Frequently Asked Questions 

 


Is AmTrustDirect.com Member FDIC insured?
Yes, to the maximum allowed by law. The best way to get an accurate picture of your amount of insurance for all of your accounts with AmTrust is to visit www.fdic.gov and use their online calculator. This tool takes into account your specific account information with AmTrustDirect.
 
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How do I apply for an AmTrustDirect.com account?
Applying for an AmTrustDirect.com CD account is quick, easy and convenient. The only requirements are a valid tax identification number, United States driver's license, United States postal address and a personal checking or savings account at a U.S. bank. In a few easy steps, you can apply for your account online. You do not need any special software or hardware. If you have questions, please call our Customer Contact Center at (888) 228-8146.
 
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What documents/information will I need to apply for an AmTrust Direct account?
You will need the documents and information listed below before you start the application:
  • Social Security Number
  • Valid Driver's License, State-Issued Identification or U.S. Passport
  • Email address
  • Co-Applicant information, if applicable
  • Beneficiary information, if applicable (name and date of birth)
  • If you decide to have the interest automatically transferred to an existing AmTrust Checking or Savings account, be prepared to provide the applicable account information (account number and account type).
  • To fund your account by electronic transfer from another account, you will need to provide the 9-digit bank routing number and the account number listed on your checks or deposit slips

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Where is the routing number on my check?

The sample check below shows where routing numbers can be found on your checks.


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Are there any eligibility requirements to open an AmTrust Direct account?
Yes, the following eligibility requirements apply when opening and AmTrust Direct account:
  • You must be at least 18 years of age to apply.
  • All applications are subject to a review of past account handling and verification of the information provided.
  • AmTrust Direct verifies identification and submits new account applications to a Credit Bureau background check. By applying for a new account, each account applicant consents to AmTrust Direct obtaining a credit report and verifying his or her background information. AmTrust Direct reserves the right to not open an account that has inconsistencies found in the information provided on the account application, from the background check, or if substantial derogatory information exists in a credit investigation.
  • AmTrust Direct must be able to successfully process your initial deposit. You will be notified by mail if your account request cannot be processed.

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Are there any limitations to the types of accounts I can open at AmTrust Direct?
The following account types cannot be opened online: business accounts, accounts opened by power of attorney, accounts in the name of a trust or trustee, and accounts under the Uniform Gifts to Minors Act or similar statutes.

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Does AmTrustDirect.com offer IRA accounts?
AmTrustDirect.com does not offer IRA CDs.

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Can I fund my CD account with a check?
Absolutely. There is an option available in the online application process to make your initial deposit by mailing in a check. If you select this option, you will be provided with a form at the end of the application process for you to print and mail with your check. You will also receive instructions as to where to mail the check and form, and how the check should be written. Note: If you choose to mail us a check as the funds to open your CD, the opening could be delayed up to 10 business days or more due to mailing and check processing delays beyond our control.

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Are the CDs on AmTrustDirect.com fixed rate CDs?
Yes, the CD will earn interest at the APY (Annual Percentage Yield) disclosed at the time of application, and the rate will remain constant over the entire CD term.

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Can I open an account with a beneficiary?
Yes. Certificate of Deposit accounts, either individual or joint, can be opened online with up to two beneficiaries. You will have the opportunity to name a beneficiary during the online application process.

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How do I know when my new account is opened?
Opening a CD account on AmTrustDirect.com is simple:
  1. Complete the online application, where you will select an initial funding option. You can have the funds withdrawn from a checking or savings account with another bank as an Automated Clearing House ("ACH") transaction, which is electronic. You also have the option to send us a check for the opening deposit. We process ACH transactions faster, because information is shared electronically, without waiting for the paper check to go through the mail. Using ACH means you will begin to earn interest faster.
  2. Once the CD is open, we will send you a confirmation letter with your account number via U.S. mail. Allow 5 to 7 days for the letter to arrive.

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How do you keep my information and account secure?
We take your security and privacy very seriously and always go the extra step to protect your information and your money. We utilize the industry-standard technology and procedures to ensure the safeguarding of information submitted via AmTrustDirect.com. For complete details, review our Security Statement.

