WTDirect just raised the interest rate on its WTDirect savings account to 3.26%.  This is great news for any WTDirect savings account holder or anyone looking to open a high interest savings account.  Since WTDirect decided to increase the savings rate, we thought that we should write a WTDirect savings account review.

Wilmington Trust is a great online bank. They consistently offer high interest rate savings accounts that are among the top 5% of U.S. banks.  However, you need to be aware that WTDirect tiers its interest rates so that the higher your savings account balance the higher the savings rate.  WTDirect does not require large initial deposits, but unless you meet the savings requirements for the higher tier high interest rate savings tier, you will earn a lower rate of interest.We don’t require a large immediate deposit. They give you two months reach this balance while still earning the highest rate.

Wilmington Trust Bank is FDIC insured.  This means that if they run into financial trouble, your savings will be protected up to $100,000.  Having FDIC insurance for you high interest savings accounts is an absolute must.  If you are going to earn a lower rate of interest, you might as well get the security of FDIC insurance.

The WTDirect savings account allows you to transfer up to $500,000 per month, $500,000 per transaction in, and $200,000 per transaction out.  This high transfers allowance allows you to use your WTDirect savings account to make large purchases, such as a home.  You are also allowed to make unlimited deposits and up to 6 withdrawals per month.

When you are looking to open high interest savings accounts, you also need to make sure that the online bank charges low fees or no fees.  Since WTDirect has no minimum balance you don’t need to worry about these fees.  They also boast that they have no hidden fees.

As you can see, the WTDirect savings account is a good high interest savings account.  Now the WT Direct is paying 3.26% you have to consider them one of the best online savings accounts in the United States.