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Ease of CD management with online banks
Old 01-12-2020, 06:51 PM   #1
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Ease of CD management with online banks

I hope this is in the right forum.


I like the ease of CD management provided by Ally Bank. One can let a CD renew, add money at renewal, close at renewal, renew but bleed off the interest earned into a different account, let the balance and the interest rollover, add money at renewal while bleeding off the interest earnings from the prior term into a different account, etc., all online in an easy-to-use interface.


Are there other online banks with similar easy CD management? For example, I find Discover Bank's online CD management interface clunky and lacking in many of the options listed above.


I'm looking for another online bank (or other online banks) with flexible CD management similar to that provided by Ally (with similar interest rates, obviously, to those offered by Ally). Any recommendations?


Thanks in advance,
Lumpy
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Old 01-12-2020, 11:52 PM   #2
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Agreed - Ally makes it easy online and I often use their no penalty CDs.

Synchrony is a pain because you can’t choose anything other than auto renew online and you have to call in to get them to set it to redeem at maturity.

I’ve had good luck with Andrews FCU configuring the certificates when purchased to redeem at maturity.
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Old 01-13-2020, 05:00 AM   #3
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Likewise Ally is a breeze to manage CD's. However most of my CD's are through Fidelity brokerage which is even easier. The rollover option would make it almost effortless. Personally I prefer to select my own reinvestment options which still only take a couple of minutes.
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Old 01-13-2020, 07:15 AM   #4
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I have Ally as well as TIAA (used to be Everbank). Very easy to work with.
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