Financial Tip of the Week #3 – My Bank Still Kicks Butt
I’m not going to lie to any of you: it’s weird how much I love my bank.
I’ve been with Ally Bank for over 7 years now, and I have absolutely loved every last minute of it. Today I’m going to explain to you why pretty much every other bank sucks, and why Ally rules.
Please keep in mind as I’m going through my points: I have received exactly $0.00 from Ally to write this article or promote their products. To be frank, I just love what they’ve got going on so much, I can’t stop talking about them…
… even 7 years later.
Why my bank rocks
Ally.com is strictly an online bank, which means you cannot just go visit it any time you like. You’d think that this would pose a problem, and if you’re older than 40, it might. But seeing as us young whipper snappers are all about doing stuff online these days, I would say that the fact that Ally is strictly online is the bomb.com. Here’s why Ally rocks:
- Their rates – My savings account just got bumped up to 1.15%. Yes, I put the decimal in the right place. Most banks don’t even come close to breaking 1% on their savings accounts, and that’s even with huge ($10,000) balances. Oh, and the checking accounts at Ally? No fees, AND they pay you 0.4% on your money. Try finding a checking account that actually pays you interest. Go ahead, I’ll wait…
- Their customer service – Just want to chat with an associate? Not a problem, they’ve got you covered. Want to actually speak to a human as opposed to an overly-polite robot? They do that too. And EVERY time I’ve gotten someone on the phone, they have literally been the kindest people I’ve ever spoken to through customer service. When I told them I just moved to a new state and I was feeling overwhelmed, the woman on the line was so nice to me it was like she was baking me cookies over the phone.
- No Fees – Guys. No fees. None. No overdraft, they just pull from your savings. No foreign transaction fees, they just apply the exchange rate and you’re golden. No… well, I don’t even know what other fees other banks charge (and I ain’t about to find out). But I’ve never been charged a fee by this bank. Ever.
- Depositing checks – Is as easy as snapping a couple photos. I know of other banks that offer this, but when it’s an online bank, it’s essential. And it works perfectly.
- Works just like every other bank – You can direct deposit. They have routing numbers. You get free checks. You can do online transfers. The ONLY difference between Ally and a traditional bank is that you can only do 6 online transfers a month from your savings account. I’ve never had to use more than 3; just make sure you’re finances are planned out well. 🙂
Why not try out other banks?
I’m sure that there are other banks out there that have better rates. Maybe not significantly higher, but perhaps 0.1% higher or so. And I’m not saying those are bad banks inherently; I’m sure their just fine. But Ally has done such a great job making sure that they always put customers first, both in terms of their products AND how the customer is treated, that I’m not willing to move all my money over for the sake of 0.1%.
So if you’re not happy with your big bank and you’re looking for a change, head on over to Ally.com. Their products are killer, they’re customer service is the best in the biz, and so easy to use a caveman could do it.
…wait, I’m probably not allowed to say that. GEICO, please don’t sue…
Keep trying to crack the code,
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