Money Saving Advice

Best Online Bank with Highest Interest Rate for a Savings Account – Ally Invest Reviews

Today I have brought a solution to grow your money easier and faster than ever? While taking into account both risk and profitability, finding the best online bank with highest interest rate for a savings account can be the most suitable investment method than other programs.

I’ve been on Ally Bank (Known as “TradeKing” until it was acquired by Ally Bank) for many years after moving off from Bank of America. I have one checking and two savings with them. So I just wanted to talk about what I’ve enjoyed about Ally Bank.

For a variety of reasons, I’ve been a big fan of this bank. I’d like to share my first impression and take a look at Ally Invest reviews and comments at the beginning of my account migration.

Is acquisition and transformation a good move for former TradeKing customers and new investors? Read on to find the answer.

Best Online Bank With Highest Interest Rate For a Savings Account

In ETrade, Vanguard, Ally Invest, Fidelity, Schwab, Scottrade, and some other discount broker accounts, I have more experience in this area than thousands of other users. This Ally Invest review provides some useful benefits and comments on the best online bank.

You don’t need a physical bank to protect and grow your money. Not long ago, the capabilities of your savings account were limited by local banks. You could enjoy the highest interest rates and customer support of your local bank.

But now you have more options. Thanks to online banking, you can find the online banks with highest interest rate for a savings accounts than ever, as well as manage your banking relationships via computer or smartphone.

If you are interested in depositing your savings in a high-interest rate online savings account, read on to find out which online bank is best for you.

The Best Online Broker for Stocks Trading for Beginners to Experienced Investors

Thanks to the Internet, there has been a huge wave of discount online brokerage companies and new investment opportunities.

Investors can no longer contact a brokerage firm or use an exchange broker to complete business investment transactions or open investment accounts.

Each online broker website is different, which one is the best online bank with highest interest rate for a savings account?

Ally Invest has a lot of good stuff. They have a lot of great research tools. They also have a live platform. I could set up a bank. I could set up a credit card, and I can set up an auto.

It’s very user-friendly for 95 portrayed. They also have a lot of research tools compared to other platforms.

Another big reason why I love Ally is the fact that you have all of the different options in the same area.

You can bank with Ally, you can get a savings account, you can get the highest interest rate for a savings account, and SCD. You can have an auto loan, credit card, home loans and everything in the same area, and if you wanted an online bank, because that’s where the world is heading. Nobody goes into actual anymore. So if you wanted to do that, you can definitely do that.

Ally Invest has a live platform and it is easy to use. It does give you live information as you have to update it. For some reason, I don’t know why, but it is a great platform. So looking at the breakdown of Ally, I’ve really liked Ally because of the fact that you had everything in one spot.

You should definitely check them out. I’ll put a link down below as well, just to do a little bit of research.

Ally Invest Link

What is Ally Invest?      

   

Ally Invest, Best online bank with highest interest rate for a savings account
Ally Invest: Online bank with highest yield savings account online

Ally Invest is an online discount broker at Ally Bank. It is the 20th largest American bank with assets of over $ 160 billion. Ally Invest was previously TradeKing and was relaunched in 2017.

Therefore, Ally Invest has a low-cost fee structure that requires no maintenance/inactivity costs and reliable customer service, which is maintained throughout the day.

Due to Ally invest legacy from its origin as trade king, there are a lot of terrific tools for Options traders as well as education section to enhance your trading abilities.

You can trade stocks, funds, bonds, options and other shares through Ally Invest. I will describe the types of accounts that can be opened or switched to Ally Invest.

One thing that you should probably know about Ally is that it is FDIC member bank so that means that if you were to be a victim of any sort of fraud your money will still be protected up to about two hundred and fifty thousand dollars ($250,000). It’s just as safe as your typical commercial banks that you see in your neighborhood.

The great thing about this is that because they don’t have any physical structures they can pay the highest interest rate for a savings account.

A Quick History and Terms & Conditions

Ally Bank was previously a product of GMAC Bank. Whenever GM experienced its public relations nightmare, GMAC made an informed decision, and so was Ally was born.

