EBSB Direct

Deposits held and insured by East Boston Savings Bank

Overview / Commentary
101 Meridian Street
Boston, MA 02127
Deposits held and insured by East Boston Savings Bank

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Excellent Experience

Posted by: |

My experience was excellent. Very smooth application process on Friday 10/5. Banking holiday on Monday, then on Tuesday the trial deposits appeared on the other bank and I verified them. I could register for online banking immediately, and I tried to link several banks. All those trial deposits appeared on Wednesday, and the accounts were linked. Also the funding amount was posted, which means one day ACH. A question to the CRSs via the website was answered within a couple of hours, saving the need for a phone call. I tried using the ACH once more to pull funds from one of the linked banks, and the transfer was posted on Thursday (next day). Given the super-fast ACH with high limits (7:00 pm cutoff time) and the DIF insurance, this bank seems to be among the best for a substantial liquid account, and can serve as a better hub than ALLY or ALLIANT. There is a 3 day hold on deposits after the introductory period (1 month), but I can live with that.

Some Differences

Posted by: |

To be allowed to set up links to external bank/brokerage accounts required a phone call to customer service which was unusual. Also bear in mind, "Accounts are considered new for a period of THIRTY (30) days; during this time period those funds transferred from an external account to your account at East Boston Savings Bank will not be available for withdrawal for NINE (9) business days." Using a private consortium, deposits are insured to whatever amount is in your account, beyond the FDIC $250,000 limit.

Asking For Too Much Information

During my online application, EBSB wants to know my annual income plus my net worth. There is no reason they need to know this to open an account. I got out fast and will go somewhere else.

Could Be Better

Posted by: |

I agree with earlier reviewer that the application asks too many unnecessary questions. And like a number of others, I had trouble signing in the first time with the system requiring to send a security code, but it doesn't have the correct phone number on file. After 10 min wait for the rep, I found out that I also need to create Online Banking access via ebsb.com to enable successful sign-in. This is the part that the Open Account instructions from ebsbdirect.com didn't mention.



Data as of Q2 2021

Data displayed below is for insuring bank: East Boston Savings Bank
Learn why bank health matters

Health Grade Components

FDIC Certificate #33510
Year Established1991
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.29%
Return on Equity - YTD11.14%
Annual Interest Income$114.7MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$6.29B$6.42B
LoansQ2 2021vs Q2 2020$4.94B$5.66B
DepositsQ2 2021vs Q2 2020$4.91B$4.84B
Equity CapitalQ2 2021vs Q2 2020$743.8MM$698.8MM
Loan Loss AllowanceQ2 2021vs Q2 2020$64.3MM$60.5MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$9.8MM$3.2MM
Real Estate OwnedQ2 2021vs Q2 2020$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

EBSB Direct Money Market Rates

0.05%$10-Money Market Special 3 - New Money

EBSB Direct CD Rates

0.05%$1k-15 Month CD

EBSB Direct is an Internet only bank and does not have branch locations. Its headquarters is located at 101 Meridian Street - Boston, MA 02127

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.