Comments on: Say Goodbye to Emigrant Direct http://www.thesunsfinancialdiary.com/personal-finance/say-goodbye-to-emigrant-direct/ Thu, 21 Aug 2008 21:02:35 +0000 http://wordpress.org/?v=2.6 By: Sun http://www.thesunsfinancialdiary.com/personal-finance/say-goodbye-to-emigrant-direct/#comment-28920 Sun Wed, 21 Nov 2007 05:30:23 +0000 http://www.thesunsfinancialdiary.com/personal-finance/banking/say-goodbye-to-emigrant-direct/#comment-28920 Pete: So far those banks that have been hit hard are those either provided subprime loans or had investments that tied to the loans. I am not sure whether Emigrant Direct is in that business or if so how big is the business, at least I haven't heard anything. However, I won't worry too much about the money in the savings account. The money is insured by FDIC up to $100,000. I think your money is save as long as it's under $100,000. Pete: So far those banks that have been hit hard are those either provided subprime loans or had investments that tied to the loans. I am not sure whether Emigrant Direct is in that business or if so how big is the business, at least I haven’t heard anything. However, I won’t worry too
much about the money in the savings account. The money is insured by FDIC up to $100,000. I think your money is save as long as it’s under $100,000.

]]> By: Pete Young http://www.thesunsfinancialdiary.com/personal-finance/say-goodbye-to-emigrant-direct/#comment-28780 Pete Young Mon, 19 Nov 2007 22:33:11 +0000 http://www.thesunsfinancialdiary.com/personal-finance/banking/say-goodbye-to-emigrant-direct/#comment-28780 Today is Nov. 19th. The stock market just dropped another 200 points plus. Citibank is in trouble according to Goldman Sack - predicting another major subprime write down in addition to the $11B. Citi already announced. Is Emigrant going to be hit next? Shall we close our saving account there just to be safe? Thanks in advance for any insights! Today is Nov. 19th. The stock market just dropped another 200 points plus. Citibank is in trouble according to Goldman Sack - predicting another major subprime write down in addition to the $11B. Citi already announced.

Is Emigrant going to be hit next?

Shall we close our saving account there just to be safe?

Thanks in advance for any insights!

]]> By: Louis http://www.thesunsfinancialdiary.com/personal-finance/say-goodbye-to-emigrant-direct/#comment-24408 Louis Tue, 02 Oct 2007 03:53:56 +0000 http://www.thesunsfinancialdiary.com/personal-finance/banking/say-goodbye-to-emigrant-direct/#comment-24408 O.K. No worries, I guess, since Emigrant is FDIC insured. Sorry, false alarm. Louis O.K. No worries, I guess, since Emigrant is FDIC insured. Sorry, false alarm.
Louis

]]> By: Louis http://www.thesunsfinancialdiary.com/personal-finance/say-goodbye-to-emigrant-direct/#comment-24407 Louis Tue, 02 Oct 2007 03:35:05 +0000 http://www.thesunsfinancialdiary.com/personal-finance/banking/say-goodbye-to-emigrant-direct/#comment-24407 Anyone concerned how deep the sub-prime mess goes? Do any of these banks invest in collateralized debt obligations? How safe is our money? FDIC insured? Just a little bit curious. Louis Anyone concerned how deep the sub-prime mess goes? Do any of these banks invest in collateralized debt obligations? How safe is our money? FDIC insured?
Just a little bit curious.
Louis

]]> By: Investing » Say Goodbye to Emigrant Direct http://www.thesunsfinancialdiary.com/personal-finance/say-goodbye-to-emigrant-direct/#comment-23752 Investing » Say Goodbye to Emigrant Direct Tue, 25 Sep 2007 00:03:55 +0000 http://www.thesunsfinancialdiary.com/personal-finance/banking/say-goodbye-to-emigrant-direct/#comment-23752 [...] masterdan wrote an interesting post today onHere’s a quick excerptBut Emigrant Direct also appeared to be the only bank that actually dropped their savings rate while newcomers and competitors were trying to catch up or hold their customer basis by offering 5.30+% APY. To me, Emigrant Direct, … [...] [...] masterdan wrote an interesting post today onHere’s a quick excerptBut Emigrant Direct also appeared to be the only bank that actually dropped their savings rate while newcomers and competitors were trying to catch up or hold their customer basis by offering 5.30+% APY. To me, Emigrant Direct, … [...]

