Dollar Savings Direct, a division of Emigrant Bank Reviews (28)

Rated 2.74 stars out of 5 - based on 23 reviews with ratings

  • Jun 13, 2023 |

    Online Savings Rates

    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.

  • Oct 17, 2022 |

    Online Savings Rates

    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.

  • Sep 27, 2022

    Online Savings Rates

    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.

  • Sep 25, 2022 |

    Online Savings Rates

    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.

  • Sep 23, 2022 |

    Online Savings Rates

    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?

  • May 10, 2021 |

    Online Savings Rates

    Dollar Savings Direct is as close as anything gets to a scam without being labeled a scam. CDs renewing below market rates at no notice. Savings rates going above market levels and then way below (again no notice). A barrage of letters and emails imploring you to buy gold and store with them (more costly than ETFs like GLD, IAU, AAAU).

  • Sep 30, 2020 |

    Online Savings Rates

    Website hasn't been working for over a week now. Just great how they manage to go down as rates start to fall. :) I am so very done with this nonsense.

  • Jun 16, 2020 |

    Online Savings Rates

    Howard Millstein is a prick with all over his bait and switch games. Rate is always quietly falling by 10 basis points and going to zero.

  • Jun 6, 2020 |

    Online Savings Rates

    DSD is fine as long as you check the rate everyday. One day you wake up and it is paying zero. Then you switch to dollarsavingsdirect. Never stay over $250k in the two combined. Emigrant Bank plays bait and switch, but they usually keep one of the two very competitive.

  • Oct 31, 2019 |

    Online CDs 60 Month Rates

    I have a savings account with MySavingsDirect and these make me close it, move the money out, open a new account with Dollar Savings Direct, fund it, finally get the money transferred. I lost 2 weeks of interest in order to get a 5-year CD at 2.80%. It is all Emigrant!

  • Sep 6, 2018 |

    Online Savings Rates

    It is a great strategy. Three brands - Emigrant Direct, My Savings Direct and Dollar Savings Direct. As if on a carrousel, one is always high, one is always competitive, and one is always not competitive. It is a great gig that screws every customer, except those that have the time to switch out quickly.

  • Jun 26, 2018 | | Replies 1

    Online Savings Rates

    I am not sure where all of the 3 star reviews are coming from. I have been with them for several months. Their rate has held at the same 1.80% level now and is no longer competitive, especially given how poor their customer service is.

    lenny | Aug 17, 2018

    because APR is no longer competitive I want to go else where unless they raise rate.

  • Mar 26, 2018 |

    Online Savings Rates

    They wouldn't link to my Morgan Stanley account or my Merrill Lynch account, but otherwise I have been very pleased with this since opening 6 months ago. They raise their rate faster and higher.

  • Mar 19, 2018 |

    Online Savings Rates

    I would prefer a website that looked a little more like a bank's, but the rate is working nicely for me.

  • Mar 7, 2018 |

    Online Savings Rates

    Some minor incnveniences in the setup, but It works and you can't beat the rate!

  • Feb 28, 2018 |

    Online Savings Rates

    opened acct here a few months ago. been very pleased, especially since when I check back on this site, it looks like all of the other banks are reactive to there moves. have had problems loging in at times but would open it again.

  • Feb 20, 2018

    I have used Dollar Savings Bank for about 10 years and only left them when their rates got a little low in 2013. Never had a problem and now I am back since they have the highest rates in the country. GREAT SAVINGS BANK AND NO PROBLEMS AT ALL EVER.

  • Feb 2, 2018 |

    This is the only bank I know that requires someone to use a checking account only for all ACH transfers. You can add a second checking account for ACH use only by mailing them a form and waiting for them to process it. The only wire transfer they will allow is also to your designated checking account. They obviously do not find customer satisfaction to be a priority and find their own preferences to be more important.

  • Jan 7, 2018 |

    Online Savings Rates

    I opened the acct a few months ago when rate was around 1.40%. Opened a separate acct at CIT at 1.35%. CIT dropped my rate to 1.05% while these guys raised it twice now. Been very pleased so far.

  • Nov 26, 2017 |

    Online Savings Rates

    I tried to open an account and was denied because on my application I used my full name-first, middle, and last. My funding account was listed under my middle name since this is the name I have used my whole life. I called them hoping to clear up the problem and was told I would have to get a letter from my bank sent to them saying that I was who I said I was and send them a copy of my driver's license...While I can appreciate their diligence in vetting, I was very disappointed in the lack of customer service in fixing the problem.

  • Aug 17, 2017 |

    Online Savings Rates

    Transfer times in and out are super fast and that is the most important thing to me. Very pleased.

  • Aug 7, 2017 |

    outdated web design but fairly simple to use so far so good but hope they keep their rates up!! (1.40%)

  • Jul 13, 2017 | | Replies 1

    Online Savings Rates

    Their rates do tend to drop after 6-12 months (they rotate the high rate to another of their brand names), but while it lasts, it works great. Website is simple/efficient (I don't need pretty, just pay me the best rate), and ACH transfers in-out are as fast as you'll find.

    Jeffrey | Jul 13, 2017

    This is spot-on. Yes.

  • Jun 9, 2017

    Online Savings Rates

    Website is hawking gold, distressed property in long island, etc. banking is a secondary thought.

  • May 30, 2017 |

    Online Savings Rates

    It is amateur hour. Website is a joke!

  • May 27, 2017 |

    Online Savings Rates

    Emigrant seems to appear every once in a while with a new brand and a new rate, only to disappear in the middle of the night 6 months later. I'll stay away this time.

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