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Old 03-13-2020, 04:25 PM   #181
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Too late now, but you could've opened new CD's at Ally this week, but not funded them (as a hedge in case the rates dropped before Monday). It's nice Ally gives you 10 days to fund CD's once opened, and the rate is guaranteed for that period. If you end up not funding them, the unfunded CD accounts just close and disappear in a couple of months. Yes, you would've lost the rollover bonus, but it looks like you would've been slightly ahead given the rate drop.
Well, I could have. I was just hoping the rollover would happen before they made changes and I would get the rollover loyalty bonus as well. It's not that big of a deal. I already have some of the other no penalty CDs and had only recently decided to roll over these maturing ones instead of removing the cash.

I was very, very close.

I'll probably just take their cash bonus deal for compensation. It's worth more than the difference.
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Old 03-13-2020, 04:27 PM   #182
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Locked in 3 new CD's at Ally for the 1.90% 2 days ago, but lost out by 1 day getting a 5 yr 2.15% CD.
Timing is everything.
I had locked in several 1.9% no penalty CDs last month. I just recently (after the Fed emergency rate cut) decided to roll over two maturing CDs to more no-penalty CDs and try to catch the loyalty bonus.
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Old 03-13-2020, 04:42 PM   #183
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I'll probably just take their cash bonus deal for compensation. It's worth more than the difference.
You won't be eligible for the 1% bonus deal, since that's only for "new" money coming into Ally.

"We’ll calculate your cash bonus based on new money moved to your account during the funding period, minus any withdrawals you make during that time. Funds deposited after 3/31/20 will not be eligible for the bonus. Your net new deposits must remain in your eligible account continuously through 6/30/20. Keep in mind, transferring funds out of Ally Bank and then back in won’t increase your bonus amount. We’ll round your cash bonus payout amount up to the nearest dollar."

See https://www.ally.com/go/bank/bonus/?...400001690#faqs for more info.
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Old 03-13-2020, 05:36 PM   #184
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You won't be eligible for the 1% bonus deal, since that's only for "new" money coming into Ally.

"We’ll calculate your cash bonus based on new money moved to your account during the funding period, minus any withdrawals you make during that time. Funds deposited after 3/31/20 will not be eligible for the bonus. Your net new deposits must remain in your eligible account continuously through 6/30/20. Keep in mind, transferring funds out of Ally Bank and then back in won’t increase your bonus amount. We’ll round your cash bonus payout amount up to the nearest dollar."

See https://www.ally.com/go/bank/bonus/?...400001690#faqs for more info.
Yes I will. I just have to bring over another $25K.
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Old 03-13-2020, 06:41 PM   #185
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You won't be eligible for the 1% bonus deal, since that's only for "new" money coming into Ally.

"We’ll calculate your cash bonus based on new money moved to your account during the funding period, minus any withdrawals you make during that time. Funds deposited after 3/31/20 will not be eligible for the bonus. Your net new deposits must remain in your eligible account continuously through 6/30/20. Keep in mind, transferring funds out of Ally Bank and then back in won’t increase your bonus amount. We’ll round your cash bonus payout amount up to the nearest dollar."

See https://www.ally.com/go/bank/bonus/?...400001690#faqs for more info.
I have some monies coming in from Simple Bank.
While the above statement is true, if one increases their monies from the outside, but in my case, I take monthly withdrawals for living expenses out of the same account, the rep confirmed that I can use an existing separate Ally account to effectively replace my disbursements out of Ally, so I am whole at 06/30 in my "bonus" account and receive the full bonus, even though my total Ally balances went down by 06/30.
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Old 03-13-2020, 07:11 PM   #186
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I have some monies coming in from Simple Bank.
While the above statement is true, if one increases their monies from the outside, but in my case, I take monthly withdrawals for living expenses out of the same account, the rep confirmed that I can use an existing separate Ally account to effectively replace my disbursements out of Ally, so I am whole at 06/30 in my "bonus" account and receive the full bonus, even though my total Ally balances went down by 06/30.
In my limited experience, ally's reps sometimes give incorrect information.

I'd trust more the written details, than what's verbalized from a phone rep. Though if you discuss via their chat, you can get the chat discussion emailed to yourself, so you could at least argue the point later if it turns out to be inaccurate.
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Old 03-15-2020, 10:19 PM   #187
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0% should be interesting.....going forward...............
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Old 03-16-2020, 01:53 AM   #188
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We've been there before. MM and savings yields go to 0.01%. Lock in to whatever you can and are willing to sign up for while it's still available.
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Old 03-16-2020, 05:20 AM   #189
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We've been there before. MM and savings yields go to 0.01%. Lock in to whatever you can and are willing to sign up for while it's still available.
Yes, fortunately I had done a bunch in Jan, and then sped up one right after the first Fed rate cut plus set up a rollover.

