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Frontpage Deal

Ally Bank: Deposit $1,000+ in New Funds to Savings, Money Market, or CD & Get EXPIRED

1% Cash Bonus
(Max of $250)
+145 Deal Score
91,449 Views
Ally Bank is offering a 1% Cash Bonus when you Deposit New Funds of $1,000 or more into a New or Existing Eligible Account (see steps below). Thanks mar543210

Note, eligible accounts include Ally Bank Online Savings, Money Market, or CD. Cash bonus applies to new funds added to an eligible Ally Bank account, not your total balance.

Steps
  1. Click here and sign up by 3/20/20 for this promotion
  2. If you don't already have an Ally Bank Online Savings account, Money Market account, or CD, open one and enroll in online banking at ally.com or on the Ally Mobile app (iOS or Android)
  3. Fund your eligible account by 3/31/20
    • Must move at least $1,000 from another financial institution to an eligible Ally Bank Account (transfers can take up to 3 business days)
  4. Maintain funds through 6/30/20
    • Any withdrawals during this time may reduce your bonus
  5. Earn Cash Bonus on or around 7/30/20 (maximum bonus is $250)
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Editor's Notes & Price Research

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  • Please review the complete terms and conditions here.
  • You must sign up using the same email address that is associated with your Ally Bank account, or that you plan on using when opening your new eligible account.
  • See forum thread for additional deal discussion. -qwikwit

Original Post

Written by
Edited March 13, 2020 at 10:40 AM by
https://www.ally.com/go/bank/bonus/


1% Cash Bonus Promotional Offer: Terms & Conditions

If you're reading this, you know we're running a Cash Bonus. Exciting, right? Here's how it works.

The Basics
You can get a Cash Bonus of 1% of the new money you deposit into your eligible Ally Bank accounts, up to a maximum of $250 per person. The Cash Bonus is open to both new and existing Ally Bank customers. Here are the basic steps to qualify, which we'll cover in more detail below:

  1. Enroll in this online-only offer here [ally.com] between 3/13/20 and 3/20/20 using an email address associated with your Ally Bank online access (or that you plan to use when enrolling in online banking)
  2. If you don't already have an Ally Bank Online Savings account, Money Market account, or CD, open one (or more) and enroll in online banking at ally.com or on the Ally Mobile app
  3. Move at least $1,000 in new money from an account at another financial institution into your Online Savings account, Money Market account, or new CD by 3/31/20
  4. Keep the new funds you deposited in your Online Savings account, Money Market account, or CD through 6/30/20
  5. Keep at least one Ally Bank account open and in good standing until we deposit your bonus
  6. Celebrate!
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Community Wiki

Last Edited by mezzyhandz March 15, 2020 at 09:13 PM
To maximize the $250 bonus, you will need to deposit 25,000 and keep it there for 3 months.

312 Comments

1

Featured Comments

You might want to also look at the 11 month No Penalty CD. Its rates were cut .15% today too, but they are giving you 1% for holding only 3 months. With the Fed expected to cut rates again, and in a big way, next week, 1.5%-1.75% plus a 1% (4% annualized) bonus is pretty good IMHO. Or you can close the CD without any fee in July if rates aren't competitive.

https://www.ally.com/bank/no-penalty-cd/
For the average investor, index funds are best - SPY --- or buy beaten down large caps that pay dividend -- BA, DIS, UTX, VZ
pretty awful advice given that the market downturn is based on an external threat that is literally shutting down businesses and profits and there is currently no end in sight. easier to stomach losing 15-25% of your portfolio when you're getting a small dividend in return right?

