Submitted: Jul 16, 2007
Views: 3788
Comments: 19
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Please post your comments and experiences with Amtrust Direct below. Please note that some messages have been moved from our old message board.
Thank you.
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Comments Received:
Moved from the BestCashCow Message Board.
Visitor
Posted 4/26/2007
Default Easy Opening
I just completed the online portion of registering for an eMoney Market Account and the process was painless. In reviewing alternatives I found AmTrust offers the easiest access to my money without fees. ACH transfers appear to be made with relative ease and at no cost, either in or out of the account. One is permitted to link to as many as six other accounts which may be useful for some folks, though not essential for me. Yes, there are sites that offer higher rates, but typically they carry with them requirements that make the offer much less appealing. I'll say more after I've had experience using the account.
Update: Their system for transfers is a bit cumbersome initially. I transferred an initial deposit without difficulty but when I had funds available to make a larger transfer I had to have the account verified. In fact, it was the same account I'd used for my initial deposit. I found that a bit strange and said so to the person with whom I spoke. But the verification process that consisted of two small deposits in my account happened quickly and I confirmed those deposits online. I was then able to make my deposit. Henceforth I can make transfers to and from that account without further need for verification. I was confused for a moment, but then everything worked well. I'll make another deposit shortly. They're rates are still tops for liquid accounts.
Posted: Jul 16, 2007
Eleven months later I only have positive things to say about Amtrust. Their confusing monthly statements have been completely revamped and are a pleasure to read now. Their transfer process works without a hitch. And their rates are excellent. Given that one invests in an Amtrust for the rates not their Customer Service I would rate them much more highly then the likes of Nations Bank masquerading as Bank of America for instance.
Posted: Jul 21, 2007
Visitor
(Unregistered)
Pro: Excellent rates, no transfer fees.
Con: Website down 1-2x/month with no warning, unpredictable account closing date (varies by up to 4 days, which may cause you to exceed your monthly transaction limit), inability to download data into Quicken.
Posted: Sep 20, 2007
Dropping
(Unregistered)
They're down to 5.21.
Posted: Sep 21, 2007
Up We Go
(Unregistered)
Amtrust just raised their rates. Up to 5.36% APY.
Posted: Oct 17, 2007
shraz
(Unregistered)
it's their new promo e-savings 5.36% for 90 days. 4.93% e-money market.
Posted: Oct 20, 2007
T-Man
(Unregistered)
Just dropped the rate on my e-money market for the 5th time in 10 months. Bye bye AmTrust!
Posted: Oct 24, 2007
David
(Unregistered)
The 5.36% is intro rate only. Make sure you read the fine print.
They just lowered the rate too. I found another bank that offers 5.5% (not intro). I called AMTrust and told them I was going to move my funds to a new account if they were not willing to match.
They would not match the competition.
Time to move on then.
Posted: Oct 27, 2007
Blessed2007
(Unregistered)
Yes, it is only an itro rate;-(
Posted: Nov 6, 2007
They are now offering 5.11% APY. Not an intro rate. That's very competitive with the $1 minimum deposit.
Posted: Dec 16, 2007
Visitor
(Unregistered)
The 5.11% is an intro rate too. In the fine print it says it's only good for 90 days, then the rate reverts to the "then current" rate. Couldn't find what the "current" rate is anywhere. I realize it will be different in 90 days, but would like to be able to get an idea of their "normal" rates, not just the intro.
Posted: Dec 23, 2007
Rob Lowe
(Unregistered)
They rate below "Tragic" on Bankrate's safe and sound. I'm not as sanguine as others about waiting for FDIC to reimburse me after the fall. Anybody else a concerned about their deposits at Amtrust?
Posted: Dec 27, 2007
Looking for a good deal
(Unregistered)
bauer financial rates amtrust 3 1/2 stars out 5. that's a bit above peer.
Posted: Jan 2, 2008
Visitor
(Unregistered)
Be warned that you will not have access from outside of the USA to the online banking. They will send you a link to use to VIEW your account, but you WILL NOT BE ABLE TO MAKE ANY TRANSACTIONS FROM ABROAD.
Posted: Jan 22, 2008
Former AmTrust Customer
(Unregistered)
Beware of their perpetually falling rates. They tease you in with an intro rate and it's all downhill from there. They are paying 4.506% today when I closed my account. Countrywide is paying 5.0% indefinitely.
AmTrust's customer service leaves a bit to be desired as well. When I wanted to link my AmTrust account to another, they REFUSED to give me my account number. They claim it's for security, yet you can go ahead and transfer all the money out on that very same call. Very annoying to wait for the first statement a month later.
Posted: Jan 29, 2008
I transferred my CD to a bank with a much higher rate, I have been with AmTrust for over 10 years.
I still have the high rate gold savings, which offers 3.5% for a minimal balance.
Overall, I have a good relationship with AmTrust. I considered the high rate internet account, but after
90 days, the rate reverts to a much lower rate and the funds must remain in the account for a minimum of 180 days. That doesn't work for me.
Posted: Jan 31, 2008
sunny dillon
(Unregistered)
i opened my account in amtrust a month ago and stilll waiting for my check card or debit card,i call customer service they told me the person filled my application in bank was new so she just forget that . But that was a lie . theie service is too slow .
and rates are good for just 90 days .
Posted: Jul 14, 2008
sandy jones
(Unregistered)
I have account with key bank for 3 years . this bank's branch service and customer service is a night mare .plus bank don't offer good rate on checking or saving just .005%apy after intial period.Their is nothing free like checks, safety box etc etc. after 3 years i close my 2 accounts from this bank.
I think hunington is good bank or amtrust.
Posted: Jul 14, 2008
Falling
(Unregistered)
Their MMA rate falls on a daily basis. The current rate is 1.49%, much below their initial (bait and switch) rate of 5.61% and way below US average of 2.44%.
Customer service is worst in class and they don't send statements in the mail. RUN!!!
Posted: Oct 4, 2008
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