Thursday, March 24, 2005

Emigrant Direct III

So I've tried to be patient with Emigrant Direct. I signed up for the account online and did the standard sample deposits and confirmation. I waited two weeks to receive my account info in the mail. I log in and my account is not linked to the checking account that did the confirmations. After 10 highly annoying minutes on hold I finally get someone to link the account to my checking. So I go to make a deposit the next day after it finally shows up. I click to make the transaction and all I get is a confirmation number, not the confirmation amount or direction. Two days later when I go to check my balance it is lower than before. Thinking I've made a mistake and accidently withdrew instead of deposited I make another deposit. At this point there were no "pending transfers" that showed up so I could not verify the previous transaction like I can in ING or Virtual Bank.

Finally the next day the original deposit goes through for the correct amount. But who ever heard of a bank account balance being LOWERED prior to a deposit when no withdrawals have been made EVER.

It is a good thing Emigrant Direct has the highest rates otherwise their craptacular site might drive every customer away.

Current rates:

Emigrant Direct 3.25%
ING Direct 2.80%
Virtual Bank 2.80%

Emigrant Direct has been so annoying I'm still keeping most of my money in ING. I'll keep my $5 in Emigrant Direct and see if in 6 months they've improved their site.


At 4:19 AM, Anonymous Anonymous said...

I have had a similar situation with Emigrant Direct where a deposit disappeared from my account

After the account was estblished, I moved some money over to ED by ACH. I checked a few days later and the money was there - as available balance.

Then, one day I needed 10k from this account and I decide to ACH out that money and the available balance had dropped back to the account opening balance. I called the bank and it took them 3 hours to flag the money as available.

At 5:51 AM, Anonymous Anonymous said...

Did you know that you're number 5 on google on Emigrant Direct searches? One time I wanted to transfer 1,000,000,000,000 from my ED account but they wouldn't let me...because I only had 1.00 in there. They really suck.


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