Emigrant Savings Bank is based out of New York, but through the internet, and its affiliate banks, you can be a customer of Emigrant Savings Bank even if you don’t live anywhere near New York.

Emigrant Savings Bank

The first branch of Emigrant Bank was founded in 1850 by Irish emigrants as a mutual savings bank.  Since the 1920s, Emigrant Savings Bank has grown to be the largest savings bank in the nation.  Between Emigrant Savings Bank, Emigrant Direct and other Emigrant subsidiaries, they have $15.4 billion in assets and $1.2 billion in total equity.  Emigrant Banking offers savings accounts, checking accounts, CDs, online banking and different types of loans.

Checking Accounts

Emigrant Savings Bank offers three different checking accounts; Regular Checking, NOW Checking and Basic Checking.  The regular and NOW checking accounts are very similar in that each one requires a minimum balance of $2,500.  If you choose the regular checking account, that minimum balance can be combined with other accounts including savings, IRAs, CDs and money market accounts.  NOW checking and regular checking don’t have a monthly fee or per-check charges as long as you keep the minimum account balance.  The NOW account offers all the benefits of the regular checking, with the benefit of earning interest on your money.  The basic checking account is for those who only write a few checks a month.  There is a small monthly fee, no minimum balance and it only takes $25 to open an account.

Savings Accounts

There are a variety of different savings accounts, including money market accounts and vacation and holiday savings accounts.  Emigrant Savings Bank offers the benefit of combining savings accounts with checking accounts to forgo the monthly fee and the check writing fee that comes with the checking accounts.  Through their regular savings accounts, deposits and withdrawals can be made at any time.  The money market accounts require a $2,500 balance, while offering competitive rates and some check writing abilities.

Other Services

Emigrant Savings Bank is primarily that, a savings bank.  Through other branches of the bank they offer mortgage loans, commercial real estate and business financing.  Emigrant Mortgage Company offers adjusted and fixed rate mortgages, low down payment programs for first time home buyers and programs for the self employed.  They also offer the benefit of automatically paying your mortgage directly from your Emigrant checking or savings account.

Online Banking

Emigrant Savings Bank offers online banking through EmigrantOnline.com.  Through Emigrant Online, you can transfer funds between accounts without going to an ATM or a branch.  You can communicate to a representative through email anytime through a secure site.  Emigrant Online doesn’t have any monthly fees, the only charges that might apply are service rate charges.  This option is safe and secure and offers features which include automatically signing out of your account if are logged on without accessing anything for ten minutes.  Through online banking you can pay bills online and transfer money easily without any hassle.  Enrolling is easy and can be done online at EmigrantOnline.com. 

Summary of Emigrant Savings Bank

Emigrant Savings Bank has been around for over 150 years.  They  have proven to withstand the times and have advanced in their banking right along with technology.  They offer competitive accounts, online banking and phone access, which offers convenient banking anytime.   Through phone access you can check your accounts, transfer funds, pay your mortgage or find a branch or ATM.  They offer many different accounts to choose from when deciding which account to keep your money in.  Emigrant Savings Bank is an FDIC Insured bank and works to keep their websites safe and secure to protect you and your money.

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