Emigrant Direct Bank Reviews & Ratings
Posted On: 5/28/2008Emigrant used to be a market leader in online savings accounts. Now there’s no real point in signing up with them. Interest rates are bottom-of-the-barrel, and most other banks are faster and easier to use now.
Posted On: 5/09/2008Crappy, bottom-of-the-barrel rates from what used to be one of the highest rates of any of the banks here. Even my online checking account at BofI has a higher interest rate than these irresponsible pathetic fools can offer…bye bye Emmicrap Direct…
Posted On: 5/03/2008Emigrant was my first experience with online savings. I never had a problem with them. This week I transfered over to Country Wide. I was giving Emigrant some time in hopes their interest rate would go up, but it hasnt. The switch over to CW was very easy, so far I’m very happy I finally did it.
Posted On: 4/17/2008Emigrant has been good to me for 2 years, and I’ve given them a few months of the benefit of the doubt b/c of that. However, their rates have fallen to the very bottom rung of high interest accounts out there, and they are staying put at 2.75%. This is frankly unacceptable, and there’s no reason to not move my money to one of the multiple banks now giving 4.05%.
Posted On: 4/09/2008Interest dive compared to other options is unacceptable. Transfers INTO the account are fast, but they “hold” the funds for a week. Makes no sense. Look elsewhere.
Posted On: 3/28/2008Transfers to Emigrant were quick in the past, now for some reason they take a least week. Transfers back to your linked account are still pretty fast. The rate has absolutely plummeted the past few months. I understand rates coincide with fed rates, but ED’s drop by much more and much quicker than my other online accounts. Bye bye Emigrant, my money has gone elsewhere.
Posted On: 3/26/2008Emigrant’s latest quarter point drop down to a paltry 2.75% was the last straw. I pulled out all of my money on Monday and plan to close this crapper next week after March’s interest was posted.
Posted On: 3/21/2008Read the title…
Otherwise keep moving. No one has yet to tell me why ED has dropped their rates SO much lower than other banks.
2.7% isn’t even worthy of being called a money market account. What a joke
Posted On: 3/20/2008I have been with Emigrant Direct for almost a year now. While I do like the ease of the service and only had to call once when I first got started, I’m not liking how fast their interest rates have been dropping. It was at 5.05% when I started. As of today,it’s down to 3% and steadily dropping. I’m now shopping around. The only other “bad” thing I would have to say about ED is that, while the transfer from the account to another is pretty quick (1-2 days), I think the transfer into the savings account is too slow. It takes about a full week (7 days or so) for funds to be available. IT was a great ride, but I’m getting off.
Posted On: 3/10/2008I have been with Emigrant for 3 years now and while the initial set up was a little quirky and took time, the rates were outstanding! But I have watched their rates go lower and lower as the fed adjusts. The Emigrant movement in lowering rates appears to be moving faster than all the other online banks. They have fairly quick electronic transfers (2 days) and overall, I have been happy with them. I have had no need to contact them by phone except in the initial setup. No maintenance since then but these lower rates are making me shop. Emigrant, you are going to lose customers if your rates continue to free fall.
Posted On: 3/07/2008i’ve had an account with emigrant for about 4 years. it’s good – low maintenance. the balance transfer are pretty quick. i recently moved the majority of my savings to oneunited though for the interest rate.
i’m glad i did that too. i just logged onto my emigrant account and the rate is now 3.3%.
again, it’s a good bank overall. the interest rate is lacking.
Posted On: 3/06/2008Easy to deal with. Transfers are simple and always done on time. Also forward with their rates. Some banks have 2 or 3 different rates for various accounts and only show their highest rate on the sign on screen.
Posted On: 3/03/2008I found Emigrant very easy to open and appreciate the quick fund transfers to/from my checking account. Great customer service if the rare call is necessary. However, I am concerned about the drastic interest rate cut in comparison to other funds—-looking elsewhere for long term savings.
