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Ally Bank (formerly GMAC Bank) - an internet bank with good rates on money market and CDs

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man, bernanke is hellbent on punishing me for saving money.


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quizzer25 said:OSA down to 1.55% (Bankrate). Time to leave Ally.

Please tell me which is better - costco cap1 int+savings or discover?

D'oh - looks like it might be time for me to finally cough up $10 to join a PTA so I can move my savings to Alliant CU. They seem to have the highest consistent rates.

Message edited by: hudson4351 on 2009-11-02 21:30:59 CST
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No change in rates today, other than the drop in the 9-month no-penalty CD from 1.5% APY to 1.49% APY (very strange)


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A word of warning - don't depend on Ally's website to keep track of how many withdrawals (pushes, transfers out) you've made. I just discovered that they only attributed one (1) to my account, although the history clearly shows I've made 2 transfers out during this month.


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http://kiplinger.com/magazine/archives/2009-best-list-credit-banking.html

Kiplinger's BEST BANK ACCOUNTS


They combine higher yields and convenience. A high-yield savings account at Ally Bank
, formerly GMAC Financial Serv­ices, yields 1.80%—far more than you’d get at most brick-and-mortar banks. And Ally Bank
has no minimum to open an account, no monthly fees and no minimum balance. Plus, this FDIC-insured institution is one of the only online banks to offer penalty-free CDs, which give you the freedom to withdraw your money early without paying a fee.

P.S:


(Sadly Ally has reduced it to 1.55 now!!!)

Message edited by: quizzer25 on 2009-11-10 16:48:13 CST
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ThursdaysChild said:A word of warning - don't depend on Ally's website to keep track of how many withdrawals (pushes, transfers out) you've made. I just discovered that they only attributed one (1) to my account, although the history clearly shows I've made 2 transfers out during this month.

I noticed the same thing. It seems a push out will not tally but a pull from another bank will.


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OSA up a notch today: 1.64% APY.

Thanks Savemeister.

Message edited by: 76hhma on 2009-11-13 07:36:46 CST
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Assume I have Ally linked with A (traditional checking banks like chase or wellsfargo or BOA or Citi) and B (online savings banks like Dollar savings or SFGI or Alliant).

Can i use Ally to pull(transfer) money from A to B?

Is it legal and free?

Message edited by: quizzer25 on 2009-11-14 19:57:50 CST
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quizzer25 said:Can i use Ally to pull(transfer) money from A to B?

Is it legal and free?

Yes. You pull the money from A, wait two business days for the funds to clear, then you can push it to B.


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tvholic said:quizzer25 said:Can i use Ally to pull(transfer) money from A to B?

Is it legal and free?

Yes. You pull the money from A, wait two business days for the funds to clear, then you can push it to B.

You mean i can do it only in 2 steps:

1.Pull money from A
2.Push it to B after say 2 days?


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quizzer25 said:tvholic said:quizzer25 said:Can i use Ally to pull(transfer) money from A to B?

Is it legal and free?

Yes. You pull the money from A, wait two business days for the funds to clear, then you can push it to B.


You mean i can do it only in 2 steps:

1.Pull money from A
2.Push it to B after say 2 days?

You cannot do it in one step, unless you initiate this from Bank A or B directly.


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Thanks for the clarification.


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