Announcement

Collapse
No announcement yet.

Who uses Ally Bank?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Who uses Ally Bank?

    I just opened an online savings account and transfer "all" my emergency fund money because of their higher interest rate compare to traditional bank.

    I was wondering who else uses online bank or ally in particular. I'm not sure if it's safe to put all my emergency fund money in one basket.

    I know it's insured and they are legit bank. I know web security nowadays is better and I can track my money online everyday but I still have this question, do i need to worry about something?

    #2
    I wouldn't worry about anything in that regard, and I don't. As you said, they're insured, secure, and are under no impending danger.

    I have pretty much all of my cash savings with ally, in total about $15k. Home account (taxes, insurance, repair), car purchase account, general savings, and a small part of my EF (~$2k).

    I personally keep the majority of our EF in I-Bonds, to which I have migrated over the last few years. They're earning more than Ally & comparable banks, and will continue to follow inflation.
    "Praestantia per minutus" ... "Acta non verba"

    Comment


      #3
      Nothing to worry about. They are one of the most popular online banks.

      We keep our EF there.
      seek knowledge, not answers
      personal finance

      Comment


        #4
        I've been using them since 2006, back then it was called GMAC Bank. The best online bank, never had any issue with them, even during the financial meltdown of 2008.

        Comment


          #5
          Our son has Ally Bank and we use Barclays Bank. Money is FDIC insured so not a problem.

          Comment


            #6
            There services are very nice. whether you prefer email, phone or online chats, you can always find access to their 24/7 customer services.

            Comment


              #7
              I use Ally Bank. They are great. Interest compounds daily and rates are competitive. Transfers happen quicker than other banks I use too.

              If you're worried about having all your savings in one online bank, why not split it between two?
              Discover bank might be a good choice. They have a good savings account and Discover is certainly not going anywhere.

              Comment


                #8
                I have all our liquid cash in Discover bank. We have been happy with them for a long time.

                Comment

                Working...
                X