Best CD & MM Rates Thread 2018 Archive

[calmloki]

We funded Ally 1% bonus accounts for the gal and I, from our Chase account. Ran into a glitch - $100k daily limit on ACH transfers - AND the funds will arrive with Ally next Tuesday. For the first time an actual advantage to Private Client status: the limit on wire transfers is $250k/day and no fees for Private Client. I did the remaining $100k as wire transfers and Ally has them credited today.

 

[catotx]

We funded Ally 1% bonus accounts for the gal and I, from our Chase account. Ran into a glitch - $100k daily limit on ACH transfers - AND the funds will arrive with Ally next Tuesday. For the first time an actual advantage to Private Client status: the limit on wire transfers is $250k/day and no fees for Private Client. I did the remaining $100k as wire transfers and Ally has them credited today.

You might be thinking the funding deadline is 10/21; it is not. 10/21 is the deadline to signup for the offer.

 

[audreyh1]

Right - the funding deadline is 10/31, although as long as you initiate a transfer from Ally by 10/31 they give you until 11/5 to get the funds into your account.

 

[calmloki]

You might be thinking the funding deadline is 10/21; it is not. 10/21 is the deadline to signup for the offer.

I am aware of the signup deadline, but Chase pays diddly interest so it cost us about $10/day to have it not in Ally. The banks can pull offers - I try to take advantage soonest. I like things to be done ASAP, so when the inevitable gotchas crop up I still have time to address them.

Chase's extended time to deliver an ACH is an example. EBSB, as another example, is still showing a slug of cash we put there as pending - we did an ACH from Discover on the 11th and EBSB says the funds will be available on the 24th! Not that I have any need to access those funds, but I like maximum freedom of movement to go with higher returns.

 

[MJ]

Right - the funding deadline is 10/31, although as long as you initiate a transfer from Ally by 10/31 they give you until 11/5 to get the funds into your account.

This comes from Ally's enrollment website "Deposit new funds into their eligible account(s) between 10/08/18 and 11/05/18 will receive a Cash Bonus of 1% of their new deposit, up to a maximum of $1,000"

As you can see as long as the money is in by 11/05 which means even a wire to your account on 11/05 would be acceptable, not that you would want to cut it that close.

 

[audreyh1]

This comes from Ally's enrollment website "Deposit new funds into their eligible account(s) between 10/08/18 and 11/05/18 will receive a Cash Bonus of 1% of their new deposit, up to a maximum of $1,000"

As you can see as long as the money is in by 11/05 which means even a wire to your account on 11/05 would be acceptable, not that you would want to cut it that close.

There have been some discrepancies about that. I certainly saw a 10/31 date for moving new funds when I signed up where the email clearly says to fund account by 10/31. From Depositaccounts.com:

[Update 10/19/18: I received further clarification from my Ally contact concerning the discrepancy about the end date of account funding. The promo page and the enrollment email says 10/31/18. The Terms and Conditions say 11/05/18. According to my Ally contact, 11/05/18 is correct. The 10/31/18 date was used in the promo page and email to ensure transfers initiated by 10/31/18 will have time to complete by 11/05/18.]

 

[MJ]

There have been some discrepancies about that. I certainly saw a 10/31 date for moving new funds when I signed up where the email clearly says to fund account by 10/31.

I just wanted to clarify the date just in case someone didn't have the funds until Nov 1, 2 or even 5 and could wire the funds to ally by the 11/05 final date.

 

[jazz4cash]

NFCU 24mo @3% for 10k min CD or IRA CD.

 

[kaneohe]

I don't think so. I think you pretty much are stuck leaving all funds at Ally until 1/15. They've made that pretty clear that any withdrawals until then will lower your bonus.

what if current funds are in non-qualifying trust accounts? If you withdraw from them before 1/15 , does that lower bonus also?

 

[audreyh1]

what if current funds are in non-qualifying trust accounts? If you withdraw from them before 1/15 , does that lower bonus also?

No idea - you’d have to call them.

 

[Dtail]

Ally Bank bonus - does one know if having a joint account allows for a 2k bonus or a 1k bonus with 200k transferred?

 

[njhowie]

Ally Bank bonus - does one know if having a joint account allows for a 2k bonus or a 1k bonus with 200k transferred?

It's per account, sole/joint registration isn't going to change that - it's $1000 max bonus per account. Now, you can open multiple accounts filling each with $100k. For example, get multiple CDs to reach whatever total you want. You might open multiple 11-month no penalty CDs which are currently 2.1% for $25k or more.

If going this route, you'd need to fund each individually from outside. If you moved $200k into an Ally checking account and then bought two $100k CDs from there it's not going to work.

You might want to give them a call to verify that you can do that.

 

[audreyh1]

Ally Bank bonus - does one know if having a joint account allows for a 2k bonus or a 1k bonus with 200k transferred?

