Re: Which one would YOU choose? Emigrant or Amboy Direct?
I signed up for Amboy's 5.05% offer, which was the very highest of the online banks at the time. Great rate, but terrible web site.
The web site you actually conduct your business on is primitive to say the least. It certainly doesn't look like it was designed by a professional. Also, you can only link to one checking account, and you can only transfer funds in or out of that account. Period.
Also, you cannot set up an automatic deposit scheme. One of the things I was going to do after opening this account was set up an automatic deposit every payday, so funds would be taken before I had a chance to see them. Sorry, can't do it. And you don't find this out until you've already signed up.
I emailed their customer service, and they said they could set one up for me if I emailed them the details. Yeah, I can just see how fun that will be when I want to change or stop it.
So my plan for now is to keep my Ing Direct account open, and set it up to do automatic deposits, and then maybe once every few months, transfer that to my checking and then to Amboy Direct for the higher interest rate. If some other online bank comes up with a better rate and Amboy doesn't match, then I'm outta there!
Great Rates, but the banking options and web site experience suck!
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