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5 East 42nd Street
New York, NY 10017

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Reviews (4)

APY Yield best

Posted by: alexhabib | May 13, 2015

Of all the online banks I've used, I found dollar savings direct to have the highest rate. When I used them most was when rates were around 4%. The interface is a little old looking, but I never had problems transferring money in and out of the bank. Overall I found that they offered a good service for what I was looking for at the time. If you're looking for a money market account I highly recommend Dollar Savings Direct. At the time I used them they also didn't have an export feature for tax files in TXF format. It was fairly simple to enter this information manually though. With rates at less than 1% I find that it is better just to keep the money in my brokerage account.

A Good E-Savings Account

Posted by: Anonymous | Nov 15, 2010

This is a wonderful e-savings account -- very easy to set up, use, and transfer in and out.  The customer service has been excellent, the few times I dealt with them.  I just wish their APY would rise (as of 11/15/10 -- 1.1%) after being on top of the USA a couple of years ago.  Also, check the strength ratings of this bank...

Rates Well Below Average

Posted by: Tee | May 20, 2014

Rate is way to low to keep your account here...

Rates Well Below Average Now

Posted by: 767 | Dec 31, 2012

I've had this account this 2007. At the time, they were paying a very competitive interest rate. I switched over from Capital One Online Savings Bank. Unfortunately, their rate has steadily declined to below average so it's now time to switch to another bank, American Express. Never had any real problems with them customer service-wise aside from the uncompetitive interest rate.


Health Grade Components

FDIC Certificate #12054
Year Established1850
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.57%
Return on Equity - YTD3.41%
Annual Interest Income$205.1MM
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$6.69B$6.61B
LoansQ3 2016vs Q3 2015$4.40B$3.98B
DepositsQ3 2016vs Q3 2015$4.81B$5.36B
Equity CapitalQ3 2016vs Q3 2015$1.13B$1.09B
Loan Loss AllowanceQ3 2016vs Q3 2015$73.8MM$77.7MM
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$214.0MM$245.6MM
Real Estate OwnedQ3 2016vs Q3 2015$44.1MM$57.5MM
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DollarSavingsDirect Savings Account Rates

0.55%$1k-Dollar Savings Account

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