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How do I login to view my account?
To login and view your account information, you'll need the user ID and temporary password we sent you via e-mail when you opened your account. Never provide this personal information to anyone. You can go to www.AmTrustDirect.com and login from the homepage. After your initial login, you will be prompted to change your temporary password. If you do not know the initial login or do not remember your user ID or password you can call our Customer Contact Center at (888) 228-8146.

If you opened a joint account, both you and the joint account holder will have your own unique user ID and password. Although you share an account with only one account number, you will still each have your own login information.


 
What browers and versions are supported for Online Banking?
AmTrust Bank's Online Banking website supports the following browsers and versions:
 
Windows:  Firefox 3.4 and higher and Internet Explorer 7.0 and higher
 
Macintosh:  Safari 4.0 and higher 
 
Is there a penalty for early CD withdrawal?
There will be a penalty imposed if you withdraw any of the principal before the maturity date. The fee imposed will vary, depending on the term of your certificate, as follows:
 
  • 1 month up to including 5 month term - 30 days' simple interest on the amount withdrawn.
  • 6 month up to and including 11 month term - 90 days' simple interest on the amount withdrawn.
  • 12 month up to including 35 month term - 180 days' daily compound interest on the amount withdrawn.
  • 36 months or more - 365 days' daily compound interest on the amount withdrawn. 

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How is interest accrued on an AmTrustDirect.com CD?

Interest Compounding/Payment Frequency is as follows:

3 month to 11 month term: simple interest / credited quarterly

12 month term or more: compounds daily / credited monthly

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How often will I receive statements for my CD account?
You will not receive a statement. If you chose to have the interest accrue to the CD, information for the CD will be provided when we mail a pre-renewal notice approximately 30 days prior to the CD maturity date. You may obtain CD information over the phone by calling our Customer Contact Center at (888) 228-8146.

Whenever you like, you can view your CD information online at www.AmTrustDirect.com. Just login directly from our homepage to view your account. If you forget your user ID or password, call our Customer Contact Center at (888) 228-8146.

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Will AmTrust Direct remind me of the maturity date on my CD?
Yes, we will send you a notice approximately 30 days prior to maturity, including information on how to renew. To renew your CD, you can visit us online at www.AmTrustDirect.com. Click on the Renew Your CD button on our homepage and follow the instructions.

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Can I add money to my CD once it has been opened?
No, you may not add money to your CD prior to the maturity date once it is opened.  You may add money or change the term or rate of your CD account for up to seven (7) days after maturity without penalty. We mail a CD pre-renewal notice to you with instructions for renewal, about 30 days before your CD maturity date. If you do not take action by the last day of the grace period, your CD will automatically renew, at the standard rate that applies to the term of your CD.

When renewing your CD online, your new CD will renew with the same interest disbursement frequency and method as your expiring CD. Any addition to or withdrawal from a CD must be done by submitting a written request postmarked by the last day of the grace period, that includes your name, account number, current term, amount of the CD, and your instructions for either re-investing full or partial funds to: AmTrust Direct, PO Box 233, Westbury, New York 11590. For additions to your CD account, please enclose a check made payable to AmTrust Direct in the amount you would like added to your account. You may not see the additional funds reflected online in the CD balance for up to 10 business days, due to mailing delays that are beyond our control. However, the interest earned on the CD will assume the additional funds were deposited on the first day of the new term for the renewed CD, so there will be no loss of earned interest if additional funds are mailed to us.

Online renewals made on a non-business day or after 8:00 p.m. Eastern Time on a business day, Saturday, Sunday or Federal holiday will be effective on the next business day. If a grace period ends on a Saturday, Sunday or holiday, renewals, deposits or withdrawals must be made on or by the business day immediately preceding the end of the grace period. Our business days are Monday through Friday, excluding holidays.

How do I close my AmTrust Direct CD?
To close your AmTrust Direct CD, please login to online banking, click the messages link and send us a secured message with the account number and instructions on how to send the funds such as to mail check or deposit into another AmTrust account.