Ally Bank offers some of the highest interest rates for a savings account also supported by FDIC. In an emergency, the FDIC receives federal support of at least $ 250,000 funding. You can get insurance over $ 250,000 by opening an account with your spouse with death benefits or opening an account with your child. With these additional accounts, you can get a total of around 1.5 million based on your family structure.

Is it Worth Investing With Ally Invest?

When TradeKing entered the market, it was one of the best trading platforms on the market and offered the lowest fees in history. Ally Invest has built this reputation by supporting a reliable self-managed investment platform.

But they’ve taken it one step further by introducing managed portfolios.

This is the perfect brokerage if you want to start using hosting options and then slowly invest in independent work. You can also decide to strike a balance between the two.

Another advantage of Ally Invest is that you can open a direct car account without paying a minimum deposit. This is true for both new and old investors who have just become independent investors.

Communication with Ally Bank is another important advantage. The bank offers some of the highest interest rates on the CD and my market, but they also offer many impressive car loans.

This is not surprising, as Ally Bank is a descendant of General Motors Acceptance Corporation (GMAC). They support this business and even improve with the help of a used car rental agreement.

You can search the investment field, but it’s hard to find a better general platform than Ally Invest. If you would like more information or to register to receive the service, you can visit the Ally Invest website.   

Ally as the Online Bank With Highest Interest Rate For a Savings Account

The main reason that I moved was the highest interest rate for a savings account. Ally Bank’s savings rate is 1.80%. I’m currently earning 1.80% on my savings account, and like 0.1%, something like that, on checking. It’s very little on checking, but that’s amazing.

So if you have like $1,000 sitting in your savings account, every year you’re earning $2? no, that’s wrong math, $20 and 10 cents? that’s wrong math too, $21 on that every year is just like free magical money.

Now, that might not seem like a lot, but if you take into account inflation, which is on average, about 2% a year, you’re actually just maintaining your money. At least you’re not burning it now.

So that’s been great. Unlimited accounts, this has been really cool. I don’t currently have more than one checking account, but I can have an unlimited number of checking accounts if I wanted.

I’ve been thinking about doing this to move some money around and make some automated finance stuff work a little bit better, track my business expenses a little bit better.

I do have multiple savings accounts, though, I used one for our rental property in San Jose, that’s where we kept our security deposit. I made 35 bucks on just holding a security deposit, which was awesome. And then my other one is just where I keep everything.

Ally Bank Review: Are They The Best Online Bank With Highest Interest Rate?

The most popular Money Magazine has recently named Ally Bank as the “Best Online Bank” for consumers based on high-quality customer service, platform availability and low cost. Below you will find more information and Ally Bank Review. If you are in the best online banking market, Ally Bank is the favorite option for you.

Would you like to earn 1.80% on your savings account? Raise your hand…

Don’t you believe it?.

Interest rates have been low for some time (too high for many people), and you need to find the best online bank with highest interest rate for a savings account. A viable option is Ally Internet Banking. If you search for low fees and the highest yield savings account online, Ally Bank will be your top choice.

This is an Ally Bank Review as it probably the best online bank for you.

All Bank Review

The Ally Bank relationship is one of the real benefits of Ally Invest. Not only can you invest through Ally Invest, but you can also use the Ally Bank platform for most banking operations.

Ally Bank is known for having one of the highest online interest rates for a savings account. They are also one of the best banks for car financing.

Ally Bank offers a percentage check that allows you to deposit checks remotely. Although banks do not have local branches, you can use ATMs on more than 43,000 ATMs across the country.

At the same time, Ally Bank will refund you up to $10 per account for all fees charged at other banks’ ATMs.

Savings: Ally Bank’s online savings account is a free savings account that pays some of the highest interest rates on available savings. This account also provides the ability to remotely deposit checks.

Money Market: Ally Bank’s money market accounts provide high returns and do not require monthly maintenance fees. You can also receive unlimited deposits and withdrawals from ATMs and make deposits.

Certificates of Deposit (CDs): The Bank Ally shines here. They offer some interesting CDs that offer the highest interest rates on the Internet.

Why I Moved To Ally Bank?

There was one time that I was looking for banking option that did not have any fees. I had a hard time finding banks that did not charge any fees. I looked into best online banks and this was one of the banks that I found that ended up being the bank that I went with, and I have a lot of great things to say about this bank.

