Current APR: 5.05% APY
Interest Compounding: Compounded daily and credited monthly.
Minimum to open: $1
Minimum to avoid monthly service charge: None
Other fees of note: None
Download formats available: .ofx/.qfx/.csv files*
Number of external bank account links allowed: 4
Routing Number: 226070319
Opening Bonuses: $10-20
Deposit Hold Times: (from their site) For security reasons, initial deposits have a 10 business day hold before they can be withdrawn. Future deposits may be withdrawn after five business days.
Safety of Deposits: Emigrant Savings Bank is FDIC insured (certificate) up to $100,000 per depositor. Still, this does not mean all banks are the same. BankRate.com’s Safe & Sound Rating assesses banks’ relative financial conditions. Emigrant Savings Bank has a rating of 3 out of 5 stars.
How to add external link:
You can link up to 4 accounts. You must send in a voided check, as well as confirm two trial deposits.
13 Croton Avenue
Ossining, NY 10562
1-800-836-1997 (Monday-Sunday 8:00 AM – 12:00 AM ET)
Customer Service Opinion: I’ve never called them. Anecdotally, I’ve heard both positive and negative things about their customer service, although almost all the negative comments have to deal with their somewhat involved sign-up process, and not the customer service itself. I’ve been happy with my account so far.
User interface Opinion: It is simple, but it works. It definitely won’t win any design awards or anything.
Other things to note: I previously wrote another review of this account: Emigrant Direct Saving Account & Application Process Review
* .ofx is Microsoft Money’s current format, .qfx is Quicken 2005+ format, .qif is Quicken 2004 and older and also older MS Money format, .csv is Comma Separated Values which is a more generic spreadsheet format.
By Jonathan Ping | Banking | 8/17/05, 3:07pm