EmigrantDirect.com

Deposits held and insured by Emigrant Bank

Overview / Commentary
800-836-1997
5 East 42nd Street
New York, NY 10017
Deposits held and insured by Emigrant Bank

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
5/26/06 - 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

Emigrant Direct, a solid online bank

I have banked with Emigrant Direct for over 10 years now and I have found them to be a reliable online banking institution. I have not had a checking account with them, however, only a savings account. I started banking with them because they were advertising very competitive interest rates on savings accounts (that was before the financial crisis which led to a severe drop in interest rates), and I still think they do have competitive rates compared to other banks.

I don't access the bank very frequently, but have done a number of transfers over the years, and have never had any problem carrying them out. I have had to call customer service on occasion when I have forgotten my password, and they have always been helpful and have resolved my problems. So I am satisfied with Emigrant Direct, and have no desire to change from them.

Emigrant Direct online bank has high interest savings accounts

My experience with Emigrant Direct Bank has been positive. I have savings accounts with them. When I opened them several years ago, the interest rates were much higher (around 5%). Though they have dropped to .5%, that is still significantly higher than what I am earning from other financial institutions. I have found it easy to make deposits and withdrawals, and my experience with customer service has been positive. I highly recommend Emigrant Direct Bank for anyone who would like to watch their savings grow.

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.

Our Nest Egg Is Gone!

Posted by: MKnorris | Apr 28, 2019

I just finished filing a complaint with BBB. We had over $4500.00 deposited in an online banking account at Emigrant Direct, a division of Emigrant bank. We have not been able to add money to that account for a few years, however we thought our little nest egg was safe with this bank. In February 2019, I logged into our account and the balance was $0.00. I contacted Emigrant bank and the employee I spoke with said that since our account didn’t have activity for 3 years the $4500.00 was sent to Comptroller of the State of Maryland’s office. We completed the paperwork required by the state comptroller and waited 3 months. We received a check for less than $200.00 from the state. We are devastated. Our nest egg is gone. Emigrant Bank robbed us.
1. Emigrant Bank has our email, phone number and our home address, plus the address to our previous home and never contacted us!
Why didn’t they send us an email?
It’s. An. Online. Bank.

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Health
B

Data as of Q2 2019

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

Health Grade Components

Overall
FDIC Certificate #12054
Year Established1850
Employees484
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.52%
Return on Equity - YTD2.51%
Annual Interest Income$152.4MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$5.64B$6.16B
LoansQ2 2019vs Q2 2018$4.11B$4.11B
DepositsQ2 2019vs Q2 2018$4.30B$4.73B
Equity CapitalQ2 2019vs Q2 2018$1.20B$1.24B
Loan Loss AllowanceQ2 2019vs Q2 2018$70.2MM$81.3MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$177.5MM$211.7MM
Real Estate OwnedQ2 2019vs Q2 2018$17.1MM$24.9MM
Rates
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EmigrantDirect.com Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$1-AmericanDream SavingsAccount

EmigrantDirect.com CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.15%$1k-6 Month CD
1.50%$1k-60 - 120 Month CD
1.00%$1k-16 - 59 Month CD
Locations

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

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.