There are also two other banks that I also tried out. There’s a bank called simple bank and then there’s another bank I forgot the name of it but both of them work in a very similar way. But they lack certain things that you would find in a traditional bank like cheques and they don’t have zeal for you to be able to transfer money.

There are a couple of reasons that I didn’t go with those banks when I tried them out but this bank had everything that I was looking for. I checked out their checking accounts and also their savings accounts.

I also tried out CDs and I tried out their investment account too, so all of them were pretty good. So first of all the checking account that they have, it has no fees or monthly fees. It still has overdraft fees but you don’t have to pay a monthly fee for the bank whether use or not it’s free.

With this Bank, you get an actual debit card for you to use and you can order cheques also.

You can have as many bank accounts as you want to have for free. This bank works like a real Bank. The only thing it doesn’t have is physical locations so you can’t go to a place like a physical place with people where to get customer service.

Open Your Ally Savings Account

The opening of a bank account in ALLY is similar to any other bank. Here I will walk you through the steps of how to open Ally savings account.

Since Ally Bank is basically an internet bank. They don’t have any physical structures and that’s why they offer the highest interest rate for a savings account.

So I’m just going to go ahead and click on online savings. You will see there that they’re paying 1.80% for savings accounts and that’s really good compared to what you get in your normal commercial banks of .01%.

You’re definitely going to get a better rate of return on your money. Maybe this doesn’t mean you have all your money in this account but maybe this service is a great place for you to park your money if you’re doing some sort of investing now.

Open savings account with Ally: The online bank with highest interest rate
Open savings account with Ally: The best online bank with highest interest rate for a savings account

If you want to open Ally’s savings account just go ahead and click open account and just simply follow the steps. It’s going to ask whether you are a new customer. I’m sure it has some basic information.

It’s a pretty simple process once you fill all the information out I definitely recommend you checking out Ally Bank.

You can also go to Google and look at Ally Bank reviews and you’ll see that they have a pretty good review with nerve wallet and other rating websites.

Let me tell you that as an Ally Invest customer I like the fact that I got the highest yield savings account online, if we do not touch the money and just keep it in the same account. 

One of the main differences is that your FICO score is used while opening the first account with Ally and other banks also check your FICO score. However, ALLY may refuse you based on your FICO score and other banks may consider other variables.

I received an email after sending my first request. This letter mentions the online community of trader network. I think this is very useful, especially for those who are not familiar with online investments.

My application was approved within 5 minutes. I received another letter explaining how to fund my account.    

How to Log in and Fund My Ally Invest Account?

Ally Invest will display the sign-in option in the upper right corner of the main page. When I first log into my account after approval, I am asked three security questions and answers.

You will also be asked to choose an image for your account security. This step is completed in minutes.

After logging in, four payment options for my account will appear on the screen. The screen is visually appealing and has a blue text on a gray background.

I clicked “No, thanks, I’ll fund it later”, and then I went to the dashboard. This funding notification will be displayed each time you sing in, until you deposit money into your account.

Ally Bank Website

The Ally Bank website is very simple making it easy to use but some research features are difficult to find. Ally lets you open a new account from the website or a mobile device.

Current customers of Ally bank can add an investment account quickly when you log in to invest live. You can personalize the home screen with a variety of widgets and drag and drop them to your specific needs. Mobile apps allow easy movement of cash between brokerage and bank.

If we go ahead and click on their website, it’ll take you to their home page and you can get all the different information on the different types of products they have. In terms of online banking, they have savings accounts money market funds. They also have IRA accounts.

If you want to open up some sort of credit card you can do that with them as well. You can also invest through their trading platform as well. The interesting story they actually used to be trade King.

Ally Banking Services

The Kiplinger magazine recently named Ally Bank “The Best Internet Bank” and “The Best Millennium Bank”.

Let me tell you why Ally banking services are my choice from online banking institutions. I currently do business with three banks but Ally is my favorite out of all the things that I’ve ever dealt with.

I’ve literally been a member of probably eleven banks but Ally is my favorite.

One of the advantages of becoming an Ally customer is that they offer a full range of banking services in addition to the new investment platform. This includes mortgages, debit/credit cards, car loans, online savings accounts, checking accounts, money market accounts, CDs and other banking services.

