April 25, 2005 03:53 PM PST
You may remember that I opened an account at Emigrant Direct to take advantage of their 3.25% APY. I received a letter today from the bank explaining that they are limiting one of their features. The letter states: As of Monday, May 23, 2005, EmigrantDirect.com will no longer accept additional deposits to the American Dream Savings Account by mail and checks received by mail on or after this date will be returned to the sender.
The letter goes on to explain the new requirement for online-only transfers. The changes won't affect me, even if I were to use Emigrant Direct as my primary savings account. However, there may be some people who find this an inconvenience.
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What do you think of this post? Be the first to share your opinions.
Working Class Millionaires (May 11, 2005)
I've decided to make a slight change in my savings habits, and coincidentally, there's an article on CNN Money that mentions the same technique. Read
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Since Bankrate.com’s list is often incomplete, here is a list of high-yielding checking and savings accounts. The table below lists the accounts and their interest rates (APY), as well as any comments, as of May 5, 2005 (5/5/5). Leave a comment if you have any ... Read
Paperless Checking at ING Direct (April 22, 2005)
I just visited my account online at ING Direct and was presented with a survey. They are considering rolling out a new product: Paperless Checking (or "Electric Orange"). Read
Emigrant Direct Account Opening (March 23, 2005)
As you may know, I am in the process of opening a savings account with Emigrant Direct, an on-line bank currently offering an interest rate yielding 3.25 percent. Read
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