Posted On: 2/19/2008This is really the core issue: Why did Emigrant Direct drop their rates SO much more than other banks when they ALL are facing the SAME Fed interest rate drops?? Emigrant Direct has yet to answer this question head on. So it’s not about Fed rate drops, and it’s not about angry, immature name callers like mfrizzle, who jumped in here with his arrogant know-it-all attitude while simultaneously showing his ignorance by missing the forest through the trees. The evidence is obvious: Emigrant Direct went from the top of the list to WAY down to about 15th because they dropped their rates MUCH MORE than other banks did (mfrizzle, are you listening??). THATS the issue, THATS the problem. If you don’t feel that’s important, well, good luck to you. As for me I’ve already moved my money elsewhere.
Posted On: 2/17/2008I’ve had my ED account for about a year now. I’m highly satisfied on the qualitative side of things, but this dropping percentage has me worried. In addition to hearing about these March cuts that’s soon to come, I’m worried about the state of my account. I guess this too shall pass, but I’d hate to see ED stay this low. I’d surely have to leave which I do not want to do because I enjoy this account.
We shall see…
Posted On: 2/14/2008Emigrant had the highest interest rates with the Fed was at the all time low, before even when the Fed started to raise interest rates.
Still like Emigrant Direct easy to move funds in an out online.
If Fed continues to lower rates, I’m looking for Emigrant Direct in raising there interest rates.. hopeful.
Still like Emigrant Direct easy to move funds in an out online.
If Fed continues to lower rates, I’m looking for Emigrant Direct in raising there interest rates.. hopeful.
Posted On: 2/11/2008I cannot believe how much Emigrant Direct has dropped their rates. They are very low.
Posted On: 2/07/2008They just lowered their rate to 3.6%. They went from having one of the best rates to one of the worst in less than a month.
Posted On: 2/06/2008Laffy, no kidding, we all know the Feds are lowering interest rates a lot lately, but this doesn’t explain why Emigrant Direct’s rates have sunk SO much lower than other institutions! Have you looked at the list here at bankaholic.com? I just did a check – Emigrant Direct, at an APY of just 4.05% is now ranked 15th for APY! That SUCKS! They used to be in the top 3, maybe even #1 at one point, I can’t remember, but the point is they have dropped their rates MUCH more than other banks going through the same Fed interest rate drops! To me that points to bad management, and a good reason to move out of them before their rate tanks even further.
Posted On: 2/05/2008Since it’s all online, it’s super easy to open an account, fund it, withdraw funds, etc.
I have been with them for almost a year now with no problems. It’s easy to move money in and out of the account with no penalties. Good interest rates and quick access to account info.
Posted On: 2/03/2008on this site, it shows Emigrant with a yield of 4.30% – but, in my account…it shows 3.90%.
I really dont move anything out of the account, just put $ in. I think it will be best for me to shop around. WaMU seems to be getting great press… so, I think i will check with them first. Anyone had any dealings with them?
Posted On: 2/01/2008don’t you guys get it? the federal reserve has lowered interest rates twice this month. that means that banks have to lower interest on savings (bad news) and credit cards/loans (good news).
it’s just bush playing with the economy again. it’ll pass soon.
Posted On: 1/24/2008I had a similar experience with the person who posted on 1/07. I’d been a customer with EmigrantDirect for almost 2 years, but when I saw their rates dropping faster than those of other institutions I became concerned, so I sent them an email & asked them why. What I got back was a terse, non-responsive reply from a rep named Tonya who basically said “we can lower rates at our discretion any time we want per our terms & conditions” (which I already knew—DUHHH!), but even after I sent a reply asking her AGAIN, she still flatly refused to tell me why — soooo, TIME TO MOVE ON!!
Posted On: 1/15/2008Ive had a Dream Savings account for over a year and have never had a problem. However, the interest rate has dropped almost a full % since I first joined……time to start shopping.
