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re: Tell Me About Ally Bank
Posted on 5/3/16 at 9:41 am to steakbombLSU
Posted on 5/3/16 at 9:41 am to steakbombLSU
Assuming you mean capital one 360, totally agree. I use both ally and 360 for extra cash. No complaints. I especially like that ally doesn't charge for incoming wire transfers.
Posted on 5/3/16 at 9:43 am to Patrick_Bateman
I use Ally and have no complaints. But I don't do anything more complicated than ACH and the occasional paper check (their photo-deposit app works fine).
Posted on 5/3/16 at 10:07 am to txtiger79
Hijack question. I don't understand why people use multiple banks for personal use. I have so many various online accounts, I try to consolidate as much as possible into the same entities (banking/credit, phone/internet, etc). Only where it makes sense, of course. I happen to have Capital One credit cards and also use them for banking, so it works out.
Is there a good reason why you use both banks that I am missing?
Is there a good reason why you use both banks that I am missing?
Posted on 5/3/16 at 10:29 am to Teddy Ruxpin
quote:Yes, they're all paid up. The US Treasury made money off the investment (14% ROI after about 5 years).
Is Ally all paid up? It seems like it from what I can find.
If so, this seems to put it on the same moral ground as:
Citi
BOA
Chase
Wells Fargo
Goldman, etc.
Or did they do something extra shady?
Posted on 5/3/16 at 10:34 am to steakbombLSU
quote:If you like the checking account at one bank but the savings account at another, why not have accounts at both? Most banks don't offer 1% interest savings accounts, but Ally does. If you keep a sizable cash savings for emergencies (which is a sound personal finance practice), then you might as well maximize the interest rate you get. So a lot of people use one bank for their checking account, then have their cash savings at a bank like Ally.
Hijack question. I don't understand why people use multiple banks for personal use. I have so many various online accounts, I try to consolidate as much as possible into the same entities (banking/credit, phone/internet, etc). Only where it makes sense, of course. I happen to have Capital One credit cards and also use them for banking, so it works out.
Is there a good reason why you use both banks that I am missing?
Posted on 5/3/16 at 10:43 am to Hog on the Hill
Ok, that's an obvious reason, but one I wanted to confirm. Didn't know if there was any deeper reasons than that. On that note, Capital One 360 is a good hybrid of those.
Posted on 5/3/16 at 12:29 pm to steakbombLSU
FDIC insurance limits may play a role for some. Also, while the risk to savings deposits is somewhat remote, diversifying banks is never a bad idea.
Regarding credit cards, I don't have any loyalty between who stores my cash and whose cards I use. I'm after points/rewards all day everyday for my credit cards and interest rate on my savings.
Regarding credit cards, I don't have any loyalty between who stores my cash and whose cards I use. I'm after points/rewards all day everyday for my credit cards and interest rate on my savings.
Posted on 5/3/16 at 12:58 pm to txtiger79
Agreed, as am I in regards to points and interest rate. thats why I said when it makes sense. Haven't seen any basic savings interest rates over 1% and I happen to like capital one's credit cards (close choice over sapphire for me) so it worked out.
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