Ally Bank Interest Checking and Savings

A place to discuss anything... except credit cards!
14 posts
User avatar
JMR
Platinum Member
Platinum Member
 
Posts: 70
Joined: Sat Feb 08, 2014 6:01 pm
Location: United States

Ally Bank Interest Checking and Savings

Postby JMR » Sun Mar 23, 2014 4:01 pm

I just switched my bank from PNC to Ally. The interest rates were pretty low at PNC and the fees if you went under a certain minimum balance weren't worth it. I found Ally; they have an interest checking account with no minimum balance that gives .25% APY which is higher than the average savings account now. You get unlimited ATM withdraws from any ATM with no fees. Also signed up for the online savings account which is .87% APY which is pretty good compared to others out there. Only drawback is it is all online which some won't like but I don't have an issue with it. Where do you guys bank at and do you like/dislike.

JMR
Citi AAdvantage Platinum Select- $5000 (3/15)
American Express Gold- NPSL (3/15)
Chase Freedom- $1200 (3/15)
Nordstrom- $1500 (9/14)
Discover IT- $1000 (2/14)

TCL: $8700

FICO (TU)- 716 (3/15)


darkguy2
Centurion Member
Centurion Member
 
Posts: 616
Joined: Thu Jan 24, 2013 12:24 am
Location: United States

Postby darkguy2 » Sun Mar 23, 2014 5:23 pm

I use Ally for my savings. I put all of my loan money for my housing and living costs during the year into it as soon as I get it. Then I set it up to send money to my checking once a month to pay for my rent. Helps me stop myself from spending it on things I do not need. Only really makes a dollar or so but it way more than if I kept it in my checking account. When I start backing working again I will being putting a large chunk of my paycheck into it every week.
Discover IT - $5,700
Chase Freedom - $5,700
Costco Citi - $13,000
Sallie Mae - $4,000
Chase Sapphire Preferred - $6,000
Chase Sapphire Reserve - $19,500
Citi Double Cash - $6,500
Amex BCE - $13,000

FICOs: Discover (777), SallieMae (764), Amex (767), Citi (772)
FAKOs: CK- TU (760), EQ (760)

User avatar
otter
Centurion Member
Centurion Member
 
Posts: 639
Joined: Sat Aug 24, 2013 8:45 pm
Location: Grand Forks, ND

Postby otter » Sun Mar 23, 2014 5:37 pm

I try and avoid companies with questionable ethical standards no matter how beneficial it may be in the short term. 'Nuff said...
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

User avatar
Vattené
Centurion Member
Centurion Member
 
Posts: 1176
Joined: Sun Jan 26, 2014 3:55 am
Location: US

Postby Vattené » Mon Mar 24, 2014 12:14 am

I primarily use a local bank that I like. I keep a lot of excess money in a checking account that gets 2%. I have a few savings accounts through them more or less just out of loyalty, but I'm thinking of switching. I'm considering taking them out and opening Discover savings accounts. They are also all online, but that won't bother me as I'll just be moving money in there each month to build it up, plus the .85% is much better than my current .11%.
-Vattené
FICO-8:
EX - 805 (12/16) | TU - 803 (12/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

RewardHop
Centurion Member
Centurion Member
 
Posts: 307
Joined: Wed Jan 02, 2013 3:43 pm
Location: USA

Postby RewardHop » Mon Mar 24, 2014 1:07 am

I use Ally for checking, money market savings, and regular savings. But I keep most of my money that I'm actually saving in my Barclay's Online Savings.

Not that I believe Ally will go belly up but I thought I'd point out it did not do so well on the Federal Reserve's stress test of banks:

Image

http://qz.com/190720/here-are-the-best-and-worst-performers-in-the-feds-latest-stress-test/
[size=60]
Amex BCE: 3% grocery, 2% gas
Bank of America Better Balance Rewards MC: $25/quarter bonus
Barclaycard Rewards Visa Signature: 2% gas, groceries, utilities
Capital One Quicksilver Visa Signature: 1.5% everything
Chase Freedom Visa Signature: 5% rotating
Citi Forward Visa: 5% restaurants/fastfood, movie theaters, amazon.com
Discover It: 5% rotating
SallieMae MC: 5% Groceries, Gas, Amazon
US Bank Cash+ Visa Signature: 5% electronic stores, restaurants
Sock Drawered: Chase Sapphire, Chase Amazon[/size]

dickey1331
Centurion Member
Centurion Member
 
Posts: 229
Joined: Thu Mar 07, 2013 10:59 pm
Location: Houston, TX

Postby dickey1331 » Mon Mar 24, 2014 1:18 am

I bank with USAA but with Ally I have a savings account, IRA and my wifes car. I love them and would reccomend them.
Platinum Delta Skymiles $12,900
Marriott Rewards Premier $12,000
Discover IT $12,000
USAA Cash Rewards $11,000
American Express Blue Cash Preferred $10,000
Chase Sapphire Preferred $6,500
Best Buy $6,000
Chase Freedom $4,500
Zales $4,000
Amazon Prime $4,000

User avatar
JMR
Platinum Member
Platinum Member
 
Posts: 70
Joined: Sat Feb 08, 2014 6:01 pm
Location: United States

Postby JMR » Mon Mar 24, 2014 3:17 pm

Vattené wrote:I primarily use a local bank that I like. I keep a lot of excess money in a checking account that gets 2%.


2% on a checking account? Throw everything in there!
Citi AAdvantage Platinum Select- $5000 (3/15)
American Express Gold- NPSL (3/15)
Chase Freedom- $1200 (3/15)
Nordstrom- $1500 (9/14)
Discover IT- $1000 (2/14)

TCL: $8700

FICO (TU)- 716 (3/15)

darkguy2
Centurion Member
Centurion Member
 
Posts: 616
Joined: Thu Jan 24, 2013 12:24 am
Location: United States

Postby darkguy2 » Mon Mar 24, 2014 4:48 pm

ELFCU has a 4% checking account. You get 4% on your first thousand and then you get 0.15% on anything after that. But you have to do 15 transactions per month on it.
Discover IT - $5,700
Chase Freedom - $5,700
Costco Citi - $13,000
Sallie Mae - $4,000
Chase Sapphire Preferred - $6,000
Chase Sapphire Reserve - $19,500
Citi Double Cash - $6,500
Amex BCE - $13,000

FICOs: Discover (777), SallieMae (764), Amex (767), Citi (772)
FAKOs: CK- TU (760), EQ (760)

samhradh
Centurion Member
Centurion Member
 
Posts: 388
Joined: Thu Nov 21, 2013 1:13 pm
Location: United States

Postby samhradh » Mon Mar 24, 2014 5:06 pm

I have an interest checking account and a trust fund account with them. I had no issues setting up my personal account (set up as a savings account) they screwed up the trust paperwork/deposit and it was very stressful trying to sort it out. Generally speaking, if you don't have need of a bank's services, the interest rates with online banks make using them a no-brainer.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

User avatar
Vattené
Centurion Member
Centurion Member
 
Posts: 1176
Joined: Sun Jan 26, 2014 3:55 am
Location: US

Postby Vattené » Mon Mar 24, 2014 5:23 pm

JMR wrote:2% on a checking account? Throw everything in there!

Oh, I do for the most part. I just have a couple other savings accounts to keep the money separate (and keep from slowly spending everything in this checking account).
-Vattené
FICO-8:
EX - 805 (12/16) | TU - 803 (12/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now



Return to “The Lounge”

Who is online

Users browsing this forum: No registered users and 2 guests