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Old 12-30-2017, 05:29 AM   #121
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Originally Posted by SheitlQueen View Post
So I opened an account with Ally today for this promotion, but the money won't be transferred to the account until Jan 3, the day after the promotion ends. Tried to call Ally to get answer to my question, but got tired of being on hold.
Does anyone know if the CD is in effect even though not funded and won't be until Jan 3? Or does it not start until there is money in the account, which will be the day after the promotion ends? Tried to cancel the money transfer when I found out it would be received a day late, but unable to do it online and long hold time on the phone. I hate to go into a CD not knowing what the rate is.

I believe Ally guarantees the rate as long as the CD is funded within 10 days.


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Old 12-30-2017, 07:38 AM   #122
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Just want to drop a Big Thanks to everyone participating here. The 2% CD notice was a nice surprise and I went for it this morning. I'm already an account holder there, but can't keep up with their promos.
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Old 12-30-2017, 10:47 AM   #123
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Originally Posted by Golden sunsets View Post
I believe Ally guarantees the rate as long as the CD is funded within 10 days.
Thank you! That's what I needed to know.
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Old 12-31-2017, 03:18 PM   #124
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I just upgraded my existing 11 month no penalty CDs to 1.75%. It was easy.

But then I forgot about the 6 withdrawal limit on the savings account. Oops - I had planned to buy two more, but I can't do transfer more out of my high yield savings account until after Jan 15.

We'll see what rate they and other folks offer after Jan 2nd. I'm not sure I'm willing to jump through the hoops to mail in checks for a couple more while I'm traveling. But I could. Still have a couple of days to think about it.

I really do like the no penalty CDs.
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Old 01-02-2018, 06:50 AM   #125
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Alliant Credit Union savings account now 1.30%.
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Old 01-02-2018, 07:11 AM   #126
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We just opened a 1.65% 15 month CD at Legacy bank here in Dallas...
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Old 01-02-2018, 08:01 AM   #127
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Originally Posted by audreyh1 View Post
I just upgraded my existing 11 month no penalty CDs to 1.75%. It was easy.
+1

I actually remembered the limit on savings account transactions (amazing when I remember anything). I have a checking account at Ally so I was able to use that as a place to park money while selling and buying CDs. Iím sitting on some inherited cash I plan to use for a new house if we can ever find one we like.

As you say, it was a very easy process to close and open these accounts.
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Old 01-02-2018, 08:13 AM   #128
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+1

I actually remembered the limit on savings account transactions (amazing when I remember anything). I have a checking account at Ally so I was able to use that as a place to park money while selling and buying CDs. Iím sitting on some inherited cash I plan to use for a new house if we can ever find one we like.

As you say, it was a very easy process to close and open these accounts.
Yeah - I'm considering opening a checking account at Ally for just this reason.
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Old 01-02-2018, 09:16 PM   #129
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I opened several Ally online accounts so I can make up to 6 withdrawals times as many accounts I have.
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Old 01-02-2018, 09:50 PM   #130
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Originally Posted by audreyh1 View Post
I just upgraded my existing 11 month no penalty CDs to 1.75%. It was easy.

But then I forgot about the 6 withdrawal limit on the savings account. Oops - I had planned to buy two more, but I can't do transfer more out of my high yield savings account until after Jan 15.

We'll see what rate they and other folks offer after Jan 2nd. I'm not sure I'm willing to jump through the hoops to mail in checks for a couple more while I'm traveling. But I could. Still have a couple of days to think about it.

I really do like the no penalty CDs.
Well I did buy the additional two, using a savings account from another institution, so it will take a few days to fund.
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Old 01-02-2018, 10:19 PM   #131
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I bought another one this morning, funding it from the savings account. Nothing else is competitive.
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Old 01-02-2018, 10:30 PM   #132
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Goldman Sachs (now Marcus) bank just raised our savings acct rate to 1.4%.
That's not much less than the CD rates I'm seeing quoted here, but without any lock up of funds.
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Old 01-03-2018, 06:38 AM   #133
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Ally Bank CD specials have apparently ended.

11 month No Penalty CD = 1.60%
12 month CD = 1.70 %
2yr Raise your rate CD = 1.75%
Savings Account = 1.25%
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Ally raises savings APY to 1.15%
Old 01-03-2018, 07:02 AM   #134
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Ally raises savings APY to 1.15%

I ended up with 5 no penalty 11mo CD's, two hy savings accounts and 1 checking account with Ally. I had to do two global lifts with Transunion for the Ch ac and savings ac's. I was able to do the lifts on line and at no cost. Easy peasy. The CD's finally funded yesterday on the 10th day after opening the CD's and the last day of the higher CD rates. Also opened two 11 mo CD's, one 1yr 2% CD and one savings account for Mom, also finally funded yesterday.

