Checking Account Suggestions

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Estrella

Senior member
Jan 29, 2006
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I was looking at the Ally Interest Checking account. Does anyone have experience with Ally?
 
Bignate603

Bignate603

Lifer
Sep 5, 2000
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Ally used to be part of GMAC but I wasn't aware that they had any local branches. Personally, I prefer to have my checking at a local place. Sometimes having a local branch makes some stuff easier than doing everything through the internet or through ATMs.
 
dullard

dullard

Elite Member
May 21, 2001
26,066
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I never tried them, but they made Money Magazine / Fortune Magazine / CNN's #1 spot for least evil bank.

But, I don't understand why you'd put over $10k in checking. Savings accounts in some locations are earning more interest than Ally's checking accounts. Just last week, my wife just opened up a 1.25% savings account at First National Bank for example.
 
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rcpratt

rcpratt

Lifer
Jul 2, 2009
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http://www.fatwallet.com/forums/finance/783099/

Code: 
 APY   Eff     Bank/CU/Other             Min HInq HY Cap Debits ACH  FW link   Notes

4.11% 12/13/10 Liberty National Bank      $0  ?    10K     12    T             10K , 0.50% APY
3.75% 11/18/10 AmericaNet Bank            $0  N    10K     10    0   fw link   10K , 1.00% APY (says sold out on the website)
3.75% 11/18/10 Evantage Bank              $0  N    10K     10    0   fw link   10K , 1.00% APY (says sold out on the website)
3.03% 10/21/10 Coulee Bank                $0  N    25K     10    T   fw link   25K , .51% APY
3.01% 10/21/10 Danvers Bank               $0  N    25K     12    T             25K , 0.25% APY
2.55% 10/21/10 Connexus CU                $0  ?    25K     15    T   fw link   25K , 0.50% APY
2.51% 10/21/10 Provident CU               $0  ?    25K     10    T   fw link   25K , 0.31% APY
2.51% 10/21/10 State Bank of Toledo       $0  ?    25K     10    T   fw link   25K , 1.0% APY
2.50% 10/21/10 First New England FCU      $0  Y    15K     12    T   fw link   15K , 0.25% APY (3.51% rate with auto loan or mortgage)
2.25% 12/09/10 The Bank of Fayetteville    ?  ?    50K     10    T   fw link   50K , 0.3% APY (HY Cap to be reduced to 25K, effective 2/9/2011)
2.01% 10/21/10 West Texas National Bank   $0  ?    25K     10    T   fw link   25K , 0.50% APY
 
E

Estrella

Senior member
Jan 29, 2006
900
0
76
dullard said:
I never tried them, but they made Money Magazine / Fortune Magazine / CNN's #1 spot for least evil bank.

But, I don't understand why you'd put over $10k in checking. Savings accounts in some locations are earning more interest than Ally's checking accounts. Just last week, my wife just opened up a 1.25% savings account at First National Bank for example.
Click to expand...

Because I need over 10k in checking without a shit-ton of restrictions; Savings accounts come with restrictions.

However, I have other chunks I need to do something with. This is what I will be figuring out tonight.

As far as checking goes, anything is better than Chase and the major banks(w/e that means).
 
dullard

dullard

Elite Member
May 21, 2001
26,066
4,712
126
Estrella said:
Because I need over 10k in checking without a shit-ton of restrictions; Savings accounts come with restrictions.

However, I have other chunks I need to do something with. This is what I will be figuring out tonight.
Click to expand...
If you have several chunks of money on that order, then I suggest you might want to talk to an actual banker. Not the teller, but the banker. If the several chunks add up to at least $50k you can probably sweet talk them into assigning you a personal banker or private banker (higher up and probably not in the same building, sometimes not even in a bank building). A true personal banker can get you things that you've never imagined.

For example, mine suggested that I put my money in a high interest CD. But, I needed access to the money and CDs are horrible if you need access. So, he suggested we set up a interest free and penalty loan from the CD that I could use when I needed the CD money. Bingo: full access to money while earning CD interest rates. I happened to turn him down and put it in the stock market (luckilly that was a good idea for me). But, that option was there. You won't find that type of service online or from internet forums. You'll only find that service in person.
 
E

Estrella

Senior member
Jan 29, 2006
900
0
76
dullard said:
If you have several chunks of money on that order, then I suggest you might want to talk to an actual banker. Not the teller, but the banker. If the several chunks add up to at least $50k you can probably sweet talk them into assigning you a personal banker or private banker (higher up and probably not in the same building, sometimes not even in a bank building). A true personal banker can get you things that you've never imagined.

For example, mine suggested that I put my money in a high interest CD. But, I needed access to the money and CDs are horrible if you need access. So, he suggested we set up a interest free and penalty loan from the CD that I could use when I needed the CD money. Bingo: full access to money while earning CD interest rates. I happened to turn him down and put it in the stock market (luckilly that was a good idea for me). But, that option was there. You won't find that type of service online or from internet forums. You'll only find that service in person.
Click to expand...

That's cool however, any larger than what I am putting in this account is going to other investments which will accrue more (on the average) than what even most generous bank programs will offer me.
 
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