I haven’t seen this posted on the forum so I thought I’d share. Ally Bank currently has a $200 checking account bonus. Use code: get200 Requirement to obtain bonus is $1,500 in direct deposits within 90 days of account opening.
The good news and features about the checking slash “Spending” account as they call it that I do like…
0.10% APY for accounts with less than $15k or 0.25% for accounts over $15k
2 Day early direct deposit is available. Must receive 2 direct deposit (any amount) within a six month period to activate.
Detailed ACH transfers explaining when funds will be pulled and available through their “Status Tracker” for check orders, wires, or transfers.
Spending Buckets aka their digital version of the envelope system. You’re able to assign a merchant to that spending bucket and when you swipe you debit card funds will come out of that specific bucket. Helps budget for bill, etc.
The debit card controls are insane down to limiting transaction amounts.
@sznthescore wrote:I haven’t seen this posted on the forum so I thought I’d share. Ally Bank currently has a $200 checking account bonus. Use code: get200 Requirement to obtain bonus is $1,500 in direct deposits within 90 days of account opening.
The good news and features about the checking slash “Spending” account as they call it that I do like…
0.10% APY for accounts with less than $15k or 0.25% for accounts over $15k
2 Day early direct deposit is available. Must receive 2 direct deposit (any amount) within a six month period to activate.
Detailed ACH transfers explaining when funds will be pulled and available through their “Status Tracker” for check orders, wires, or transfers.
Spending Buckets aka their digital version of the envelope system. You’re able to assign a merchant to that spending bucket and when you swipe you debit card funds will come out of that specific bucket. Helps budget for bill, etc.
The debit card controls are insane down to limiting transaction amounts.
I agree with your assessment on the spending buckets. They have a great process for controlling spending if you primarily use a debit card for purchases. Also, the $200 bonus would be easy to get. My only issue with Ally is their credit card program. Right now I believe it is still by invitation only. Also, I haven't seen anyone with a limit higher than $3,000.
From my own experience, I acquired an Ollo card three years ago that was recently converted to an Ally card. It's the Ally Everyday Cash Back MasterCard, with 3% cash back for gas, groceries, and drug stores. They also have an Unlimited Cash Back MasterCard with 2% on everything. I received an invitation for the Unlimited card a few months ago but declined it due to the $3000 starting limit. That wouldn't be bad, but I already have a card with an overall 2% cash back through Penfed.
I had thought about going for the checking bonus and just depositing enough monthly to cover my normal credit card spend but I don't use the card much now due to other cards with the same or better limits. On banking bonuses, I recently setup the Capital One Checking with a $350 bonus, and also a savings bonus through Alliant of $100 after 12 monthly $100 deposits. I'm considering others, such as Wells Fargo ($300), Chase ($300 targeted offer), Bank of America $(200), AmEx ($250 I think), and Regions ($300). I know some people are getting the bonuses and later closing the accounts. I'm not good at closing accounts later so I'm only considering them if I can use other services at that bank, such as credit cards, savings, or loans.
Im not sure for Ally how you get the invitation but setting up the spending account, getting the bonus, and signing up for email offers might work. Once you're on their radar, you may get a credit card offer.
@nwa479 Thank for the feedback. Hopefully, I'll get an invitation in the far distance future. Not in a rush per se. Definitely, enjoying the banking experience. I've done the bonus close account thing, but I'll be keeping this relationship for sure... it's the detailed "status tracker" for me. And the fact that there's no minimum on the dollar amount for pulling/pushing money through ACH.
@sznthescore wrote:@nwa479 Thank for the feedback. Hopefully, I'll get an invitation in the far distance future. Not in a rush per se. Definitely, enjoying the banking experience. I've done the bonus close account thing, but I'll be keeping this relationship for sure... it's the detailed "status tracker" for me. And the fact that there's no minimum on the dollar amount for pulling/pushing money through ACH.
Good to hear that Ally is working great for you. I had heard good things from them but no experience except the Ollo Card transitioned to Ally. I would think they'll eventually add to their card portfolio, or maybe increase the limits, or allow for credit line increase requests.