Effective July 28th, Emigrant Direct Raising Savings Account Interest Rate

Just received a piece of mail from Emigrant Direct. Inside, it states that from this Friday through Monday their website will be down for upgrades.

It provides a 10 digit access code. I suspect, this is to allow you to access the website once it gets redesigned. Many people have their computer memorize their logins so providing this helps those of us who do.

On the 28th of July, Emigrant Direct will raise their savings account interest rate to 5.15%. This would move Emigrant Direct into the #2 spot on bankrate.com's listings (behind OneUnited Bank's 5.25% account).

Please note that Bankrate.com gives Emigrant Direct a 2 star financial rating. Think twice before entrusting Emigrant Direct with huge sums of money.

We'll continue to keep a small amount with them b/c of their competitive rate. However, we'll take our money out if any additional rumblings of bad credit ratings arise.