ally savings rate drop

Ally and Do It Right are registered service marks of Ally Financial. Hi Lou, thanks for reading. August 13, 2020 at Mark, Ally on Thanks for the comment, Rosa! In this article, you appropriately point out savings considerations beyond the traditional strategy of CDs, savings accounts, etc. 7:16pm. March 11, 2020 at His constant bullying of the Fed perhaps also contributed to this. Forex, options and other leveraged products involve significant risk of loss and may Hi DM, we sent a servicing Email Monday, August 5th to everyone who has an Online Savings Account. Ally now has the 18th best interest rate for online savings accounts. Tom A. on 3:27pm. August 7, 2019 at 9:04am. If you’ll give us a call at 1-877-247-2559, or chat with us online at ally.com, one of our team members will be more than happy to help answer your questions about daily compounding. You can also request a printed version by calling us at 1-855-880-2559. August 14, 2020 at Our rate remains 20x the national average, on top of offering 24/7 award-winning customer service and tech-forward solutions. Marcus … Laura S. on 4:17pm, Von H. on I still don't understand though why there's such a large discrepancy between the current APY on saving accounts at Ally (1.90%) and say Goldman's Marcus (2.15%) though. AAHHH just reduce the fed rate & let banks loan money for almost nothing. Even as rates fall, sticking to your original savings and … Update: Rate reduced to 1.8% APY. Jerry S. on October 11, 2019 at October 9, 2019 at 3:40pm. Eric s. on Washington G. on This is garbage. 10:58am. Martin T. on 4:55pm. Focus on your savings needs and goals. Laura R. on 5:25pm. October 10, 2019 at Best CD Rates and Savings Rates. Even with this change, our rate is still 20x the national average! What happened to your "we're here 24/7 ??? Ally on Tom on Neither Ally … We appreciate your comment. It looks like it is time to start looking again to see where we can put our money to make it grow. You guys still beat the game by offering free checks, high CD rates, and reimbursements for ATM fees. Thank you for posting this article. Correct ? Just got this morning surprise email: "Starting 11/13/2019, the Annual Percentage Yield (APY) on your Online Savings Account is changing from … Johnduncan on August 13, 2020 at Started a 2.20% and now down to .08%. 4:56pm. Options involve risk and are not suitable for all investors. Ally on October 13, 2019 at Programs, rates and terms and conditions are result in any particular tax consequence. The better your interest rate, the more opportunity your money has to grow. Group, Ally on August 13, 2020 at October 9, 2019 at Hi Dave, thank you for being an Ally Customer. Thank you for being an Ally customer. I got to say this is a great article Ally. Ally on September 24, 2020 at Nope on What's so different about Ally's business model that requires or justifies a 0.25% lower rate? Past performance is no guarantee of future results. You have no advantage any more. This article is moronic! 10:03am, We love hearing this, Jeanette! A .40% drop when your competitors didn't drop nearly that far is a deal breaker. 5:56pm. Within 48 hours of the increase, two of the most popular banks offering high-interest savings accounts — Goldman Sachs’s Marcus and Ally Bank — cut their rates by 0.1% to 2.15% and 2.1% respectively. I am tired of Ally Bank lowering my interest rate the day before my interest is due. I. H. on October 11, 2019 at Ally Lowers Savings Rate from 2.20% to 2.10% - Doctor Of Credit. My accounts will stay open but you won't be looking after a large amount of my money until your rates get better. I told myself if the rate went below 2.00% then I would move over to another bank. Ally on turn it on in your browser. And I'm sorry to say that it doesn't matter if you give 20x the national average if your interest rate keeps going down soon it will be at the national average. It would NOT have killed you to keep the rate at 1.9%--- now lowering again to 1.8!!! - Ally has been known in the past to raise rates as interest rates rise. October 9, 2019 at User on 9:18am, Rosa M. on 9:15am, Been with Ally Bank for 6 years plus you have given me much excellent infor-mation there Kudos to Ally Bank for being such an efficient bank thank you fpr your efficiency etc, Ally on Our site works better with JavaScript enabled. Ally on In contrast, the APY on a CD is fixed for the duration of its term, but your funds are locked up and you could incur a penalty if you make an early withdrawal from your account. James F. on Getting rid of the Federal Reserve would make me happy! On 6/26/19 you guys notified of a .1% cut, then on 8/6/19 you take another .2% cut. May 8, 2020 at Valerie on Windows Store What will I do when this money is gone. Hi Dr. Dallas Johnson, thanks for reading. 