J.D. over at Get Rich Slowly published an article Tuesday about online banks. There are a lot of options! Currently we have all our savings, except for Short Term Savings, at ING Direct. I’ve been very happy with ING but their interest rate as of late has suffered in comparison to some of the other online banks. I’ve never been one to rate chase. I’m much too lazy for that. I prefer to just stick my money in savings and then ignore it and let it grow. However, I’m considering starting an account at Ally Bank. Their interest rate is over 2% right now with no minimums and they are FDIC insured.
In reading through the comments on J.D.’s post, it sounds like Ally Bank may not have the best customer service or that their account opening requirements may be hard to work through but that people haven’t had many problems with their accounts once open. And one commenter even noted that he has his ING account and Ally account linked so he can move money back and forth. Hmm, maybe that would be a nice option, especially if I could link both to my main checking account? Make moving the money not labor intensive? Easy for us lazy savers?
Anybody have any other experience with Ally? Are you considering moving your savings around?
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- Cynthia
- I'm married (to Chuck), a mother (to Anya - 4 and Jamison - 2) and was in debt. Come cheer me on, give me advice and follow my journey as I keep my family out of debt and pursue our goals and dreams. E-mail Me
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3 comments:
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I'm a bit like you, too. I am too lazy to switch banks and chase rates. I've been with ING and happy with the service they've given me. It's a low maintenance account but I'm open to looking for others. In this economy, there's no insurance for getting the same rates we did even a year ago. I think I'm just going to stick with ING because I'm happy with them. If it gets too low it may lead me to look elsewhere but for now, I'm set.
Jerry
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