Since I’m a follower and try to emulate people that are doing good things, I opened an Emigrantdirect account. I funded it with $5000 that I had sitting in my savings account at my credit union. The day after I started the process I read a post that said I may want to consider funding it with just a little bit of money until I’m sure that the account is open and everything’s okay. Well, I can tell you that gave me a bit of stress since I had just signed up to move $5k over. They did their fancy little test deposit (and withdrawal) and I then logged on to confirm that I saw the deposits. After that I just waited. I finally received a letter in the snail mail yesterday with my account information. I’m still not sure why I had to use one login to sign up, and then a completely different one to actually use the online account.
One other thing that I’m not too impressed with is the redirection that happens through the sign up process. I found myself checking and rechecking that I trusted the site I was at. Rather than keep me on the emigrantdirect.com domain, it shifted me to another online banking service that I’m guessing they contract with. In this day and age of “phishing”, it didn’t make me feel warm and fuzzy all over.
But, after all of that (which really wasn’t very painful), I’m up and running. The day the money moved from my credit union account to Emigrant is the day that I started accruing interest. So, we’ll see how it goes this month, and then I may move another $5k over.
Or, what I meant to say was, “We’d love to have you join us!”