipsd.org/Subpage.aspx/OnDemandVideo

Again, it's your money....

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post #7 of 26 (permalink) Old 09-23-2008, 04:06 PM Thread Starter
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Ah far be it from me to contribute to a scammer. ING is looking better.

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post #8 of 26 (permalink) Old 09-23-2008, 04:18 PM
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Ill refer you if you want, you get a 25dollar bonus for signing up for a savings acct

-Jason
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post #9 of 26 (permalink) Old 09-23-2008, 04:26 PM
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Oxford bank out of Napervllle is fine. They have been around for 10+ years. What are you concerned with?




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post #10 of 26 (permalink) Old 09-23-2008, 04:52 PM
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they suck. Plain and simple. Played games with me when i delt with them years ago and they rip off their customers. I will never ever give them my buisness again even if ivwas about to lose my house and cars and bike

...plus my gf was with me saying "omg slow down, slow down" and I was thinking "Lose annoying squalk box in passenger seat, afford more mods and have less weight in the car and on the back of the bike"...so i dumped her and I'm single again as usual...HERE KITTY KITTY!!!
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post #11 of 26 (permalink) Old 09-23-2008, 04:59 PM
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It's a CD, what is the fine print? Account with them...ect.




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post #12 of 26 (permalink) Old 09-23-2008, 05:10 PM
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Looks like they are somewhere in the middle. Not in great shape but not terrible either, http://www.bankrate.com/brm/safesoun...p?fedid=647432
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post #13 of 26 (permalink) Old 09-23-2008, 07:48 PM Thread Starter
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Has anyone done CD laddering before?

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post #14 of 26 (permalink) Old 09-24-2008, 07:15 AM
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Washington Mutual had/has a 5% APR.
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post #15 of 26 (permalink) Old 09-24-2008, 07:19 AM Thread Starter
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Isn't Washington Mutual on the brink currently? Seriously, I need to throw some disposable $$ into a locked acct asap... Any suggestions?

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post #16 of 26 (permalink) Old 09-24-2008, 07:59 AM
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i put my savings in ING, it generally takes a couple days to get it in adn out so it helps reduce the impulse use

-Jason
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post #17 of 26 (permalink) Old 09-24-2008, 08:30 AM
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CD layering is just CD's with different stages of maturity dates. For instance, every six months in case something comes up.

Wamu is having some issues but I do not think they are going anywhere. Just make sure your CD is covered by F.D.I.C.. 100k per person you have on an account, another 100k every time you add a P.O.D. Unless you have 800k+ to invest, you should be fine.




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post #18 of 26 (permalink) Old 09-24-2008, 11:49 AM
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Commonwealth Bank of Australia Offers 6.75% savings accounts suckers. ING Australia offers 8%.
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post #19 of 26 (permalink) Old 09-24-2008, 12:12 PM
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Commonwealth Bank of Australia Offers 6.75% savings accounts suckers. ING Australia offers 8%.
Us normal people without broken wrists don't have access to these made up banks.
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post #20 of 26 (permalink) Old 09-24-2008, 12:18 PM
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Us normal people without broken wrists don't have access to these made up banks.
Yup, made up

http://www.commbank.com.au/personal/...r/default.aspx

http://ingdirect.com.au/savings/savi..._maximiser.htm

You could also open an offshore money marked account and get ~8% as a US citizen.
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post #21 of 26 (permalink) Old 09-24-2008, 12:39 PM
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What kind of taxes would a US investor have to pay? Are there US taxes for interest made overseas? Are there Australian taxes to pay for a foreign investor?

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post #22 of 26 (permalink) Old 09-24-2008, 01:00 PM
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What kind of taxes would a US investor have to pay? Are there US taxes for interest made overseas? Are there Australian taxes to pay for a foreign investor?
Depends on the account and country, typically speaking you only pay US income taxes if you are setup right. As far as the AU accounts go, you'll pay Australian income tax up to the full extent of the law unless you have a TFN (tax file number). I have a TFN so I'm excluded from the AU taxes, however if you have enough to invest you should be able to acheive the same result.

For foreigners I'd suggest a MMIA account. The basic premise is that you get access to your account for one withdrawal per month via internet banking, the interest rate is around 8% calculated daily, and the tax responsibility becomes your own.

There are also reputable banks like ANZ which provide offshore accounts with non-taxed interest rates from 5.5% in savings accounts up to 6% in a TD. http://www.anz.com/cookislands/impor...erestrates.asp

Either way, if you do your homework you should be able to find a suitable solution which yields between 6 to 8% with little to no fees for amounts over $50,000.
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post #23 of 26 (permalink) Old 09-24-2008, 03:30 PM
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Citibank has 4% for 6 months. (CD)
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post #24 of 26 (permalink) Old 09-25-2008, 09:48 PM
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Quote:
Originally Posted by CHI1000RR View Post
Wamu is having some issues but I do not think they are going anywhere. Just make sure your CD is covered by F.D.I.C.. 100k per person you have on an account, another 100k every time you add a P.O.D. Unless you have 800k+ to invest, you should be fine.
heh WAMU went belly up today

http://www.bloomberg.com/apps/news?p...d=aQs9IMA9RfOk

Last edited by Ernie; 09-26-2008 at 04:14 AM.
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post #25 of 26 (permalink) Old 09-29-2008, 11:37 AM
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Yeah... wow... This is nuts. With Chase buying them, all customer deposits are fine. This is what you will see with large regional banks, government intervention and buyouts by other banks.




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post #26 of 26 (permalink) Old 09-29-2008, 11:52 AM
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We have a couple with Corus Bank. Their site is www.corusbank.com. They offer 4.07% for 6 months with $10k or more.

Take care and ride safe,
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