Comments on: Amtrust Direct Bank 5.30% APY Money Market

By: Julie

Julie — Mon, 06 Apr 2009 23:29:29 +0000

I have been trying to obtain my 6 mo. mature CD funds for 10 days now. I mailed in a letter (used certified delivery too) requesting the balance and still after 1 week of them receiving the letter – it is still open. I called this morning and told them I must have my balance sent to me now! And yes, they want $35 if it is transferred electronically! I will not do business with this bank again!!

By: Sydney

Sydney — Fri, 03 Oct 2008 02:37:47 +0000

So far, Amtrust has been very helpful with my mortgage account. I have been ill (on chemo) this past year and they reworked my mortgage, put nine payments off for me and added them to the end of my loan, and gave me a lower interest rate to help with future payments. A rate not justified by either today’s market or my credit – never would have been able to get this rate on a new loan.

They told me that I was fortunate that I was with them while sick because Amtrust really wants to help me stay in my home. Hear Hear!

By: Brian

Brian — Thu, 10 Jan 2008 06:24:45 +0000

I have had nothing but problems with AmTrust in the last few months with my mortgage account. I found the cust sup less than helpful with what i thought was a simple issue. The website was impossible to login to, even to make a payment.

By: Paul A Frederick

Paul A Frederick — Wed, 09 Jan 2008 21:30:31 +0000

I just received a call today that AM Trust accidently deposited $30,000 in my account that was from someone else’s account! Because I had a cd deposited to my money market account about the same time, I am not sure if this is true or not. I have had trouble reading their account information, maybe this is why. Anyway, my account is now lockes do It is impossible for me to determin for myself how much of a mess they’ve made of my account. I did not even receive written deposit slips until recently.

My advice, stay away from AM Trust!!!!!!!

By: Rudy

Rudy — Mon, 24 Dec 2007 14:23:19 +0000

I had terrible experience with this bank. First of all they do a HARD PULL of your credit report. I would be OK wit a soft pull, but I am not in the market for debt, so why do a hard pull. For my protection, they say. Anyway, Opened the account 12/11. Received email about it the same day. Requested an ACH with the account opening. 10 days later, no email, nor mail nor ACH from my checking account. I called the bank. They say the account opening is in process. What 10 days later? I said I wanted to log in online and see my account. I was told I will receive my username within the same day. Three days later, nothing comes by email or mail. I call again, now I am told that a work order is being put on my case? What case? Account opening? 13 days and nobody calls me or lets me know. I told them to close the account as I do not trust the bank. They say they cannot do it, only by writing. I am shocked at this experience. I do not recommend. Customer service was friendly but useless. They did not know anything, only referred to internal departments for information. Departments you cannot talk to. FIND A BETTER BANK.
I am left with a credit report enquiry and no savings account.

By: Sharon Alworth

Sharon Alworth — Fri, 03 Aug 2007 21:33:14 +0000

I was also lured by the higher rate. This is not a responsive company and you have a good chance of not getting your money back in a timely manner. I am still waiting and it’s been a week- yet they took the money within 2 hours after I applied. I would stick with local banks or other institutions that have live people or excellent reputations- not the worth the extra 10th of a percent…

By: Debbie

Debbie — Fri, 06 Jul 2007 03:10:12 +0000

I am interested in opening a mma w/amtrust. Pls post pro/con you have had w/amtrust. I am new to ebanking and need help.

By: Angela

Angela — Thu, 05 Jul 2007 16:46:08 +0000

I opened a CD for six months. Everything was opened online. However, when I wanted to close the account once it reached maturity, I was told that they could not return the funds back to the account that they took it from without me sending in a letter. Didn’t make much sense since they could take my money without having to send in paperwork, but were making me jump through hoops to get it back. I sent the written request via certified mail and they have not received it even though I sent it almost 2 weeks ago. This issue has not been resolved yet, but I hope it will be and I won’t have to report more shenanigans on their end. All in all, it’s a lot of hassle that is not made clear up front when you open a CD. If you don’t have time to jump through hoops and follow up to make sure they do what you want with your money, you may want to choose to deal with your local bank where you can speak with someone face to face.

By: Kaz Maeda

Kaz Maeda — Sun, 06 May 2007 07:41:26 +0000

I have difficulity to connect their site by IE niether Net scapa 7.1. Could somebody help me how can I access their web page ?

