Featured Savings Rates
Featured Accounts

AmTrustDirect

Popular Accounts at this Bank

APYACCOUNT TYPEACCOUNT NAME
1.05%1-year CD12 Month CD
1.00%Money MarketEarn>More Money Market Account
1.25%2-year CD24 Month CD

Overview / Commentary
888-228-8146
615 Merrick Avenue
Westbury, NY 11590

Related Posts

Amtrust Bank - A Division Of New York Community Bank Offering A 12 Month CD Rate Of 1.35% - 2/14/2016

You have to also open a NYCB Elite Gold Checking with $5000.minimum in order to get the advertised CD rate of 1.35%. So in effect if you open a CD for $100,000 and put $5000. in the checking your actual effective CD rate earned after a year would only be 1.286% if you have to leave $5000. earning no interest for the year.  After reading the fine print in the newspaper, It may be that as long as you keep the combined CD balance of the CD and the checking at least $100,000. that you will avoid any monthly fees. If this is the case, you would draw down the checking to $1.00 shortly after opening to avoid any fee and then close the checking when your CD matures in a year. I am in South Florida Miami area and understand that New York Community Bank took over Amtrust Bank but am not sure Nationwide where additional branches are located. There is a web address myNYCB.com

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9/5/11 - Top Money Market and CD Rates at AmTrust Bank
2/20/10 - Review of AmTrust Direct's Internet CDs - Available Nationwide
1/25/10 - AmTrust Direct Back with 1.70% APY 12-Month CD [BestCashCow]
12/2/09 - AmTrust Financial Files for Bankruptcy - Future of AmTrust Bank?
11/26/08 - Troubles at AmTrust Bank
10/18/08 - Another New Savings Account at AmTrustDirect
9/28/08 - 4.25% 6-Month Online CD at AmTrustDirect
9/12/08 - AmTrustDirect Raises CD Rates, 6-Month CD Yield is Now 4.15%
8/2/08 - AmTrustDirect's New 4.00% e-Savings Account Promotion
7/24/08 - AmTrustDirect Raises CD Rates, 12-Month CD Yield is Now 4.30%
7/15/08 - AmTrustDirect Raises CD Rates, 12-Month CD Yield is Now 4.15%
7/15/08 - AmTrustDirect Raises CD Rates - 4.00% APY for One Year and Longer
5/31/08 - 4.00% 18-Month / 3.75% 12-Month CD at a Florida Bank (AmTrust )
2/22/08 - More Falling Savings Account Rates - Big Drop at OneUnited
2/6/08 - AmTrustDirect's $50 Bonus for 3 Months of Automated Transfers
2/6/08 - AmTrustDirect's 5.11% 3-Month Guarantee on its e-Savings Account
10/18/07 - More Falling Yields at Online Savings Accounts: Capital One, AmTrustDirect, Zions
5/29/08 - AmTrustDirect Introduces e-Savings Account with 5.36% APY for 90 Days
9/22/07 - Falling Saving Account Rates: GMAC, AmTrustDirect, Apple, BofA DoW Money Market
10/23/07 - AmTrustDirect e-Money Market Yield Falls to 5.31%
8/22/07 - AmTrustDirect Money Market Account Can Now Be Opened with $1
7/7/07 - Post HSBC Promo - Savings Account Alternatives
2/15/07 - AmTrustDirect Raises e-Money Market Account to 5.36%
1/18/07 - 6.00% 6-Month Money Market Account Promo Continues at AmTrust Phoenix Branch
11/17/06 - $25 e-Money Market Account Bonus for Existing Customers at AmTrustDirect
10/13/06 - False Alarm at AmTrustDirect - e-Money Market Will Remain at 5.30%
10/13/06 - Big Drop in AmTrustDirect's Savings Account Rate
10/12/06 - AmTrustDirect Raises 12-Month CD Rate, Drops Long Term Rates
9/27/06 - AmTrustDirect Raises e-Money Market Account Rate to 5.30%
9/8/06 - AmTrustDirect Raises e-Money Market Account Rate to 5.26%
8/17/06 - New 5.15% Online Savings Account at AmTrustDirect
7/6/06 - AmTrustDirect CD Rate and Policy Update
6/29/06 - 5.60% 12-Month CD at AmTrustDirect
5/27/06 - 5.41% 12-Month / 5.30% 9-Month CD at AmtrustDirect
5/2/06 - 5% Money Market Account at AmTrust in Arizona ($50K+)
4/28/06 - 5.30% 12-Month CD at GMAC Bank and AmTrustDirect
4/21/06 - New Online CD Rates at AmTrustDirect, M&T Bank
4/10/06 - High Yield CDs at New AmTrustDirect

