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Does anyone know if you can use this DSD account with Quicken? Thanks.

gldpurd said: hellyea81 said: So how do people get their money out of the account if they don't respond to ACH pulls?
With an ACH push.
Just log into the your account at the DSD web site by 5:00pm on a business day and schedule a push into your linked external account. The money will be there the next day.


I guess the underline question is what if DSD website is down

3 weeks and counting trying to get a second external account linked. Absolutely ridiculous "security" measure to make customers jump through.

For those just signing up, I strongly suggest that you fund with the main account you'll transfer money in and out of so you don't have to go through this BS. The funding account is linked using the usual process of 2 trial balances. 2nd account involves paperwork and weeks of waiting. I see why their bankrate.com ratings are so low.

Love the rate, hate their idiotic policies.

I'm starting the process to link my second account soon. I hope it wont take this long for me. I have had no problem pushing in and out to and from my source account as of yet.

BetterDays said: For those just signing up, I strongly suggest that you fund with the main account you'll transfer money in and out of so you don't have to go through this BS. The funding account is linked using the usual process of 2 trial balances. 2nd account involves paperwork and weeks of waiting. I see why their bankrate.com ratings are so low.

Good advice.

But looking at the bright side, it's nice that a bank with an APY this high (for now, anyway), offers any kind of ACH system at all. And it's fast (once the transfer begins), and doesn't have transfer-amount limits.

BTW, the BankRate rating is based on financial soundness, not whether they consider it a good operation. That's why the FDIC insurance is especially important with DSD.

P.S. I don't think the FAQ even mentioned the 6-monthly-withdrawal limitation. I only saw it buried deep in the long disclosures, and even then only because I was searching for it. It's bad not to be upfront about such a fundamental restriction.

dejanu said: P.S. I don't think the FAQ even mentioned the 6-monthly-withdrawal limitation. I only saw it buried deep in the long disclosures, and even then only because I was searching for it. It's bad not to be upfront about such a fundamental restriction.
The six monthly withdrawal is standard with almost any savings a/c (believe it is a federal regulation); so I did not dig through to see that limitation. Although I agree that this should be mentioned clearly.

What is the quickest way to make a transfer from Emigrant to Dollar Savings Direct? Do I have to transfer from my Emigrant Account to my checking account and then to Dollar Savings?

Is there any way to setup a push from EmigrantDirect to Dollar Savings Direct?

Thanks

uutxs said: dejanu said: P.S. I don't think the FAQ even mentioned the 6-monthly-withdrawal limitation. I only saw it buried deep in the long disclosures, and even then only because I was searching for it. It's bad not to be upfront about such a fundamental restriction.
The six monthly withdrawal is standard with almost any savings a/c (believe it is a federal regulation); so I did not dig through to see that limitation. Although I agree that this should be mentioned clearly.


I had money in UFB Traveler's Savings for a couple months when they had the guarantee of 4.00 APY through Jan 1. I was surprised when I mentioned an assumed monthly six-withdrawal limit to a CSR, and he replied that there was no such limit for that account. I later had another CSR confirm. I, too, thought such a limitation was a federal regulation.

BWS said: What is the quickest way to make a transfer from Emigrant to Dollar Savings Direct? Do I have to transfer from my Emigrant Account to my checking account and then to Dollar Savings?

Is there any way to setup a push from EmigrantDirect to Dollar Savings Direct?

Thanks


Unless you used Emigrant-Direct as your original funding account, I don't think there's any way to set up a push to DSD with their ACH system without using your checking account as an intermediate. But you might want to ask CS. Maybe they will be able to arrange it for you as an intra-bank, same-depositor transfer -- especially if you tell them you want to close out the Emigrant-Direct account.

dejanu said: BWS said: What is the quickest way to make a transfer from Emigrant to Dollar Savings Direct? Do I have to transfer from my Emigrant Account to my checking account and then to Dollar Savings?

Is there any way to setup a push from EmigrantDirect to Dollar Savings Direct?

Thanks


Unless you used Emigrant-Direct as your original funding account, I don't think there's any way to set up a push to DSD with their ACH system without using your checking account as an intermediate. But you might want to ask CS. Maybe they will be able to arrange it for you as an intra-bank, same-depositor transfer -- especially if you tell them you want to close out the Emigrant-Direct account.


I didn't think they allowed you to use your Emigrant account as your funding account because its not a checking account?

BWS said: dejanu said: BWS said: What is the quickest way to make a transfer from Emigrant to Dollar Savings Direct? Do I have to transfer from my Emigrant Account to my checking account and then to Dollar Savings?

Is there any way to setup a push from EmigrantDirect to Dollar Savings Direct?

