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Emigrant Direct is the online banking branch of Emigrant Bank. Emigrant Bank was found in 1850 and by year end 2005; it had assets worth $ 10.5 billion. Emigrant Direct services can be accessed through their American Dream Savings Account.

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The Annual Percentage Yield (APY) of Emigrant Direct is much higher as compared to other online banks. Unlike the high APY offered by other banks which is only for an introductory period, with Emigrant Direct the APY is for the duration of the account. A high-paying savings account with no fees and minimums is one of the salient features of Emigrant Direct. This means that one can enjoy high yields by having just $ 1 in the account. One can keep an existing checking account and link the Emigrant Direct Savings Account to it. The Emigrant Direct Account can be linked to two accounts. Transfer of money can be done easily by logging onto one's Emigrant Direct Savings Account. Emigrant Direct does not levy any transfer fees.

Where can I get a direct deposit form Sign in to your prepaid account at //my.accountnowvisa.com and click Quick Start to access your personalized Direct Deposit form. How do I find my routing and account numbers Sign in to your prepaid account at //my.accountnowvisa.com and click Quick Start to access your personalized direct deposit form. Your routing and account numbers are on the form.

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With Emigrant Direct, the interest which is compounded daily is credited every month to the user's account. Employers can directly deposit money into their employees' accounts at Emigrant Direct. Automatic deposits from various sources of income are a useful feature of the Emigrant Direct Savings Account. Online access is available 24 x 7 and there are no time restrictions.

Savings remain accessible but when cash is withdrawn, so the amount on which interest is payable will increase. This can mean that effectively savings can earn significantly higher rates of interest than if left in a traditional savings account. Standard variable interest rates may be a couple of per cent above savings rates. Income tax is also normally payable on savings interest however this does not apply to savings made on the mortgage. For a higher rate taxpayer offsetting savings against a 6% mortgage product is equivalent to earning 10% on savings.

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Account opening is a smooth procedure that requires submitting an application online. Identification is by means of the tax identification number. A personal checking account in a U.S bank and a U.S address are required. The account details are sent to the prospective account holder by post. This also serves to double check the particulars provided by the applicant. Thus, even though signing up for the account is relatively fast; completing the process and activating the account may take a few days.

Mortgages offered by lenders without any proof of previous mortgage history, proof of income. The usual maximum loan to value is around 70%. O Occupational Pension Scheme A pension scheme set up by an employer for its employees. Offset mortgage Offset or all in one mortgages allow you to offset the balance of your mortgage, and any other borrowings you have, or current account that is held with the same lender. All your borrowings and savings may be combined in one account.

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There are no hidden costs attached while banking with Emigrant Direct. There are no bank service charges and one can cancel the account anytime without any penalties. Emigrant Direct accounts are insured by FDIC for a value of up to $ 100,000 for every account holder. This means that married couples who have an individual and joint account with the bank can avail insurance of up to $ 200,000 for their accounts. Account holders also get to enjoy the benefit of Platinum MasterCard which has a cashback of 1.4%. Account holders are not required to pay an annual fee for the card.

Pays your mortgage for a limited period if you can't work or are made redundant. Mortgage valuation A valuation, carried out by your mortgage lender, of the property that you want to buy. N National Savings free savings accounts run by the Government. Negative Equity When your house is worth less than your mortgage because the value of the property has fallen.

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Stanley McMahon recommends you visit OSAWatch for a more in-depth review of the Emigrant Direct savings account.

First Direct is a division of HSBC bank, and is based online. Customers can manage their accounts over the internet and via telephone banking 24 hours a day. It provides credit cards, loans, savings & mortgages. First Direct details

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