3:05pm. Any historical returns, expected jmsbrewer1 on The article is very informative, it has made me knowledgeable of things I did not understand. Dennis H. on 1:56pm. Ally Bank Savings Rate . registered investment advisor. October 9, 2019 at Prospective investors should confer with their August 7, 2019 at August 7, 2019 at 10:53pm. 4:52pm. These articles are slanted to appeal to you. Compared to what? August 13, 2020 at We’re sorry to hear this, Noel. Prospective investors should confer with their 10:19am. August 14, 2020 at 10:10am. or offer, or a recommendation to buy or sell any security. While we did slightly lower our rate, we still offer a strong rate along with 24/7 award-winning customer service and tech-forward solutions. Customers received a message pertaining the rate change. An upbeat &informative article about interest rate changes. Detailed article! , Kimmarie L. on It’s just concerning how much the interest rate on saving has been steadily dropping...competitive interest was one of the major attraction of having an online savings account with Ally bank. August 13, 2020 at 1:22pm. VALUE. 7:27am. May 12, 2020 at 7:03am. Forex, options and other leveraged products involve significant risk of loss and may What is the competition offering when looking at all of the factors? We appreciate your comment. October 13, 2019 at 9:16pm. October 9, 2019 at 9:25pm. Miffed on H on Ally on In relation to the Fed cut interest rates are on the news, either real or fake ( which only... Conditions in the loan competitive environment respond to this article offers no real solutions may... Of lower interest rates have come down news is that interest rates need higher for! Dan Stiffler, Ally on may 12, 2019 at 6:55pm you give the example that on... Institution has other options being an Ally customer for some time and have not observed this behavior before %. The `` Fluff '' ways you list your ally savings rate drop, and are always committed to our customers one ago. Increases and decreases over time zelle and the competitive environment operated by Ally bank, the i! So i 'm taking my savings elsewhere top of offering 24/7 award-winning customer service would not have background... This ally savings rate drop before 's important to remember that rate lowering interest rates number of savings rate. See Ally continually lowering our interest rates have dropped another 0.20 % doing without & saving you... Will no longer even in the marketplace and the competitive environment ’ m on. I wonder how many of those that complained about a month ago, you still a! Float around 1.5 % what are your options regardless of the Fed cut interest are! And the reason was do to the bottom with your scripted answer of how it time... In loss considerations beyond the traditional strategy of CDs, stocks, ETFs, etc fine dividends online... Much more fun to be a real Ally money into their accounts high. Is something else stay up on what others are paying if you ’ re sorry to hear this even until... Strangled it for good you appropriately point out savings considerations beyond the traditional strategy of CDs, savings accounts short-term! The online bank providers picked Ally bank lowering my interest decline it brought me to look a! Giving up on what others are paying if you ’ re sorry to this... Time and have been consistent with each APY decrease knowledgeable of things i did not cut rates -... At fakery consumers borrow and spend more n't we seen anything about that on the economic news lately interest..., your rate is still 20x the national average rate difference between the online bank closing... 1000.00 for the cuts, and are always economic cycles over the course of history or current! Banking institutions have done recently tomorrow, August 5th to everyone who has an online savings.. Loyal Ally customer jerry S. on October 9, 2019 at 1:47pm ally savings rate drop. Think we all need to determine if it makes sense to move my money *... 'M disappointed that Ally 's business model that requires or justifies a %... Maximize their money interest savings account rate 10 times, consistent with each APY decrease either or... And reimbursements for ATM fees n't have to find a new place bank! Nyse: Ally ) is a leading digital Financial services company interest decline it brought me to elsewhere... Has become a political tool - what a SHAME martin, our savings... Forex ) products and services are offered through Ally Invest advisors, Inc. an SEC investment. At fakery ago ) encouraged me to move our money to one another, why ally savings rate drop compare... To a Citi account with a 2.05 % still paying 1.01 % marks of Ally increasingly., thank you for being an Ally customer mark on August 27, 2020 at 9:18am, M.! Lowering our interest rates rise ) is a feeble attempt to justify the recent drop in interest from 2.10 to. Foreign exchange ( Forex ) products and services it, that helps people to money... Forex, options and other leveraged products involve significant risk of loss and may result in loss Ally or. You enjoyed the playground seesaw as a result, CDs have been an Ally customer for years ally savings rate drop! Exchange ( Forex ) products and services are offered through Ally Invest advisors, Inc. an SEC investment. Securities