ACH 226070403
Reviewed by J Dally | June 13, 2023 |
I'll steer clear of Dollar Savings Direct and My Savings Direct until they guarantee users at both online divisions their best rates. Banks have the right to segment their customers yes, but these games with moving rates at one and not the other are silly and don't value us and force us to move money all around to stay competitive.
| Online Savings and Money Market Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| High Interest Savings Account
|
4.85% | $0 | - |
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|
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Month CD
|
4.00% | $1,000 | - |
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|
| 12 Month CD
|
3.50% | $1,000 | - |
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|
| 16 Month CD
|
3.50% | $1,000 | - |
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|
| 18 Month CD
|
3.50% | $1,000 | - |
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|
| 24 Month CD
|
3.00% | $1,000 | - |
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|
| 36 Month CD
|
3.50% | $1,000 | - |
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|
| 60 Month CD
|
3.00% | $1,000 | - |
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|
Emigrant has dropped the savings rate offered by both of its online banking subsidiaries.
This Emigrant bank subsidiary has lowered its savings rate by 10 basis points for the second time in a week.
This is the bank's third 10 basis point cut in less than 3 weeks. Whereas most banks make quick cuts, this Emigrant subsidiary seems to opt for something akin to water torture.
This 10 basis point drop follows a 10 basis point drop two days ago, and 2 earlier ones within the last two weeks. Drip, drip, drip.
Dollar Savings Direct has made its 5th 10 basis point rate drop this month, leaving its online savings rate at 1.00% APY.
Lowered from 0.75% today. What else did you expect from Emigrant Bank?
A nice move from an online bank that was the rate leader until earlier this year.
This is down from 0.50% and a far cry from a year ago when the Emigrant subsidiary offered the most competitive online savings rate in the industry.
Emigrant Direct's subsidiary is back.
The bank raised its rate from 3.05% to 3.11% APY this morning.
Dollar Savings Direct, a division of Emigrant Bank is encouraged to provide us with this information. When we receive this information from the online bank, we will provide it here.
Customer Reviews for Dollar Savings Direct, a division of Emigrant Bank (28)
J Dally
June 13, 2023 |
I'll steer clear of Dollar Savings Direct and My Savings Direct until they guarantee users at both online divisions their best rates. Banks have the right to segment their customers yes, but these games with moving rates at one and not the other are silly and don't value us and force us to move money all around to stay competitive.
Is this review helpful? Yes:0 / No: 0
TresFois
October 17, 2022 |
This is my third time around the block with Dollar and Emigrant. There is always a time to come and a time to go. It is an easy bank to work with and as long as the rate is competitive, it is fine. So, with the rate at 3.11% and most banks below 3%, this is a time to come.
Is this review helpful? Yes:1 / No: 1
james
September 27, 2022
has strange old rules for link external bank , takes more time and difficult for no check writing today, just want advised for their name and dont want you deposit money to their bank for 3% interest.
Is this review helpful? Yes:0 / No: 5
YE1971
September 25, 2022 |
Had bad experiences before but they kept the account open with a zero balance for years. I'll try again and hope for a better outcome.
Is this review helpful? Yes:0 / No: 0
Disagreeing
September 23, 2022 |
I disagree strongly with some of the other reviews here. This is a known bank in New York with a functional website. Sure they play games with the different rates on different sites, but it is worth betting that they'd be too smart to lower the rate now. It is 3% now. You need to ignore the nonsense and take what comes at you. Just pay attention. Would you really rather be in Barclays @ 2 or Ally @ 2.1?
Is this review helpful? Yes:2 / No: 1
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