Comments on: Dollar Savings Direct Is An Emigrant Direct Clone

By: paula

paula — Fri, 19 Feb 2010 22:40:41 +0000

cant help noticing that the reviews for Dollar savings direct are a little outdated. I am also with Emigrants and the interest rate is sinking What is todays view of Dollar direct.? Really need to move my money Thanks

By: Teresa

Teresa — Mon, 19 Oct 2009 04:41:39 +0000

Can anyone please advise me how to get to the old Emigrant Direct that will recognize my ID?

By: alvin cohorn

alvin cohorn — Wed, 28 Jan 2009 00:33:54 +0000

the bank can require 60 days WRITTEN notice before any withdrawal of any amount..read their disclosures.

By: New Yorker

New Yorker — Fri, 23 Jan 2009 20:30:25 +0000

Perhaps because there are no maximums to disclose…

By: alvin cohorn

alvin cohorn — Thu, 22 Jan 2009 00:36:15 +0000

dsd does not divulge external in-out maximums on their site –daily-monthly. this can be critical.

By: David

David — Sat, 17 Jan 2009 20:02:40 +0000

Mike or MikeW The dividends would be taxed at 15% only after you hold that stock for 120 days.

By: James B

James B — Sun, 04 Jan 2009 20:36:38 +0000

Mike Not W says the stock/dividends would be in a 15% cap gains bracket. I think if the stock were sold for a gain it would indeed be in the 15% bracket, but the div received would be taxed at ordinary rates.

By: MIke W

MIke W — Sun, 21 Dec 2008 04:49:46 +0000

And if I took your advice 6 months ago, I would be out a hell of a lot of $$ right now.

This is house DP/ Life savings and is no way to be meant as risky in any way what so ever.

Want best return in ULTRA safe environment.

And country Wide is down to 1.9% now.

By: Mike Not W

Mike Not W — Sat, 20 Dec 2008 22:05:35 +0000

Hi Mike – Completely not understanding your situation, I just can’t help to think that your $100,000 can’t earn a bit more than 4%. There’s that saying “it takes money to earn money,” and sure you’ll get around $330/mo interest. I myself am a rate chaser, but I’ve been trying to push myself to find other alternatives (obviously our country doesn’t value savings right now). Take for example a stable common stock. With a dividend of around 7% and a very low price that may have stabilized, you could very well go up 25% in a year ($2,080/mo.) – at the very least, there are stock dividends that aren’t directly affected by a stock’s value – commonly with a 5-9% APY. Of course, a CD is 99% safe, while a stock could become worthless. But there’s also the tax issue – with the CD, your earnings will be with your income in a 25-35% tax bracket. The stock/dividends would be in a 15% capital gains tax bracket.

By: Mike W

Mike W — Tue, 16 Dec 2008 13:05:00 +0000

Count me in as another who just opened a DSD account and am transferring just under 6 figures from Countrywide who’s interest rate is down to 2.4% now.

By: jim

jim — Wed, 03 Dec 2008 21:32:59 +0000

The CD’s rate is fixed and can’t go down (or up) whereas the savings account rate can change anytime.

By: KingAsa

KingAsa — Wed, 03 Dec 2008 21:26:30 +0000

Take a look at DollarSavingsDirect’s website. Are they now offering a 4.00 APY CD? If so, what sense does that make? I hope they’re not trying to say that all of the accounts opened there are considered CD’s.

By: Joe B

Joe B — Thu, 27 Nov 2008 17:15:23 +0000

Opened this today, plan to move money from the Costco Capital One account, which has a $10,000 minimum to get 3.5%. The Capital One account says 5 day wait on deposits, but it is really about 10 days since they also include their schedule time as well, even if the money moves long before.
The advertising for Dollar Direct seems to be a paid placement on Google. They show up as in the paid advertisement section at the top.
Washington Mutual used to be near the top of online account interest and had an immediate link to my checking account-very convienient. Since being taken over by Chase/Morgan, they have dropped their online rate to 2.25% with no notification. Too bad. I’ll bet they lost a lot of deposits in a very short time, including mine.

By: Jeff

Jeff — Tue, 18 Nov 2008 18:06:38 +0000

How does the Dollar Savings ease of use compare to say ING Direct or FNBO?

By: jim

jim — Fri, 14 Nov 2008 15:55:18 +0000

It takes a bit of time before things get into magazines and newspapers, a blog with one person writing who is not beholden to advertisers can react much faster to the news.

I hope you subscribe and stick around!