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Archive for May, 2017

Bank Purely Savings Account Experience

May 27th, 2017 at 11:40 am

I thought I would share my experience thus far with Bank Purely. I think it is fair to say that thus far it has been a frustrating experience.

When I opened my account online, I received a message that I need a PIN and that I would receive it in the mail. I had to wait more than a week for that.

Meanwhile, I downloaded their app to my phone. The app is called iGo Banking. There is also an internet bank called iGo Banking. You can access Bank Purely with the iGo app, but if you google iGo Banking online login and click on the link, you are taken to the website for iGo Banking, not the website for Bank Purely. I found this a bit confusing.

Once I did receive my PIN and finished my registration, I tried to move money from my Wells Fargo checking to my new Bank Purely savings. However, my account was not linked. The same account I had used to make the opening deposit of $1. I hunted all over the website and read the FAQs, but I could not figure out how to link my Wells Fargo checking. I was beginning to fear that I could not link a checking account which was not on the iGo Banking app. I sent an email to customer service and waited for a reply. I did receive a reply the next day, with instructions. My fears were unfounded, I was able to link my Wells Fargo Checking.

Then we come to the next hurdle. I wanted to transfer $5,059.89. Well, I can't. There is a limit of $2,000.00. I scheduled a transfer of $2,000.00 on Monday of this week. I tried to transfer a second $2,000.00 on Tuesday. Nope. The first transfer was still in process, so any additional transfer exceeded the limit. On Wednesday, the transfer posted to my checking account. On Thursday, the transfer posted to my savings account. On Friday, I scheduled a second transfer of $2,000.00. That is in transit now.

So, I don't know. Their rate (1.3%) on savings is fabulous. But if I had known how long it was going to take to get my money into that fabulous savings account, I think I would have passed on this account. And am I limited to the same 2k at a time if I want to withdraw money? I don't know, but I suspect yes.

I'm going to email Bank Purely and see what they say.

Update: I got a reply back already. This is what it says:

We apologize for the inconvenience, we identified an error with your limits. Our Inbound transfer limits are $100,000.00 per transfer and $500,000 for a rolling 30 day monthly period. Our Outbound standard transfer limits are $15,000.00 per transfer not to exceed $50,000.00 monthly on a rolling 30 day period. Our next business day transfers are $2,000.00 not to exceed $5,000.00 monthly on a rolling 30 day period. If you wish to increase your standard transfer limit for outbound transfers to your external account, an email or message with the amount needed and brief reason for increase is required to process your request for a maximum outbound transfer limit of $100,000.00 on a single transfer. The request will apply to that transaction only and will default back to the standard limit.

Yeah, so I can only deposit 5k per month. Not loving it.

FancyPants Planner

May 21st, 2017 at 10:36 am

I mentioned in my March budget report that I had spent $50 on a fancypants planner. It is from Plum Paper. I am enjoying this purchase immensely! I think I may buy one every year from now on. This is a look at how I have been using it.

I customized the cover:



I am using the monthly calendar to track the ins, outs, and daily balance of my checking account:



I am listing each credit card charge as I make it. I think I may start a running total on the side:



I do a mini-budget for each paycheck:



I have a dedicated page each month for listing each bill I must pay, and I highlight the amount when it has been paid:



I made a chart to track my progress on my Heloc repayment:

April 2017 Budget Report

May 13th, 2017 at 11:33 am



Wages - both of my paychecks were for 10 days (rather than 11) in April.

Other Income - included a work bonus, my side gig, and some credit card rewards.

Cash Allowance - I gave myself an extra $100 to cover expenses for our weekend in Bodega Bay.

Everything else:

dining out 376.63 (!!)
gifts 200.00
clothing(me) 167.97
CVS 84.61
hair cut 20.00
Rx 15.78
Pokemon Go 9.99
movie 9.25
Allergy Dr. 6.05
Etsy 4.50
Kiva 3.75
J 2.99





Mortgage Chips To Date

May 3rd, 2017 at 11:15 am

My mortgage payment has posted. This month I paid an additional $7.58. My new balance is $161,700.00.

Chips to date: $2,174.01

Interest savings this month: $8.30

Interest savings to date: $255.79

Eventually, the interest savings on the chips I have already made will compound to $4,596.11, provided I own this house until July 1, 2042. Which I probably won't. Stick Out Tongue

Banking Purely

May 1st, 2017 at 08:51 pm

Heard about this new internet bank on a message board forum. It is currently paying 1.3% on savings. And they plant a tree for every new account!

https://www.bankpurely.com/

Net Worth 4-30-17

May 1st, 2017 at 08:31 pm

Cash is up. Smile
Debt is down. Smile
Investments are up. Smile
Home value estimate is the same.