Author Topic: Bank Direct AAdvantage Mileage Checking Account  (Read 26990 times)

Offline MLM

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Re: Re: best bank for checking account?
« Reply #30 on: February 11, 2011, 01:00:25 PM »
Per SSN. If you want FDIC insurance you need to keep your balance under $250k per account anyway.


Btw as a side note if it will ever be nogea there are many ways to have  more than $250,000 FDIC insurance. You are eligible $250,000 per account type Joints get 250k per person and single gets 250 so a couple would automatically get $500k for their joint and $250k each in other individual accounts. for a total of 1 million. Also if beneficiaries are added to accounts then there is another additional $250k per beneficiary and there is no limit to how many can be placed on the account.

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Re: Re: best bank for checking account?
« Reply #31 on: February 14, 2011, 02:26:28 PM »
It's not per AA account, it's per checking account.  You are allowed to have 2 checking accounts under their current rules.

I just spoke to a rep and he said the limit applies to the AA account. You can have as many mileage checking accounts as you want just you can only be crediting miles to your AA account from maximum of two mileage checking accounts.

According to FT this might change along with the other changes being discussed.

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Re: Re: best bank for checking account?
« Reply #32 on: February 22, 2011, 02:41:26 PM »
Just spoke to Bank Direct supervisor ans she said that they are having a meeting this afternoon regarding the changes that will take place. It will be effective April 1, 2011.  She said she will call me back with info on the changes after the meeting. She said she doesn't think there will be cap per se just once you reach a certain threshold $250,000 the earning will be lower so I would not worry too much about it. But Ill keep everyone posted. Also interestingly enough another big guy at Texas Capital Bank the owners of Bank Direct told me that they pay 1.8 cpm to AA. And they are really losing alot of money off the program and therefore eventually there  will have to be a change in the future, but he didn't say that this change will be soon.

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Re: Re: best bank for checking account?
« Reply #33 on: February 22, 2011, 02:45:52 PM »
Just spoke to Bank Direct supervisor ans she said that they are having a meeting this afternoon regarding the changes that will take place. It will be effective April 1, 2011.  She said she will call me back with info on the changes after the meeting. She said she doesn't think there will be cap per se just once you reach a certain threshold $250,000 the earning will be lower so I would not worry too much about it. But Ill keep everyone posted. Also interestingly enough another big guy at Texas Capital Bank the owners of Bank Direct told me that they pay 1.8 cpm to AA. And they are really losing alot of money off the program and therefore eventually there  will have to be a change in the future, but he didn't say that this change will be soon.

1.8cpm, that's hard to believe. Why would they be paying that if they can borrow from the Fed for less?
PGF24BMGS

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Re: Re: best bank for checking account?
« Reply #34 on: February 22, 2011, 02:47:16 PM »
1.8cpm, that's hard to believe. Why would they be paying that if they can borrow from the Fed for less?

Its from when interest rates were much higher and that is exactly why they are losing money.

Offline mancunian

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Re: Re: best bank for checking account?
« Reply #35 on: February 22, 2011, 03:50:21 PM »
i've mentioned before:

On the original topic, i'm very happy banking with chase.

A business account gets you a free premier account.
The premier account gives free checks and four withdrawals from other banks' atms, although they dont refund the other bank's fee.
And i'm convinced the customer service is better. I don't think theres anything they haven't been able to do for me, happily, since i switched.
And in general chase has good customer service, in the branch and on the phone, and are open quite late, and i like their online banking

Business accounts are free with 5 purchases a month, otherwise they charge you whatever balance is in the account, up to $15 per month.

Offline BAHayman

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Re: Re: best bank for checking account?
« Reply #36 on: February 23, 2011, 05:53:42 PM »
i've mentioned before:

On the original topic, i'm very happy banking with chase.