By: nik

nik — Fri, 30 Mar 2007 18:43:19 +0000

I opened an e-MMA over a week ago. I just got my login info in the mail yesterday. I’ve tried to login all day today (since 7am this morning) and have been unable to (system unavailable, try back in 20 mins). I called cust svc at 2:30pm and was told the system was being updated and to try back in 20 mins. I informed them that I received that msg earlier and had been trying it all day. The rep could not give me any info on when the system would be back up – only to try back later!
Not very useful for an online-only bank.

By: MikeK

MikeK — Thu, 29 Mar 2007 13:33:36 +0000

Vo_Dich…I could be wrong, but a CD has a fixed interest rate for the life of the CD, where the MMA is variable.

By: Vo_Dich

Vo_Dich — Thu, 29 Mar 2007 04:40:55 +0000

How does Amtrust compare to Countrywide Bank in term of service and investing money in them? It seems like at the moment, the rate for Amtrust is a tad higher than Countrywide Bank.

What time zone is this website on? My previous message was posted at 9:31pm, and it is showing 4:31am the next day.

By: Vo_Dich

Vo_Dich — Thu, 29 Mar 2007 04:31:26 +0000

I am thinking of signing up for either CD or e-MMA with Amtrust. If the APY for both of these are the same (5.36%), then does not it make sense to just put my money in e-MMA and not have to worry about the term? If the APY is the same for both, then both should be earning the same interest correct?

By: Zbean

Zbean — Mon, 19 Mar 2007 03:08:32 +0000

Anybody have experience with Zion’s Bank?

By: Agio

Agio — Fri, 16 Feb 2007 21:35:17 +0000

Sorry to hear about Ryan’s problems. I use Firefox and have encountered no problems. Make sure you have Firefox 2.0 downloaded, some adblock or high security software may be causing the problem.

Also received an email that AMTRUST is upping their online rate to 5.36%. Life is good.

By: ryan

ryan — Tue, 30 Jan 2007 07:47:57 +0000

I have had a very difficult time with amtrust. Their website has given me more problems than I can count and the customer service has not been very helpful either. First, it took me a while to realize that the Firefox browser does not work with their website. Even after using IE, I was able to get in to my account, but could not set up an external transfer, even with a customer service rep helping me on the phone. I kept receiving an error message saying that portion of the website was down, which the customer service rep knew nothing about. He said he would call or email me the next day and never did. This is only the tip of the iceberg with the problems I have has with this company. Too many to write about. Their customer service is downright horrible.

By: ats

ats — Mon, 18 Dec 2006 07:44:03 +0000

I have had good experiences with Amtrust Direct. They are constantly working on their website and showing good updates. Recently they have updated the Account History section showing the transactions and interest deposited in the account. They have also added some security features. They also deposit interest on time and send monthly bank statements showing transaction details.

CS is good and well responsive. The higher management also keeps a track of customers suggestion and work on them in queue.

Regarding the ACH, there is a 5 day hold on ACH Transfers. No problems in this as of now. Initially i felt something was wrong but amtrust could develop a good trust in me.

Overall a good experience till now.

By: whitebrook

whitebrook — Wed, 06 Dec 2006 00:18:35 +0000

I have experienced no problems. CS has been very responsive. However, I can’t download to Quicken. I e-mailed and was told they stopped this capability when Quicken decided to no longer support downloads — true? History doesn’t show transfers or interest. I’m using this as a place to keep some money in a liquid state and so don’t have many transactions but I would think that transfers and interest deposits are transactions. Any comment on this?

By: yepyep

yepyep — Fri, 01 Dec 2006 13:43:02 +0000

edit: several days=5 days, although deposit is not available for withdrawal/transfer it is earning interest.

BTY: no hard credit pull posted to experian for opening mma, don’t know about the other 2 cb’s

CS waitime at 8:40 am est was 2 minutes on Friday

By: yepyep

yepyep — Fri, 01 Dec 2006 13:23:18 +0000

I opened a mma with amtrustdirect. Initial ACH deposit was smooth. External transfers are a bit ackward. When you submit a transfer it will not immediately show up in the transfer information for the account. My money was deposited into the account without ever posting to the transfer information for my account on the web. I have heard that some people thought that was because it didn’t go through, so they submitted another transfer, which led to overdrafting their other bank account. When you do transfer money into the account, it doesn’t post to available balance for several days although the ACH is conducted next business day for the most part. I haven’t had to contact cs, so I can’t comment on that at this time. Cheers!