Deposits held and insured by Emigrant Bank

Overview / Commentary
5 East 42nd Street
New York, NY 10017
Deposits held and insured by Emigrant Bank

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DollarSavingsDirect Savings Account Is New Rate Leader - 9/21/2022

Emigrant Bank’s second online division, DollarSavingsDirect, increased the rate of its Dollar Savings Account, and it's now the rate leader for online savings accounts.

First Online Savings Account To Reach 3% APY - 9/20/2022

DollarSavingsDirect just increased the rate of its online savings account from 2.00% to 3.00% APY! This is one of the three online divisions of Emigrant Bank. The oldest online division, EmigrantDirect, was the first to offer a 3% APY savings account back in the 2004-2006 rate hiking cycle. I'll have a blog post on this soon. I just wanted to get the news out ASAP. It's now listed at the top of our savings account rate table.

Rate Increase - 5/12/2022

Noticed DollarSavings bumped up their rate to 0.75% APY today, effective 6 May. Earlier this year it was 0.35%.

View all posts from:

9/14/18 - 2.25% Annual Percentage Yield Certificate Deposit 6 Months
8/1/18 - 6 Month CD, 2.15%APY, $1000 Minimum
7/27/18 - No Longer Claims To Be Top Rate In America.
2/27/18 - DollarSavingsDirect Leads With Savings Account
2/27/18 - Dollarsavingsdirect's Savings Account Rate Now 1.80% APY
1/15/18 - DollarSavingsDirect Raises All CD Rates
1/12/18 - Higher CD Rates Now Offered: [email protected]% Up To [email protected]%
1/3/18 - DollarSavingsDirect Offers Top Savings Account Rate
11/14/17 - Dollarsavingsdirect Has Added CDs
11/9/17 - To Our Valued Customers
10/31/17 - Savings Account Now 1.50%
7/13/17 - DollarSavingsDirect Offers Highest Savings Account Rate
5/16/17 - DollarSavingsDirect Raises Dollar Savings Account Rate
4/6/17 - DollarSavingsDirect Boosts Dollar Savings Account Rate
6/21/13 - New Top 12-Month CD Rate at DollarSavingsDirect
6/7/13 - Competitive 16-Month CD Rate at DollarSavingsDirect
12/21/12 - Second Dollar Savings Direct Rate Decrease This Month To 0.55%!
12/1/12 - Rate Decreased From 0.70% To 0.60%
10/7/11 - 4th Rate Drop This Year And Counting...
9/8/11 - Rate Drops AGAIN!
8/15/11 - More Rate Drops
4/22/11 - Rate Decrease (4457)
1/30/11 -'s History & Closing Tips
1/21/11 - Dollar Savings Direct Rate Decrease
9/20/10 - Rate Decrease
8/20/10 - Closing A Dollar Savings Direct Account
6/16/10 - Comparing CDARS with DollarSavingsDirect's CD
6/8/10 - Update on DollarSavingsDirect's 16-Month CD and Emigrant Bank
5/12/10 - Dollar Savings Direct & Emigrant Direct Savings Account Rates Fall
3/3/10 - Dollar Savings Direct Cuts Savings Account Rate to 1.30%
2/9/10 - Emigrant Bank Cuts Rates at DollarSavingsDirect and EmigrantDirect
1/2/10 - 2.25% 16-Month CD at DollarSavingsDirect - Available Nationwide
12/4/09 - Emigrant's New Internet Bank: DollarSavingsDirect
3/17/09 - Dollar Savings Direct Cuts Savings Account Rate Again - Options and Issues to Consider
3/17/09 - ACH Transfers and Linking External Accounts at Dollar Savings Direct
3/3/09 - DollarSavingsDirect Savings Account Yield Falls to 3.50% - Alternatives?
2/6/09 - 4.00% 16-Month Online CD at Dollar Savings Direct
10/8/08 - DollarSavingsDirect Raises Savings Account Yield to 4.00%

I Never Had Problems With Emigrant Bank (Parent Co Of Dollar)

Posted by: |

I opened an account many years ago and:
Trust account - no problem
Personal - no problem
Joint account - no problem
Deposit/Withdrawal - no problem
Beneficiary - ONE ONLY per account
Customer service - pretty good

Account Holder Since 2017

Posted by: |

Yes, they have a few quirks but the rate rules right now. Transfers in and out are fast.

60 Days Advance Written Notice

Posted by: |

Dear Valued Customer,

Thank you for contacting DollarSavingsDirect regarding our Account Disclosure. We truly appreciate this opportunity to assist you.

As stated in the Refusal to Permit Withdrawal section within the Account Disclosure: The Bank may refuse to permit withdrawals in cases such as, but not limited to, the following:

The Bank chooses to exercise its legal rights to require up to 60 days advance written notice of any intended withdrawal from this Account and the 60 days have not passed since we received the required notice from you; ...

This legal right is granted to the bank under NYS Banking Law Section 238-2. Emigrant Bank has been in operation since 1850 and has never exercised that right.

Emigrant Bank is a well-capitalized institution and is one of the oldest and strongest banks in the country.

If you have any questions, please do not hesitate to contact us at 1-866-395-8693. We are here to assist our customers seven days a week from 8:00 AM to 11:30 PM ET.

Once again, thank you for contacting DollarSavingsDirect.

They Don't Allow Any Withdrawals Initiated From External Banks!!!

Posted by: |

"You may make a withdrawal from your Account through electronic funds transfer to the External Account by logging on to our Web site. You may not withdraw funds by any other means."

This and other unusual terms & conditions are disclosed by the bank only upon your reaching the last page of the online application, after providing all your personal information and initial funding the account.



Data as of Q2 2022

Data displayed below is for insuring bank: Emigrant Bank
Learn why bank health matters

Health Grade Components

FDIC Certificate #12054
Year Established1850
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.34%
Return on Equity - YTD1.43%
Annual Interest Income$126.2MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$5.61B$5.75B
LoansQ2 2022vs Q2 2021$4.14B$4.18B
DepositsQ2 2022vs Q2 2021$4.08B$4.24B
Equity CapitalQ2 2022vs Q2 2021$1.38B$1.26B
Loan Loss AllowanceQ2 2022vs Q2 2021$79.3MM$78.7MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$224.5MM$202.0MM
Real Estate OwnedQ2 2022vs Q2 2021$19.1MM$8.1MM
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Always verify rates and promotions with the bank or credit union. We are not DollarSavingsDirect; we are a rate comparison website and cannot provide official rates or promotions.

DollarSavingsDirect Savings Account Rates

3.01%--Dollar Savings Account

DollarSavingsDirect CD Rates

2.75%$1k-60 Month CD
2.00%$1k-12 Month CD
2.00%$1k-16 Month CD
2.00%$1k-6 Month CD
2.00%$1k-24 Month CD

DollarSavingsDirect is an Internet only bank and does not have branch locations. Its headquarters is located at 5 East 42nd Street - New York, NY 10017

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.