How do I know amtrust direct bank is safe to use CD?
I am thinking about this bank for CD, but I dont know much information about them. I dont want to risk my money if I dont know anything about them. Besides them, I think about HSBC, capital bank, bank of america, but they are low interest. Amtrust direct is higher than those banks. But somebody give me more information about amtrust direct please? IS IT SAFE for my money?
- 1 decade agoFavorite Answer
It depends on how much you are planning to deposit. Check for FDIC insurance & if they carry additional deposit insurance above the FDIC limits.Source(s): Former Financial Consultant & Banker
- SmartassLv 41 decade ago
As long as they're a legitimate bank with FDIC, there's nothing to worry about.
In fact, how much do you save in CD anyway? the differences in one interest to another is less than pennies on the dollar, you're better off saving it up yourself!