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Using Ally Bank as a savings account..good or bad ?

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Contributor

Using Ally Bank as a savings account..good or bad ?

I'm considering opening up an online savings account with Ally..I currently have a savings account with my CU, but I would prefer to have it stashed somewhere else so I won't be tempted to spend it, I would have about $125 a paycheck go towards the savings account..does this seem like a good idea ?


Starting Score: FAKO EQ 497 EX 516 TU 517 (4.28.12)
Current Score: FICO EQ 587 (9.29.13) TU (GECRB) 596 (2.19.13) EX (USAA) 482 (3.12.13)
Goal Score: 700 all across the board!
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5 REPLIES
Contributor

Re: Using Ally Bank as a savings account..good or bad ?

Unjust opened a savings and checking with ally. They seem like a good bank to use!
EQ 480 02/27/12- EQ 617 05/02/12
TU 500 02/27/12 TU 585 05/01/12
All scores are myfico
Message 2 of 6
Contributor

Re: Using Ally Bank as a savings account..good or bad ?

Sorry I meant to say I just. My auto correction is horrible!
EQ 480 02/27/12- EQ 617 05/02/12
TU 500 02/27/12 TU 585 05/01/12
All scores are myfico
Message 3 of 6
Valued Contributor

Re: Using Ally Bank as a savings account..good or bad ?

Isaiah2990 - I think it's a great idea!

 

I have an account with them.  It's so far out of the way I can't easily get to cash.  I don't do debit/cash cards.

 

Their interest rate is pretty good too.

Message 4 of 6
Contributor

Re: Using Ally Bank as a savings account..good or bad ?


IOBA wrote:

Isaiah2990 - I think it's a great idea!

 

I have an account with them.  It's so far out of the way I can't easily get to cash.  I don't do debit/cash cards.

 

Their interest rate is pretty good too.


Yeah I'm gonna gonna have about $150 a paycheck go to my savings..I decided to go with the money market account though..it's just like a savings but with a debit card..I won't use it, but just in case of emergencies.


Starting Score: FAKO EQ 497 EX 516 TU 517 (4.28.12)
Current Score: FICO EQ 587 (9.29.13) TU (GECRB) 596 (2.19.13) EX (USAA) 482 (3.12.13)
Goal Score: 700 all across the board!
Message 5 of 6
Established Contributor

Re: Using Ally Bank as a savings account..good or bad ?


Isaiah2990 wrote:

IOBA wrote:

Isaiah2990 - I think it's a great idea!

 

I have an account with them.  It's so far out of the way I can't easily get to cash.  I don't do debit/cash cards.

 

Their interest rate is pretty good too.


Yeah I'm gonna gonna have about $150 a paycheck go to my savings..I decided to go with the money market account though..it's just like a savings but with a debit card..I won't use it, but just in case of emergencies.


If your normal CU is not Alliant Credit Union and you're OK with a hard inquiry, I recommend Alliant. They have a better interest rate, a really greate website and awesome customer service.

Message 6 of 6