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adios dsd hello navyfcu 3.85% $5k max/3% MM 6-month

Sent an application for Broadway Fed. It's 1% more than DSD and I frankly am fed up with DSD's rate drops every other day

DSD said: *Highest Nationally Advertised Annual Percentage Yield for day of deposit to day of withdrawal savings accounts with no fees and $1000 minimum.

Wow, that's like fine print in the fine print.

How are you guys pulling your money out? I tried initiating a pull through E*Trade and DSD blocked it! They are telling me I can only transfer my money into a checking account - they will not allow transfer of funds into savings accounts or brokerage accounts. They had no problem accepting transfers FROM savings or brokerage accounts, though. This is completely bogus. I am shutting my account as soon as I collect my interest for the month.

savoirfaire said: How are you guys pulling your money out? I tried initiating a pull through E*Trade and DSD blocked it! They are telling me I can only transfer my money into a checking account - they will not allow transfer of funds into savings accounts or brokerage accounts. They had no problem accepting transfers FROM savings or brokerage accounts, though. This is completely bogus. I am shutting my account as soon as I collect my interest for the month.

I did a push to Fidelity.

Jeez - I opened this account from GMAC less than a month ago and the rate has fallen from 3.05% to 2.05%. Ridiculous!

savoirfaire said: How are you guys pulling your money out? I tried initiating a pull through E*Trade and DSD blocked it! They are telling me I can only transfer my money into a checking account - they will not allow transfer of funds into savings accounts or brokerage accounts. They had no problem accepting transfers FROM savings or brokerage accounts, though. This is completely bogus. I am shutting my account as soon as I collect my interest for the month.

That's how it's worked for EmigrantDirect and DSD for quite a while now. You can't pull money from an account that's not your primary funding account or one that isn't linked.

Drinyth said: savoirfaire said: How are you guys pulling your money out? I tried initiating a pull through E*Trade and DSD blocked it! They are telling me I can only transfer my money into a checking account - they will not allow transfer of funds into savings accounts or brokerage accounts. They had no problem accepting transfers FROM savings or brokerage accounts, though. This is completely bogus. I am shutting my account as soon as I collect my interest for the month.

That's how it's worked for EmigrantDirect and DSD for quite a while now. You can't pull money from an account that's not your primary funding account or one that isn't linked.


Well, it's by far the most restrictive ACH transfer policy that I've seen so far. Good riddance, I guess.

Drinyth said: That's how it's worked for EmigrantDirect and DSD for quite a while now. You can't pull money from an account that's not your primary funding account or one that isn't linked.

You cannot pull money from ED/DSD, period. Money has to be pushed from ED/DSD.

Thanks for the info. I didn't realize this until 2 tries with GMAC. Now pushing it to my Fidelity account.

calisoldier83 said: adios dsd hello navyfcu 3.85% $5k max/3% MM 6-monthI joined NavyFCU yesterday and just finished opening the 3% 6 month share certificate. I did not bother with the 3.85% certificate since the $5K max and the strings attached to it make it pretty unattractive.

The nice thing about their certificates is the fact that they backdate them to the day the transfer is initiated (so, the interest clock on my share certificate starts today), so there is no loss of interest. The annoying thing is the fact that their transfer system doesn't accept more than $99,999 per transfer, so the transfers have to be split up. As a result, I ended up spending 40 minutes on the phone with them working through all these issues but at least it is done.

I also opened yet another NEA account with BOA and am transferring a large chunk of the money there as well to keep it liquid. At about 2.70% it's not too bad.

2.05% APY now.

i'm surprised these guys are still at 2.05, it must have been a whole week without another rate drop...

matthewgs said: i'm surprised these guys are still at 2.05, it must have been a whole week without another rate drop...

Based on their definition, they could lower it to 0.01% APY and still call it "America's highest rate".

Looks like they are going to drop the "America's Highest Rate" claim, and it also looks like they aren't going to try anymore - RUN!

"Dear Valued Customer,

Thank you for contacting Dollar Savings Direct. We truly appreciate this opportunity to assist you.

Thank you for your feedback. Our Marketing Department is aware of this information ans is currently working in removing the 'America's Highest Rate' banner from our website.

If you have any questions, please do not hesitate to contact us at 1-866-395-8693. We are here to assist our customers seven days a week from 8:00am to 11:30pm Eastern Time.

Once again, thank you for contacting Dollar Savings Direct.

Sincerely,

Tonya"

DSD credits interest at the end of the month. That makes next week an attractive time to close out the account.

Anybody have luck pushing to GMAC online savings? If so, what's the best strategy (time/day)?

ThePessimist said: DSD credits interest at the end of the month. That makes next week an attractive time to close out the account.
I can't wait to close my account completely with this ridiculous bank. They have been nothing but a PITA ever since I opened an account with them.

