|APY||ACCOUNT TYPE||ACCOUNT NAME|
|1.05%||1-year CD||12 Month CD|
1.05% - Ally Bank High Yield 12-Month CD
|0.80%||Money Market||Earn>More Money Market Account |
0.85% - Ally Bank Money Market Account
|1.25%||2-year CD||24 Month CD|
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.
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.
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.
|FDIC Certificate #||16022|
|Return on Assets - YTD||1.13%|
|Return on Equity - YTD||9.15%|
|Annual Interest Income||$393.3MM|
|Assets and Liabilities|
|Assets||Q1 2016vs Q1 2015||$44.79B$43.97B|
|Loans||Q1 2016vs Q1 2015||$35.60B$32.50B|
|Deposits||Q1 2016vs Q1 2015||$26.66B$26.26B|
|Equity Capital||Q1 2016vs Q1 2015||$5.67B$5.46B|
|Loan Loss Allowance||Q1 2016vs Q1 2015||$161.2MM$173.5MM|
|Unbacked Noncurrent Loans||Q1 2016vs Q1 2015||$172.4MM$207.4MM|
|Real Estate Owned||Q1 2016vs Q1 2015||$15.4MM$68.8MM|
Always verify rates and promotions with the bank or credit union. We are not AmTrustDirect; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|0.80%*||$5k*||$100m||Earn>More Money Market Account|
|OTHER TIERS: 0.10% → Up to $5k|
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|1.25%||$500||-||24 Month CD|
|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