Thanks


Unless you used Emigrant-Direct as your original funding account, I don't think there's any way to set up a push to DSD with their ACH system without using your checking account as an intermediate. But you might want to ask CS. Maybe they will be able to arrange it for you as an intra-bank, same-depositor transfer -- especially if you tell them you want to close out the Emigrant-Direct account.


I didn't think they allowed you to use your Emigrant account as your funding account because its not a checking account?


I used a non-checking account for the initial funding - E*Trade Complete Savings. You're right that the documentation says it must be checking. I tried the Savings account based on what others here have suggested, and it worked. I picked E*Trade because their excellent transfer system provides a good conduit for moving money between DSD and other accounts in the future if that becomes necessary. Obviously it wouldn't work as my second account, because there is no check to send in. As for MM's with checks, with Emigrant I was able to set up both GMAC and Zion's as linked accounts. I think it may be luck-of-the-draw as to whether that flies. If the checks actually say "Money Market" or "Savings" on them, it's less likely to work.

EDIT: That said, maybe they would have disallowed Emigrant-Direct as the original funding account because they are obviously very familiar with it, and know it's not checking. Whether it would work or not, I don't think it would be advisable to use Emigrant-Direct as one of your two linked accounts just to facilitate initial funding.

dejanu said: BWS said: dejanu said: BWS said: What is the quickest way to make a transfer from Emigrant to Dollar Savings Direct? Do I have to transfer from my Emigrant Account to my checking account and then to Dollar Savings?

Is there any way to setup a push from EmigrantDirect to Dollar Savings Direct?

Thanks


Unless you used Emigrant-Direct as your original funding account, I don't think there's any way to set up a push to DSD with their ACH system without using your checking account as an intermediate. But you might want to ask CS. Maybe they will be able to arrange it for you as an intra-bank, same-depositor transfer -- especially if you tell them you want to close out the Emigrant-Direct account.


I didn't think they allowed you to use your Emigrant account as your funding account because its not a checking account?


I used a non-checking account for the initial funding - E*Trade. You're right that the documentation says it must be checking. I tried the Savings account based on what others here have suggested, and it worked. I picked E*Trade because their excellent transfer system provides a good conduit for moving money from DSD to other accounts in the future if that becomes necessary. Obviously it wouldn't work as my second account, because there is no check to send in. As for MM's with checks, with Emigrant I was able to set up both GMAC and Zion's as linked accounts. I think it may be luck-of-the-draw as to whether that flies. If the checks actually say "Money Market" or "Savings" on them, it's less likely to work.

EDIT: That said, maybe they would have disallowed Emigrant-Direct as the original funding account because they are obviously very familiar with it, and know it's not checking. Whether it would work or not, I don't think it would be advisable to use Emigrant-Direct as one of your two linked accounts just to facilitate initial funding.

Emigrant blocks any ACH pulls, so I don't think this would work even if they were to accept it on the DSD side.

Xeon852 said: dejanu said: BWS said: dejanu said: BWS said: What is the quickest way to make a transfer from Emigrant to Dollar Savings Direct? Do I have to transfer from my Emigrant Account to my checking account and then to Dollar Savings?

Is there any way to setup a push from EmigrantDirect to Dollar Savings Direct?

Thanks


Unless you used Emigrant-Direct as your original funding account, I don't think there's any way to set up a push to DSD with their ACH system without using your checking account as an intermediate. But you might want to ask CS. Maybe they will be able to arrange it for you as an intra-bank, same-depositor transfer -- especially if you tell them you want to close out the Emigrant-Direct account.


I didn't think they allowed you to use your Emigrant account as your funding account because its not a checking account?


I used a non-checking account for the initial funding - E*Trade. You're right that the documentation says it must be checking. I tried the Savings account based on what others here have suggested, and it worked. I picked E*Trade because their excellent transfer system provides a good conduit for moving money from DSD to other accounts in the future if that becomes necessary. Obviously it wouldn't work as my second account, because there is no check to send in. As for MM's with checks, with Emigrant I was able to set up both GMAC and Zion's as linked accounts. I think it may be luck-of-the-draw as to whether that flies. If the checks actually say "Money Market" or "Savings" on them, it's less likely to work.

EDIT: That said, maybe they would have disallowed Emigrant-Direct as the original funding account because they are obviously very familiar with it, and know it's not checking. Whether it would work or not, I don't think it would be advisable to use Emigrant-Direct as one of your two linked accounts just to facilitate initial funding.

Emigrant blocks any ACH pulls, so I don't think this would work even if they were to accept it on the DSD side.