EDIT: Removed incorrect info about account balance minimum after RiversideTom's bump below. Thanks. I can be DSD free even sooner now!

dejanu said: 12Turtles said: Yes, I have the $1k min in there until 3/1 just to ensure I get the interest credit from balances earlier in the month, when rates were decent.

You don't necessarily have to leave $1,000 in each day as long as the daily average for the statement period (which is calendar month with DSD) comes out greater than $1,000.

The relevant passage from the disclosures, in the "Compounding And Crediting Of Interest" section is:

You are required to maintain a minimum average daily balance of $1,000.00 in your Dollar Savings Account for the statement period in order to receive the advertised APY.

(But don't let it fall to zero or you'll get NOTHING for the month, regardless of the daily balance! And beware lest this is one of those banks that considers any thing under $1.00 "zero.")

That said, even though I'd easily make the $1,000 daily average if I move all but $2 elsewhere right away, I'd gain at most about 60 cents interest. But I'm a greedy B------ and ticked with DSD for the rate plummet, so I'm going to do it.


Bump

ThePessimist said: DSD credits interest at the end of the month. That makes next week an attractive time to close out the account.Agreed, I have a feeling they will be losing a lot of accounts (myself included) on Apr 1. I really like the idea of a completely paperless online savings account, am fond of the site's easy to use interface and the quickness of the transfers between DSD and my BoA checking. To bad their rates completely blow right now.

I know I'm gone from them, today! Good riddance DSD!

Uhm.. OK my spelling is correct, but displays wacky after posting??? Fatwallet got a virus or something? LOL (Unless, it is due to a certain calendar day.... That's funny!!!!)

depreshun said: I know I'm gone from them, today! Good riddance DSD!

Uhm.. OK my spelling is correct, but displays wacky after posting??? Fatwallet got a virus or something? LOL (Unless, it is due to a certain calendar day.... That's funny!!!!)


Yep, me too. Set my transfer for tomorrow to clean it out. Hasta DSD!

Closed mine out a couple weeks ago. Couldn't even wait for the interest to credit.

Lousy interface, had to send them a check to link a second bank, rate dropped several times in a few weeks time... that's enough for me.

And now it's official - on the main page, they took away "America's Highest Rate", and replaced it with "A dollar saved is a dollar earned." Buh-bye.

sethdallob said: And now it's official - on the main page, they took away "America's Highest Rate", and replaced it with "A dollar saved is a dollar earned." Buh-bye.

Well, it's nice to see they've given up on false advertising to lure new accounts. Only took them about 3 months...

www.dollarsavingsdirect.com is not loading....

can someone verify if it is my system or are they down?

lillazyfats81 said: www.dollarsavingsdirect.com is not loading....

can someone verify if it is my system or are they down?

Loading and logging in works for me. Probably your system.

ctujackbauer said: lillazyfats81 said: www.dollarsavingsdirect.com is not loading....

can someone verify if it is my system or are they down?

Loading and logging in works for me. Probably your system.



thanks for the verfication...

switched my DNS settings, and it appears OpenDNS is having issues resolving that address... (4.2.2.2 works ok)

Current APY is 2.00%, effective ~4/27.

c3 said: Current APY is 2.00%, effective ~4/27.
Wow, that's the first time this year they've gone over a month before dropping the rate again!

ThePessimist said: c3 said: Current APY is 2.00%, effective ~4/27.
Wow, that's the first time this year they've gone over a month before dropping the rate again!

...and by today's standard's it's a pretty decent rate. But I'm not planning on adding anything back into that account beyond the $2.00 I left there months ago "just in case."

down to 1.7%!!!

Yeah what's up with that? So many banks much higher than them. Also, why do they limit us to 1 linked checking account?? (supposed to be two but for some reason it balks after 1 for me)

balor124 said: why do they limit us to 1 linked checking account?? (supposed to be two but for some reason it balks after 1 for me)I was able to add a second linked checking account. It's just a pain because they require you to mail them a voided check.

Actually, they are flexible on the voided check requirement. I asked them what I could do to link an account that I don't have any checks for (it's a checking account, but I never ordered checks). They said to mail them a copy of a bank statement, or a letter from the bank stating my name, account #, routing #, signed by a bank official, on bank letterhead. I did the letter option since I didn't have a statement yet (I also had them explicitly mention in the letter that it's a checking account). 3 business days after I mailed the letter to DSD, they told me they received it and to look for the verification deposits. The verification deposits appeared the next business day.

Pushing all of the money of the DSD account to another bank automatically closes the DSD account, correct?

Are there any fees to transfer your money out of DSD? Thanks!

ACH!



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