• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 31 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 31st anniversary: Happy 31st Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $24,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $24 Million dollars
  • Sign up to get the TUG Newsletter for free!

    Tens of thousands of subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Ally bank for savings?

dago said:
I use Ally Bank. I started using them in 2020. I have had absolutely no issues with them. I get my withdrawals within 3 business days. I believe there is a limit on the amount you can withdraw at a time, but it's way more than I will ever need. I am very happy with them. The interest rate is now 1.75% effective today.
Citi is another story. They are a little more restrictive.
Click to expand...
Are they FDIC insured?
 
We had an Aly account years ago but because it is online and needs a password the problem for us was a glitch when I changed the password and was locked out of our account with no one to talk to. Eventually a loss prevention person contacted us and was able to transfer my call to some one that could help. It wasn't a big deal but after our loan was paid I closed the account.

Bill
 
easyrider said:
We had an Aly account years ago but because it is online and needs a password the problem for us was a glitch when I changed the password and was locked out of our account with no one to talk to. Eventually a loss prevention person contacted us and was able to transfer my call to some one that could help. It wasn't a big deal but after our loan was paid I closed the account.

Bill
Click to expand...
Understand. I had similar issues with my MIL's accounts at Key Bank. I closed that account.
There is always glitches that you run into with any bank. The glitches I can accept. It's the poor customer service that is a turn off for me.
So far, no issues with Ally.
 
dago said:
Understand. I had similar issues with my MIL's accounts at Key Bank. I closed that account.
There is always glitches that you run into with any bank. The glitches I can accept. It's the poor customer service that is a turn off for me.
So far, no issues with Ally.
Click to expand...

We were pretty happy with Aly. I'm sure I caused our glitch. We left Bank of America because they closed all of their branches in our area and the service went downhill as they let employees go. We left 1 personal account open at BOA for our convenience.

Bill
 
Brett said:
I check Schwab for CD rates but can't get excited about 2% yields
Click to expand...
Honestly, it depends how soon you might need your $$. Frankly, I'm surprised how many consumers are sucked into this falsehood.

Understand what your buckets of $$ are for, and then decide from there. Cash can be king!
 
And, all this was for naught. Turns out Discover is now paying the same as Ally.

Worse, Ally limits withdrawals to 10K per day :(

I haven't run into a limit with Discover.
 
I have online savings accounts with Barclays.
They currently pay 2% with no limit on draws.
But there's a 5 business-day hold on deposits.
The online interface is fairly simple & intuitive.
.
 
Snazzylass said:
Worse, Ally limits withdrawals to 10K per day :(
I haven't run into a limit with Discover.
Click to expand...
Are you sure this is correct?

I made a $40,000 online transfer from Ally to another bank in early August. At the time, the other bank was paying a higher interest rate.

I just saw today's CPI (inflation) report. Inflation continues to run high. It's likely that the Fed will raise interest rates later this month, and the online banks may follow.
 
I used Ally Bank before and didn't care for how slow the transfers took. It took 3 to 5 days for funds to get transferred out. Their website was also very slow. I used Synchrony Bank 2 years ago and their login passwords must not contain special characters. I pulled all money out last year as their online outfit is not secure. Right now, I simply buy CDs through Fidelity but offered by all the big banks and investment firms, and their rates beat all the online banks.
 
Last edited:
VacationForever said:
I used Ally Bank before and didn't care for how slow the transfers took. It took 3 to 5 days for funds to get transferred out.
Click to expand...
Interesting. I use Ally to initiate transfers to/from my Wells Fargo accounts all the time, and it is always completed in 2 days.

Kurt
 
We have used Ally Bank for over five years no problems or issues.
 
We've been traveling for the past few weeks. We just returned home last night, so today is catch-up day for all the things I couldn't do while away (while using a public network, for example).

I see that Ally is at 2.5% for their savings account as of today. I don't know when they last adjusted the rate on their savings account. Perhaps it's due for another bump up after the Fed's decision to raise rates last week? They also offer a "no penalty" CD at 3.1% with an 11 month term. (I don't have this type of account, but I'm wondering if I should consider it.) According to the Ally website: You can withdraw all your money any time after the first 6 days following the date you funded the account and keep the interest earned with no penalty.

We have a Wealthfront online savings account. This is now at 3.3%. That's even higher than the Ally no-penalty CD.
 
You must log in or register to reply here.
Top