Yes, that's true, I guess it wouldn't be possible to use Emigrant-Direct as the original funding account after all (not that it would make much sense to do so for a 1-time transfer, anyway). But they might allow the intra-bank transfer after the account is set up. If not, going through another linked account is not a big deal...maybe some 1-time small interest and time loss.

dejanu said: But none of this requires any ACH pulling from DSD, whether you're referring to BWS's original question or my E*Trade example. If I want to get money from DSD to non-linked "Bank X" (regardless of account type), I would do (1) a DSD push to E*Trade, then (2) an E*Trade push to Bank X (or possible a pull by Bank X from E*Trade, if Bank X is set up to do that).
I didn't say pulling from DSD (which also isn't allowed), I said from Emigrant [Direct] (sorry if that was confusing, I realize DSD is also at EMigrant Bank). So, if you were to link it when initially opening, even if they didn't block it, 1) the pullback of the trial deposits would fail and 2) you wouldn't be able to pull the money out later. I'm saying you can't pull direct from ED. The E-trade thing may work; I do it with Fidelity since E-trade won't open an account for me due to excessive chex pulls. (Plus until recently Fidelity's moneymarket was competative with online savings, and it has real checks)

Xeon852 said:
I didn't say pulling from DSD (which also isn't allowed), I said from Emigrant [Direct] (sorry if that was confusing, I realize DSD is also at EMigrant Bank). So, if you were to link it when initially opening, even if they didn't block it, 1) the pullback of the trial deposits would fail and 2) you wouldn't be able to pull the money out later. I'm saying you can't pull direct from ED. The E-trade thing may work; I do it with Fidelity since E-trade won't open an account for me due to excessive chex pulls. (Plus until recently Fidelity's moneymarket was competative with online savings, and it has real checks)


Talk about confusing...I already realized I probably missed your point and edited my response accordingly, but not soon enough. Of course, my original response lives on in the quote.

I can't get Yodlee to pick up the account. Any hints? Did people stick with the 5 standard questions or did they choose new ones?

capnanon said: I can't get Yodlee to pick up the account. Any hints? Did people stick with the 5 standard questions or did they choose new ones?

DSD hasn't worked in Yodlee for the past 5 days or so (my account gets errors when I try to update.) I would try again after a while and hope they fix it.

I did a push from FNBO last night and had my trial deposits in the account this morning. I guess I may have to do a pull later for the next account our use the primary as a landing pad before I tranfer to the next bank. Hopefully they will stay competitive and not have to force a move. Then again who knows what rates will be soon.

BurningToad said: capnanon said: I can't get Yodlee to pick up the account. Any hints? Did people stick with the 5 standard questions or did they choose new ones?

DSD hasn't worked in Yodlee for the past 5 days or so (my account gets errors when I try to update.) I would try again after a while and hope they fix it.

DSD was rejecting my password for some reason. I reset it to the same thing and forced Yodlee to refresh and it worked fine.

Xeon852 said: BurningToad said: capnanon said: I can't get Yodlee to pick up the account. Any hints? Did people stick with the 5 standard questions or did they choose new ones?

DSD hasn't worked in Yodlee for the past 5 days or so (my account gets errors when I try to update.) I would try again after a while and hope they fix it.

DSD was rejecting my password for some reason. I reset it to the same thing and forced Yodlee to refresh and it worked fine.

It looks like it just started working again today. Thanks for the heads up.

I see a lot of info in this thread on turnaround time for pushes from DSD, but I'm not clear on pull timing. If I schedule a DSD pull from an external account at, say, noon ET on a business day, will it show up as a deposit to DSD the same day? If not, when? (Normally I would just do a test pull to find out, but I only have one external account right now and it has withdrawal limits.) Thanks.

dejanu said: I see a lot of info in this thread on turnaround time for pushes from DSD, but I'm not clear on pull timing. If I schedule a DSD pull from an external account at, say, noon ET on a business day, will it show up as a deposit to DSD the same day? If not, when? (Normally I would just do a test pull to find out, but I only have one external account right now and it has withdrawal limits.) Thanks.
You can only PUSH FROM DSD. You will see it in your other account the day of the transfer request. (The withrawal in DSD and the deposit in other account will be same day.)

You can PULL TO DSD or PUSH TO DSD. If you PULL TO DSD, you will see it in DSD the day of the transfer request. (The deposit in DSD and the withdrawal in other account will be same day.) Interest will accrue from the day of deposit (meaning no lost interest days).

You cannot PULL FROM DSD. To withdraw funds, you must setup transfer at DSD. When setting up transfers at DSD, you tell it the day to take place (soonest next day if before 5PM EST).

dejanu said: I see a lot of info in this thread on turnaround time for pushes from DSD, but I'm not clear on pull timing. If I schedule a DSD pull from an external account at, say, noon ET on a business day, will it show up as a deposit to DSD the same day? If not, when? (Normally I would just do a test pull to find out, but I only have one external account right now and it has withdrawal limits.) Thanks.
When you request a push or pull at the DSD web site, you specify the date you want the push or pull to occur. The earliest date you can request is the following business day, provided you make the request by 5:00 p.m. ET on a business day.

