For those concerned about the "push" only mechanism, I began a transfer yesterday from my DollarSavingsDirect account to my Suntrust checking account. The money was already in my Suntrust account this morning.

Basically, as long as you make the push before 5pm EST, the money will show up in your external account the next day. I'd say that's fantastic service.

So, all ranting aside, has anyone decided to open an account there? Was it difficult?

fortezza said:So, all ranting aside, has anyone decided to open an account there? Was it difficult?

Opened with ease. No longer have to mail in a check for $1.00 to get the initial link setup.

-cp

Anyone knows the bank Routing number?

linktodeal said:We can put up to $250,000 under one account in order to get FDIC now? Is this correct?

yes

None of you have had any inquiries on your credit reports from opening this account?

ajohnamous said:ccrzhh said:Refusal to Permit Withdrawal
T... Act of God, including, but not limited to war, act of terrorism ...

Since when are war and an act of terrorism considered acts of God? Who wrote these rules up? Hezbollah?

But seriously, the whole clause concerns me, anyone know if this wording is typically found in the fine print of other savings accounts?

CNBBankDirect (another 4% account) does not have such clause (at least I did not find any).

Take into consideration that (1) is independent of (8)

Refusal to Permit Withdrawal
The Bank may refuse to permit withdrawals in cases such as, but not limited to, the following:
1. The Bank chooses to exercise its legal rights to require up to 60 days advance written notice of any intended withdrawal (!!!) from this Account and the 60 days have not passed since we received the required notice from you;
...or
8. An equipment problem or Act of God, including, but not limited to, war, strike, act of terrorism which prevents the Bank from determining the availability of funds.

So, if the they start having some difficult times like liquidity problems, they just can decide to "choose... to require up to 60 days advance written notice of any intended withdrawal". Written notice means several more days in the mail...

BTW, their EmigrantDirect version has the same clause.

So far I decided to stay away. Just in case.

I'm having a hard time understanding the difference in this account and the EmigrantDirect acct. I have an EmigrantDirect acct so this seems strange to have to open up another acct with the same bank in order to get the higher rate.

I'm considering it though. What's the easiest way to open it with an existing acct with them. It's been so long since I opened up the other I've just about forgot what all I did.

Thanks!!

I'm considering moving my money from FNBO since they dropped their rate. Is this a good bank to move it to?

gate09 said:I'm considering moving my money from FNBO since they dropped their rate. Is this a good bank to move it to?

I'm also looking to make the move. Is it possible to fund this account from FNBO? From the application...

DollarSavingsDirect said:When adding a funding account, we can only accept checks from personal checking accounts in your name (for joint accounts, the account must be held in the name of both depositors). The following types of checks are not eligible to be linked to your account: checks from brokerage/investment accounts, money market checks, checks with the wording "Payable Through" on them, credit card checks, starter checks, or checks drawn on foreign banks.

is there any way around this? Thanks for the help.

-Lucky