Emigrant Direct savings now 5.05% APY

[Sparke]

Emigrant Direct is now offering 5.05% APY (normal rate, not a promotional period) on their savings account!

Emigrant Direct

Savings Account- 5.05% APY

Cash back credit card - 1.40% (restrictions apply).

CD's - 5.20% APY to savings account owners. 6 months to 10 years.

 

[matrix5646]

Yea noticed they raised the rate almost isntantly after the fed increased the short term interest rate to 3.75.

 

[snowdogg187]

Do they give you free $ for opening an acct like ING does?

 

[mb]

I'm going to give ING till the end of the week to bump theirs up, or it's hello Emigrant!

 

[lsman]

Originally posted by: snowdogg187
Do they give you free $ for opening an acct like ING does?

no.

 

[lsman]

Originally posted by: supafly
I'm going to give ING till the end of the week to bump theirs up, or it's hello Emigrant!

why wait, have both.

 

[JSLIM]

wow up to 4%, I think i'll open one now.

 

[Mellman]

Originally posted by: supafly
I'm going to give ING till the end of the week to bump theirs up, or it's hello Emigrant!

same

 

[Monotaur]

Originally posted by: Mellman

Originally posted by: supafly
I'm going to give ING till the end of the week to bump theirs up, or it's hello Emigrant!

same

QFT. I've been happy with ING, but they are really starting to lag behind EMigrant (and others...) lately.

 

[soccermonkey]

can they do an ACH transfer directly from INGDirect? I tried with HSBC and they wouldn't allow me to enter the routing/acount number of my INGDirect

 

[ECartman]

I wasnt able to link my ING and Emigrant (or HSBC for that matter). I have them all linked to my Presidential checking and my local credit union checking. Having a local (FREE !!) checking account is handy to deposit checks in and then immediately suck the money up into ING or Emigrant or HSBC.

 

[Aagiants]

i linked ING to emigrant no problem...

 

[Pugnax]

Sweet. I had been looking at them this weekend. Now my decision is made.

 

[ECartman]

Originally posted by: Aagiants
i linked ING to emigrant no problem...

How? The only way I can link to ING is to send them a check...and my Emgirant is a savings account .... no checks. Did you link at the initial deposit?

 

[Aagiants]

i did it at the initial deposit. Try to call them, maybe they can set something up

 

[Sparke]

Added info on their upcoming credit card with the self-proclaimed highest cash back rebate in the country. Let's hope it's as good as advertised!

 

[Deleted member 4644]

Are they FDIC? Any possible safety risks with a bank like this vs B of A ?

 

[Super56K]

Originally posted by: Deleted member 4644
Are they FDIC? Any possible safety risks with a bank like this vs B of A ?

They're clearly FDIC approved, bottom of the page of the link in OP's post.

From the ING direct post in hotdeals it seems as though Emigrant's service and ease of use aren't up to par with ING. Just a fair warning to anyone who is planning on using this as a high use account.

 

[ECartman]

Presidential Checking is now up to 4%

 

[spyboy64]

ING only raised their rate to 3.4%. They are rally falling behind.

 

[ncage]

Ya im going to wait until they have a card. I have some of my money in paypal now which is paying 3.5% + i have thier debit card with 1% Cash Back on all purchases.

 

[ironxman99]

so how long does it typically take from the time that your initial deposit goes through and you receive confirmation email, to the time when you receive your snail mail account info?

 

[matrix5646]

Well i waited 2 weeks then called them and they authorized it over the phone. about 4 weeks after that i got 2 letters and a week after i got a hat...

 

[howhao]

i've heard about ING both on TV and on the internet quite a lot but i've never heard of Emigrant...are they reliable? Could there be a possibility of a scam?

 

[Sparke]

Originally posted by: howhao
i've heard about ING both on TV and on the internet quite a lot but i've never heard of Emigrant...are they reliable? Could there be a possibility of a scam?

Emigrant is a legitimate financial institution, backed by the FDIC. They have several B&M branches in NY.