WTDirect is a division of Wilmington Trust FSB, which was established in 1903. WTDirect was launched in 2006 to function as the online version of its brick-and-mortar counterpart. As a unit, the financial services holding company services over 80 countries.
Company Headquarters:
Wilmington Trust Corporate Office
1100 North Market Street
Wilmington, DE 19890
Website: www.wtdirect.com
Customer service: 1-800-WTDirect (1-800-983-4732)
Types of Accounts Available
Currently, WTDirect only offers one type of bank account, which is the savings account.
Savings Account
The WTDirect Personal Savings Account is the bank’s only current account for making deposits. Here are some requirements and features of the account:
- $0 to open
- No minimum deposit to open the account
- Unlimited number of transfer links to other bank accounts
- Next-day transfers for qualified clients
- Ability to initiate transfers from another bank
- High transfer limits
- Free mobile banking
- $0 Liability Guarantee for unauthorized transactions on the accounts
- No stock market risk or long-term commitments of less liquid accounts
- FDIC insured (up to $250,000 per depositor)
- Online banking platform to use
Customers can earn a higher interest rate if they maintain a balance of $10,000 or more.
WTDirect advertises that this was one of the first high-yield online savings accounts available. Currently, the bank does not offer checking, CD or money market account options.
How to Open Account
In order to open a WT Personal Savings Account with the bank, you will need to select the “Open Now” option via the website. Then you will need to ensure you’re prepared to provide the following:
- Valid driver’s license or state-issued ID number
- Social Security number or tax ID number
- Mortgage or loan information to verify identity
In order to fund the account, you will need:
- Account type (checking or savings) from your current banking establishment
- Routing/transit number
- Account number
FDIC Insurance and Coverage
Wilmington Trust FSB is a member of the FDIC. This means that all deposits held with both Wilmington Trust FSB and WTDirect are automatically insured to the maximum amount allowed, which is currently $250,000 per depositor.
Customer Service
WTDirect offers a number of customer service options. Customers can email the company to receive an email response within 5 business hours. In addition, customers can call the bank’s customer service line for assistance.
The bank also offers an option called “We’ll Call You,” which allows you to leave your telephone number on its website to have a representative return your message. And if you want to send traditional correspondence, you can always write a letter and send it to the bank’s P.O. Box.
Security
The bank uses 128-bit encryption for online services. Data is transferred via a secure session established with Secure Sockets Layer (SSL) technology. In addition, WTDirect offers password protection by requiring online customers to create a unique user ID and password. The bank also requests that customers take their own precautions to protect their personal data by not sharing ID information and regularly logging off after an online session.
While the bank does not offer additional banking services, it does provide resources like online calculators, tips from experts about tax planning, trusts, retirement planning and investing, and forms that allow you to set up automatic deposits or even close an account with another bank.
