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Overview / Commentary
800-836-1997
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.

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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.

Great!

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.

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Health
C+

Health Grade Components

Overall
FDIC Certificate #12054
Year Established1850
Employees590
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.7%
Return on Equity - YTD3.99%
Annual Interest Income$146.4MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$6.41B$6.46B
LoansQ2 2017vs Q2 2016$4.31B$4.29B
DepositsQ2 2017vs Q2 2016$4.30B$5.20B
Equity CapitalQ2 2017vs Q2 2016$1.13B$1.11B
Loan Loss AllowanceQ2 2017vs Q2 2016$79.7MM$72.5MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$211.6MM$199.3MM
Real Estate OwnedQ2 2017vs Q2 2016$32.7MM$49.8MM
Rates
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EmigrantDirect.com Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%--AmericanDream SavingsAccount
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