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EmigrantDirect's New Website


It appears EmigrantDirect's launch of its new website has not gone too well. The new site has been inaccessible for many (including myself) throughout the day. It was suppose to be ready at 9:00am EDT this morning. The problem appears to be that too many Emigrant customers are trying to log in and this is overloading the servers. Seems like Emigrant should have planned better. An unplanned day of not being able to access your account can be a problem for those who need to transfer money.

Better Security

Some have reported being able to log in using the new access code that had been mailed to customers. You have to come up with a new password of at least 10 characters. Then you have to select 5 new security questions. Just like ING Direct's login, you'll be asked one of these questions in addition to your password in future logins. I don't have a problem with this extra login step, however, I don't know how much it will help security. I suppose it'll make it a little harder for key logger programs and hackers to access your account.

New Account Numbers

One important change that has been noted are new account numbers. I'm surprised Emigrant didn't mention this. If you had created a link at another bank account (like at HSBC) to your Emigrant account, this will likely no longer work. It's not clear if you will be able to re-establish a new link from an external account. Perhaps it's going to follow ING Direct in this regards. With ING Direct you can't create a link from an outside account to your ING savings account. You have to send in a check and create the link inside ING Direct. I can see how this can improve security. It should reduce the chance that someone could do a fraudulent ACH withdrawal from your account. However, it makes transferring money to other high yield accounts more time consuming.

I'll report on more once I'm able to log in. Feel free to leave a comment on your opinions or observations on the new site.
  |     |   Comment #1
I tried to get logged in using my new acct no. but no luck. It said not valid. Will try again when I can get the web site up.
  |     |   Comment #2
I got set up and I am able to log in and roam about. It's too bad EmigrantDirect paid attention to those who complained their site was "too simple". The old site was perfectly adequate and intuitive. The new one adds nothing but uneeded window dressing.

Not sure if the additional 4 numbers after the ***s in the account number constitute an entirely new account number or not. I'm trying to get hold of a CSR on the phone right now.
  |     |   Comment #3
"Seems like they should have planned better"? They planned just fine by rasing rates to 5.15%. We already knew their site was crap, (I've seen better work on Nigerian Scam sites) and we knew we were taking a risk with them, but for that kind of return what can we expect. If we want safe, go to HSBC or ING.
  |     |   Comment #4
Stop ****ing you morons. The site is fine.
  |     |   Comment #5
I tried for several hours yesterday afternoon to access my account. This morning, it is even worse. Their website has been totally down.

Guess I'll have to find another bank. This is not acceptable.
  |     |   Comment #6
Whoever wrote that their "site is fine", must work for EmigrantDirect. My wife and I have 3 accounts at EmigrantDirect--almost $400,000. We are not pleased at all.

There are just too many "red flags" right now, especially with EmigrantDirect falling to only a 2 star rating. The fact that their website has been inaccessible since last week is the straw that broke the camel's back. We are looking for another place to put our money.

Any good suggestions?
  |     |   Comment #7
today is 7 am , denver, colo. time - i still cant get into my account.
  |     |   Comment #8
I find the new site great, I am always for more security. I like that you can now see pending transfers and can add a beneficiary right online. I had the same problems as everyone else yesterday but as of this morning no problems. I am sure so many going to site at the same time caused problems. Usually you just go and spend a couple of minutes but yesterday people were trying to put all that new login stuff in and probably spending a decent amount of time, So the fact we overloaded the site should come as no surprise.
  |     |   Comment #9
No I don't work for EmmigrantDirect. Take your money to another account then....

The site works fine.
  |     |   Comment #10
The site is unavailable at this time. I got in last night, but apparently it is flooded again.

If you change the beneficiary you will be issued a new account number. Where does it end?

The old site was just fine.
  |     |   Comment #11
"Any good suggestions?"

Yes. Open a Treasury Direct account and link it to your checking account. U.S. Treasuries are safer than "money in the bank".
  |     |   Comment #12
After the alleged leak of email addresses by ED to spammers, I have only $1 with ED now.

FW link
  |     |   Comment #13
another significant change i noticed is:

it seems you can link Multiple outside accounts now (previously it was only 2)
  |     |   Comment #14
emigrantdirect is owned by Emigrant Savings Bank in NY. NOT Emigrant Bank.

I am not seeing that Emigrant Savings Bank has been downgraded to 2 stars.

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