Emigrant Bank Reviews (32)
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with all of these online bank, including the well known ones, delaying transfers forever in order to fund these high rates, this one still executes inbound and outbound transfers immediately.
Review on the Online bank -
I have had my saving direct,dollar savings direct and emigrant for many years. I have never had issues with bank to bank transfers, either in funding or with withdrawal s. You do need to keep on top of them for rate changes, but big deal. If they drop too low,just move your money. I closed emigrant since they are not competitive with the other two. You have to shop around for the best rates on CDs too. My checking account is still paying less than 1%!!
Review on the Online bank -
I opened an account this morning when I saw the 4.35%. My bad. I had tried with Emigrant or Dollar Savings years ago and forgot that it is impossible to add funding accounts and they never accepted a Morgan Stanley account. The rate is still nice, and they don't play games with delaying deposits and setting caps on withdrawals like the other NY banks.
Review on the Online bank -
It is a complete game between MySavings, DollarSavings and Emigrant. Some days one has a competitive rate, the next day the rate on that one has dropped to zero and it is one of the other brands that has the highest rate. Best to just avoid all of the Emigrant brands all together and not play their game.
Review on the Online bank -
I hate to write this, because I know I will hit myself the next day when the rates are lower, but with everything that I have read on this blog and other blogs about staying away from Emigrant with all of the games, it is great that they have kept the rate at 2.4% in 2019. I more money here than I would have made at the bigger names that never got this high and are now much lower.
Review on the Online bank -
I've read all of the comments here and on DepositAccounts about the raising and lower of rates by these banks that Emigrant owns. All that I will say is that I have been very happy here for the last few months. I check every few days and if they ever drop the rate or fail to keep pace, I will move it out in a second.
Review on the Online bank -
I think you all should stop complaining about online banks shifting their rates. You are responsible to watch the rates. If I'm putting money into an online bank account I'm not expecting them to be my best friend. However it's my responsibility to watch my money as often as possible if not daily. And then they drop the rate I look for a better one. I think it's pretty straightforward and very simple. All this whining about online banks changing their rates well that's their prerogative. You don't like it go to a regular Bank what's the difference? Big difference online banks evidently pay higher rates.
Review on the Online bank -
It doesn't look professional at all, but the site is easy to set up and the rate is real.
Review on the Online bankaclient | Dec 15, 2018
Looks are deceiving. Not only does it appear very professional but with 2.4% on a savings account it's a winner. I'm waiting till mid-December to see what the next step is with the feds. Will the feds hike the rate again is the big question. At that point I will consider a CD.
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The standard Emigrant Bank MO for many years - they lure people in with a competitive rate and then assume we are too lazy or too busy to notice we are getting shafted as they rapidly cut it to near zero.
Review on the Online bankaclient | Dec 12, 2018
Dec 12 2018
Really?
It appears that their online savings account is the highest w/o any fees online that I've found.
2.4% is pretty good. I'm considering seriously moving some money into this ASAP.Jim C | Dec 17, 2018
I agree with thwi. Emigrant also does the rate hop with their division Dollar Savings. But that rate is too good to ignore, I went in up to max and will pull money as soon as they become uncompetitive which I think is still at least a few months down the road.
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I've been at this long enough to know the Emigrant game. When rates started rising, they raised the My Savings Direct rate to 1%. It stayed there until today. Meanwhile people who deposited were never getting a competitive rate. They did the same with Dollar Savings Direct which they raised 10 months ago to 1.80% to attract deposits but haven't raised since. They attract stupid money with all of these silly brands and make it impossible to do anything but close one account and open another in order to continue to continue to get a competitive rate. I am steering clear of this game.
Review on the Online bank -
I've been working with Dollar Savings Direct for some time now and saw this 2.15% 6 mo rate here so called and asked them to move me into that. They said no. They treat My Savings as completely different from DSD and make me start anew transfer the money in and out. What gives?
Review on the Online bank -
Biggest short coming with this bank is a 2 external bank limit. A real pain in the a$$ to get an external bank verified.
Review on the Online bankABSO BCC | Mar 17, 2016
That's for certain. They required me to fill out a form and mail then a cancelled check. Then, they sent me a note saying that Morgan Stanley isn't a qualified bank for ACH, even though no other online bank has a problem ACHing with them.
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I've had an account with these guys for a while. Emigrant Bank has a habit of launching new brands with a great rate and then lowering the rate slowly and quietly. While it has yet to fall below 1%, you need to keep an eye on this as they could drop it to zero with no notice. Also, stay below FDIC limits here as the bank is not very sound.
Review on the Online bank
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not perfect but
Apr 25, 2023 |