A business account gets you a free premier account.
The premier account gives free checks and four withdrawals from other banks' atms, although they dont refund the other bank's fee.
And i'm convinced the customer service is better. I don't think theres anything they haven't been able to do for me, happily, since i switched.
And in general chase has good customer service, in the branch and on the phone, and are open quite late, and i like their online banking

Business accounts are free with 5 purchases a month, otherwise they charge you whatever balance is in the account, up to $15 per month.

I can't seem to find where it says that a business account will be free with 5 purchases a month..

Offline mancunian

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Re: Re: best bank for checking account?
« Reply #37 on: February 23, 2011, 10:11:04 PM »
screenshot

if i find the site again i'll tell you
to be honest, chase had trouble finding it too. some agents were aware, some not. i knew about it from mailings i got

edit - here:
https://www.chase.com/index.jsp?pg_name=ccpmapp/shared/marketing/page/chase_exclusives
https://www.chase.com/ccp/index.jsp?pg_name=ccpmapp/smallbusiness/business_banking/page/mp_premier_checking
https://www.chase.com/ccpmweb/shared/document/business_exclusives.pdf

edit 2 -
guess i didnt read well. it is tho try it
« Last Edit: February 23, 2011, 10:15:15 PM by mancunian »

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #38 on: March 02, 2011, 05:02:45 PM »
Effective 04/01 you will get the AA miles at the same rate 1 mile per $10 per month (12 miles per $10 per year) for balances up to $200,000.  For anything over $200,000 you will only get 1 mile per $40 per month.

Currently you can have 2 mileage checking accounts per person but soon (April 1st maybe?) they will only allow 1 mileage checking account per household to be opened!  Accounts that are open before will be allowed to stay open and each grandfathered account will be allowed to earn miles at the higher rate for up to $200K per account.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #39 on: March 02, 2011, 05:03:30 PM »
May all of us be zoche to have those worries very soon :)
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline Yordai Dooma

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #40 on: March 02, 2011, 05:15:00 PM »
Effective 04/01 you will get the AA miles at the same rate 1 mile per $10 per month (12 miles per $10 per year) for balances up to $200,000.  For anything over $200,000 you will only get 1 mile per $40 per month.

Currently you can have 2 mileage checking accounts per person but soon (April 1st maybe?) they will only allow 1 mileage checking account per household to be opened!  Accounts that are open before will be allowed to stay open and each grandfathered account will be allowed to earn miles at the higher rate for up to $200K per account.

Wow. so we should really open new accounts for family members before we cant...

Where did you hear this from?

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #41 on: March 02, 2011, 06:06:27 PM »
Wow. so we should really open new accounts for family members before we cant...

Where did you hear this from?
Looks like its too late!
Attention AA Customers:
Limit 2 Mileage transaction accounts per household: One Mileage Checking Account and one Mileage Money Market Account.

Also someone on FT just reported that new customers will only get 1 mile per $20 per month!  Still showing 1 mile per $10 on this site though so you may be able to apply now with a different address and still get the old rate!
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #42 on: March 02, 2011, 06:10:28 PM »
Looks like its too late!
Attention AA Customers:
Limit 2 Mileage transaction accounts per household: One Mileage Checking Account and one Mileage Money Market Account.

Also someone on FT just reported that new customers will only get 1 mile per $20 per month!  Still showing 1 mile per $10 on this site though so you may be able to apply now with a different address and still get the old rate!

Wow! That really stinks....

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #43 on: March 02, 2011, 07:09:07 PM »
Looks like its too late!
Attention AA Customers:
Limit 2 Mileage transaction accounts per household: One Mileage Checking Account and one Mileage Money Market Account.

Also someone on FT just reported that new customers will only get 1 mile per $20 per month!  Still showing 1 mile per $10 on this site though so you may be able to apply now with a different address and still get the old rate!
The bank Direct website still says 1 mile per $10 maybe (hopefully)the 1 per $20 is for the mma.

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #44 on: March 02, 2011, 07:13:55 PM »
The bank Direct website still says 1 mile per $10 maybe (hopefully)the 1 per $20 is for the mma.
Or more likely I think, i that it will affect customers with accounts opened after 04/01.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.