With an APY of 1.5% and no minimum balance required to open an account, I set out to learn more about Dollar Savings Direct. After a bit of online sleuthing, I opted to NOT open an account and recommend that others do the same. It turns out that Dollar Savings is a part of Emigrant Bank who is known for some practices that are less than optimal. They have been known to pull a bait and switch with their rates and the last time I checked the account that previously advertised a rate of 1.5% is now paying 1.0%. Stay away.