Many people feel like oh! I need to be able to get to my money quick but it’s not as bad as you think.

Let me give you a few reasons. Well, first of all, the money is pretty much at your fingertips. All you have to do is just log into the app or log into the website and you can connect any bank with it.

You can transfer money to that bank and if you do within a week it’s usually there the next day. So if I do withdraw for $2,000 tomorrow it’ll be there by the next day. Another reason why Ally is my favorite bank is because of the bank rates.

Ally Bank Lending & Auto Financing

Ally Bank’s mortgage and loan service can meet all of the financial needs of the home. They also offer cash-backed credit cards and offer unlimited prizes, including a 2% refund for gas stations and grocery stores and a 1% refund for all other items. You can add your account to Apple Pay or Samsung Pay without an annual fee.

However, the strong area of Ally Bank may be auto financing. They offer innovative programs to buy or rent a car. They also provide special financing for vehicles that offer accessibility financing options, such as right-hand drive vehicles and wheelchair lifts.

Used Ally Bank’s SmartLease: This is the most interesting car financing option. With SmartLease, you can rent used cars. You only have three requirements for renting a car:

  • No bad history
  • They are less than 4 years old
  • They have less than 75,000 miles.

SmartLease also offers guaranteed automatic protection and the ability to purchase the same protection for new models. This is an ideal financing option for those who prefer to own a car by first renting a used vehicle.

Benefits of Ally Bank

  • The low fees: An Ally Invest fee is almost the lowest in the industry – only $10 per transaction over 6 per statement cycle. But for high-frequency traders, in large accounts, their prices are still low, at $3.95 per transaction or trade.
  • Ally Invest offers independent trading and managed portfolios. You can act independently and manage part of the funds professionally.
  • Customer Service: Ally Invest representatives are available 7 days a week, and 24 hours a day.
  • Ally Bank is involved: Ally Bank offers the highest interest rates for a savings account and CDs on the Internet. You can also take advantage of a variety of car financing options.
  • For managed portfolios, you can change your risk tolerance and portfolio type from one category to another. This allows you to make your portfolio more aggressive and conservative.    

Ally is the Best Investment Bank To Invest

Ally is one of the best investment banks to invest and get the highest interest rate for a savings account. You can save the platform as an online broker discount firm and get the cheapest rates.

We’ll talk about here the investments. You can see that the investment choices are pretty wide open. You get pretty much everything but futures a side note about Forex.

Forex is actually an inner introducing broker for gain capital in New York so they give you the Meta trader for the platform.

They have the currency pairs that Meta trader offers. I would also point out that Forex is able to be funded by all of different types at debit card, wire transfer, ACH, and checks from an American bank that does make it a bit different than the actual investment account.  

They are two separate accounts. The investment account is funded by US Cheques.

 Now going back to some of the investment choices, stocks and ETS, for example, you can see in the below image that pretty reasonably priced.

Commission Fee: Ally bank, the best online bank with highest interest rate
Commission Fee: Ally bank, the best online bank with highest interest rate for a savings account

Stocks and ETFs, and Options are $0 commission. If there are more than 30 trades per quarter or if you have a daily balance of a hundred thousand there are Commission-free ETFs. In addition, mutual funds are reasonable with $9.95 per trade and bonds $1.

You can look over the platform at the bottom of the same page where you can see nice charting. It’s got a watch list so you can see Apple Amazon. Whatever you happen to be watching, like profit and loss graph, probability calculator, research data, market data, and options chains.

Ally bank traders Platform, highest interest rate for a savings account
Ally bank traders Platform: Highest yield savings account online

If you get a dividend it just buys a share or fractional share in that company. There’s no minimum deposit at Forex. There’s $250 to open up a self-directed brokerage account. Self-directed margin account needs two thousand dollars and that is an SEC thing that’s not an ally thing.

Margin portfolio accounts or managed portfolio accounts need $100. They are protected accounts (SIPC) which you can claim up to half a million dollars in losses.

So that’s one of the biggest advantages the Securities again stocks ETFs, options, mutual funds, fixed incomes, and this goes into corporate bonds.

 With that, you would know that it gives you plenty of potential investment vehicles like I said about the only thing you’re not going to see or futures. They do not deal with futures. Certainly, you can find pretty much anything you need at the front page of the website.

