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> BankUnited, FSB
 
markber
post Oct 9 2005, 03:53 AM
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Website of BankUnited, FSB
FDIC Certificate # 32247
Address: 255 Alhambra Circle, Coral Gables, Florida, 33134
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vivyip
post May 22 2006, 03:07 PM
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1 million bucks


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This Bank came out with an Online Savings account with 1.75% APY.(as of 3/10/09)

This requires 5k to open and supposedly $300 to avoid fees.

If anyone can figure out the disclosure, please clarify. Thank you.

http://www.bankunited.com/moneytreesavings/
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jrr7
post Jun 7 2006, 10:11 PM
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QUOTE(vivyip @ May 22 2006, 10:07 AM)
This Bank came out with an Online Savings account with 5.00% APY.

This requires 5k to open and supposedly $300 to avoid fees.

If anyone can figure out the disclosure, please clarify.  Thank you.

http://www.bankunited.com/disclosures.asp?...&promo=SPUSSV63
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Based on my interpretation of the disclosure, it seems to be the case that this account always earns 5% and always charges a $5 monthly fee. In other words the monthly fee cannot be avoided.

This results in an APY after fees of:
  • $1000 : (1.12%)
  • $5000 : 3.74%
  • $10000 : 4.36%
  • $25000 : 4.74%
  • $50000 : 4.86%
  • $100000 : 4.93%
In other words, not an amazing account unless you've got serious money.
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