New Offer: Ally Deposit Bonus

[kork13]

This showed up in my email, just passing it on for the masses.

For those of you who recall Ally's "new deposit" bonus from last year, they're offering it again.

Bottom line:
- Register between 13-20 Mar 2020 (sign-up page linked above)
- Deposit $1000-$25000 of new money from an external institution NLT 31 Mar 2020
- Maintain the increased balance (net of deposits/withdrawals) through 30 Jun 2020
- Receive 1% of your new deposit as a bonus in July, up to $250.

In effect, it's basically an effective 4% guaranteed return over 3 months, if you have the spare cash available.

[greenskeeper]

I get these "new account" deals monthly. Most are $300 bonus deposited after 60 days with a direct deposit of at least $500. I've been too lazy to open more banking accounts it seems.

[disneysteve]

I get these "new account" deals monthly. Most are $300 bonus deposited after 60 days with a direct deposit of at least $500. I've been too lazy to open more banking accounts it seems.

I never bother with them either. The nice thing about the Ally one is that it isn't only for new customers. We already bank with Ally and deposit money once or twice a month, so we earned a bonus on money we were going to put into that account anyway.

[disneysteve]

I just signed up. I'll transfer some money in a few days and then again before the end of the month after my next paycheck. I can probably get at least $5,000 in so $50 of free money. I'll take it.

[kork13]

The difference that I do like about these ones is that they're not asking you to open new accounts, simply to add new money & keep it there for a few months. So it's not complicating my life any further. I went ahead and sent the full $25k that I already have in another account.

[disneysteve]

The difference that I do like about these ones is that they're not asking you to open new accounts, simply to add new money & keep it there for a few months. So it's not complicating my life any further. I went ahead and sent the full $25k that I already have in another account.

I wish I had 25K lying around. I sent in 2K tonight and will send in more before the end of the month.

[kork13]

I wish I had 25K lying around. I sent in 2K tonight and will send in more before the end of the month.

This is just our house downpayment cash that's already been sitting around... Otherwise, I think I'd have trouble scraping together more than ~$10k (short of cashing in I-Bonds that are part of our EF). But with our move getting delayed until no earlier than mid-May, keeping it in that account (vs. the money market account) through end of June should be a non-issue.