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Originally Posted by zeke01
Emigrant Direct is absolutely the worst bank I have ever dealt with. I went through the process of opening an account on Feb 24, the initial deposit was taking out on Feb 28 and I still have not received any letter from them on the account number, how to access the account, etc and it is March 12!!!. In a not so polite way I have written both the president of Emigrant Savings and the Office of Thrift Management (they are a savings bank so have a different set of regulators than a commercial bank) on their horrible customer service and record keeping. When I called the 800# to inquire to confirm transaction dates they were completely useless. STAY AWAY FROM EMIGRANT!!!
I plan to close the account as soon as I can. 3% means nothing if you have no confidence in the institution. Emigrant wants to be an internet bank, but relative to ING and CapitalOne, they don't even rate a zero.
I must not be the only one with issues with Emigrant. There are a couple of blogs that been set up specifically for people to share their stories!
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Let's take this in pieces:
Emigrant Bank is the best online bank I have dealt with.
It does take a few weeks to get your account number in the mail but so what? You can't withdraw the money for a few weeks anyway. ING doesn't send an account number but they make you wait before you can withdraw the money, so there's really no difference between the two. Emigrant wants to confirm that you are at the physical address you gave them.
I rate Emigrant highly because they pay a higher rate than other online banks and I didn't have any problems signing up. I have never called them and I don't see any reason to in the future.
I agree that there are many people complaining, but their reasons don't make much sense. Your account number will arrive and you will be able to see the amount of interest that had accrued while you were waiting.
RELAX !!