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13 Comments

  • Reply Alice |

    Yes, I’ve had an online savings account with Ally for a couple of years. I have a set amount of money automatically transferred from my main bank checking account into the savings account each month. I’ve found the website easy to navigate, transfers back to checking are easy, and their rates were competitive. In the research I did beforehand, I found that they were highly recommended.

  • Reply Parul |

    I have been using Ally for about 5 years now and love them. I have used their high yield CDs too and have been impressed by their competitive rates.

  • Reply Drmaddog |

    I have an account with Ally as well. Only minor complaint would be transfers can be slow. I would keep a small cushion in a savings account with your checking account bank for more rapid transfers if you happen to find you need something faster, like a forgotten check or something. I have recently opened one through Citibank as well, which is currently offering 0.70%.

    • Reply Sara S |

      I’ve wondered about the transfers. It took about 3 days for our initial transfer to go through.

  • Reply Klm |

    Yep, we keep our 6-9 months of living expenses in Ally. It was weird to transfer it, but we went from making $10/ year in interest to about $1600/year.

  • Reply Andrea |

    I’ve been happy with Ally too (although it’s been sad watching the rates tumble over the last few months).

    I am really happy now that they let you have “buckets” for different savings categories without actually opening separate accounts. I have about 6, and my monthly interest goes directly into my “vacation” fund.

  • Reply Katie |

    Another satisfied Ally customer. It has been disappointing to watch the rates drop, but it’s still more rewarding than what you get at other banks.

  • Reply Drmaddog |

    The rate with Ally do drop with the market, but i have also seen that they adjust up about as quickly vs other banks that cut rates quickly but are slow to adjust up. The last time rates were rising a year or two ago, I would get an a email from Ally, often within a week or two after the fed rate increases, stating they were increasing the interest rates. That is another plus for them.

So, what do you think ?