Not sure how they do interest but probably a good Idea to not go to the lowest tier until your interest gets posted.

ajulius said:Checked, got my funds back, verified 2 test deposits and now the website is down and rates have been dropped. Will be initiating full transfer right now for the entire funding as I no longer trust them minus $1. I am so glad the transfer went through so I was able to verify the test deposits.

Now I have to lose multiple days interest because I have to initiate it from my other bank, as well as the rate decrease, things didnt work out with this bank to say the least.

How long does Amtrust require accounts to be open? 6 months? I dont even want them to have my $1 in them anymore. This was the WORST online bank move Ive ever made. Even Emigrant which had issues wasnt even this bad.

Thought Amtrust would be good because it was a South Florida bank that my relatives used but I was dead wrong.

I guess BOA rates on thier AAA MMA with no need to ACH at all is looking pretty good eh? Can collect interest right away keep all your money locally and withdraw it instantly if things change without any headaches.

Some account information is not available at this time. The balance displayed is a temporary "stand-in" amount, not your actual balance. Today payments and transfers may be limited or may fail if you have insufficient funds in your account.

AmTrust Bank

My account info now says 0 balance. I initiated a transfer with the other bank and now this bank is FORCING ME TO KEEP FUNDS IN because if I transfer it will be using a 0 balance figure. I will NOT be cancelling the transfer and instead if the transaction fails I will be going after this bank hard because my balance IS EXACTLY THE BALANCE THAT I PUT IN and was SUPPOSED TO BE AVAILABLE ON THIS DAY.

I logged in multiple times, got $0 balance and above message, other times got full balance in the account. I have no clue what is going on.

***e-Money Market Accounts require a $1,000 minimum to open. e-Money Market tiered APYs for balances are as follows: $1.00-$24,999.99 is 5.30%; $25,000-$49,999.99 is 5.30%, $50,000 and over is 5.30%. Fees could reduce earnings on the account. Rates may change at any time after account is opened.

Says 5.30% again. Cancelled fund transfer for now. Dont know what is going on.

Will probably just keep funds in the account for now.

scott1961 said:ajulius said:

Says 5.30% again. Cancelled fund transfer for now. Dont know what is going on.
I just called again and they know nothing about rate drop. I think somehow AnTrustDirect and AmTrust got interchanged. Funny cause I have seen sites show the wrong rate but I called the same number that had told me that it did drop

Amtrust is a VERY stable bank so its not going anywhere, its just that the online division is absolutely CLUELESS. Its not like anyone is acting dishonestly, they are acting 100% CLUELESSLY. Theres a difference here. E-loan is a higher rate but since I have funds already at Amtrust it doesnt pay to switch it right now.

BankDeals Guy posted that the rate was an IT/Web typo, not a reduction in rate.

dcharles said:scott1961 said:Worst part is I'm sure craig10x will be here any second with "I told you so" maybe not ... over on the ELOAN thread he is recommending AmTrust

Actually, my BEST recommendation is getting the free checking-5% Savings package with WAMU and be done with it!!!

craig10x said:

Actually, my BEST recommendation is getting the free checking-5% Savings package with WAMU and be done with it!!!
For you that is the best thing to do. If your total savings our under $100k the smartest thing to do is go with one bank that offers the full range of services you need and makes for a very little difference if it's a 1/4% or so lower than other accounts. I get what your trying to say about rate chasing and understand why it's not worth it for many but there are people here who need to do it for other reasons, Like keeping all your money insured. Since people have different reasons to move money around maybe it would be for the best if you just stopped the commenting on why it's not worth it.

swantz84 said:Is it true you can only of 6 withdrawls?
No, If they like you then you get unlimited

Is the money compounded daily like GMAC?

Ok Scott...you're right....i will...And yes, you sized it up pretty good....for people with balances way under 100k, it does make alot of sense to try to get an all-in-one, convenient package with a very good yield....as i did...and the small difference in yield will not make that much difference...

By the way, i can't comment on Amtrust..since i didn't have an account with them (though they seem pretty good from what i mostly have heard here) I can say that i had Amboy direct for over 6 months, and found they were great, and never had any problems at all....Only reason i left was for the convenience of the "all-in-one" Wamu package....

Only other bank i have is EBank, and use them mostly for the atm flexibility (they give free unlimited atm rebates) for cash convenience when i am not near a WAMU....I actually do have more then 100k, but it's mostly in my Fidelity IRA (in good mutual funds) and Treasury Direct (mostly in bonds)....But my immediate (bank) money only totals about 25,000....so for me, rate chasing wouldn't significantly pay off...

I like WAMU very much (and actually think EBank is an excellent bank for a "small" bank)......