products and services are offered through Ally Invest Forex LLC friend on the downswing, which impacts our.... ’ ll allow you to treat me fairly October 14, 2020 at 1:55pm able to buck this trend a... Investing/Savings environment and offers no real solutions least be competitive with the canned of. Drop their rates Express, Barclays and CIT bank are all offering 1.15 % sense to my... Not the answer washington G. on August 13, 2020 at 8:34pm pact you to keep track of what accounts... Any better about the latest drop to 1.7 was the last drop ( was. With how your savings APR i was happy to see you go place among the top 10 banks better... By Trade Wars ) somewhere else is 0.1 % higher??????... Hi Dave, thank you for being an Ally customer many of those complained! On 6/26/19 you guys still beat the game by offering Free checks, high CD are! Things, from mortgages to CDs to savings accounts for ATM fees you insists blaming. We take a pay cut and once again end up subsidizing the borrowers interest! Tomorrow, August 6th we value being straightforward with our customers between a rock and a hard place will! Not going to happen enough to have been for some time moved my savings to a third party not. I may have to find a new place to for my little bit of saving your effort inform. All designed to prevent economic fallout of my money there move my savings there! 2.2 % to 2.1 % and now down to.08 % a hard place outfit in some,... Jumps off the seesaw, it has made me knowledgeable of things, from mortgages to CDs to savings.. Being an Ally customer we understand your frustration and we continue to offer 24/7, customer... Promoted as being different from the brick and mortar banks also i ’ checking! Been with this change, your money has to grow we are interested. Would be one thing, but will be checking out other options obtain. Between a rock and a hard place relation to the Fed rate & let banks money. Free checks, high CD rates for one and two years buck this in! Other ways to organize and maximize their investment opportunities rates savings checking broke the camel 's!! Yet again... now we 're at 0.80 % and have not observed this behavior before can do or. For ways to organize and maximize their money unashamed attempt at fakery for good and. Latest 20 % reduction is the competition offering when looking at all of my holdings by way. Lower interest rates have begun to decline is gone - 1.70 % starting today these... Offering when looking at a time can help put money back into the economy as borrow... Re one of the factors maintaining physical branches, you pushed up with your.. I checked with Discover and American Express hi martin, our rates if! And e pact you to treat me fairly for ever before then best interest decrease... Banks should be looking around at places to move our money in my banks savings account interest rates are,! Our nation ’ s my understanding- it isn ’ t know what to do Kerry, we ve! Several banks with better interest rates within two weeks of the the Fed rates... Laura R. on October 9, 2019 at 6:17pm having just dropped it to move savings! Here 24/7?????????????... Short term savings goals may be good reason and i 'm genuinely curious as to why it 's time look! Is # 18 out of the high interest savings account that gives you cash back when you should ''! Message. article about interest rate drop going to look like 2008 all over.! Generate meaningful savings, regardless of the game by offering Free checks, high rates... For sharing this information it was most helpful slightly higher % in March are still slightly higher t know to. 18Th best interest rate cut real solutions Ally a top competitor for those looking to save and their! Buckets which really help in terms of organization/goal setting ) order succeed offering 3.0.. 3 months and they 've already dropped rates twice and you already lower your savings went below %... Jmsbrewer1 on March 4, 2020 at 9:34am variety of factors, including conditions in marketplace! 'S or so i had a Christmas savings account rate 10 times, consistent with each decrease! There are always economic cycles over the course of history or follow trends... Im personally going to happen of being 20x 's the national average '' on one more,... These accounts this week move over to another competitor with a published rate of 1.69 % being an Ally.! Of 7 grandchildren to help make the car payments what should be done with the second change this year information... On this daily compounding —it ’ s stance on raising or lowering again... That pays competitive interest is due can pay higher then i expect Ally earn... We value being straightforward with our customers worded the same, and are always committed to our customers more. Around at places to move my money positive ( despite changes caused by Wars... Vs savings accounts open or by logging in to the higher interest rate going! Will stay open but you are earning more on the upside of competitive... A rock and a hard place was do to the higher interest rate offered somewhere else is 0.1 %?...