jwbodnar said:You're getting 3.2% for an APY of 3.25% at EDB. Presidential is 3.45% with an APY of 3.5%. The difference is 0.25%. If you're using it exclusively as a savings vehicle, then you won't incur the monthly fee, and it's worth moving.

But... Emigrant Direct just sent me a free baseball cap! Now THAT's enough to make me stick with them. Seriously, seemed kind of odd and gimmicky. Did everyone else with an ED account get one? When I saw it on my doorstep I thought the iPod mini from Citibank had finally come, but alas it was a freakin' hat.

nm

seems good though...

I didn't get any hat but I opened my account in January.

The .25% with the max deposit of $35000 is about $87.5/year, not worth the hassle to open another account and move the money. The biggest problem is the min. balance. You can't just leave it open and move money between the other accounts when they start beating Presidential premier. Time for EDB to step up and increase the rate.

No Hat for me either....

Time for EDB to step up and increase the rate'

I agree completly.....

Shandril said:Why do they need to do a hard pull and check your credit report for a savings account? It's not like you're borrowing money from them. You're giving them some. What are they afraid of? You running away without your own money? It's still a good deal compared to ED/ING/etc but I don't like much their business practice with respect to credit report check.

It's worst when a company pulls your credit report before they hire you. IMO, your employment should not EVER depend on your credit report.

Nagorak said:ccrzhh said:razorweb said:They do a hard pull and whats worse, they reject applicants sometimes for no reason. I think once they fill their quota they have no interest in additional accounts.
They are strict with your home address in the credit report. What is worse, they do not disclose the reason and don't accept phone bills, etc. as a workaround. Check the credit reports first!

I opened an Internet Checking with them recently. It was a joint account and they had trouble verifying one of the people on it, but they accepted a copied drivers license with no problems. I think they want to be safe and not get scammed, but I don't think they're unreasonable. Try calling their customer service if you're having problems.

You are talking about checking account. What Shandril complained is the saving account. Many banks only submit soft inquiry on your credit for saving account. Apparently, Presidential is not one of them.

Shandril said:Why do they need to do a hard pull and check your credit report for a savings account? It's not like you're borrowing money from them. You're giving them some. What are they afraid of? You running away without your own money? It's still a good deal compared to ED/ING/etc but I don't like much their business practice with respect to credit report check.
They are not the only one. I agree with you but 2/3 of banks have been doing the same thing including UFB Direct

simonyu1 said:Nagorak said:ccrzhh said:razorweb said:They do a hard pull and whats worse, they reject applicants sometimes for no reason. I think once they fill their quota they have no interest in additional accounts.
They are strict with your home address in the credit report. What is worse, they do not disclose the reason and don't accept phone bills, etc. as a workaround. Check the credit reports first!

I opened an Internet Checking with them recently. It was a joint account and they had trouble verifying one of the people on it, but they accepted a copied drivers license with no problems. I think they want to be safe and not get scammed, but I don't think they're unreasonable. Try calling their customer service if you're having problems.

You are talking about checking account. What Shandril complained is the saving account. Many banks only submit soft inquiry on your credit for saving account. Apparently, Presidential is not one of them.

Well, Presidential is also an online bank, whereas many other banks you're standing there in person, so the circumstances may not be exactly the same?

which bureau do they pull the creidit report?

Is anyone able to initiate ACH at other bank to pull money from this Savings account?
TIA.