Just incase it hasn't been posted Edit by Moderator: Thank you for participating in the forums. However, this topic has been covered in a recent post Here.
CSRbuddy said: My dollars are emigrating from my other accounts.that's pretty funny, but why dont you give your other accounts a week to catch up. they'll probably beat this rate.
Guess I won't be moving any money to HSBC after all (other than the $1 used to open an account and get the $25 bonus.)
adityanm
Happy Member
posted: Sep. 20, 2005 @ 6:27p
The real drawback with ED is the extra long period before deposited funds can be withdrawn and lack of checkwriting facility. This leaves UFB as my bank of choice still and I am sure that they will meet or beat ED rates soon. It is too early to form any opinion about HSBC since they made it so hard to open an account.
scripta said: CSRbuddy said: My dollars are emigrating from my other accounts.that's pretty funny, but why dont you give your other accounts a week to catch up. they'll probably beat this rate.
Heh.. I was just joking. My dollars immigrated to Emigrant a while ago.
fronk777
Member
posted: Sep. 20, 2005 @ 9:11p
This maybe a stupid question but if you currently have an account there will your rate automatically go up to 4.0%?
fronk777 said: This maybe a stupid question but if you currently have an account there will your rate automatically go up to 4.0%?
The email that I recieved from Emmigrant this morning about my existing account said:
"We are pleased to announce that effective today, Tuesday, September 20, your American Dream Savings Account from EmigrantDirect now yields 4.0% APY, the highest rate in the country with no fees and no minimums, FDIC insured. Responding immediately to the most recent news from the Federal Reserve, EmigrantDirect is pleased to be able to offer this unmatched rate to our loyal customers.
You may wish to take this opportunity to put all your available funds to work for you. If you have deposits earning less interest at other institutions, now is a good time to consolidate those savings at EmigrantDirect. Electronic transfers into and out of your account are free and our new 4.0% APY is guaranteed through December 31, 2005 (subject to upward adjustments only).
Additionally, we are also pleased to announce the upcoming launch of a no-fee credit card from EmigrantDirect offering the highest Cash Back rebate in the country on all your purchases – from the first dollar spent on your card to the very last. This revolutionary credit card featuring platinum-level benefits will be offered only to EmigrantDirect customers and be available before yearend. Cash Back amounts will be deposited into your American Dream Savings Account automatically not once, but twice a year for added convenience. If you would like to be sent a priority invitation to apply for the card once it becomes available, please send a quick email with your name and email address to emigrantdirect@emigrant.com. We hope that you will become a cardholder and discover yet another way that EmigrantDirect serves and rewards its customers with outstanding value.
Sincerely,
Howard P. Milstein Co-Chairman, President and CEO Emigrant Savings Bank Emigrant Bancorp, Inc."
That 4% APY till 12/31/05 (at least) really makes a lot of short term CDs obsolete. It's a big jump in rate too. I wonder how long they can keep up that game of higher interest rates before some bank gets burnt with upping the ante too much.
gogeeta13
Member
posted: Sep. 22, 2005 @ 2:35p
Shandril said: That 4% APY till 12/31/05 (at least) really makes a lot of short term CDs obsolete. It's a big jump in rate too. I wonder how long they can keep up that game of higher interest rates before some bank gets burnt with upping the ante too much.
its fun to discuss what will happen...but fact of the matter is, who cares? We, as the "consumer" just keep getting better and better rates.
mia123
Senior Member
posted: Sep. 22, 2005 @ 3:39p
Wrong place!
ProfessorB
Thrifty Member
posted: Sep. 23, 2005 @ 2:53p
I just got this email from Emigrant Direct:
WE'RE ADDING THE HIGHEST Cash Back CREDIT CARD IN THE COUNTRY TO OUR HIGHEST SAVINGS ACCOUNT RATE ONLY FOR EMIGRANTDIRECT CUSTOMERS!
Thank you for registering your interest in EmigrantDirect's newest product - a new high Cash Back credit card, offering platinum-level benefits and Cash Back amounts deposited into your American Dream Savings Account automatically not once, but twice a year for added convenience.
You will receive a PRIORITY INVITATION to apply as soon as the card is available. We hope to have a credit card in your hands before Thanksgiving. Additional details will be available in the next week or two. We'll offer the highest Cash Back rebate in the country and hope that you will become a cardholder and discover yet another way that EmigrantDirect serves and rewards its customers with outstanding value.
How many times does that letter need to be posted? It is only 6 posts up and in countless threads...
georgyg
Thrifty Member
posted: Sep. 23, 2005 @ 6:39p
Im Senior Account Executive in a Financial Institution in NYC.