Phew😬


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Old 01-03-2018, 07:09 AM   #135
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They haven't finished my transfers to fund my Dec 31 opened Ally Bank CDs. I won't see the 1.75% until they do. Should just take another day. I already received an email early yesterday saying
Quote:
Your initial deposit has been processed to fund your new Ally account and should be available to view in your account within 3 business days. Interest begins to accrue on your deposit on the business day on which it posts to your account.
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Old 01-03-2018, 08:01 AM   #136
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Discover Bank savings rate is now 1.3%
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Old 01-04-2018, 09:30 AM   #137
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Ally lets you buy the cd, and then fund it directly, even by check .
This didn't affect me as I already has the money at Ally, but I would figure what you buy is what you get.
Like how you buy stocks at a brokerage, and then within 2 days bring them the money.

After I bought a CD the first time, they sent me this email, note when they refer to the Ally account, it's the CD as each CD is has it's own "account" number.

"We're excited you chose Ally Bank.

What happens next:
You'll receive a Welcome Kit in the mail soon including information about your new account.

There are many ways to make your first deposit. Choose the option that works best for you:
  • Online: Once you log in to ally.com, select Transfers. You can choose to transfer money from one of your accounts at another institution or from an existing Ally account.
  • Using Ally eCheck DepositSM:
    • On your mobile device: Take a picture of your check using the Ally Mobile Banking app.
    • Using your computer: Scan and submit the image of your check through Ally Online Banking.
  • By phone: Call us at 877-247-ALLY (2559) and we'll walk you through it. We're here 24/7.
  • By mail: Make sure the check is endorsed and made payable to you. You should also write "For Deposit only" along with your account number on the back.

    Mail to:
    Ally Bank
    PO Box 13625
    Philadelphia, PA 19101-3625
When you open a CD with us, you get the Ally Ten Day Best Rate Guarantee. When you fund your CD within 10 days of your open date, you'll get the best rate we offer for your term and balance tier if our rate goes up within that time. The Ally Ten Day Best Rate Guarantee will also automatically apply at renewal."
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Originally Posted by Golden sunsets View Post
I believe Ally guarantees the rate as long as the CD is funded within 10 days.


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Well so far I didn't get the 1.75% on my new CDs. I got the 1.60% rate.

I opened the CDs on Dec 31. I got an email that "Your initial deposit has been processed to fund your new Ally account" early on Jan 2. Today they are showing the transfer occurred on Jan 4 and the rate at 1.60%.

I'm still within the 10 day initial opening period, so I don't know if some resolution will occur. I've sent a secure email asking why I didn't get the 1.75% rate since I opened it before the deadline, and the funding had processed the day of the deadline according to my email quoted above.

Still it's the best rate on what is essential a high yield account as I can withdraw the funds at any time after the initial 6 days with no penalty. If rates rise I can move the money somewhere else.

Most places I have dealt with give you the offered rate based on when you open the CD even if it takes a few days to fund it.

We'll see what happens.
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Old 01-04-2018, 10:04 AM   #138
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I logged on right before year end to do the %2 CD, and I noticed their wait queue was outrageous. Usually, it is 1 min or less. It was something like 60+ minutes that day.

So, I suspect they got slammed and it may take a while to get your answer. I'm pretty sure they'll make it right.
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Old 01-04-2018, 10:09 PM   #139
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Quote:
Originally Posted by audreyh1 View Post

Well so far I didn't get the 1.75% on my new CDs. I got the 1.60% rate.

I opened the CDs on Dec 31. I got an email that "Your initial deposit has been processed to fund your new Ally account" early on Jan 2. Today they are showing the transfer occurred on Jan 4 and the rate at 1.60%.

I'm still within the 10 day initial opening period, so I don't know if some resolution will occur. I've sent a secure email asking why I didn't get the 1.75% rate since I opened it before the deadline, and the funding had processed the day of the deadline according to my email quoted above.

Most places I have dealt with give you the offered rate based on when you open the CD even if it takes a few days to fund it
I'm in the same boat. I opened the last of my 11-mo CDs on Dec 31, I got the "funding in process" email on Jan 1 (the day before the deadline), and it funded today, Jan 4. It shows an interest rate of 1.60% while the other 11-mo CDs I opened prior to Dec 31 show 1.75%.

Hopefully it's just a glitch and they'll make it right.

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We'll see what happens.
Please let us know what you hear from Ally.
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Old 01-04-2018, 10:31 PM   #140
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I'm in the same boat. I opened the last of my 11-mo CDs on Dec 31, I got the "funding in process" email on Jan 1 (the day before the deadline), and it funded today, Jan 4. It shows an interest rate of 1.60% while the other 11-mo CDs I opened prior to Dec 31 show 1.75%.

Hopefully it's just a glitch and they'll make it right.



Please let us know what you hear from Ally.
No guarantees here, but our experiences may be of some assurance. We converted 4 CDs to 1.6% offer about the day before the 1.75% was announced.
At the 10 day anniversary, we got an email announcing the original 1.6 CDs had been converted to 1.75% YMMV
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