I know that it could take couple days for the transfer to actually occur but their website doesn;t let me SCHEDULE the transfer before 10/12 which is Wednsday. I guess I have to get used to this peculiarity

I scheduled a transfer for Monday, November 10, and the money was debited that day and available in my bank account that same day too. I'm very impressed with their transfer system. Nothing but fantastic.

MaddHatter said:Any word on how long DSD takes to pull initial funding and open the account assuming you get the "easy path"? Then I presume one is free to make add'l fundings straight away?
IIRC, they pulled my initial funding next business day. At worst it was 2 days later. You can't do additional funding until you verify the trial deposits, but those came in the same day the initial funding was pulled.

This is just for information to those interested. I opened an account with DSD recently and have noticed that when I push money into this account from Countrywide it is available the next day without any hold. However, If DSD pulls money from my checking account, which is with a different bank, it will show a 5 business day hold. This is not an issue with me but it seems strange.

I applied today. It said the processing will take 2 days. Is this normal? My money now is sitting at a super-low-interest account. I really want to move it asap.

Treffen said:jdopple said:Withdrawing Funds and Limitations
You may make a withdrawal from your Account through electronic funds transfer to the External Account by logging on to our Web site. You may not withdraw funds by any other means. Amounts withdrawn from an Account will be deducted from the Account balance and cease accruing interest on the business day of the withdrawal. Saturdays, Sundays, and Legal Holidays are not considered business days. Under certain limited circumstances, DollarSavingsDirect, in its sole discretion, may allow non-ACH outgoing domestic wire transfers to the External Account.

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This seems odd. Does that preclude an ACH pull from another account??

Yep.

To me it's a pain in the butt. To them it's a 'security feature.'

Emigrant started this practice on the original Emigrant Direct account, contrary to the written account disclosure in place at the time and without warning, causing peoples ACH transfers to bounce.

Their response to the outcries was: "Sorry for any inconvenience."

PS. E-loan savings doesn't allow ACH pulls either, although that was clear and properly disclosed from the beginning

Security feature my a$$. Along with choking restrictions on linked external accounts, it's clearly a method to reduce outbound liquidity to any competitor.

What are the alternate banks that offer 4.00% or around 4.00% APY on savings account apart from DollarSavingsDirect

When I opened an account at DSD, I got an email asking me to call their Account Review department. When I called they asked me to email/fax a copy of my Social Security card to them. I told him I had an Emigrant Direct account already, and asked if the SS card was really necessary. He put me on hold and then said my account was now approved.

My experience has been it's easy to tranfer money into my DSD account but a REAL pain to get it out. No ACH pull makes it even more of a pain but I knew this going in. Anyway I've tried to link several external checking accounts by registering them online and sending in the voided check along with the "release" form. It's been over 2 weeks now and customer service keeps telling me it could take 3+ weeks to contact my other bank to make sure I own the account I want to link!

My question is has anyone been able to get their money out of this place? If so...how long did it take to get your external account "verified"? I would think they could verify it via trial desposits but I've had no such luck.

I opened my account about a month ago. They took the $1000 the next day after I verified the deposits. It takes about 1-2 days to withdrawl my money (most of the time its 1 day). No problems so far.