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Rates and Account Review
Last Update: June 19, 2008
WTDirect is the online division of Wilmington Trust FSB, a financial services holding company founded in 1903 and headquartered in Wilmington, Delaware.
The is all that you would expect with an Internet account that ends with the word "Direct." This account features high yields, no fees, no minimum balance requirements, and the ability to link to your other accounts at any financial institution to transfer money in and out electronically.
| | Balance | APY | Interest Rate | $1.00+* | 3.26% | 3.21% | $0 - $9,999 | 0.50% | 0.50% | $10,000+ | 3.26% | 3.21% |
| www.wtdirect.com
800-WTDirect
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*For the first 60 days from the date the account is opened, all balances will earn the highest APY. After the first 60 days, the APY for the account will have two tiers.
Minimum Deposit
$1 | Monthly Fee
None | Minimum Balance
$1 | Compounding
Daily |
The WTDirect Savings Account features high yields, no fees, no minimum balance requirements, and the ability to link to your other accounts at any financial institution to transfer money in and out electronically.
The nice feature about the WTDirect Savings Account is that it does not limit the amount of linked accounts that depositors can have. This has been one of the complaints that people have about E-LOAN'S high yield savings acount.
The WTDirect Savings Account also features high transfer amounts. This account allows up to $500,000 per month and $200,000 per transaction. That's useful if you are planning on making that down payment on a home.
Unlike the high yields on the other "Direct" accounts, the WTDirect Savings Account is an introductory offer, sort of. Currently, the savings account pays the higher yield on all balances for the first 60 days after the account is open. After the 60 days are up, the yield becomes tiered where balance under $10,000 will earn a lower rate and balances above $10,000 will earn the high rate. Note, that the intro yield is not locked for the 60 day period. If WTDirect lowers the yield during your 60 day intro period, your intro rate will also decrease.
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