bank rates

6% CD Rates – Amtrust Direct 5.00% APY 6 Month CD Rate

Amtrust Direct Bank currently has a 5.00% APY 6 Month CD Rate. There is a $1,000 minimum deposit to open. Amtrust Direct is a popular bank, with many customer reviews on our money market and bank CD rate interest tables.

History of Amtrust Direct
Founding during the late 1880s, Amtrust Direct had its beginnings in the year 1889. Heralded as one of the innovative leaders among today’s financial service companies, Amtrust Direct has simple beginnings as a single institution on Cleveland Ohio. At one time known as a single physical branch called Ohio Savings Bank; today Amtrust Direct has expanded due to acquisitions, mergers and the success of its business. In fact, today, Amtrust Direct has more than 15 billion dollars in assets – a tribute to the company’s solid growth and unsurpassable work ethic.

Amtrust Direct is the recipient of a long list of awards, all honoring the business ethics that the company stands by. Honored as a solid presence in the community as well as in the financial industry. Available through Amtrust consumers will find superlative financial offerings. The full services that Amtrust offers include an no fee e money market account, certificates of deposit, free Internet banking services, and more. Amtrust Direct is a member of the Federal Deposit Insurance Corporation and is the sole online division of the Amtrust Bank.

To apply for an account with the Amtrust Direct, applicants will require specific documentation. In addition to one’s social security number, a driver’s license or United States passport, an email address, beneficiary information, as well as other information. Amtrust Direct makes banking possible 24 hours a day, seven days a week via Internet access. In addition, Amtrust delivers relatively high interest rates on interest bearing accounts: passing unique money making opportunities onto its customers.

Comments (21)
1 Star2 Stars3 Stars4 Stars5 Stars (105 votes, average: 3.34 out of 5)
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  1. Doug Bentley said:
    on November 1st at 07:59 pm

    I have nothing but disdain for Amtrust. This is the single most dishonest operation I have encountered in 40 years of investment banking. On two separate occasions, they have refused to terminate a CD that I had with them. On the first occasion, I was told that I sent my letter to close to the deadline and they were unable to respond. They made this claim even though they report having a 7-day grace period for notifications of termination. After they automatically reinvested my CD, of course at several percentage points lower than the initial CD, I was told I could notify them at any time that I did not want my CD to be rolled over. So I sent them a letter 5 months in advance of the termination date of the CD. Tonight I was informed that AmTrust has no record of my letter as I sent it TOO EARLY AND THEY DON’T KEEP LETTERS THIS LONG! I have never dealt with any company that can equal their ineptitude. Stay away from Amtrust!

  2. Rudy said:
    on December 24th at 09:27 am

    I had terrible experience with this bank. First of all they do a HARD PULL of your credit report. I would be OK wit a soft pull, but I am not in the market for debt, so why do a hard pull. For my protection, they say. Anyway, Opened the account 12/11. Received email about it the same day. Requested an ACH with the account opening. 10 days later, no email, nor mail nor ACH from my checking account. I called the bank. They say the account opening is in process. What 10 days later? I said I wanted to log in online and see my account. I was told I will receive my username within the same day. Three days later, nothing comes by email or mail. I call again, now I am told that a work order is being put on my case? What case? Account opening? 13 days and nobody calls me or lets me know. I told them to close the account as I do not trust the bank. They say they cannot do it, only by writing. I am shocked at this experience. I do not recommend. Customer service was friendly but useless. They did not know anything, only referred to internal departments for information. Departments you cannot talk to. FIND A BETTER BANK.
    I am left with a credit report enquiry and no savings account.

  3. Dave Sass said:
    on January 29th at 10:23 am

    I too have had problems with opening an account with AMTrust. They transfered my money to my account but it has been a week and I still don’t have access to my account. They keep telling me they are e-mailing me the account number but it never comes. They also tell me they have sent my account number in the mail but it never arrives.

    I distrust this bank and will be closing the account as soon as they give me access to my account. I’m also writing a formal complaint to the Office of Thrift Supervision.

  4. washington said:
    on June 8th at 08:22 pm

    Why is this ten year old post still online??

  5. Lora Chau said:
    on October 13th at 09:39 pm

    they’re scam… that’s why.

