Difference between Dollar Savings Direct and Emigrant?

[Carphunter]

Just happened to check rates, and see that Dollar Savings Direct is run by Emigrant (same web templates and everything).

DSD is offering %4, while Emigrant is at %3.

Anyone know what the difference is?

Do they allow a straight transfer acct to acct?

[Carphunter]

did a little digging. finding statements that basically say they're attracting new money without paying existing customers.

[poundwise]

You are correct in that they are both divisions of Emigrant Bank.

However, the difference lies in that DollarSavingsDirect requires $1K to open an account and a $1K minimum account balance. EmigrantDirect only requires $1 to open and does not have a minimum balance requirement.

[Carphunter]

Since I'm housing my war chest and car down payment money in this account, I'll meet minimum.

Think I'm going to go ahead and open up an account. Once running, I'll pull down the Emigrant money and push it back up to Dollar Savings....

Or...could look at another online altogether.

[poundwise]

To my knowledge, DollarSavingsDirect's 4.00% APY is currently the best rate going for online savings.

[Carphunter]

just turned in the application. we'll see how it goes

[Ima saver]

Let us know!!

[Carphunter]

up front, on the moving money around part, it seems much slower for ins and outs.... maybe I crossed a weekend threshold or something in depositing or something...but it seems to be taking more time just to get the cash in and available

[Carphunter]

I've been in this for a while now... seems ok. Although I went to make a deposit today and noticed the rate dropped to 3.5.

[grand_canyon]

I'm hoping this is the bottom for them as I'm wanting to open account. I just had a CD mature and saw the new rates. Yikes. Party is over.

[Carphunter]

dammit... down to 3.2 now