I think it’s per email enrollment for the bonus which has to match your accounts email. In my case, even though DH is joint, they just use my email to contact me and that’s what I used to sign up for the offer.

 

[Dtail]

It's per account, sole/joint registration isn't going to change that - it's $1000 max bonus per account. Now, you can open multiple accounts filling each with $100k. For example, get multiple CDs to reach whatever total you want. You might open multiple 11-month no penalty CDs which are currently 2.1% for $25k or more.

If going this route, you'd need to fund each individually from outside. If you moved $200k into an Ally checking account and then bought two $100k CDs from there it's not going to work.

You might want to give them a call to verify that you can do that.

Thanks. I might have 300k to invest from outside funds. I will call them for more details.

 

[Dtail]

I think it’s per email enrollment for the bonus which has to match your accounts email. In my case, even though DH is joint, they just use my email to contact me and that’s what I used to sign up for the offer.

ok thanks.

 

[Golden sunsets]

It's per account, sole/joint registration isn't going to change that - it's $1000 max bonus per account. Now, you can open multiple accounts filling each with $100k. For example, get multiple CDs to reach whatever total you want. You might open multiple 11-month no penalty CDs which are currently 2.1% for $25k or more.

If going this route, you'd need to fund each individually from outside. If you moved $200k into an Ally checking account and then bought two $100k CDs from there it's not going to work.

You might want to give them a call to verify that you can do that.

This is not my understanding. It is per customer email address and that $100,000 can come into one account, say checking, and then be disbursed among other accounts and the person with the email address of record will get the $1,000, credited to the account that the $ was first deposited to. If two emails are registered and two $100,000 deposits are spread accross accounts a second $1,000 fee is earned.

There is a lengthy thread on this on Bogleheads. I also spoke directly with a CSR and was told it is the balance across all accounts, and not per account, but per email address.

 

[njhowie]

This is not my understanding. It is per customer email address and that $100,000 can come into one account, say checking, and then be disbursed among other accounts and the person with the email address of record will get the $1,000, credited to the account that the $ was first deposited to. If two emails are registered and two $100,000 deposits are spread accross accounts a second $1,000 fee is earned.

There is a lengthy thread on this on Bogleheads. I also spoke directly with a CSR and was told it is the balance across all accounts, and not per account, but per email address.

Ok, so you've provided the mechanism to do it...use existing account for $100k, then open additional new Ally accounts with other email addresses for each additional $100k. Plenty of places to get free email accounts set up in minutes. For an extra $1000 per account surely it's worth the effort.

 

[Golden sunsets]

Ok, so you've provided the mechanism to do it...use existing account for $100k, then open additional new Ally accounts with other email addresses for each additional $100k. Plenty of places to get free email accounts set up in minutes. For an extra $1000 per account surely it's worth the effort.

I don’t think you can open a new email account and open additional accounts in your name using your social security number.

 

[audreyh1]

All quiet now that Ally offer enrollment deadline has passed? LOL!

 

[simple girl]

All quiet now that Ally offer enrollment deadline has passed? LOL!

LOL I got in under the enrollment deadline just in time...now we'll see if I can get my $ in in time.

 

[Drake3287]

My $100,000. came from my Capital One 360 account. I wonder how many millions were transferred out of these online banks this week, many I'm sure. I wonder if come February 15 these online banks will be attempting to get these customers to return.

 

[Henry Lili]

Yeah. I imagine they might. I moved 50k from Marcus to get in on this deal.

 

[Golden sunsets]

My $100,000. came from my Capital One 360 account. I wonder how many millions were transferred out of these online banks this week, many I'm sure. I wonder if come February 15 these online banks will be attempting to get these customers to return.

Did the same thing here. $100,000 deposited to CapOne from a maturing NWFCU CD on 10/10, after receiving an email from CapOne serendipitously the same day as the CD marred. Was advised by CapOne, that the money did not need to stay in the bank in order to qualify for the $1,000 bonus. The only requirement was that the account be funded by 10/31. I am still trying to wrap my head around that fact. While waiting for that deposit to clear at CapOne, heard about the Ally bonus. Transferred the money to Ally on 10/17. It took until yesterday for that transaction to finalize and I opened a couple of No Penalty CD's. Calculated that the rate of return for that $100,000 will be about 10% for the 85 day holding period. Around the beginning of the year I'll be on the look out for another juicy offer to jump on on 1/16. LOL


Sent from my iPad using Early Retirement Forum

 

[mn54]

the ally on-line savings acct pays 1.9% but the no-penalty 11 month c/d pays 2.1%. why would you leave money in the savings acct and not put it in a c/d? Is there something I'm missing?

 

[jazz4cash]

the ally on-line savings acct pays 1.9% but the no-penalty 11 month c/d pays 2.1%. why would you leave money in the savings acct and not put it in a c/d? Is there something I'm missing?

If someone needs to take regular periodic distributions from the account the NP CD won’t work.