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How do I make deposits to and withdrawals from my Earn>More Money Market, My Community e-Money Market or My Community e-Savings Account?

After making your initial deposit by electronic transfer or check, you can link your Money Market or Savings account with up to three accounts that you hold at other institutions. Once a link is set up, you simply login to your account at AmTrustDirect.com where you can easily transfer money between your AmTrust Direct account and your linked accounts at other financial institutions.

What is a linked external account?
A linked external account is an account that you hold at another financial institution and that you designate for online fund transfers into and out of your Earn>More Money Market, My Community e-Money Market or My Community e-Savings account. You are permitted to link up to three accounts to those accounts.

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How do I access the External Transfer service?

Our external transfer functionality makes it simple to link your Earn>More Money Market, My Community e-Money Market or My Community e-Savings account to accounts you own at other banks and easily transfer money into your AmTrust Direct account to take advantage of our great rates.
1. Login from the AmTrustDirect.com home page.
2. Enter your user ID and password to login to online banking.
3. Click on the Transfers tab and select your account from the dropdown list.
4. Click on e-Transfers. 
 
 
How do I add or delete a linked external account?
Once you've reached the External Transfer section (see "How do I access the External Account function" above) you can easily add or delete a linked external account.

To add a new external account, click on the "add external account" button and follow the simple steps.

External accounts can be easily removed by clicking the "Remove" button in the next to the account that you want to remove.
 
 
To set up linked accounts from other financial institutions, you will need to provide a routing number to AmTrust Direct. Routing numbers expedite the processing of debits and credits between financial institutions.
The sample check below shows where routing numbers can be found on your checks.

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What is the routing number for AmTrust Direct?
AmTrust Direct's routing number is 241070433.

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How long does it take for money I transfer from my Earn>More Money Market or My Community e-Money Market or My Community e-Savings account to appear in my linked external account?
You can expect money you transfer from your Money Market or Savings account to appear in your external account within two business days. However, the exact timing will depend upon the processes of the other institution.

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How long does it take for my confirmation deposits to show up in my external account?
Confirmation deposits should show up in your external account within two to four business days.

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What is the latest time I can schedule a transfer to occur the next day?
If we receive your transfer request by 3:00 p.m. Eastern Time, your transaction will be processed the same business day. If we receive your transfer request after 3:00 p.m. Eastern Time, it will be processed the next business day after you submitted the request.

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Can I link more than one external account?
Yes, you may link up to three external accounts to your qualified accounts.

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How often will I receive a statement?
You will receive a monthly statement for the Earn>More Money Market, My Community e-Money Market or My Community e-Savings account when there is activity on the account within the month. Otherwise, you will receive a statement quarterly.

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Are there limits on the number of withdrawals or deposits that I can make?
There is no limit on the number of deposits you can make each month. However federal regulations require us to limit the number of withdrawals and transfers from the Earn>More Money Market, Premium e-Money Market or My Community e-Savings account to six per monthly statement cycle.

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What if I get a pop-up blocker message when trying to enter the external transfer service?
Your internet browser's pop-up blocker may be preventing you from accessing our external transfer screens. Please change your pop-up blocker to allow access to these screens so that you can take advantage of this service.

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How do I set up my AmTrust Direct Earn>More Money Market or My Community e-Money Market account as a linked account with another financial institution from their site (example: linking your Premium e-Money Market from your Bank of America account)? 
When linking your AmTrust Direct Earn>More Money Market or My Community e-Money Market account to an account at another financial institution, you will need to set-up your Money Market as a "checking" account. Otherwise, any transactions to or from your AmTrust Direct Money Market account will not be processed.

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How do I make transfers with EmigrantDirect Savings Account?
Emigrant Direct does not permit third party transfer requests.  Therefore after linking your qualified Amtrust Direct account and your Emigrant Direct account, you must make transfer requests via Emigrant Direct's website.

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*Rates contained in online account opening demonstration are for example purposes only.

Copyright 2014. AmTrust Direct, a service of New York Community Bank. All rights reserved.