Dedicated to Deposits: Deals, Data, and Discussion

AmTrustDirect Raises e-Money Market Account Rate to 5.30%


AmTrustDirect just did a small rate bump on its e-Money Market account to 5.30% APY (from 5.26%). The APY applies to balances of $1 and higher. There are no minimum balance requirements, however, there is a minimum initial deposit requirement of $1,000. This is a new savings account that I first reported on in an August.

Currently, E-LOAN's new savings account has a big lead on yield (see post). However, AmTrustDirect has some better features such as the ability to link up to 6 additional accounts, the ability to fund the account by check and full phone access for account opening and service.

One of the downsides with AmTrustDirect's e-Money Market Account is a potential hard credit pull. However, a few who have opened this account have reported no hard pulls. Also, I have received definite confirmation that they no longer do hard credit pulls for opening a CD.

For more information on AmTrustDirect, please refer to this August post. Also, many commenters have provided their experiences with this e-Money Market account in this post.