  6. Christopher S said:
    on April 24th at 02:17 pm

    @Washington. Because the internet does not require content be erased within any time limits. As long as its still on a server being maintained I’ve come across 20-30 year old sites. I’m not sure what you are actually trying to argue about if this were a logical debate. Its like if I asked why some tables are round. Not only is it a question that isn’t very meaningful but anyone I’m asking also has no idea what it is I am really trying to say. Am I against any round tables, do I just have a genuine curiosity, do I propose some sort of rule concerning table shapes and sizes, or any number of debate points. I also don’t present any logical reason for asking the question.

  7. Nicholas Di Bona said:
    on May 3rd at 04:13 pm

    I wanted and was prepared to invest with you org. But the terrible comments convinced me otherwise. Unfortunate.

  8. John Roberts said:
    on August 19th at 12:35 pm

    Thanks to all of you , who took the time to express your distane from your banking experiences with Amtrust Direct. I was attracted by the high yield offerings, however, I will not deposit one red cent with any bank that inconveniences me for one moment.

    Thanks again,
    John

  9. Kate said:
    on October 3rd at 06:56 pm

    Oh my!!! I was prepared to open a CD with you, but these comments scared me away…. did you ever hear of customer service? Management better get busy and providing some excellent service.

    CD have grace periods…. give that guy his money!!

  10. Les S. said:
    on December 1st at 11:21 am

    Amtrust sounds like a miserable, incompetent or worse institution. They will not get my very large funds for a CD.

  11. Lou Ferere said:
    on December 22nd at 12:04 pm

    Thanks for all the honest reviews. I was very skeptical of the high interest
    rates they were giving. If something sounds too good to be true than it’s probably a scam. Why are they allowed to be in business?

  12. Mathew P said:
    on December 27th at 11:58 am

    I was about to invest 100K in AM trust, but these comments just threw me off

  13. Linda Duran said:
    on January 5th at 06:55 pm

    I was also interested in investing my savings into the promise of a higher interest rate with this company. Thanks to the comments, I will not invest. I’m just wondering if any of you people know of a better way to check out these online companies and if they are legit or not?

  14. gerry c said:
    on January 14th at 08:57 am

    I’ve read all comments on this page and I would say, sounds like AmTrust may have some issues with their direct online banking which I’ve never used.

    On the other hand, I’ve been banking with AmTrust brick and mortar banks for 18 years now. I have never run into any issues with them and find they are very good at what they do and continue to be very completive with all their rates.

    Don’t let the comments here stop you from trying one of their locations for all your banking needs, I think you would be pleased!

  15. gerry c said:
    on January 14th at 08:58 am

    gerry c said:
    on January 14th at 08:57 am

    I’ve read all comments on this page and I would say, sounds like AmTrust may have some issues with their direct online banking which I’ve never used.

    On the other hand, I’ve been banking with AmTrust brick and mortar banks for 18 years now. I have never run into any issues with them and find they are very good at what they do and continue to be very completive with all their rates.

    Don’t let the comments here stop you from trying one of their locations for all your banking needs, I think you would be pleased!

  16. LJL said:
    on January 17th at 07:14 pm

    Thank you for the post they save me. I was about to invest with that bank because of the attractive rates, but I realize that they are a scam, I am staying away. Thanks for protecting us.

  17. MP jr said:
    on February 25th at 07:35 am

    Thank you for all your post. I am staying away from this bank.

  18. Alice T said:
    on March 6th at 09:01 am

    Thank you for all the postings. I DEFINITELY will NOT be sending this bank any money. Sounds like a scam. Thanks for sparing me the headache!!

  19. David Soemo said:
    on April 6th at 02:01 pm

    GladI read the reviews, They all said the same so has to be true Thanks

  20. Elle Jenna said:
    on June 5th at 07:41 pm

    Oof! Was going to invest $50,000 but these reviews deterred me!

  21. Claude Davy said:
    on October 4th at 08:16 am

    LOL Just because they put the word trust in their name does not mean you should trust them??? For their system to work, they would have to hold 10 CDs long term to pay out the others and invest at 10-20% high risk loans to make a profit. Which 6 out of 10 of those investments go south! They meant well but its a gamble. I suggest Investing your money either in a good stock company! like Lockheed Martin, Fed ex or any that pays a good divided at the end of the quarter or Navy Federal Credit Union! or Even your own local CU! You’ll be safer and happier.