this is good. but if you find yourself using this acct for multiple transfers, you might want to look at citi transfer

No need to experiment with a newcomer when banks with more proven track records have the same rate.

You saying not try them but at the same time you have Amboy whats up with that. I have GMAC, HSBC and ING. I will close ING as soon as my CD will mature. HSBC is probably the best of all because its an established bank with brancher all over the world but they have a very slow transfer and you probably will wait a month to acess your account. I actually love GMAC and all my money with them but some ppl afraid that they may close but they got FDIC atm card with $ rebates and fairly good transfer time . But it s you who will make a final desicion , so be wise about it . Good luck

He (asdf83) never said Emigrant was a newcomer, he said why play around with someone new to this game (like Apple) when we already have all the other "established players" around (with these high yield premium accounts) he didn't say Apple was a new, unestablished bank!

What i pointed out about this Apple account (that i don't like) is that it's a tiered account which is currently paying this highest rate at all tiers...That means, a few months down the road they could alter things and give the highest rate to the biggest balance tier and have lower rates for the smaller balance tiers....

The other banks with these accounts aren't using a Tier System....everyone gets the same (highest rate) whether they have $1 or $100,000 in the account...

And, by the way, Amboy is a very well established bank, it's been in Central New Jersey for about 100 years....is that established enough for you? (lol) pardon the sarcasm...couldn't resist! (lol)...

oc200 said:Just an FYI, although Apple Savings Direct is new, Apple Bank for Savings (the same bank) is a well-established bank in New York City. It's been around since 1863 and currently operates 50 branches in the greater NYC area.

Appreciate that update....i was pretty aware that Apple has been around for a long time....only part i don't like about their Online Account is that it is "tiered" which means eventually they might start giving the top rate for those with extremely large balances.....

I just tried to open an account but for whatever my address couldn't be verified, so I'll have to send in a copy of bank statement to verify address. bleh.

opening process is very similar to HSBC.. you get to return to the application to verify your initial deposit, and fix any mistake or continue the application. there's a series of questions via credit report (ala Emigrant Direct opening).. but as far as I can tell there should be no hard inquiry (from what I read in terms and disclosures, but dont quote me on that).

I am considering a Grand Yield Savings Direct account with Apple Bank, but am confused by their statements on withdrawls and deposits in their "Online Banking Services Agreement" and their "Grand Yield Savings Direct Disclosure". In both documents they have statements that read as follows:

"After your initial funding and subsequent linking of an External Account(s) by enrollment in the Funds Transfer Service, you may make transactions between linked Accounts. Withdrawals from and deposits to your Account(s) are permitted by means of ACH entries from or to your linked External Account(s). You may originate withdrawals or deposits through the Bank’s ACH Funds Transfer Service, from or to your Account(s), in a standard processing aggregate dollar amount limited to $2,000 per day, and $5,000 per rolling 30-day period. Next day processing is available, subject to the same dollar limits, for a $10.00 next day processing fee. Higher limits may apply for standard processing under certain conditions (see Funds Transfer Service Agreement)."

This statement appears to limit electronic funds transfers in and out to $2,000 maximum daily or $5,000 over any sliding 30 day window. This sounds absurd for a potentially large sized account. Does anyone know if there is any wording in the "Funds Transfer Service Agreement" that increases this substantially. Better still does anyone have a copy of or a link to their "Funds Transfer Service Agreement"?

Thanks

I have to make a correction. The first month the account is opened, the daily transfer is a maximum of $2,000. After the account is opened for 1 month it jumps to the $25,000 per day transfer limit.