Average User Rating:3.5 star rating based on 2 reviews.
EmigrantDirect.com
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5 East 42nd Street New York, NY 10017 1-800-836-1997 www.emigrantdirect.com  |
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EmigrantDirect.com is headquartered in New York and is the 11st largest bank in the state of New York. It is also the 108th largest bank in the nation. It was established in 1850 and as of December of 2012, it had grown to 902 employees at 33 locations. EmigrantDirect.com has a 4-star health rating.
Related Posts
Rate Drops Continue (Forum) - 9/8/2011
Along with Dollar Savings Direct, Emigrant rate is Down to .70% down from .75% Newtown Savings esavings dropped to .90% down from 1% Newtown Saving Bank | Site Error Vanguard Prime MM is a very sad .01%. I don't know how long Discovers' 1.10% will h
Emigrantdirect Cuts Savings Account Yield To 0.90% (Forum) - 1/30/2011
The savings account yield fell from 1.00% to 0.90% APY at Emigrant Direct. I guess this should have been expected after DollarSavingsDirect recently cut its yield to 1.00%.
Data for Q4 2012
Institution Statistics
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Institution Health
Overall Score:
4 out of 5 
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Pleased With Americandream Savings Account
- moneyfanatic2 - Monday, September 13, 2010 - 2:03 PMI recently signed up for an AmericanDream Savings Account online. I'm really pleased with the process of setting up the account, as well as all of the options offered with online banking. The 24/7 access is really a plus to me and has already saved me countless hours from going to and from a physical bank. I was looking for a savings account with 1.00% annual percentage yield and great customer service. I would recommend this online bank to others due to its swift processing, reliability, and excellent customer support.
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Emigrant Direct-- A Good "Bridge" Bank
Emigrant Direct used to be one of my favorite internet banks, but their once high rates are merely competitive now. I still maintain a small balance in an "American Dream Savings" account (1.00% rate). ACH transfers are easy to/from which is a plus.
A bigger plus is their flexible term "My Way CDs" with rates as follows:
16-40 months: 1.50% 41-59 months: 2.00% 5yr-10yr: 2.50%
Their CDs make for convenient "bridges" to future maturing CDs. For example, say you have a CD maturing in 17 months (an odd term) and you want to add to it and make a larger CD at that time. Further, you want to get a decent return for the "add-on" money in the interim. The Emigrant Direct CD structure allows you to create a CD to meet this need--and 1.50% isn't bad for a 17 month CD.
A word of caution, however. Emigrant's rating is down to just 1-star according to bankrate.com -- it's lowest score. So be extremely cautious in staying within the insurance limits under FDIC.