Author Topic: Video of Better.com CEO Laying Off 15% of Workforce  (Read 5214 times)

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Offline CalBears96

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #60 on: March 14, 2022, 11:22:53 AM »
the key thing is how long you need to keep the money there before and after closing, and compute whether the opportunity cost is worth the interest rate saving (vs simply just buying points, which could be tax deductible).

According to bkimxmd, his loan officer said that you could move the money out after closing. I read that you're supposed to move the money in days after the loan is approved. And you could have a mix of cash and investment. So if you had long term stocks, then it doesn't make much of a difference.

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #61 on: March 14, 2022, 02:21:08 PM »
Every bank has differing rate improvement, cash, and asset variables.

None of these banks have a requirement to keep your funds with them any longer than the day your deal records.

That said, yes, it's a hassle moving funds but not THAT big of a deal relative to the huge rate benefit you get by moving funds over.

My .02c
My .02c

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Offline sleepy5136

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #62 on: March 14, 2022, 02:24:59 PM »
Every bank has differing rate improvement, cash, and asset variables.

None of these banks have a requirement to keep your funds with them any longer than the day your deal records.

That said, yes, it's a hassle moving funds but not THAT big of a deal relative to the huge rate benefit you get by moving funds over.

My .02c
that leads me to the question as to why they would give that discount to you if they know you're going to move it after closing? I would think they should implement a stricter approach like requiring it to be there for one year?

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #63 on: March 14, 2022, 04:10:35 PM »
Every bank has differing rate improvement, cash, and asset variables.

None of these banks have a requirement to keep your funds with them any longer than the day your deal records.

That said, yes, it's a hassle moving funds but not THAT big of a deal relative to the huge rate benefit you get by moving funds over.

My .02c
that leads me to the question as to why they would give that discount to you if they know you're going to move it after closing? I would think they should implement a stricter approach like requiring it to be there for one year?

Because they know that a certain % of the people will not move the money right back out.
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Offline HMart

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Re: Video of Better.com CEO Laying Off 15% of Workforce
« Reply #64 on: March 15, 2022, 02:56:43 PM »
Every bank has differing rate improvement, cash, and asset variables.

None of these banks have a requirement to keep your funds with them any longer than the day your deal records.

That said, yes, it's a hassle moving funds but not THAT big of a deal relative to the huge rate benefit you get by moving funds over.

My .02c
that leads me to the question as to why they would give that discount to you if they know you're going to move it after closing? I would think they should implement a stricter approach like requiring it to be there for one year?

I think cynically, nothing really differentiates the big retail banks that much, so there's not much reason to move the money back.

In my opinion though Citi has the worst service (I signed up for their trial Citigold account a few years back) so I'd say Citi has distinguished themselves to me in a negative fashion.

 

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