As you know this is your financial life this isn’t just trading. I had mentioned previously just written by financial authors, financial experts it’s a great place to put your money. This isn’t a day trading firm though this is an investment vehicle.

The Forex accounts a little bit different but then again it is separate as well. I’ve got an APR 1.90% which isn’t much but in this low rate environment that’s pretty good actually.

Most banks aren’t even paying interest at this point. Ally is a highly regulated being an American huge company been around for well over a decade. It’s a merger of several other companies.

Definitely worth a look it just kind of depends on what your needs or if you’re an investor you really can’t go wrong. Obviously it’s US-centric you’re talking about US stocks and options etc but definitely one of the leaders in the online brokerage situation in America.

Try Ally Invest. I don’t think you will be disappointed. Open an account with Ally Invest today.

Ally Invest: Commission Fee BIG ANNOUNCEMENT

In this section, we’re going to be talking about the big news about Ally they have changed their Commission fee. I am super excited and I wanted to do this a bonus part for you because there is a huge announcement that Ally put on their website.

They are going to be doing free Commission trades. So that means no longer are they charging the $4.95 fee to buy or sell stocks or ETFs. They are charging zero dollars now which is awesome.

 So I wanted to share this news with you because I actually use a Lionvest for my brokerage account. That’s who I have purchased a lot of my stocks with ally and I also use them for my savings account. Ally has a pretty good and highest yield savings account online.

I had seen that at the time Ally invest had one of the lower Commission fees at $4.95. I decided to switch over my brokerage account. So I rolled over my brokerage account, transferred all my stocks that I had into my ally invest account and I’ve been using that for my brokerage account.

I am super excited because they finally went to a $0 Commission fee and to pretty much compete with or kind of stay up with a lot of newer companies that have come out. So I wanted to share this news with you so that you would know about that.

Here are the Ally Invest commission fees:

  • Stock: $0 commission fee
  • Mutual Fund: 9.95 USD Buy / Sell per trade
  • Bonds: 1 US dollar per bond (minimum 10 US dollars)
  • Options: $0 commission fee, +50¢ per contract fee

Ally Invest Other Fees

Like Ally Bank, Ally Invest also stands out in this sector. While some discount brokers can also provide you with nickel coins through a hidden account or the costs of inactivity and IRA hosting fees.

Taxable accounts and IRAs do not involve monthly or annual fees for maintenance (former TradeKing customers will find that you have to spend over $ 2,500 in your account balance to avoid inactivity costs or complete a transaction within 12 months – So this is another improvement). 

Minimum Balance Requirement For Ally Invest: The Best Online Bank With Highest Interest Rate

No minimum balance is required for Ally Invest own account. For those who have just invested for the first time, this is a key factor and may not have enough money to invest in an account from the start.

To invest in an Ally Invest managed portfolio, you need at least $ 2,500.

Ally Invest Offers Free Trades: The Best Time to Invest Online

Investing just keeps getting better and let me give you an example of what I mean by that. Online brokerages are getting rid of commissions to buy stocks.

I got another email today or actually yesterday from Ally and at first, I thought it was to tell me that they were going to lower my online savings account yet again.

But I was pleasantly surprised to find out that it was actually about how I invest introducing zero dollar Commissions.

You work hard for your money we’re helping you to save it by charging zero dollar Commissions on trades. You make as your financial Ally we’re always looking for ways to help you reach your financial goals. That’s why we’re excited to announce the beginning today 10/9/2019 will be offering Commission-free trading on all US exchanges listed stocks, ETFs and options trades. Plus we’ve lowered our fee for option trades to just 50 cents per contract. Thank you for continuing to allow us to be a relentless Ally for your financial well-being.

I went to their website to see if I could see it and I didn’t actually see it on the site yet so they have an update of that but I did find this article from investopedia

Alright! I’m on my Ally account. I decided I’m going to try out this free trade now. You see in the below image little thing as of October 9th we’re going commission-free on US exchange-listed stocks ETFs and options trades.

Commission free trade with the best online bank
Commission-free trade with the best online bank with highest interest rate.

0 Commission Fee on Your Stock Trades, Practical Example

For example, I’m going to buy two shares of forge. So we’re going to click ‘trade’. Now go to the right corner (Above image) it is what we want and action taken, set the quantity.