Why Is Amtrustdirect Not More Popular Here?

Posted by: unmesh | Feb 1, 2012

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

Thanks.

Customer Unfriendly ...

Posted by: mikek753 | Feb 24, 2012

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.

AVOID Amtrust Bank!

Posted by: MacJones | Oct 17, 2014

I tried to contact Doreen Rast, the top executive at AmTrust Bank in Arizona. After leaving two voice mail messages to please return my call, I was ignored. I wanted to discuss the fact that none of the tellers at the Chandler Road branch and at the Ray Road/I-10 branch was capable of processing a simple deposit or intra-bank transfer of funds within less than 30 minutes. I wonder if the computer system used by AmTrust is so complicated and difficult to operate that new tellers, which these employees were, need multiple months of training in order to operate the system. It was a very frustrating situation for me, since I had banked with AmTrust for over 5 years and always received excellent service at my
Chandler Road branch, until AmTrust transferred all of the competent bankers to Scottsdale branches and left my branch with a few inept rookies. After I complained to the branch manager about the poor service and the inexplicable delays in processing even the most simple of deposits (all cash), the "back office" and "security department", as the branch manager warned me, determined to close all 5 of my and my wife's accounts at AmTrust within two weeks, in spite of my requesting enough time for my direct deposit arrangements (such as my Social Security monthly benefit)to be changed over to Bank of America, where all of my accounts have been relocated. I am a retired old man and can't afford to not receive my Social Security benefit each month, but AmTrust Bank didn't care. They decided that instead of doing something positive about their incompetent tellers, they would simply get rid of an unhappy customer. The AmTrust branches I visited were always completely empty, except for the employees. Perhaps they took so long to process my banking transaction because they needed something to do to keep from climbing the walls out of boredom. I, for one, strongly recommend anyone whose time is valuable to them to avoid AmTrust Bank. There are other, better alternatives out there for someone looking for a bank where they can consistently expect good, efficient service, caring management and the benefits associated with banking at a large and well-established institution, instead of a bank that almost went bankrupt and with few locations, where your time is considered to be of little consequence.
A word to the wise: AVOID AMTRUST BANK.

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

Posted by: cpg2 | Apr 9, 2012

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.

 

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Health
A+

Health Grade Components

Overall
FDIC Certificate #16022
Year Established1859
Employees2082
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.12%
Return on Equity - YTD8.94%
Annual Interest Income$1.17B
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$45.90B$44.93B
LoansQ3 2016vs Q3 2015$36.91B$33.55B
DepositsQ3 2016vs Q3 2015$26.79B$25.77B
Equity CapitalQ3 2016vs Q3 2015$5.80B$5.47B
Loan Loss AllowanceQ3 2016vs Q3 2015$155.9MM$166.9MM
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$159.0MM$187.2MM
Real Estate OwnedQ3 2016vs Q3 2015$12.4MM$23.6MM
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

AmTrustDirect Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%*$25k*-Earn>More Money Market Account
OTHER TIERS: 0.10% Up to $5k | 0.80% $5k - $25k

AmTrustDirect CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.25%$500-24 Month CD
1.05%$500-12 Month CD
Locations

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