Emigrant Direct‘s rate is now up to 5.15% APY, as promised. Hurray competition!
The old account numbers do work. I just sent a deposit and debit through Capital One 360, which was linked using the old account number, and it worked just fine (screenshot). I didn’t mean to alarm anyone before, I guess the ‘official’ transfer method is still through their linked accounts, but external links are still intact.
You can now link 4 accounts. This is up from the old limit of 2, which I’m very happy about. They now use trial deposit verification like other systems, but you still have to send in a voided check. The CSR I spoke to really had no good reason for why they have to do both. I guess they really want to restrict it to only checking accounts, although obviously it’s not impossible to get around that.
To see your whole account number (you only get the last 4 digits when you login), go to Accounts > Preferences.
As for the new website, it’s definitely an improvement but more of an incremental change that anything monumental. Slightly cleaner and more organized. The most noticeable thing is having to remember all the new security questions. I only put in five, typing in all ten would just be masochistic. But overall I don’t mind the extra security.
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Due to the login changes at Emigrant, linked account to Emigrant at Yodlee no longer works. I emailed Yodlee and they said they would escalate the issue. Such a pain. Yodlee’s support email address is CustomerCare@Yodlee.com Please email them to ask them fix it soon.
The Treasury actually sends a $0.00 direct deposit transaction to verify any changes to account numbers. I changed my Emigrant Direct account number in TD earlier in the week to my new ED account number (minus the leading two zeroes). Just noticed a transaction from the Treasury for $0.00 in ED. Since it posted correctly I now have faith that any movements in or out of ED via TD will work for the new ED account number.
The new security is nice, but the price I pay is that my everbank checking can’t tie to it anymore. Before when I logged into everbank it’s a similar setup to say quicken or money that it instantly retrieves all your accounts you want, but not anymore
Lao – That occurs with most of the security sites now.
Emigrant Direct will no longer work with Quicken’s Direct Connect Download. ING Direct will not either.
Before the security questions from ING came out and Quicken asked the basic info (last 4 SSN, first 3 SSN), Quicken would prompt you for the answers to every single question. But not anymore.
It will be interesting to see how Quicken and MS Money get around these new security “features”.
I noticed Bankrate has reduced their rating for Emigrant Direct to 2 stars. Should that be of any concern?
Yeah, my Yodlee connection is down too.
As for the Bankrate downgrade, I would consider it a factor, but not a major one as it’s still an FDIC insured bank. For example, if there were two identical banks other than the star rating, I might choose the one with the better star rating. But otherwise, I’m not really concerned.
For some reason I been having problems with emigrant… They charged me a $5.00 mail handling fee… I never had anybody else take money out of my checking until I signed up with emigrant..
Are you sure? I don’t think they have such a fee, and I really doubt they’d take it out of your checking. I’d be wary of something else.
Emigrant’s upgrade has been a serious downgrade in customer experience. Long outages, insecure pages, transfer problems, missing data — I could go on. I have not been able to get through to customer support and they aren’t responding (in over a week) to my e-mail questions. I did see the new website and see the graphic changes in the look of the site. But I was okay with the old web site that worked. Graphic updates that are incremental are not worth the problems that they are putting us through now. I’m concerned that this is no longer a bank I can trust.
I am wondering if there is a way to connect Emigrant Bank accounts with say credit card account or investment account like Fidelity.
That way, I can directly debit money from Emigrant Direct account for paying credit card etc..
Let me know
Thanks for the info. I find it interesting that ING Direct was the early leader, and has really been dragging lately with their rates. The spread is getting close to 1%.
Also hoping they catch up!
All I can say about them – they really dropped the ball on this “upgrade”. Terrible customer service – could not find my old account #, not returning calls etc. I’m done dealing with them. Presidential is so much more professional.
“I am wondering if there is a way to connect Emigrant Bank accounts with say credit card account or investment account like Fidelity.”
Yes, you just need your account number and routing number for Emigrant to link with many credit cards and banks. The routing number for Emigrant is 226070319.
EmigrantDirect continues to fail as an online bank.
It’s now 7:30am (Eastern), and for the past 1.5 hours, I have not been able to get through to the ED website (I can get through to every other website I want).
Heck, I live about 7 miles south of the main office in Ossining…if I can’t get through today, I’ll be tempted to just go there and withdraw my money.
(Could I do that in person with an ED account?)
Can we still get the $10 bonus if we sign up through your link?
Kyle – Yes the $10 bonus is still on. Lots of people have been signing up recently due to the 5.15% APY rate hike and improved website. But please follow all the directions carefully to get the bonus.
Hi, this account says its completely an online account? Does that mean it wont even send you a bank id card with account information etc? what if one day the website vanishes? Sorry I know its FDIC insured but what can fdic do if you dont even have an id card?