Sorry if it's been covered elsewhere. I couldn't find it.

Are there any code or money back for opening an Emigrant-Direct account? Thanks!

Edit by Moderator: Thank you for participating in the forums. However, this topic has been covered in a recent post Here.

is there an advantage to having referals for ED?

i was wondering the same thing - thanks to previous poster for an option, but gosh - it sounds os confusing, lol!

ED has been a good model of doing business, keep the rates high and have happy customers.

ING was like that before, and then they started giving free money for Money customers (50) and for referrals (25). Then they realized they cannot be as aggressive with the rates to give out all these free money.

Now you know the difference in rates between the two and so I am happy that ED is not being foolish to give out easy free money just to get accounts. Their product should be enough motivation to join. Just my 2 cents.

doglar said:Has anyone noticed that ED does not really compound interest daily?

I saw this question mentioned elsewhere... I checked the site and found this in the FAQ.. Sounds like a problem if they are not actually compounding daily but advertising they do...

How do you calculate the interest?

Interest on the American Dream Savings Account is compounded daily and credited monthly. For more details, see our Account Disclosure

doglar said:Has anyone noticed that ED does not really compound interest daily?

Probably worried that they are not seeing the daily interest counter going up like on the ING website.

you cant test with $10, thats the most ridiculous thing ive ever heard!

on a $10 deposit, 3 or 4% interest is only 30-40 cents per YEAR, so the differences would be too small to spot in interest accrual...

the balance is too small to be able to see the interest compounding...one may earn 3 cents in the month, one may earn 2 cents. that doesnt mean one is paying 2/3 of the other.

if there was $1000 in the account you may see one earned $2.98 and one earned $3.02