The earliest you can request a pull to occur is the following business day and the day you request is the day it will show up as a deposit.
You will begin earning interest the day it shows up as a deposit. Because of the five business day hold, it will not be available for withdrawal until one week after the day of deposit (a day later if there is a banking holiday during the hold period). Remember that January 19 is a holiday,.

Wow, quick answers! Thanks for the replies and the extra info.

EDIT: I originally posted that there was some disagreement between the two responses, but after re-reading I see that's not the case. I want the funds pulled by DSD to show up there on Friday of this week, so it looks like sometime before 5pm ET Thursday I should schedule a Friday pull.

Well I applied online and they are telling me there is a discrepancy so I get to call them. I never had this issue with my ED account.

Me too-- asked me verify wife birthdate and send drivers license.

Exact same "problem" with my application - asked me to verify my wife's birthdate and send a copy of drivers license. Sounds fishy to me. Maybe their account review department needs extra work so they randomly flag accounts for unnecessary "verification".

Same set of information worked fine when opening two joint CD accounts at other institutions within the last week, so there's nothing special about her license that should throw a red flag.

I snail mailed my request form and voided check to link a second account on 12/31/08. The micro deposits arrived today and the account is now linked. 2-weeks total, not too bad IMO. And they are still holding at 4.00% which is very cool. Even if they eventually lower the rate, as long as they are holding up to their self-proclaimed "America's Highest Rate" - I will stick around!

Working on linking a second account, and I got a message from their customer service that Bank of America now wants to CHARGE $25 for account verifications. In order to avoid the fee they (DollarSavingsDirect) requested that on top of the voided check I mail a copy (or email a PDF) of a recent bank statement. Yet another layer of hassle, but at least this time it doesn't seem like it's their fault. F'in BofA.

boogaooga said: Working on linking a second account, and I got a message from their customer service that Bank of America now wants to CHARGE $25 for account verifications. In order to avoid the fee they (DollarSavingsDirect) requested that on top of the voided check I mail a copy (or email a PDF) of a recent bank statement. Yet another layer of hassle, but at least this time it doesn't seem like it's their fault. F'in BofA.
This is somewhat normal. Heck, my employer charges for employment verification (through a 3rd party though).

Read the summary. DSD do not allow pull from any other outside source; you can pull and push to DSD though.

If you cannot do ACH pulls, does this mean you cannot use for billpay pulls either?

anyone able get the Quicken to pull the info from DSD account ?

What happens when somebody makes a withdrawal of the entire sum from his/her DSD account to his external account?
For example, if I have $10,000 on DSD account and schedule to transfer total $10,000 to WM - is there any penalty, or account service fee or any other fees that take place?
What will happen to my account with the $0 balance left in it? Will it still be active or will it be closed?
Thanks.

puffycat said: What happens when somebody makes a withdrawal of the entire sum from his/her DSD account to his external account?
For example, if I have $10,000 on DSD account and schedule to transfer total $10,000 to WM - is there any penalty, or account service fee or any other fees that take place?
What will happen to my account with the $0 balance left in it? Will it still be active or will it be closed?
Thanks.


Whoa, careful!! If your balance falls to zero, you will immediately forfeit any accrued but not-yet-paid interest! This is stated in the disclosures, and judging from an unhappy poster they really mean it. To be on the safe side I'd say be sure to leave in a minimum of $1.01.

The account would probably remain open, at least until your state's dormancy period is reached, but for $1.01 (which is essentially nothing) why take any chances?

BTW, DSD has no fees at all unless you make a wire transfer, which is discouraged and is allowed soley to pull in funds from one of your linked accounts (so there's little reason to use a wire anyway).

DAWG said: If you cannot do ACH pulls, does this mean you cannot use for billpay pulls either?

DSD doesn't offer billpay. If that's not what you were asking please clarify. But just remember that no other institution is allowed to pull funds from DSD, by ACH, wire or any other means.

Fyi, they do not accept check deposits (even from one of your funding accounts), except for initial funding.

dejanu said: DAWG said: If you cannot do ACH pulls, does this mean you cannot use for billpay pulls either?

DSD doesn't offer billpay. If that's not what you were asking please clarify. But just remember that no other institution is allowed to pull funds from DSD, by ACH, wire or any other means.

Fyi, they do not accept check deposits (even from one of your funding accounts), except for initial funding.


Sorry, meant to ask if credit card cos. (or other billers) could pull a payment (within the 6 limit)?

No, they can't.

Xeon852 said: DSD was rejecting my password for some reason. I reset it to the same thing and forced Yodlee to refresh and it worked fine.
woohoo, thanks!

Just opened an account and linked to my FlagstarMMA as my funding source. Seems to have gone through ok, but with today being MLK day, I guess I'll see if there are any hiccups tomorrow. Will also try to add my NatCity checking account as a secondary external account.



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