]]> By: John http://www.thesunsfinancialdiary.com/personal-finance/say-goodbye-to-emigrant-direct/#comment-16038 John Sat, 28 Jul 2007 16:44:23 +0000 http://www.thesunsfinancialdiary.com/personal-finance/banking/say-goodbye-to-emigrant-direct/#comment-16038 Don't forget about the Emigrant 1.4% cashback credit card. To get 1.4% cashback, you must keep 10k in the Emigrant account. I charge enough on the card so that it more than makes up for the lower 5.05% rate (I never figured it out exactly, but I probably make about 5.75% on that 10k). Of course, it doesn't make sense to keep more than 10k in the Emigrant account; I transfer the excess money out periodically. I just received an offer for the Chase Freedom card in the mail. It pays 3% cashback on "your top three" spending categories that month. Like Prism says, where your money goes is a moving target. I'm now deciding if it makes sense to get this card and switch some/all of my EmigrantDirect credit card activity here (which means emptying my EmigrantDirect account as well). Don’t forget about the Emigrant 1.4% cashback credit card. To get 1.4% cashback, you must keep 10k in the Emigrant account. I charge enough on the card so that it more than makes up for the lower 5.05% rate (I never figured it out exactly, but I probably make about 5.75% on that 10k). Of course, it doesn’t make sense to keep more than 10k in the Emigrant account; I transfer the excess money out periodically.

I just received an offer for the Chase Freedom card in the mail. It pays 3% cashback on “your top three” spending categories that month. Like Prism says, where your money goes is a moving target. I’m now deciding if it makes sense to get this card and switch some/all of my EmigrantDirect credit card activity here (which means emptying my EmigrantDirect account as well).

]]> By: Closing of Emigrant Direct Account Delayed | The Sun’s Financial Diary | A Personal Finance Blog on Saving and Investing http://www.thesunsfinancialdiary.com/personal-finance/say-goodbye-to-emigrant-direct/#comment-15882 Closing of Emigrant Direct Account Delayed | The Sun’s Financial Diary | A Personal Finance Blog on Saving and Investing Fri, 27 Jul 2007 13:48:13 +0000 http://www.thesunsfinancialdiary.com/personal-finance/banking/say-goodbye-to-emigrant-direct/#comment-15882 [...] weekend I emailed Emigrant Direct to close my account. While there isn’t really additional issue that prevents me from shutting down the account [...] [...] weekend I emailed Emigrant Direct to close my account. While there isn’t really additional issue that prevents me from shutting down the account [...]

]]> By: junger http://www.thesunsfinancialdiary.com/personal-finance/say-goodbye-to-emigrant-direct/#comment-15098 junger Mon, 23 Jul 2007 02:39:37 +0000 http://www.thesunsfinancialdiary.com/personal-finance/banking/say-goodbye-to-emigrant-direct/#comment-15098 I was going to open an Emigrant account way back when they were one of the top APY providers, but since there was physical paperwork involved, it just didn't make since. I was going to open an Emigrant account way back when they were one of the top APY providers, but since there was physical paperwork involved, it just didn’t make since.

]]> By: MoneyNing http://www.thesunsfinancialdiary.com/personal-finance/say-goodbye-to-emigrant-direct/#comment-15078 MoneyNing Mon, 23 Jul 2007 00:37:27 +0000 http://www.thesunsfinancialdiary.com/personal-finance/banking/say-goodbye-to-emigrant-direct/#comment-15078 TJP: Most people will tell you to go with whichever has the higher yield. Some banks might have bad customer service etc etc, but does it really matter if all you are looking for is building wealth? Sun: Good for you! The less accounts, the better! TJP: Most people will tell you to go with whichever has the higher yield. Some banks might have bad customer service etc etc, but does it really matter if all you are looking for is building wealth?

Sun: Good for you! The less accounts, the better!

]]> By: TJP http://www.thesunsfinancialdiary.com/personal-finance/say-goodbye-to-emigrant-direct/#comment-14982 TJP Sun, 22 Jul 2007 15:05:52 +0000 http://www.thesunsfinancialdiary.com/personal-finance/banking/say-goodbye-to-emigrant-direct/#comment-14982 I really like Emigrant Direct, even though I cannot setup automatic ACH transfer into my brokerage accounts. How would you rank the high yield online savings accounts? I've been thinking about ING for a long time. I really like Emigrant Direct, even though I cannot setup automatic ACH transfer into my brokerage accounts.

