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10-12-2022, 08:33 PM
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#21
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,007
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Thanks for doing the math!
__________________
Retired since summer 1999.
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10-12-2022, 10:52 PM
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#22
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Recycles dryer sheets
Join Date: Feb 2021
Posts: 85
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Quote:
Originally Posted by jim584672
Hmm...
Money in by 10/31/22 through 1/15/22 = 76 days = 0.208219 of a year.
1% in 0.208219 of a year so 4.802%, not counting the interest earned in 76 days.
2.25% * 0.208219 = 0.4684% + 4.802% = 5.27% including interest and bonus.
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Agree, I used 75 days and didn't include the 2.25% interest earned.
Thanks...
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10-13-2022, 11:25 AM
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#23
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2004
Location: South Texas~29N/98W Just West of Woman Hollering Creek
Posts: 6,671
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Quote:
Originally Posted by jim584672
Hmm...
Money in by 10/31/22 through 1/15/22 = 76 days = 0.208219 of a year.
1% in 0.208219 of a year so 4.802%, not counting the interest earned in 76 days.
2.25% * 0.208219 = 0.4684% + 4.802% = 5.27% including interest and bonus.
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Thanks Jim. I did not know how to accurately calculate this but I figured it is probably worth a shot. Thanks to you I now know it is worth it.
I recently moved a bunch of cash from my Ally savings account to VG CRFMMF (2.84% vs 2.25%) but left a bit @ Ally; so my account is still active. I think I'm jumping in for 76 days. There is also a chance that the 2.25% interest rate may increase over that time.
Ally must be cash-short. They have been running full page ads in WSJ about this deal.
__________________
Part-Owner of Texas
Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx
In dire need of: faster horses, younger woman, older whiskey, more money.
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10-13-2022, 12:49 PM
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#24
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Thinks s/he gets paid by the post
Join Date: Oct 2015
Posts: 2,307
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I just signed up for the Ally deal. Took me some time to find the link for the signup, so here is the original post by XLF11 in the other thread, just in case anyone is interested.
"Ally just has an additional 1% (upto $500) offer for both new and existing Saving and MM accounts for holding new money for 2.5 months:"
https://www.ally.com/customer-getpaid?CP=EML400002851
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10-13-2022, 01:03 PM
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#25
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Thinks s/he gets paid by the post
Join Date: Aug 2011
Posts: 3,594
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Does anyone worry that they will use the information that you are able to come up with large sums of cash quickly, to classify you as a potential high value client and market this information to others?
The fact that they are only requiring you to let them hold the funds for a few weeks suggests to me that something more may be at play here.
-gauss
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10-13-2022, 01:17 PM
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#26
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Thinks s/he gets paid by the post
Join Date: Oct 2015
Posts: 2,307
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Quote:
Originally Posted by gauss
Does anyone worry that they will use the information that you are able to come up with large sums of cash quickly, to classify you as a potential high value client and market this information to others?
The fact that they are only requiring you to let them hold the funds for a few weeks suggests to me that something more may be at play here.
-gauss
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That may be true. I'll post back next Spring if I notice anything. That said, I have had an Ally account for many years, with balances ranging from a few hundred to a few hundred thousand dollars and I have never experienced any aggressive marketing tactics from them. Of course, they could just sell the data to third parties, I suppose, and I would never know.
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10-13-2022, 01:27 PM
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#27
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Recycles dryer sheets
Join Date: Dec 2021
Posts: 156
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I tried but failed in attempting to open an account today with Ally.
Difficulty making it joint, difficulty because had accounts from a long time ago, difficult because of previous online access...Went on to chat and the wait time was 4 hours or more. Dashboard said customer service call center wait time was 1 minute but when I called and made it thru the phone prompts was told a 20 minute wait.
Perhaps this one is not for me.
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10-13-2022, 02:21 PM
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#28
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Full time employment: Posting here.
Join Date: Sep 2007
Location: mpls, mn
Posts: 763
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can you and spouse open seperate accounts and each get up to 500 bonus?
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10-13-2022, 02:55 PM
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#29
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Recycles dryer sheets
Join Date: Dec 2021
Posts: 156
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I'm sure you could but thinking Ally is not for me based on my frustrating experiences earlier today.
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10-13-2022, 03:20 PM
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#30
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Recycles dryer sheets
Join Date: Sep 2021
Posts: 195
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You can also open your own single account and fill up a joint account form later through account service...