My Ally CDs rollover today. They just dropped their no penalty rate slightly 2 business days ago, so hopefully I get in under the wire. I think chances are good* - knocking on wood.

* They are still showing the 1.75% rate for $25K min on their website.
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Old 03-16-2020, 05:23 AM   #190
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For my parents, I am calling Synovus today and if the rates still hold, I will cancel their 18 month 200k 2% Ally CD and switch it to the Synovus 3.56% 5 yr CD.
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Old 03-16-2020, 06:31 AM   #191
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Let us know how that works out for you.
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Old 03-16-2020, 01:10 PM   #192
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For my parents, I am calling Synovus today and if the rates still hold, I will cancel their 18 month 200k 2% Ally CD and switch it to the Synovus 3.56% 5 yr CD.
3.56%, really?
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Old 03-16-2020, 01:15 PM   #193
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Well, if you are looking at a jumbo CD, these guys have very good rates:
[mod edit: scam site]

9-Month No Penalty 3.2% for $500,000 minimum
12-Month No Penalty 3.04% for $200,000 minimum

15-60 Months $200k-$500k for 3.14%-3.56%

It is through Synovus and they are well known.
Got my application sent in. Tomorrow I should be able to be approved and transfer the money. I'm going with the 12 month No Penalty for $250K. As of today the rate is 3.04%. Thanks for the heads up.

I'm already banking with Synovus, but they said I could do a wire transfer from my account even thought it says new money. This is going to definitely make up for my Ally CD maturing and going from 3% to 1.75%.
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Old 03-16-2020, 01:29 PM   #194
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got my application sent in. Tomorrow i should be able to be approved and transfer the money. I'm going with the 12 month no penalty for $250k. As of today the rate is 3.04%. Thanks for the heads up.

I'm already banking with synovus, but they said i could do a wire transfer from my account even thought it says new money. This is going to definitely make up for my ally cd maturing and going from 3% to 1.75%.
AWESOME!!!

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Old 03-16-2020, 02:35 PM   #195
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3.56%, really?
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Let us know how that works out for you.
Yep 3.56%. Thanks to njhowie again. Just opened it up today. The only catch is the minimum of 200k deposit.
Looking into whether I could move funds around to do more.

Please note that the rep stated that the 5 year rate for example will change possibly ~30 basis points lower within 2 or so days.
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Old 03-16-2020, 02:37 PM   #196
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Got my application sent in. Tomorrow I should be able to be approved and transfer the money. I'm going with the 12 month No Penalty for $250K. As of today the rate is 3.04%. Thanks for the heads up.

I'm already banking with Synovus, but they said I could do a wire transfer from my account even thought it says new money. This is going to definitely make up for my Ally CD maturing and going from 3% to 1.75%.
Tremendous. As a side minor point, doesn't the FDIC insurance only cover 250k, so your interest would not be covered? Again a minor point.
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Old 03-16-2020, 02:42 PM   #197
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Yep 3.56%. Thanks to njhowie again. Just opened it up today. The only catch is the minimum of 200k deposit.
Looking into whether I could move funds around to do more.

Please note that the rep stated that the 5 year rate for example will change possibly ~30 basis points lower within 2 or so days.
Congrats! Great job!
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Old 03-16-2020, 06:59 PM   #198
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yep 3.56%.
WOW !
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Old 03-16-2020, 08:16 PM   #199
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Tremendous. As a side minor point, doesn't the FDIC insurance only cover 250k, so your interest would not be covered? Again a minor point.
I set it up as a joint account, which gives us $500K FDIC coverage. We've got a business checking account that has much more than $250K in it, but I can move whatever is left after the CD into our savings account, so I can have $1M in Synovus accounts while still being covered. At least according to what the rep told me today.
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Old 03-17-2020, 11:23 AM   #200
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Well, if you are looking at a jumbo CD, these guys have very good rates:
[mod edit - removed link, appears it was a scam]

9-Month No Penalty 3.2% for $500,000 minimum
12-Month No Penalty 3.04% for $200,000 minimum

15-60 Months $200k-$500k for 3.14%-3.56%

It is through Synovus and they are well known.
ATTENTION THIS IS A FRAUD DEAL

I just walked into a Synovus Bank coz something the clearing info worried me about this whole deal.
They did not know anything about this deal and looked up my rep Mark Guntle. He does not work for Synovus.
The Apex Clearing firm is a fraud firm.
Harley - will send you a PM.
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