Let say I want three market order for today. Now preview the order. So on the order preview notice your estimated cost as a cost of three shares, estimated Commission zero, estimated fee zero, now place the order.

 You’ve got it. Places many orders and we noticed that now I have 30 shares of Forge Motor Company no Commission Cost in.

This is the excitement of which I speak. This is a good time to be an investing so you guys with all these different brokerage firms going to zero Commission fees on your stock trades and ETF buys.

It’s a better time than ever for people to get into. Remember my mantra, invest early and often keep your fees low, invest long-term, do not buy and sell even though you’ve saving on these stock trade fees.

Buy your stocks and hold them. Buy your ETFs and hold them. I hope you got something out of this.     

Ally Invest Review – Affordable Online Trading Platform

Ally Invest Reviews: the best online bank with highest yield savings account
Ally Invest Review

If you plan to transfer your investment to a new broker, you must choose Ally Invest. As a member of the Ally Invest, I would say that it is one of the best investment brokers in the market, especially when you look at all the services they offer for almost every area of your financial life.                

The Latest Financial Trend: Banking and Investing Together

In an interview, Rich Hagen the president of Ally Invest said.

It is one of the trends that we’ve seen at Ally is the demand from consumers to make things really easy and simple. So that was really kind of the focus when we built Ally invest and what we did was, we brought the best of both worlds together.

We brought online banking together with online brokerage and wealth management all in one simple easy-to-use consolidated client experience.

Through This Platform What Can Consumers Manage Absolutely?

When asked this question from the president of Ally Invest Mr.Rich Hagen said:

Consumers could manage their checking accounts right alongside their investing accounts and on the Ally invest side we really have two platforms so people who are looking to self-direct their investments so do it by themselves.

So buy stocks, options, bonds, mutual funds, ETFs we have a platform for people to do that if clients need a little advice or guidance we also have a platform that does that.

We ask people some questions about their goals and their time horizon and their risk tolerance and then we take that information and make a recommendation to the client on a portfolio for them.

Of course you had a major crack this week so a lot of people might be concerned about security. What kind of safeguards are in place to kind of give this consumers peace of mind at Ally.

We have a relentless focus on customer security and privacy. We take it very seriously. And we spend a lot of money on security technologies and it’s something that we do take very seriously.

In addition to that we spend a lot of time educating consumers so things like creating a password and best practices around that and best practices around safeguarding your personal information.

On top of all that we do have humans At ally so if you have any questions regarding security you can talk to a person. Call us and talk to a person and we’re here to answer your questions 24/7.

When it comes to retail banking yeah we’re going to continue the journey and the focus that we’ve been on which is creating really easy and simple to use client experiences.

We look to the future. It may mean you know looking at things like artificial intelligence and how we use that to make portfolio recommendations and help people manage their finances. So a lot of exciting things to come in the future from Ally.

Well, I tell you what things just get easier and easier as life gets busier and busier. If any of our viewers are interested in finding more information on the platform we talked about today where’s the best place for them to go online the best place is Ally.com.

Ally Investment Tools

Ally Bank offers various options for investment:

  • The highest Interest rate for a savings account: You can open bank account online no deposit is required in the savings account, which is attractive to most people because their accounts do not include hidden fees. Ally is an online bank that offers the highest interest rate savings account, but due to federal regulations, you can withdraw money only 6 times without any fees. So this is no different from any other online banking services.
  • Ally money market account: Ally money market account is very similar to a savings account unless you have a bank card linked to this account. You’ll get a bit lower APY, but your money is more able to be used. Your credit card can be used on any ATM and ALLY will charge the bank for withdrawing funds. On the money market accounts, you are limited to six withdrawals per statement (six withdrawals refer to electronic online money transfers, telephone transfers and not withdrawals via an ATM).
  • Ally interest checking account: This option is very similar to Ally money market account, but does not contain any withdrawal restrictions. In all the above accounts, deposits are not counted in your six transactions.
  • The final choice is ALLY certificate of deposit or CD: They offer high yield CDs and are very competitive on the market. There are no fees for certificate of deposits. There is no minimum deposit for high yield CDs in ally bank. You can renew them automatically or request interest as income on expiry. Using the free Certificate of deposit, you can withdraw the full money, and interest at any time before the due date without penalty. This free CD slightly reduces the cost of APY, but increases the liquidity of the investment, depending on immediate needs, without any fees.

