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Redneck Bank...

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ZackAttack
Established Contributor

Re: Redneck Bank...

Genisys Credit Union gives off a checking account of 4.06 APY with 10 debit card (think $5+ per transaction). I personally don't use it because I think a brokerage account is a better way of collecting that interest from time to time.

 

I wish that debit cards were reported to the bureaus for history Smiley Sad

 

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Genisys CU also offers a High Youth Savings at 5.12% APY

MSGCU Rewards | $8kDiscover Cash It | $10kAmex BCP | $15kBest Buy Visa | $20kChase Freedom Flex | $8kDCU Platinum | $8kNFCU Plat | $35kNFCU cashRewards | $24kAffinity FCU Cash Rewards | $7kAmazon Prime | 12.5kChase Unlimited | 16.4kUSAA Cashback Rewards Plus Amex | 10kAmex Business Cash | 10k


Loans
Ford Credit Car Loan 2-year 6/22/2023 ($299/month)
Closed
Michigan Schools & Gov't CU Titanium 1/4/2019 - 10/2/2020
Ford Credit Car Loan 3-year 7/31/2018-6/6/2021
$1,500 Discover Card 10/2/2020 - 8/18/2021
$3,500 Citi DC 10/14/2020 - 12/11/2021
$8,000 DCU Personal Loan 5-year 5.99% 10/2/2020 - 4/30/2021
$8,000 NFCU CashRewards 1/2/2021 - 7/30/2022
$5,000 MSGCU Personal Loan 3-year 7.75% 4/22/2022 - 10/30/2022
Ford Credit Car Loan 2-year 6/7/2021 - 6/22/2023
Message 21 of 26
Anonymous
Not applicable

Re: Redneck Bank...

Wait, wait, wait, wait, wait...
Did I read this stuff correctly?

You guys just open up these "transactions needed" accounts, and then use Google Pay to "pay" yourself in a different checking account?

Ugh, I might have to learn this new tangled mobile wallet stuff to scam banks, errr, I mean look at new banking options.
Message 22 of 26
ZackAttack
Established Contributor

Re: Redneck Bank...


@Anonymous wrote:

@Anonymous wrote:

I always felt like these were too much work. 

 

I guess if you could go to a grocery store and scan & pay for 10 <$1 items individually, you could come out ahead.


I just use Google pay to transfer money between accounts. It's technically a purchase to the bank. Even my Discover cashback debit earns 1% on money I simply transfer out of it via Google Pay to my main checking, zero loss. Plus it's pretty much instant instead of waiting days for ach. So just transfer an arbitrary amount to redneck, then transfer 10 random amounts back out via google pay. Should trigger it.


So if you use discover's 1% debit thru google pay, isn't a great way to earn money with use of caution???

MSGCU Rewards | $8kDiscover Cash It | $10kAmex BCP | $15kBest Buy Visa | $20kChase Freedom Flex | $8kDCU Platinum | $8kNFCU Plat | $35kNFCU cashRewards | $24kAffinity FCU Cash Rewards | $7kAmazon Prime | 12.5kChase Unlimited | 16.4kUSAA Cashback Rewards Plus Amex | 10kAmex Business Cash | 10k


Loans
Ford Credit Car Loan 2-year 6/22/2023 ($299/month)
Closed
Michigan Schools & Gov't CU Titanium 1/4/2019 - 10/2/2020
Ford Credit Car Loan 3-year 7/31/2018-6/6/2021
$1,500 Discover Card 10/2/2020 - 8/18/2021
$3,500 Citi DC 10/14/2020 - 12/11/2021
$8,000 DCU Personal Loan 5-year 5.99% 10/2/2020 - 4/30/2021
$8,000 NFCU CashRewards 1/2/2021 - 7/30/2022
$5,000 MSGCU Personal Loan 3-year 7.75% 4/22/2022 - 10/30/2022
Ford Credit Car Loan 2-year 6/7/2021 - 6/22/2023
Message 23 of 26
Anonymous
Not applicable

Re: Redneck Bank...

Just have two gmail accounts on your phone and use the send function to send it to your other email. You can have the same debit card on multiple Google pay accounts as long as you set the billing correctly. Very handy when moving money from one checking account to the other, instant vs 3 business days for ach.
Message 24 of 26
Anonymous
Not applicable

Re: Redneck Bank...


@ZackAttack wrote:

@Anonymous wrote:

@Anonymous wrote:

I always felt like these were too much work. 

 

I guess if you could go to a grocery store and scan & pay for 10 <$1 items individually, you could come out ahead.


I just use Google pay to transfer money between accounts. It's technically a purchase to the bank. Even my Discover cashback debit earns 1% on money I simply transfer out of it via Google Pay to my main checking, zero loss. Plus it's pretty much instant instead of waiting days for ach. So just transfer an arbitrary amount to redneck, then transfer 10 random amounts back out via google pay. Should trigger it.


So if you use discover's 1% debit thru google pay, isn't a great way to earn money with use of caution???


They thought of it already. Smiley Sad Screenshot_20190815-225124_Chrome.jpg

Message 25 of 26
Anonymous
Not applicable

Re: Redneck Bank...


@Anonymous wrote:

@ZackAttack wrote:

@Anonymous wrote:

@Anonymous wrote:

I always felt like these were too much work. 

 

I guess if you could go to a grocery store and scan & pay for 10 <$1 items individually, you could come out ahead.


I just use Google pay to transfer money between accounts. It's technically a purchase to the bank. Even my Discover cashback debit earns 1% on money I simply transfer out of it via Google Pay to my main checking, zero loss. Plus it's pretty much instant instead of waiting days for ach. So just transfer an arbitrary amount to redneck, then transfer 10 random amounts back out via google pay. Should trigger it.


So if you use discover's 1% debit thru google pay, isn't a great way to earn money with use of caution???


They thought of it already. Smiley Sad Screenshot_20190815-225124_Chrome.jpg


Note the fact they actually do not list Google pay. I read through that during my tests before. Last month I did a test and shuffled a grand through and for over $10 back. I've never actually used the debit card, only way money has come out is via google pay. Smiley Tongue So it works for now. The way sending money via GP works is when you "send" you're actually making a "purchase" from google. They in turn do a credit push, kinda like a refund, to the other person. As long as you use the debit card, and not linking your bank account. This is also why sending money works, even if the bank does not have google pay agreements for in store purchases. Discover lists it on the app as "Debit Purchase" not p2p. I noticed it worked a few months ago when I selected my discover account to redeem cashback instead of my Schwab, and discovered cash back the following month equal to 1% of it. Investigation and testing ensued.

Message 26 of 26
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