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Thread: Ally Bank

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    Ally Bank

    Does anyone here use Ally bank? I am looking for a savings account that has a higher interest than my current one (US bank at 0.2%) and noticed that Ally bank has a much better rate than what I am getting now. I just have a concern over internet banking.

    What I want to do is keep my Us Bank's checking account and have a savings account through Ally (or another bank if suggested). I want to make sure that I can transfer funds from one bank to another easily and with out a fee. I was unable to find this answer on Ally's website. The reason why I want to keep my checking account is because I like going to a brick and motor business to withdraw funds/cash or doing other transactions without using mail. Any help wold be appreciated.



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    Re: Ally Bank

    I use E-trade for a savings account, I like it.



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    Re: Ally Bank

    I do something similar with ING, and I'm very happy with it. Can't speak for Ally specifically.



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    Re: Ally Bank

    I use to use ING, but I know go through Page county State Bank in Clarinda. They give 3.2% for your checking account up 25,000. You have to have 10 debit transactions and I believe at least one eft a month to qualify for that rate. It's a sweet deal.

    Page County State Bank



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    Re: Ally Bank

    Quote Originally Posted by SCNCY View Post
    Does anyone here use Ally bank? I am looking for a savings account that has a higher interest than my current one (US bank at 0.2%) and noticed that Ally bank has a much better rate than what I am getting now. I just have a concern over internet banking.

    What I want to do is keep my Us Bank's checking account and have a savings account through Ally (or another bank if suggested). I want to make sure that I can transfer funds from one bank to another easily and with out a fee. I was unable to find this answer on Ally's website. The reason why I want to keep my checking account is because I like going to a brick and motor business to withdraw funds/cash or doing other transactions without using mail. Any help wold be appreciated.
    I do the same thing, except my savings account is through American Express. I get 1.35% interest and I have automatic deposits set up from my checking account after every paycheck. American Express was always very straight forward. No minimum balances or anything. I would always get confused by Ally's requirements and decided against them for that reason, even though they claimed a higher interest rate.



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    Re: Ally Bank

    Quote Originally Posted by Dopey View Post
    I do the same thing, except my savings account is through American Express. I get 1.35% interest and I have automatic deposits set up from my checking account after every paycheck. American Express was always very straight forward. No minimum balances or anything. I would always get confused by Ally's requirements and decided against them for that reason, even though they claimed a higher interest rate.
    Currently ally is saying no minimum requirements are any of that other stuff.

    Any way, it sounds like many of these online account allow you to transfer money in and out to other banks with out any problems. Is that correct?



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    Re: Ally Bank

    It may not matter to you but Ally is just a renamed GMAC.



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    Re: Ally Bank

    I was using HSBC online savings. ACH transfer between accounts will be free with any of these accounts, but it does take 2-3 business days. First National Bank of Omaha is another good one for online savings.



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    Re: Ally Bank

    Quote Originally Posted by dmclone View Post
    It may not matter to you but Ally is just a renamed GMAC.
    I'm just looking for something that has a high interest rate and a low minimum account balance.



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    Re: Ally Bank

    Quote Originally Posted by SCNCY View Post
    Currently ally is saying no minimum requirements are any of that other stuff.

    Any way, it sounds like many of these online account allow you to transfer money in and out to other banks with out any problems. Is that correct?
    Yes, but don't expect it to be instant. Also, I believe the only way to deposit money is to mail a check. That's why I just deposit the money into my checking and transfer over if needed. I also think you're only allowed 6 withdraws per month, but I think that's some federal rule regardless of which bank you use.



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    Re: Ally Bank

    Quote Originally Posted by Dopey View Post
    Yes, but don't expect it to be instant. Also, I believe the only way to deposit money is to mail a check. That's why I just deposit the money into my checking and transfer over if needed. I also think you're only allowed 6 withdraws per month, but I think that's some federal rule regardless of which bank you use.
    That is my plan. I want to keep my US Savings account, but find another bank for a savings account. I just want to make sure I don't have any hassles in transferring money between two different bank accounts.



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    Re: Ally Bank

    I have a pretty similar setup: i use wells fargo to cash/deposit checks, ally for savings, and charles schwab for checking (for no atm fees, although i believe ally's checking does this now as well).

    it doesn't cost anything to transfer between the accounts



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    Re: Ally Bank

    Quote Originally Posted by Dopey View Post
    Yes, but don't expect it to be instant. Also, I believe the only way to deposit money is to mail a check. That's why I just deposit the money into my checking and transfer over if needed. I also think you're only allowed 6 withdraws per month, but I think that's some federal rule regardless of which bank you use.
    Ya I think E-trade is 2 days if you want to pull it out into your bank account? I can't remember haven't pulled anything out in 2 years or so. But I can transfer anything online.



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    Re: Ally Bank

    Ok thanks for the input regarding online bank accounts. Would any one like to give me suggestions on savings/money market accounts and why they like them?



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    Re: Ally Bank

    I use ING, but they only pay 1%. I hate to see money just sitting there losing value to inflation. I need to find a financial adviser who understands me and what I am trying to do. This has been elusive up to this point, they all seem to want me to invest my savings into whole life insurance and not secure investments so I can live if I am ever out of a job.


    They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Benjamin Franklin 1775

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