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10-13-2022, 04:32 PM
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#31
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Recycles dryer sheets
Join Date: Feb 2021
Posts: 85
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Per the FAQs and customer rep, my existing joint Ally savings account is excluded from the offer since it is "owned by a trust" even though DW and I are the trustee's (TTEE). I might try to enroll anyways to see if the process flags the account as excluded.
The other option is to open a new account....
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10-13-2022, 04:55 PM
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#32
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Thinks s/he gets paid by the post
Join Date: Feb 2011
Location: central California
Posts: 1,134
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I have an existing Ally savings account, so I decided to enroll in the offer. I rationalized that the $500 bonus was enough to pay for all of my streaming services for the year: Amazon Prime, Disney plus, HBO Max, Tidal music, and the promo price for Hulu.
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10-13-2022, 04:57 PM
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#33
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,007
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What are you paying for Disney plus?
__________________
Retired since summer 1999.
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10-13-2022, 09:00 PM
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#34
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Thinks s/he gets paid by the post
Join Date: Feb 2011
Location: central California
Posts: 1,134
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Quote:
Originally Posted by audreyh1
What are you paying for Disney plus?
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My current annual prepaid sub is $79.99, but the next annual payment due next spring is $109.99.
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10-13-2022, 09:20 PM
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#35
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,007
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Thanks! I was just curious.
I had a great 6 month deal through Amex where they reimbursed $13.99 a month so I just ended up paying the sales tax (<$2), but I didn’t want to continue at that price. This bundle included Hulu (with commercials) and ESPN which I don’t watch.
__________________
Retired since summer 1999.
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10-14-2022, 10:04 AM
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#36
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Moderator Emeritus
Join Date: Apr 2011
Location: Conroe, Texas
Posts: 18,645
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I have been trying to link my brokerage account for a draw of funds to Ally for two days now and every time I put in the data (account no., etc), I get an error message saying try later. After being on hold this morning for two hours with Ally, the rep said, "keep trying".
My brokerage account is already linked to PULL money from Ally but not the reverse.
Looks like I'll be passing on this deal unless the Ally servers cool down!
__________________
*********Go Astros!*********
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10-14-2022, 11:03 AM
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#37
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Thinks s/he gets paid by the post
Join Date: Feb 2011
Location: central California
Posts: 1,134
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Quote:
Originally Posted by aja8888
every time I put in the data (account no., etc), I get an error message saying try later.
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I have my bank checking account as the hub where all brokerage funds transact through. It does mean it takes longer—cash moves from one brokerage into the checking account, then a 2nd transaction to move cash into Ally. But it’s always smooth, never an error message.
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10-14-2022, 11:05 AM
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#38
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 17,010
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Quote:
Originally Posted by aja8888
I have been trying to link my brokerage account for a draw of funds to Ally for two days now and every time I put in the data (account no., etc), I get an error message saying try later. After being on hold this morning for two hours with Ally, the rep said, "keep trying".
My brokerage account is already linked to PULL money from Ally but not the reverse.
Looks like I'll be passing on this deal unless the Ally servers cool down!
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I wonder if it's because it's NOT a checking account. Move your brokerage money into a checking account and try.
__________________
Fortune favors the prepared mind. ... Louis Pasteur
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10-14-2022, 11:32 AM
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#39
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Moderator Emeritus
Join Date: Apr 2011
Location: Conroe, Texas
Posts: 18,645
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Quote:
Originally Posted by Sunset
I wonder if it's because it's NOT a checking account. Move your brokerage money into a checking account and try.
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I don't think I would have enough time to set up a checking account to deposit funds into from my brokerage account and then set up Ally to pull from that. Both of those actions would probably take a few days, at least. And the funds push from one and pull from the other would take a week at least. The deal is over next Friday.
Ally has the ability to to work with outside brokerage accounts as mine is set up to pull FROM Ally. Ally's jammed up servers are the issue.
__________________
*********Go Astros!*********
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10-14-2022, 12:54 PM
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#40
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Recycles dryer sheets
Join Date: Feb 2021
Posts: 85
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Does Ally track the new money entering the account separately? If I have 20K in the account then enroll and add 50K by 10/31, 70K total, can I transfer funds in/out of the account at will as long as the balance stays above 50K through 1/15/23 to get the 500 bonus?
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