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03-13-2020 at 06:38 AM
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#5
Thanks that is a pretty good return for parking $25k for 3 months
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#6
Quote from okaythen
:
THanks for posting this, I got the email too but after I read the rate is dropped from 1.6 to 1.5, I closed it. I tho rest was the usual junk crap and didn't read none of it. thanks again!
You might want to also look at the 11 month No Penalty CD. Its rates were cut .15% today too, but they are giving you 1% for holding only 3 months. With the Fed expected to cut rates again, and in a big way, next week, 1.5%-1.75% plus a 1% (4% annualized) bonus is pretty good IMHO. Or you can close the CD without any fee in July if rates aren't competitive.

https://www.ally.com/bank/no-penalty-cd/
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#7
Quote from mar543210
:
You might want to also look at the 11 month No Penalty CD. Its rates were cut .15% today too, but they are giving you 1% for holding only 3 months. With the Fed expected to cut rates again, and in a big way, next week, 1.5%-1.75% plus a 1% (4% annualized) bonus is pretty good IMHO. Or you can close the CD without any fee in July if rates aren't competitive.

https://www.ally.com/bank/no-penalty-cd/
Very nice I will do that 11 month no penalty CD!

Is this the first time they offer something like this? the 1% bonus I mean, before I almost never read the emails from ally.com. Maybe I need to read them from now on!!!

Question after I sign up I can just initiate money transfer from another bank and it should count right, I don't have to use the "move money" in the sign up page, or initiate money from ally.com?

I am thinking coz of covid19, people ain't going out people ain't spending money, so they come up with this? Pretty smart and also pretty good bonus! (maybe some other online savings account will copy them, gonna keep an eye out!)
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Last edited by okaythen March 13, 2020 at 07:22 AM.
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#8
Thanks OP !
Certainly rates are dropping everywhere,
so a 1% bump in 3 mos is nice,

I am split among Schwab, Chase, and Marcus.
Had Ally in the past, will probably send in 25K.
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#9
Probably better to start buying into stocks with the crash that just happened.
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Quote from couchy
:
Probably better to start buying into stocks with the crash that just happened.
Which stocks r u buying
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#11
Quote from okaythen
:
Which stocks r u buying
For the average investor, index funds are best - SPY --- or buy beaten down large caps that pay dividend -- BA, DIS, UTX, VZ
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#12
Quote from okaythen
:
Which stocks r u buying
I've been putting my sideline cash into high dividend ETFs (HDV) on the way down so I can rebuild my cash buffer quicker.
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03-13-2020 at 07:38 AM
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#14
Quote :
We base your Cash Bonus calculation on net new money you deposit into your Online Savings account, Money Market account, or CD between 3/13/20 and 3/31/20 (and then keep in your account through 6/30/20). This means money you move out of Ally Bank and then back in won't qualify for the bonus, and any withdrawals you make from an Online Savings account, Money Market account, or CD between 3/13/20 and 6/30/20 may reduce your bonus amount. Transfers from other Ally Bank accounts or from Ally Invest accounts won't qualify for the bonus. Remember, check deposits and transfers from other financial institutions can take a few days to complete, so make sure to start any transactions well before the 3/31/20 deadline. We won't pay out bonuses by check or by transfer to another financial institution.

We're all about playing fair, so if we believe you're trying to game or abuse this offer, you won't be allowed to participate in this offer or any future offers.
You can't move money you have in Ally today out without hurting your bonus. It's net +$25k to Ally (excluding checking, IRA, etc.) thru 6/30/20 for this to work.
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#15
Quote from okaythen
:
Very nice I will do that 11 month no penalty CD!

Is this the first time they offer something like this? the 1% bonus I mean, before I almost never read the emails from ally.com. Maybe I need to read them from now on!!!

Question after I sign up I can just initiate money transfer from another bank and it should count right, I don't have to use the "move money" in the sign up page, or initiate money from ally.com?

I am thinking coz of covid19, people ain't going out people ain't spending money, so they come up with this? Pretty smart and also pretty good bonus! (maybe some other online savings account will copy them, gonna keep an eye out!)
As bootymonger rightly points out, if you moved money out today I would chat with them and see if you signup after you move money, will it count towards the bonus or do you need to move money in addition to the amount you moved out.
Good luck.
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