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Ally Bank Changing Rates for Online Savings and other accounts

scsiguru 1,739 148 October 7, 2015 at 02:18 PM in Other
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Just rec'd a notice that effective 11/7/15:

"Online Savings, Money Market and IRA Online Savings

Your interest rate is variable and determined by your account's end-of-day balance."


I couldn't find anything one what those rates might be. Sounds like they are not going to be as good as in the past. Does anyone have additional information?

10 Comments

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#2
. 1%

not worth saving with ally bank
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#3
Ya, I received the same notification. Wonder if they're gonna offer more % for higher balances. Too late for me though Frown
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#4
discover is .95 rate and you get a $100 signup bonus. i signed up. not bad. i had amex at .90 before.
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#5
Quote from Switching2Geico View Post :
discover is .95 rate and you get a $100 signup bonus. i signed up. not bad. i had amex at .90 before.
Do you get the $100 signup if you already have a credit card with them? Is it for the banking, the saving or both?

I'm looking to consolidate some accounts to one place if they are all going into the toilet. Ally tells you the rates are changing but posts NOWHERE what the new ones will be. Morons!
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#6
Quote from Switching2Geico View Post :
discover is .95 rate and you get a $100 signup bonus. i signed up. not bad. i had amex at .90 before.
Discover Bank sucks though, froze my account 3 times in 10 days since opening holding hostage all my money over a weekend when I needed it. Had to email in a bunch of documents to prove my identity. Got my $400 bonus between checking and savings and closing the account. See you later suckers.
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#7
Quote from bargeit View Post :
. 1%

not worth saving with ally bank
What other vehicle exists that pays better and allows you access to liquidity?
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#8
Quote from IvoryCadenza View Post :
What other vehicle exists that pays better and allows you access to liquidity?
Netspend has 5% on savings. Anytime you need a withdrawal, use ach, or their atm card.
I wouldn't bother with 1% at all these days.
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#9
Quote from FrozenBiker View Post :
Netspend has 5% on savings.
On up to $5k. May want to add that hug
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#10
Quote from LivninSC View Post :
On up to $5k. May want to add that hug
You can have six accounts tho: three with their MetaBank affiliation, and three with BofI
There is also the Mango option which is 5.2% after fees.
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#11
Quote from bargeit View Post :
. 1%

not worth saving with ally bank
Their webpage shows 1%, not .1%
https://www.ally.com/bank/savings-account-rates/

Discover shows .95%

Am I missing something???
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