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Wednesday, February 1, 2012 - 10:05 PM

Why Is Amtrustdirect Not More Popular Here?

AmTrustDirect (4 stars)
Their MMA account currently yields 1.15% for balances above $5K but there is barely any discussion on this website.

Thanks.
4
unmeshunmesh3 posts since
Oct 20, 2010
Rep Points: 33
1. Thursday, February 2, 2012 - 9:36 AM
I had an CD account with them once. When it came time to close the CD, they insisted they did not have to give it back to me on the day of maturity, could take the entire time of the grace period to close it. And of course, during that grace period, I would accrue no interest if I chose to close it. I argued that grace period did not apply to them but to me. It was a big, and in time nasty argument back and forth for two weeks proceeding the closure and escalating up the ranks. 

Yes, finally, at the last minute, they just made sure I got it at day of maturity -- but not because it is policy to do so, but because I had created such trouble for them and they didn't want more and because I was seriously threatening lawsuit and possible class action. 

That's why I will never do business with them again.
8
me1004me1004294 posts since
Jan 16, 2010
Rep Points: 1,870
2. Sunday, February 19, 2012 - 5:35 AM
I won't use them because according to the FAQ on their website, " Premium e-Money Market Accounts cannot have beneficiaries."
4
bwk1954bwk19542 posts since
Dec 8, 2011
Rep Points: 10
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