Wilmington Trust is currently offering a competitive online only savings account rate at 5.06% APY. This savings account is completely free and has a minimum balanace of $10,000. One of the things WT|Direct doesn’t tell you this on their advertisement is that if your balance falls below $10,000 for longer than 60 business days, your rate will drop from 5.06% APY to 0.60% APY. Wilmington Trust claims to have rate consistently in top 5% of U.S. banks, but if you do not meet their minimum balance requirement within 2 months, you will probably find their rate is at the bottom 5%. Furthermore, WT|Direct allows 6 free transfers a month with unlimited externally linked accounts. The account transfers usually take between three to five business days with daily compounding interest.

WT|Direct is a member of the FDIC and they pride themselfs with great customer service. A phone call to WT|Direct will lead you directly to a real person. WT|Direct also offers a $0 liability guarantee for unauthorized transactions on your account over the internet. Overall, Wilmington Trust is a very secure and well established bank as Bankrate.com gives it 4 out of 5 stars. For any further questions, call 1-800-WTDirect (or 800-983-4732) or email ClientCare@wtdirect.com.