6 Comments

  1. I see ads for Ally bank everywhere but I haven’t jumped on board because I’ve learned my lesson on those variable rates. As you’ve mentioned before they stay high for a short period of time and then they move them down once they get enough customers/cash on hand.

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  2. We have used Ally both for checking and saving for two years now and we have been very happy. I don’t move my money around playing the interest rate game so I’m happy that their rates are high but not necessarily always the highest. We have had nothing but excellent experience with their customer service, unlike our old brick-and-mortar bank. And I think the only transfers that take excessively long were perhaps the ones to open the account. I have no issues with transfers after that point – they seemed to take about as long as ING did and certainly longer than with our old brick-and-mortar bank.

    All-in-all I love internet banks and Ally has been just fine! We use the many savings accounts model and it does work nicely with Mint.

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    • Good to know that Emily and sharing first hand experience does enhance the standard the review altogether. Thanks for sharing.

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  3. Good call on the Ally bank rating, SB. With their mortgage arm teetering on bankruptcy that’s a little too close to the bomb for me, regardless of rate. I know they’re FDIC insured, but I don’t want to have my money frozen while the insurance is sorted out if there is some fallout…..

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    • Thanks Joe, you are very true, even with FDIC insurance it would take months to recover your money if Ally fail like their parents (GM) did three years ago.

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  4. […] like you. But if you are a rate chaser, like me, you may fund better rates else where. We reviewed Ally, TIAA Direct and EverBank which pays better than […]

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