Note: Although the cash promotion has ended, you can still get a high interest rate with an Ally Bank savings account, or you can check out other bank promotions that might be available here.
Ally Bank has long been buzzworthy in the banking arena, simply because of the convenience (and savings) that comes with online banking. Even better are the various new account promotions and bonus opportunities. For a limited time, you can earn up to a $1,000 cash bonus when you move new money to Ally Bank. But you’ll need to hurry if you want to get it. Here’s how.
Ally Bank 1% Cash Promotion – Ally Payback Time
First, sign up for the 1% cash back promotion to get started by 10/21/2018. You’ll need to do this even if you are already an Ally Bank customer.
Then, move money from your bank to a new or existing Ally account by 10/31/2018. You have to leave the transferred funds in the account until 1/15/2019 to qualify for the promotion.
You’ll get the 1% cash back bonus (up to a $1,000 bonus) on the money you’ve transferred by 2/15/2019.
Things to Keep In Mind
For this promotion, it’s important you are aware of and follow the steps properly or you won’t qualify for the bonus. For instance, make sure you transfer funds you can leave in the account until January 2019. You don’t have to transfer to a particular type of account – you can choose either a savings account, money market, interest checking, or even a CD.
Further, the minimum bonus you can earn is $10, which means you’ll need to transfer at least $1,000. You can qualify for a bonus up to a maximum of $1,000, with a $100,000 deposit. The bonus will only apply to new money you transfer. So, if you have an Ally Bank account already, you won’t earn the bonus on your total balance. Other terms and conditions you should review are here.
Why This is a Great Deal
Besides the opportunity to earn up to an extra $1,000 without doing anything but transferring your money, Ally Bank is well-known for other valuable banking benefits.
For savings accounts, the Ally Bank APY is currently a whopping 1.90%. This is one of the highest rates you’ll find with any bank account. In comparison, Chase Bank offers .01% and Bank of America offers .03%.
So, if you transfer your new funds to an Ally Bank savings account, you’ll not only earn the 1% cash back promotion, but you’ll earn one of the highest interest rates available.
Plus, there is no minimum balance required, but the minimum bonus you can earn is $10. There are many ways to earn extra money to take advantage of this promotion.
Last, the promotion isn’t limited to new customers, like so many other bank promos. If you already happen to bank with Ally Bank, you can earn the bonus by adding new money to your account. Just make sure you sign-up for the promotion before you transfer.
Are you ready to start out 2019 with some extra cash? Sign up for the Ally Bank promotion here. And, don’t forget, you only have until 10/21/2018.
Did you sign up for the new promotion? Share your tips in the comments below.