Is this a legitimate bank??

Yes, its quite prestigious too and privately owned...if you don't mind I'll just use an exerpt from wikipedia as Im short on time =/

Emigrant Savings Bank was founded in 1850 by 18 members of the Irish Emigrant Society and is the oldest savings bank in New York City. The bank was originally founded to serve the needs of the immigrant community in New York and has grown to be the largest privately owned bank in the country. Emigrant has 36 branches located in the New York metro area and has assets of nearly $12.5 billion. The Emigrant Savings Bank converted from a mutual to a stock savings bank in 1986 following several years of loss in an unfavorable environment. The bank increased its online presence with the introduction of the virtual bank Emigrant Direct in 2005. The current annual percentage yield for Emigrant Direct's American Dream Savings Account is 5.05%.

The Milstien family owns the bank, they are on the Forbes list of the 400 richest American families.

Yes, it's a legitimate bank, but it's strictly an on-line bank outside the New York area. Generally, on-line banks are able to offer much better rates of return than traditional brick-and-mortar banks that have the cost of maintaining physical branches.

Use an independent site like bankrate.com to compare rates - you'll find that on-line banks like emigrantdirect and ING are by far the best. I've had ING accounts for years, which yield only slightly less - and never had a single problem. Emigrant's on-line division has been around for years now, too. I recommend giving them a try - if you're worried, the CD's are FDIC insured. Good luck to you.

Any website can look legitimate. I would not be opening an account with them and look for a brick and mortar bank instead. Most "real" banks offer online services these days and it pays to shop around. Credit Unions are always a good bet with higher rates for savings, better loan terms, and checking accounts to boot.

I would shop around first and ask a lot of questions.

Yes, it is a legitimate bank that typically pays good rates on savings.

They are often mentioned on the Clark Howard Radio Show. He does not do endorsements and researches things very thoroughly before discussing.

I would be very careful and use a bank with a name we all know like Chase or Bank of America

nope, the give away that it's fake is where it says since 1850, there would be no need for an emigrant bank in 1850

Check with the better business bureau. If the banks name is not on there I would say this emigrant is not legit.

Go to Expedia and buy a ticket to New York (It will cost you less than $200.00 USD) and see for yourself.