GMAC Online Banking

**Ima saver** · 08-01-2006, 02:21 PM

Re: GMAC Online Banking

When I sell my house I plan to open a gmac account. I think they will handle things by mail which I like.

**WellManicuredMan** · 08-01-2006, 05:54 PM

Re: GMAC Online Banking

Originally posted by risknothing

Currently I have been using ING Direct and just found out about GMAC, what i would like to know is how people feel about their service and is it possible to connect the ING account to the GMAC account

Thanks for the help

I don't have ING or GMAC but rather www.emigrantdirect.com for my savings. They have worked great for me so far. You might want to consider them as well.

**sweeps** · 08-01-2006, 06:40 PM

Re: GMAC Online Banking

GMAC is fantastic. Consistently high rates, good customer service, lightning-fast ACH transfers. Plus you can write checks if you like.

**Broken Arrow** · 08-01-2006, 06:48 PM

Re: GMAC Online Banking

I'm currently still on my brick & mortar money market account, but when I get to this step, I am most likely going to jump over to GMAC as well.

**poundwise** · 08-01-2006, 06:57 PM

Re: GMAC Online Banking

GMAC is great. Just be aware that they do have a minimum balance requirement of $500 to earn interest and avoid fees. I think you'd be pleased with the account.

**Broken Arrow** · 08-01-2006, 07:13 PM

Re: GMAC Online Banking

Yeah, the $500 minimum balance is the only thing I don't like about it, compared to, say, HSBC that does not appear to have a minimum balance requirement to avoid fees.

**risknothing** · 08-01-2006, 07:26 PM

Re: GMAC Online Banking

I called their customer service and they said that i could link my ING account to the GMAC account which is great. However, they only allow you to withdraw 3 times a month, after that they charge a fee.

Also, could there be any negatives to GM selling off GMAC Bank?

**sweeps** · 08-02-2006, 03:04 AM

Re: GMAC Online Banking

Originally posted by risknothing

could there be any negatives to GM selling off GMAC Bank?

It's possible, but unlikely. I think nowadays you shouldn't be married to any bank. If your bank doesn't keep up with your expectations, there are lots of alternatives out there.

**Broken Arrow** · 08-02-2006, 03:22 AM

Re: GMAC Online Banking

I could have sworn that GM has already sold off GMAC.

Yeah, here's one such article about it.

**Ima saver** · 08-03-2006, 10:09 AM

Re: GMAC Online Banking

Thanks for the article, broken arrow. I think GMAC will be ok!

**Saving in So Cal** · 08-03-2006, 09:23 PM

Re: GMAC Online Banking

I am pretty picky about customer service and so far GMAC bank has been great. I did have problems getting a link set up with my Bank of America account, but the problem was on Bank of America's end.

**sweeps** · 08-04-2006, 06:33 AM

Re: GMAC Online Banking

Well, folks, I spoke too soon. GMAC just lowered its money market rate back down from 5.1% to 5.0%. To say I am disappointed would be an understatement.

**gotalkmoney** · 08-05-2006, 10:52 AM

Re: GMAC Online Banking

I'm through GMAC and I love them. I haven't had any complaints besides the lowering of their rate from 5.10 to 5.00 like sweepsplayer said.

They usually keep up with the rest of the banks, rate wise and their minimum start-up is very low compared to other bank's money market accounts.

Good customer service and very fast bank transfers.

**risknothing** · 08-05-2006, 05:10 PM

Re: GMAC Online Banking

I just started opening an account and 2 days later it went down. Didn't they just raise it? I wonder why they lowered theirs while everyone else raised their rates.

GMAC Online Banking