WT Direct is the online division of Wilmington Trust Corporation (NYSE: WL), a $48.1billion asset financial services company with more than 2,500 people worldwide. The company was founded in 1903 by members of the duPont family. It is the largest banking company in Deleware and the 15th largest personal trust institution in the United States.
Customer Service
I called to ask some questions about the application and was immediately connected. The agent was polite and knowledgeable.
Application
The company offers a fully electronic application that verified identity via a series of questions pulled from the applican't credit report. That eliminates the need to receive and send back a signature card and allows the account to be opened instantly. Identify is confimed via a soft pull done by one of the credit reporting agencies, Equifax and this will not impact credit scores .
One day after the application is completed an email will be sent with a user ID and at that point you can login and confirm your trial deposits.
Funding
During the account opening process you can put in your funding account and within one business day a trial deposit will appear in the checking or savings account you plan to use to fund the WTDirect account.
The next day after completing the application you'll receive an email from WTDirect with your User ID. At that point, you can login and confirm your trial deposits. Transferring money into the account will take 3 business days from that point. Trasferring money out of the account is also three business days.
Bank Condition
Bauer Financial ranks WTDirect 3 1/2 Stars out of 5 (Good) for its safety and soundess. The bank's stock has dropped from a high of $35 to $16 today, not great but not like the 80-90% declines of banks like Citi, BofA, WaMu, etc.
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