Ally Bank App

Let’s talk about the app for this Bank. I don’t want to display my app because I have all my information in there and so I’ll just use this and I could just show you the screenshots of the app.

Ally bank app, the best online bank with highest interest rate
Ally bank app: the best online bank with highest interest rate for a savings account

 I would say the app is pretty up-to-date. It’s not like an outdated app it’s pretty easy to use. I like the app so first of all, you can set up fingerprint sign-in which is really nice.

You don’t have to put in a password every time. You can just set up your fingerprint that layout is really easy to use. It has all your checking account information then it gives you different options like transfer, doing transfers, contacting them, and looking up where you can find an ATM to withdraw deposit money.

They also give you the option to deposit a check with a picture so that’s pretty easy to set up an account. It takes a couple minutes to apply online and then you’ll have an account opened.

Now let’s talk about some other things. If you’re looking for an ATM to withdraw or deposit money there are the purple signs on the ATM locator (see below image for reference) that do charge a fee which they will reimburse up to ten dollars. Or you can go to the green signs on the map, it’s a no-fee ATM. 

ATM Locator of Ally, the best online bank with high interest rate
ATM Locator: the best online bank with highest interest rate for a savings account

 It won’t charge you any fees and that’s the one I just use. I just go to going where there’s no fee and then I don’t have to worry about getting charged a fee and then reimburse.

The last thing, I want to talk about the different rates to give on different accounts. If you have just interest checking account and you get 0.1% interest on that account you can open a free savings account with them. Currently, it’s 1.85%, so this rate changes over time.

You can also have open CDs with them and these are the different rates that they have which change over time. You should just go check to see what they are right now so if you go get this highest yield CD you can get percent.

I think this is really good because you can have a checking account with them and you can also have a savings account in one bank that offers a really good rate.

For example like other online banks don’t have a checking account they only have a savings account so you have to move money in there. And when you need it you have to move it out. You don’t get a debit card or anything.

But with Ally Bank, if you ever need the money from your savings account you just move it to your checking account. And then you can just use your debit card or you can just go to an ATM and withdraw it.

Ally Bank Customer Service

Ally bank customer service has been nothing but good. There are a couple of weird things you had to reach out to support for, like getting a debit card in the first place.

You can’t order one through their website, that was a little weird, but their support was incredibly helpful, incredibly fast. They have chat phone support. I’ve used only the chat, I don’t think I’ve tried the phone yet, no, I haven’t tried phone yet, but really fast, really effective.

This is a bit more of a nerdy one, but I’ve been working in sort of the banking finance technology scenes for my whole career. The one thing that banks always really suck at is an API.

And API, if you don’t know, it’s just a programmatic interface to blah, blah, blah, to pull data from your bank. Tools like Ynab and Mint, they use this API.

So what that meant was with Bank of America, it would take many days before it clears my bank account and shows up in those tools. Ally is (snaps fingers) almost instantaneous.

The second I see it in Ally Bank, I see it in Ynab, which is amazing in terms of staying on top of your finances. There’s nothing worse than you are spending $1 on your bank account, and it not showing up in your budgeting tool for like another five days, 10 days, and sometimes 15 days.

Ally Bank Review Conclusion

Finally, we have concluded that ALLY Bank is a best online bank with highest interest rate for a savings account that offer competitive prices without a minimum balance and FDIC support, so you can be sure that your money is safe.

Keep in mind that they will measure you based on your FICO score when you open an account. Due to the processing time required, your first deposit may take a little longer than your local bank.

It is likely that you will also send a status check to ALLY Bank. Therefore, don’t be surprised if your check takes a few days to appear on your statement. Ally Bank Customer Service is readily available through 24-hour access and via telephone or online.

Do you have an Ally bank account? If so, tell us about your experience.

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Have you not created Ally Bank account yet?

Do you want to create Ally bank account to get the highest yield savings account online, If yes, click the below image, It’s time to start building your future today!

Ally the best online bank with highest interest rate savings account
Ally the best online bank with highest interest rate savings account

    

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