Barclay's Dream Savings Account

Anonymous · ‎08-23-2015

1.05% return with a couple other small bonuses for consistent deposits and no withdrawals. Anyone had any experiences with the Dream Account? Pros/cons? Better options? Only downside is that it looks like you can only deposit $1000 per month.

OnTheRebound · ‎08-23-2015

I considered it initially until I saw the $1K per month maximum deposit. Simple math dictated and I opted to go with the straight 1% Online Savings Account since my initial deposit was over $20K. If $1K per month max works for you then the Dream Account is a good option. I just needed to move the $20K in one piece out of PenFeds 0.05% Savings account to a more respectable 1% account. The opening was simple. Of course they verify any external accounts that you may register via making two small deposits. I'm sure you know how that works. Takes about a week. I'm happy. I haven't made any withdrawals yet but I'm sure that will be OK too.

Amex BCE $11.1 / Citi Diamond Preferred WMC $12K / Citi Double Cash WMC $3.8K / Comenity Total Rewards Visa $2.5K / Citi Home Depot $5K / AU- Amex BCP $12K / Chase Freedom Visa $11014.00 / PenFed Platinum Rewards Visa Signature $6K / GE Lowes $10K
myFico Scores on 10/03/2014
Eq 798 / Exp 811 / Trans 814
CCT Fico 08 on 1/3/16 - Trans 786 / Exp 793 / Eq 797

Anonymous · ‎08-23-2015

@OnTheRebound wrote:
I considered it initially until I saw the $1K per month maximum deposit. Simple math dictated and I opted to go with the straight 1% Online Savings Account since my initial deposit was over $20K. If $1K per month max works for you then the Dream Account is a good option. I just needed to move the $20K in one piece out of PenFeds 0.05% Savings account to a more respectable 1% account. The opening was simple. Of course they verify any external accounts that you may register via making two small deposits. I'm sure you know how that works. Takes about a week. I'm happy. I haven't made any withdrawals yet but I'm sure that will be OK too.

Still with Barclays, yeah?

OnTheRebound · ‎08-23-2015

Yep. Until something better comes along.

Amex BCE $11.1 / Citi Diamond Preferred WMC $12K / Citi Double Cash WMC $3.8K / Comenity Total Rewards Visa $2.5K / Citi Home Depot $5K / AU- Amex BCP $12K / Chase Freedom Visa $11014.00 / PenFed Platinum Rewards Visa Signature $6K / GE Lowes $10K
myFico Scores on 10/03/2014
Eq 798 / Exp 811 / Trans 814
CCT Fico 08 on 1/3/16 - Trans 786 / Exp 793 / Eq 797

Anonymous · ‎08-23-2015

Didn't even know about that one. Looks like a better option!

mongstradamus · ‎08-23-2015

I think synchrony/GE has similar savings account rates, but you need 30 dollar min balance if that is important to you.

EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16

Revelate · ‎08-23-2015

@Anonymous wrote:
1.05% return with a couple other small bonuses for consistent deposits and no withdrawals. Anyone had any experiences with the Dream Account? Pros/cons? Better options? Only downside is that it looks like you can only deposit $1000 per month.

Well, when you can get an easy bond fund from Vanguard or whoever with Cali muni bonds and being tax free at 2 and change percent last I checked while still being a near liquid medium, not sure why a Cali resident would care about the interest on their checking account... personally I'd suggest leaving 1.5% give or take on the table to be a downside .