How would you rank the high yield online savings accounts? I’ve been thinking about ING for a long time.

]]> By: 2million http://www.thesunsfinancialdiary.com/personal-finance/say-goodbye-to-emigrant-direct/#comment-14951 2million Sun, 22 Jul 2007 10:32:12 +0000 http://www.thesunsfinancialdiary.com/personal-finance/banking/say-goodbye-to-emigrant-direct/#comment-14951 I like Emigrant Direct because their transfers happen so fast compared to the other online bank accounts. I'm leaving my account open to help seperate some of my funds (ie rental income). I like Emigrant Direct because their transfers happen so fast compared to the other online bank accounts. I’m leaving my account open to help seperate some of my funds (ie rental income).

]]> By: Prism http://www.thesunsfinancialdiary.com/personal-finance/say-goodbye-to-emigrant-direct/#comment-14944 Prism Sun, 22 Jul 2007 09:55:55 +0000 http://www.thesunsfinancialdiary.com/personal-finance/banking/say-goodbye-to-emigrant-direct/#comment-14944 you wrote: "Still a long way to go to live a simple life, but we will get there." No, you will NOT get there. Reducing the number of your accounts will not simplify your life. Whatever bank account, car insurance, cell phone plan, credit card, etc. that you have, you will be changing it in a year. Its a moving target. To simplify your life you would need to _freeze_ all of your accounts. In a couple of years you will be over paying (or under earning) on all accounts. That is simple! you wrote: “Still a long way to go to live a simple life, but we will get there.”

No, you will NOT get there. Reducing the number of your accounts will not simplify your life.

Whatever bank account, car insurance, cell phone plan, credit card, etc. that you have, you will be changing it in a year. Its a moving target.

To simplify your life you would need to _freeze_ all of your accounts. In a couple of years you will be over paying (or under earning) on all accounts. That is simple!

]]> By: Dennis http://www.thesunsfinancialdiary.com/personal-finance/say-goodbye-to-emigrant-direct/#comment-14906 Dennis Sun, 22 Jul 2007 04:14:06 +0000 http://www.thesunsfinancialdiary.com/personal-finance/banking/say-goodbye-to-emigrant-direct/#comment-14906 I will be moving all of my money out of Emigrant Direct at the end of this month too. Mainly because I had a horrible experience with their customer service and have sworn off their bank forever. I will be moving all of my money out of Emigrant Direct at the end of this month too. Mainly because I had a horrible experience with their customer service and have sworn off their bank forever.

]]> By: Roundup for week of 16 July 2007: Mojave edition at Mighty Bargain Hunter http://www.thesunsfinancialdiary.com/personal-finance/say-goodbye-to-emigrant-direct/#comment-14902 Roundup for week of 16 July 2007: Mojave edition at Mighty Bargain Hunter Sun, 22 Jul 2007 03:48:27 +0000 http://www.thesunsfinancialdiary.com/personal-finance/banking/say-goodbye-to-emigrant-direct/#comment-14902 [...] The Sun’s Financial Diary bids fair winds and following seas to Emigrant Direct. [...] [...] The Sun’s Financial Diary bids fair winds and following seas to Emigrant Direct. [...]

]]> By: Roundup for week of 16 July 2007: Mojave edition at Mighty Bargain Hunter http://www.thesunsfinancialdiary.com/personal-finance/say-goodbye-to-emigrant-direct/#comment-14901 Roundup for week of 16 July 2007: Mojave edition at Mighty Bargain Hunter Sun, 22 Jul 2007 03:48:26 +0000 http://www.thesunsfinancialdiary.com/personal-finance/banking/say-goodbye-to-emigrant-direct/#comment-14901 [...] The Sun’s Financial Diary bids fair winds and following seas to Emigrant Direct. [...] [...] The Sun’s Financial Diary bids fair winds and following seas to Emigrant Direct. [...]

]]> By: Tim http://www.thesunsfinancialdiary.com/personal-finance/say-goodbye-to-emigrant-direct/#comment-14808 Tim Sat, 21 Jul 2007 17:11:44 +0000 http://www.thesunsfinancialdiary.com/personal-finance/banking/say-goodbye-to-emigrant-direct/#comment-14808 Igobanking is $25k per rolling 30 days out of. Igobanking is $25k per rolling 30 days out of.

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