Emigrant Direct: Card Carrying Member
April 9th, 2007 by Grant in: BankingI’ve leaped into the world of online savings accounts by opening an account with Emigrant Direct.
About a week ago, I got online and went through the process of opening an account. I filled out all the forms, and indicated I’d want to initially transfer $500 from my savings account to the online account, earning 5.05% compounded daily, and paid monthly.
Sure enough, one business day later, I had the two verification deposits in my Bank of America account required to verify that the banking information I provided was correct.
I started with $500 just to see how the system worked, but I’ll start moving the majority of my savings over to the Emigrant account. After all, why let my money earn a measly 0.5% at Bank of America when it could be working harder for me in a cyber-bank!
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April 29th, 2007 at 11:43 am
[…] out of the account, of which only three may be made by check, draft, or CheckCard. Evidently, when I set up my Emigrant Direct account, the account verification process made two individual withdrawals to remove the verification […]