I have to say that Dollar Savings Direct is by far the worst online bank I have ever dealt with. When I first attempted to open my account, they emailed me back saying there was a problem. When I called and asked what that was, they said that they needed a photocopy of my driver's license. I asked why none of their competitors need this, but of course the idiot drone that answered the phone could do nothing but regurgitate policy.

When I went to link my second account, I had to mail in a check and verification form because they have this idiotic policy that they can't verify ownership through trial deposits like every other online bank in the world. Then, when they received my check and form, they sent me a message saying that they need a copy of my latest Wamu statement (mailed of course, requiring another envelope and stamp; email/fax is no good). I am going to call tomorrow and move the funds back to CapitalOne. Even though their interest rate is a little lower, to me, it isn't worth this amount of aggravation just to use the stupid account.

Does anyone know why they have all these asinine policies?

bankrates gave DSD only 2 stars, are you guys worried at all? or it's pretty much a good bank no worries?

DSD does not require the check and the ridiculous 'this is my account' verification form for the account through which you fund your initial deposit. So I am sticking with just one linked account.
Agreed that the process is ridiculously tedious.

anyone get this to work with yodlee? They say they're working on it...but figured I'd check here.

I've had 0 issues. They are very risk-adverse like emigrant in adding extra accounts and allowing external withdraws, but I knew that when signing up. Its was extremely painless otherwise - without requiring any paper or phone calls from me. Very fast ACH as well, although with 5-day holds (just like Fidelity actually).

Can we confirm that this account is not a hard pull?

I also signed up without any issues, waiting for deposits.

yaijic said:FDIC insured?
Yes.

DollarSavingsDirect, a division of Emigrant Bank, Member FDIC, Certificate No. 12054

This account is pretty much not "liquid". No ACH pull, and only one external account (the initial funding account) for ACH push without going through at least a several-week paperwork loop. On top of that you need $1000 average daily balance to get that interest and you forfeit interest if you close the account in the middle of the month. I'm going to have to see it as something of an ultra short-term CD.

USrules said:I was trying to schedule an inbound ACH tranfer tonite (Fri evening), but the earliest available date is in 3 business days, on Wednsday... wtf? It doesn't make any sense!
The deadline to schedule a Monday transfer is 5:00 p.m. on Friday.
After that, normally the earliest you could schedule is for Tuesday.
But Tuesday is Veterans' Day, a national holiday. (How soon they forget.)