This is great for us all...now that inflation is booming so are the i-rates...companies are dying to raise rates because they have higher prime and loan rates, also all these sites like Emigrant are FDIC insured..which make it even better...only an IDIOT would lock his money in a CD nowadays.
Stick with the liquid Accounts ppl!
bluegenie
Senior Member
posted: Sep. 23, 2005 @ 7:17p
georgyg said: Im Senior Account Executive in a Financial Institution in NYC.
This is great for us all...now that inflation is booming so are the i-rates...companies are dying to raise rates because they have higher prime and loan rates, also all these sites like Emigrant are FDIC insured..which make it even better...only an IDIOT would lock his money in a CD nowadays.
Stick with the liquid Accounts ppl!
Is a senior account executive that guy in the bank who emails my ipod to me?
georgyg
Thrifty Member
posted: Sep. 23, 2005 @ 7:48p
bluegenie said: georgyg said: Im Senior Account Executive in a Financial Institution in NYC.
This is great for us all...now that inflation is booming so are the i-rates...companies are dying to raise rates because they have higher prime and loan rates, also all these sites like Emigrant are FDIC insured..which make it even better...only an IDIOT would lock his money in a CD nowadays.
Stick with the liquid Accounts ppl!
Is a senior account executive that guy in the bank who emails my ipod to me?
NO! I am a senior Account developer and interest coordinator, In a financial institution.
bluegenie said: georgyg said: Im Senior Account Executive in a Financial Institution in NYC.
This is great for us all...now that inflation is booming so are the i-rates...companies are dying to raise rates because they have higher prime and loan rates, also all these sites like Emigrant are FDIC insured..which make it even better...only an IDIOT would lock his money in a CD nowadays.
Stick with the liquid Accounts ppl!
Is a senior account executive that guy in the bank who emails my ipod to me?
dpid said: bluegenie said: georgyg said: Im Senior Account Executive in a Financial Institution in NYC.
This is great for us all...now that inflation is booming so are the i-rates...companies are dying to raise rates because they have higher prime and loan rates, also all these sites like Emigrant are FDIC insured..which make it even better...only an IDIOT would lock his money in a CD nowadays.
Stick with the liquid Accounts ppl!
Is a senior account executive that guy in the bank who emails my ipod to me?
lol
Actually its the monkey under the guy that sends you the Ipod.
fw201
Senior Member - 2K
posted: Sep. 24, 2005 @ 1:30a
Does anyone keep over $100k in this one ?
I know its not insured over that amount, but nobody else is paying this rate.
prestoguy
Member
posted: Sep. 24, 2005 @ 2:28a
anyone have any idea on when ED will let us electronically link external accounts?
george2350
Senior Member
posted: Sep. 24, 2005 @ 11:09a
fw201 said: Does anyone keep over $100k in this one ?
I know its not insured over that amount, but nobody else is paying this rate.
Absolutely - if you are married then you can get 600,000 insured by FDIC. I read this in the other thread with a PDF at emigrant site explaining how to maximize the FDIC coverage. Search for it - basically involves single accounts, joint accounts and trust accounts in each others names. If by any chance you have a kid that you can streach the coverage to 800,000 - thought that was real interesting.
George
andrewso
Member
posted: Sep. 24, 2005 @ 1:15p
I have an Emigrant Direct account linked to an Ameritrade brokerage account. I transfer the money a few days in advance to Ameritrade to buy monthly dividend paying stocks such as COY that invests in corporate bonds(currently paying 9.7% annually), that show relative price stability. After the qualified dividend date has passed I move the money back to Emigrant.
I do this a few times a year. Does anyone else double dip like this?
Best,
Andy
decades
Senior Member
posted: Sep. 24, 2005 @ 1:32p
But after the stock goes x dividend ,does'nt the share price generally drop the amount of the dividend? I used to play share price contradictions around xdividend dates with preferred stocks.
Is there any type of referal bonus when signing up? If someone would like to help me get a bonus on signing up that would be great. Feel free to pm me with details.
andrewso
Member
posted: Sep. 24, 2005 @ 9:54p
Surprisingly certain stocks show alot of price consistency. You just have to be careful because those stocks just tend to trade in-line with the market. If there is no big market news or catalyst to drive the price to change you are pretty safe. Just watch out for news like Katrina or Rita. About 1/2 the year the market is pretty quiet so long as no economic news comes out.
Andy
didYOUsearch
Cranky Member
posted: Sep. 24, 2005 @ 9:57p
quit spamming this site with your blog andy
andrewso
Member
posted: Sep. 26, 2005 @ 12:09p
Sorry I didn't know that some kind of signature link wasn't allowed.
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