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615 Merrick Avenue
Westbury, NY 11590

AmTrustDirect is headquartered in Westbury and is the 5th largest bank in the state of New York. It is also the 39th largest bank in the nation. It was established in 1859 and as of June of 2014, it had grown to 2,123 employees at 248 locations. AmTrustDirect's money market rates are 82% higher than the national average, and it boasts a A+ health rating.

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Competitive 1-Year CD Rate at AmTrustDirect - 1/10/2014

AmTrustDirect has started to offer a competitive 1-year CD with a 1.05% APY. Minimum deposit is $500. New York Community Bank acquired AmTrust Bank (and its internet bank AmTrustDirect) in December 20 ...

Reviews (8)

Lost Patience And Trust- A Far Cry From A Banking Bulls Eye!

I was eager with opening the money market for 1.15% knowing that I was locked in for 6 months so if the rates when  down, I was still on the hook for 6 months regardless.

My other bank reduced my money market rate to .75 from 1.10% a big drop.

Opened my account online, since no paper  application could be mailed out. I did not even receive an e-mail confirming my online application, they take a hard credit check inquiry so I thought some e-mail welcome note, none. I screen all my junk mail so this was not an issue lost in a spam automatic deletion.

I called 3 separate times in three weeks, to inquiry how my account would be transferred over since I provided routing and account numbers. I was told my application was received, Second call the rep said a letter was going out requiring a copy of a utility bill and driver’s license.  No letter after another 1.5 weeks, called again and third rep said the letter should arrive very soon and mail back those two pieces of information, he also asked if I made a copy of the online application, I said no, I applied and hit the submit  button when finished thinking a confirmation e-mail would alleviate this. He said they would need this application copy in addition to the copy of my utility bill and driver’s license. Never told this when I initially called.

I called AmTrust Direct and cancelled my application process and mailed a stop payment to my existing bank so any ACH’s would  NOT occur from AmTrust Direct.

My account was $140K, I tried to stress the seriousness of purpose, all I got was inconsistent CSR’s and being  transferred to another group. 

Word to the wise, you may get a competitive rate for a very short period of time, but once you factor in the 6 months of staying with them, ordering your checks, no starter checks and the poor service, you’ll regret your decision. I am VERY glad I walked away unscathed.


Customer Unfriendly ...

I opened MM to get 1.15% and it went through in a week or so.

Now, due to my travel I can't login online to my account and it was locked due to "some activity"

Now sure what activity is as only single intitial direct deposit was made from my home bank and I initiated to link one more account and that was it.

What's more - to unlock account I was asked multiple choice questions based on some 3rd party system that uses some other public records ... and somehow my answers were not match that 3rd party expectations and I asked to  fax my signature to re validate myself.

Maybe it looks good from security point of view, but none of those questions were part of application process and you might have no idea of expected answers.

Anyway it's extreme inconvenience and time consuming.


Another thing is I can't see current MM rate at the web site ... they asked to call to the bank for this matter.

If you can minimize your interaction with amtrustdirect and rate remains the same - that is good MM, otherwise ...


I think they using customers as guneapig to test some security and etc systems.

Hope you will not have same issue as I have had.

Great Rate, High Fees!

I wanted to open the account in the name of my family trust.  To do that, you have to open the account, and then fill out the forms afterwards.  A hassle, but it is acceptable.  BUT, I was stunned to find out that the bank charged $75 to put the account into the name of the Trust.  Really???  The consumer has to do all the work, and you are charging $75 to allow the consumer to distribute their money after they die the way they want!  That is ridiculous.

Thsi Account Does Not Exist Any More.

I opened one in Februrary and wanted to open another one last week to discover that now the only account New York Community Banks offers is the account at MyBankingDirect where external accounts cannot be linked.
I have decided to open an account at TIAA-CREF Direct instead!

Why Is Amtrustdirect Not More Popular Here?

Their MMA account currently yields 1.15% for balances above $5K but there is barely any discussion on this website.


Not Worth Chasing, Avoid

If you open an account with Amtrust or its parent NYCB then you are going way overboard with the rate chasing.

Terrible Customer Service

Sent a $100K check to the wrong address without authorization to close out account. DO NOT PUT ANY MONEY IN THIS BANK.

Happy That I Made The Switch; They Are Fine

That is a very good question "why does it seem Amtrust Direct is unpopular?" They are at least in average shape compared to all other banks says the Texas ratio index. I moved our money from Capital One to Amtrust. I think they are going to work out just fine. I'm glad I made the move.


Data for Q2 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of June 30, 2014 AmTrustDirect had $304.62 million in non-current loans and owned real-estate with $5.58 billion in equity and loan loss allowances on hand to cover it. This gives AmTrustDirect a Texas Ratio of 5.46% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for AmTrustDirect decreased dramatically from 9.09% as of June 30, 2013 to 5.46% as of June 30, 2014, resulting in a positive change of 39.91%.This indicates that the balance sheet and financial strength for AmTrustDirect has improved dramatically in recent periods.

Deposit Growth


In the past year, AmTrustDirect has increased its total deposits by $1.62 billion, resulting in 7% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth AmTrustDirect has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. AmTrustDirect has $44.84 billion in assets with $5.58 billion in equity, resulting in a capitalization level of 12.44%, which is excellent.

Institution Statistics

FDIC Certificate #16022
Year Established1859
Primary RegulatorFDIC
Assets and Liabilities
Assets$44.84 billion
Loans$32.26 billion
Deposits$24.73 billion
Equity Capital$5.40 billion
Loan Loss Allowance$177.51 million
Unbacked Noncurrent Loans$239.21 million
Real Estate Owned$65.42 million
Historic Data - June 2013
Assets$41.12 billion
Equity Capital$5.35 billion
Loan Loss Allowance$189.45 million
Unbacked Noncurrent Loans$239.21 million
Real Estate Owned$83.78 million
Profit Margin - Quarterly
Return on Assets1.03%
Return on Equity8.43%
Interest Income$775.32 million
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AmTrustDirect Money Market Rates

0.80%$5k$100mEarn>More Money Market Account

AmTrustDirect CD Rates

1.05%$500-12 Month CD

AmTrustDirect is an Internet only bank and does not have branch locations. Its headquarters is located at 615 Merrick Avenue - Westbury, NY 11590