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Overview / Commentary
5 East 42nd Street
New York, NY 10017

EmigrantDirect is an online division of Emigrant Bank, an institution established in 1850 and headquartered in New York, NY. As an internet-only bank, EmigrantDirect offers its customers quick and safe access to their funds at any time through online banking.

At the time of this writing, EmigrantDirect offers only one deposit account product: a no-fee, interest-bearing online savings account. The bank also offers its customers access to the purchase of precious metals (primarily gold) through the bank. Funds deposited with EmigrantDirect are FDIC-insured (up to applicable limits) through the parent bank, Emigrant Bank. Of course, precious metals purchased through EmigrantDirect are not insured by the FDIC.

Related Posts

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12/18/07 - Emigrant Direct Lowers Savings Account Rate - Spanish Version Remains at 5.05%
10/19/07 - 5.05% Savings Account at Emigrant Direct's Spanish Equavilent - BancoFortuna
5/3/07 - New Ways Emigrant Direct is Trying to Grow
1/11/07 - Emigrant Bank's Rating Up from 2 to 4 Stars
9/30/06 - EmigrantDirect Down to 5.05%, Suffering from ING-itis?
8/7/06 - US News Article on EmigrantDirect
7/28/06 - Emigrant's Savings Account at 5.15% as Expected, No Change to CD Rates
7/25/06 - First Impressions on EmigrantDirect's New Website
7/24/06 - EmigrantDirect's New Website
7/13/06 - EmigrantDirect Raising Rate to 5.15% on July 28
7/10/06 - Emigrant Bank Downgraded to 2 Stars
7/4/06 - EmigrantDirect Now Officially at 5%
7/3/06 - EmigrantDirect Savings Account to 5% on July 4th
6/22/06 - EmigrantDirect Savings Account Now 4.80% - Better Alternative?
6/5/06 - EmigrantDirect Updating Website
5/28/06 - EmigrantDirect Press Release - 5% CD rather than 5% Savings Account
5/26/06 - EmigrantDirect Savings Account Now at 4.65%
4/15/06 - EmigrantDirect's 5% CD Terms Now 9-Months and Up
3/24/06 - EmigrantDirect Increases Cash Back on Credit Card
3/15/06 - EmigrantDirect Now at 4.50% - Plus New 5% CDs
2/1/06 - No-Minimum High Yield Savings Account Small Print
1/26/06 - EmigrantDirect Now at 4.25%
1/20/06 - EmigrantDirect Releases Cash Back Card
1/5/06 - ACH Problems at EmigrantDirect?
10/31/05 - EmigrantDirect to 4.25% after Fed Mtg Tomorrow?
10/16/05 - Deposit Availability Times for EmigrantDirect and ING Direct
9/21/05 - Highest Cash Back Credit Card from EmigrantDirect?
9/8/05 - EmigrantDirect's Gift to Members Affected by Katrina

Nice Online Bank

I have been using Emigrant Direct for several years and have had a savings account and three CDs with them over this time period. I use the savings account as my primary savings for life, and have invested money in CDs with them several times. I was very happy with their interest rates and think they are competitive within the market. I have dealt with their customer service agents on several occasions trying to change the name on my account. Even though they are just an online bank, I have received very good customer service from them, and have absolutely zero complaints. I would highly recommend this bank to anyone who uses mobile banking and usually transfers money between multiple accounts and banks.


Posted by: JTDC1019 | Dec 22, 2016

I've been banking with Emigrant Direct for several years and am very happy with their services and products. Currently, I have a savings account and a high-yield CD with them. It makes paying bills and transfers convenient and easy and I've been able to link all my other accounts without issue. The site is super user friendly and easy to set up with payment alerts and get electronic bills from my other cards and accounts. The login seems very secure and makes me feel comfortable that my information and identity is safe. They offer high-interest paying savings accounts and several other investment options. I've had many CD's with them throughout the years, and am very happy with their customer service. I would absolutely recommend this bank (and have before!) to my friends and family. I haven't had any issues and am very satisfied.

Emigrant Direct

Posted by: j404dzb | Oct 20, 2015

We have had our emergency savings with Emigrant Direct for about 10 years now and have been happy with it. The interest is always higher than our local bank. It hasn't been much in the last few years but that has been across the board. Emigrant is very easy to setup transfers between accounts and usually when I have had to make a transfer, the money is in our checking account within two to three days. In January, they are always one of the first institutions I deal with to have tax forms out online and ready for me. I have only had a few times where I had to deal with customer service but each time they have been very helpful and very responsive. I have never had any fees charged to me for this account. Overall, if you are looking for an online bank with a little higher interest rate, I would recommend Emigrant Direct's American Dream savings account.

Not the Best, Not the Worst

Posted by: CNX047 | Feb 9, 2015

I first set up my account many years ago, because I was enticed by a larger interest rate offered to me by a promotional mailer. The set up process was outdated, clunky and unresponsive. It really took far too long to set up than it should have. All together it took nearly two weeks to get the account funded and up and running. Customer service is lacking in many ways. I had needed help with a lost password and they were basically no help, I was finally forced to resolve the issue on my own. They generate a fair amount of paper as well, I'm not too pleased with the various offers, flyers, etc. that come to my address despite requesting that these stop. Interest rate is paltry now and quite frankly I wouldn't bother anymore.



Health Grade Components

FDIC Certificate #12054
Year Established1850
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.8%
Return on Equity - YTD4.57%
Annual Interest Income$72.7MM
Assets and Liabilities
AssetsQ1 2017vs Q1 2016$6.31B$6.65B
LoansQ1 2017vs Q1 2016$4.29B$4.09B
DepositsQ1 2017vs Q1 2016$4.24B$5.41B
Equity CapitalQ1 2017vs Q1 2016$1.11B$1.11B
Loan Loss AllowanceQ1 2017vs Q1 2016$77.7MM$76.7MM
Unbacked Noncurrent LoansQ1 2017vs Q1 2016$232.9MM$238.5MM
Real Estate OwnedQ1 2017vs Q1 2016$37.2MM$53.4MM
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EmigrantDirect.com Savings Account Rates

0.50%--AmericanDream SavingsAccount

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