Posted On: 1/10/2008VERY fast and easy to set up an account. I applied online and the next day my account was funded and showing on the website. I also had to call customer service right after I created the account the ask a question and they answered the phone after the first ring and were very helpful. The rates are steadily dropping though! Theyre barely enough to cover inflation now!
Posted On: 1/07/2008Love this bank,been with them 18 months, easy to set up, easy to use, but the rates suck. I even contacted them to ask them why they are so low and got a smart a** answer telling me they are flexable and can go down and up depending on current trends. Seems like they dont care too much that they are no longer competetive. I will be looking elsewhere now, but I really dont want to. Pity they dont listen !!
Posted On: 12/22/2007have an american dream savings account for over a year…looks like rates dropped agian to 4.65%…almost to the point of shopping for better rates.
Posted On: 12/08/2007Great service. 1 day ACH transfers. Can link 2 outside checking accts. to your Emigrant Direct account – All of that is the good news. The bad news is 4.75% which is 50 basis pts lower than you can get. Bye, bye Emigrant!!!
Posted On: 11/27/2007didnt like the rate drop, but service is good.
Posted On: 11/16/2007Great online savings. I recently close it because I have too many savings acct that are with the same bank as my checking account or earn better rates. Rates arent in the top 5 but is still nice and they dont change it much often. Great online customer service. Fast ACH. The only con is that adding new transfer accounts sux
Posted On: 11/06/2007This bank would so well if they increased their rates. I love their online banking.
Posted On: 10/29/2007Love this bank, easy to use. Not one problem, but are no longer competitive with their rate and the apy just dropped. 
Posted On: 10/25/2007Even though the rate has dropped, I plan to stay with them for now because I have never had a single issue. Hard to find these days.
Posted On: 10/17/2007Been with EmigrantDirect for about a year now and it has been great. Never had a problem. I was a little disappointed in the rate drop, but still competitive.
Posted On: 10/15/2007been banking with them for yrs
and love them.
and love them.
Posted On: 10/14/2007been using emigrant for over a year. reliable and accurate, but dropped the interest rate! moving to greener pastures
Posted On: 10/13/2007Been with Emigrant for years and love how easy they are to use. Not a bad APY. Very pleased! Got my whole family to join.
Posted On: 10/13/2007Emigrant cant handle the compeition anymore. Why stay with them?
Posted On: 9/28/2007it is no longer 5.05. it is NOW 4.75
Posted On: 6/25/2007Were the rate leaders when they bumped ahead of ING, but have sat on their 5.05% and allowed the competition to take the lead. Check out their cash back Visa. Pays 1.4% which is deposited into your internet MMA!
Posted On: 5/24/2007lending?
Posted On: 5/19/2007reliable, but no longer competitive
Posted On: 5/13/2007Highly cometitive. But loosing the maret share.
Posted On: 5/11/2007Decent APY rates and good service.
Posted On: 5/11/2007Well bank record is good and I always like $1 deposite. Ratse is just 5 above but good for me
Posted On: 5/11/2007reliable bank, but rates arent that competitive anymore. nevertheless, i have an account with them with a few grand
Posted On: 5/11/2007reliable bank, but rates arent that competitive anymore. nevertheless, i have an account with them with a few grand
Posted On: 5/11/2007reliable bank, but rates arent that competitive anymore. nevertheless, i have an account with them with a few grand
Posted On: 5/11/2007Nice to be able to link up with checking account so business can be taken care of online. Low deposit fee and decent APY.
Posted On: 5/10/2007In past they were the leader. But now their rates are not so competitive…
Posted On: 5/10/2007While this bank is not as amazing as it used to be in terms of high rate savings accounts, it is worth giving credit to since it paved the way for other banks.
Posted On: 5/10/2007emigrant direct bank was the leader in pioneering high interest online banking.
unfortunately, their rates arent as competitive anymore. nevertheless, a good, solid, bank.
