Originally Posted by
Jeffrey Paul
!! Looking at it now. So do you move your money into it from your checking and then back out to your checking? Understood on the timing in and out. It doesn't pay quite as much but i like the idea of being with AMEX... I think?
Yes, exactly. Deposit MO's into my local bank checking account, then transfer the money to AMEX savings, then eventually transfer it back to the same checking account. I end up transferring about 50% to Amex and leave the other 50% in the bank so they can earn some money off of my account as well. Technically right after I pay the bill off, I'll transfer 75% of deposits for a week or two, then down to 50%, then down to 25% so it probably averages out to about 50%. I figure I'm giving up some interest, but hopefully keeping goodwill with the local bank.