Should I switch to Ally checking?
-
- Posts: 675
- Joined: Sun Apr 03, 2011 9:08 pm
Should I switch to Ally checking?
I have a personal checking account and business checking account with Chase. I live outside of the US so Chase charges 3% on all of my ATM withdrawals which gets annoying. Ally only charges 1% so I'm thinking of opening a personal checking account with them. My average balance is about $2k so the interest would be negligible.
Do any banks charge less than 1% on international ATM withdrawals?
Do any banks reimburse ATM fees outside of the US?
For anyone who's used it from any bank, how well does mobile check deposit work? I think it amounts to emailing them a photo of a check you want to deposit?
I suppose it's impossible to deposit cash into an Ally account?
I've read that Ally will close your account if you try to use it for business. Can anyone recommend a good business checking account or should I stick with Chase there?
Do any banks charge less than 1% on international ATM withdrawals?
Do any banks reimburse ATM fees outside of the US?
For anyone who's used it from any bank, how well does mobile check deposit work? I think it amounts to emailing them a photo of a check you want to deposit?
I suppose it's impossible to deposit cash into an Ally account?
I've read that Ally will close your account if you try to use it for business. Can anyone recommend a good business checking account or should I stick with Chase there?
Re: Should I switch to Ally checking?
On personal accounts fidelity will reimburse foreign ATM fees and they don't charge a commission on foreign exchange.
-
- Posts: 675
- Joined: Sun Apr 03, 2011 9:08 pm
Re: Should I switch to Ally checking?
Thanks, it looks like Capital One 360 and Schwab also fall under that category:
http://www.nerdwallet.com/blog/banking/ ... -atm-fees/
Schwab requires you to open a brokerage account. Does Fidelity? I'll call Capital One 360 to confirm when they open in a few hours.
http://www.nerdwallet.com/blog/banking/ ... -atm-fees/
Schwab requires you to open a brokerage account. Does Fidelity? I'll call Capital One 360 to confirm when they open in a few hours.
Re: Should I switch to Ally checking?
1. Schwab is best for international transactions and ATM fees (no fees)
2. Fidelity is close second (they charge 1% transaction fee internationally) but no ATM fees.
I use both and the customer service is excellent.
Downsides
1. Interest is not as good, but they are terrible everywhere anyway and I dont rely on my checking account for interest
2. You still need a "real bank" for getting cashiers checks, etc
2. Fidelity is close second (they charge 1% transaction fee internationally) but no ATM fees.
I use both and the customer service is excellent.
Downsides
1. Interest is not as good, but they are terrible everywhere anyway and I dont rely on my checking account for interest
2. You still need a "real bank" for getting cashiers checks, etc
-
- Posts: 675
- Joined: Sun Apr 03, 2011 9:08 pm
Re: Should I switch to Ally checking?
I called Capital One 360 and apparently the info at nerdwallet.com is wrong. They do not reimburse ATM fees and (the guy thinks) they charge .2% (not 2%) which he says comes from Mastercard. Looks like Schwab for me.
-
- Posts: 675
- Joined: Sun Apr 03, 2011 9:08 pm
Re: Should I switch to Ally checking?
I tried to open the Schwab account from Spain and they said since the IP address is from outside of the US, I have to come to one of their branches to verify the account. I told them to close the account and I'll try again with a US IP.
Re: Should I switch to Ally checking?
Exactly the kind of suspicious activity that red flags potential fraud and annoys customers to no end. So if it's simply a matter of trying with a different IP, criminals can do the same. So if they reject your application a second time, their security process works, but you would be pissed off. If they allow the account, their security is questionable. No win for anyone. My bank used to require my pin to log in and with EVERY deposit. If someone wants to deposit INTO my account, by all means, allow them more recently, they've reduced the times I have to enter a pin, but it's still required again for withdrawals, which I agree is prudent.boglerocks wrote:I tried to open the Schwab account from Spain and they said since the IP address is from outside of the US, I have to come to one of their branches to verify the account. I told them to close the account and I'll try again with a US IP.
Re: Should I switch to Ally checking?
>Do any banks charge less than 1% on international ATM withdrawals?
>Do any banks reimburse ATM fees outside of the US?
I use B of A and they charged me 1% on a international ATM withdrawal. However, they waived the ATM fee as I used a bank that is in their network (Deutchebank when I was in Germany). It might be worthwhile to call your bank and see if they have a similar arrangement with any of the banks in the country that you are in.
>Do any banks reimburse ATM fees outside of the US?
I use B of A and they charged me 1% on a international ATM withdrawal. However, they waived the ATM fee as I used a bank that is in their network (Deutchebank when I was in Germany). It might be worthwhile to call your bank and see if they have a similar arrangement with any of the banks in the country that you are in.
Re: Should I switch to Ally checking?
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
Re: Should I switch to Ally checking?
The fact that they have that level of security, plus I have an RSA token with them, is part of the reason I really like Schwab and think they are MILES ahead of Vanguard in security and checking.boglerocks wrote:I tried to open the Schwab account from Spain and they said since the IP address is from outside of the US, I have to come to one of their branches to verify the account. I told them to close the account and I'll try again with a US IP.
Re: Should I switch to Ally checking?
My beef with Schwab is that (on my accounts, at least) they only allow passwords up to 8 characters, alphanumeric only (no special characters).Gleevec wrote:The fact that they have that level of security, plus I have an RSA token with them, is part of the reason I really like Schwab and think they are MILES ahead of Vanguard in security and checking.
Re: Should I switch to Ally checking?
Schwab is great and their customer service is out of this world. I travel for work within the US and had the IP security issue as well when opening my account. I don't know about anyone else but I appreciate that level of security.
Re: Should I switch to Ally checking?
Get a RSA token which effectively makes 6 additional numbers that are randomly generated. 8 alphanumeric + 6 RSA generated numbers on a token only you have = only 2 factor security option I am aware of from the Vanguard/Fidelity/Schwab trio.SSSS wrote:My beef with Schwab is that (on my accounts, at least) they only allow passwords up to 8 characters, alphanumeric only (no special characters).Gleevec wrote:The fact that they have that level of security, plus I have an RSA token with them, is part of the reason I really like Schwab and think they are MILES ahead of Vanguard in security and checking.
I would love for Vanguard and Fidelity to catch up to Schwab in this regard.
-
- Posts: 675
- Joined: Sun Apr 03, 2011 9:08 pm
Re: Should I switch to Ally checking?
Unfortunately not true. I called them and they said they charge .2% and don't reimburse ATM fees.Capital One 360
How did this play out for you? Did you visit a branch or were you able to switch to a US IP and open the account online after being denied with a foreign IP?I travel for work within the US and had the IP security issue as well when opening my account. I don't know about anyone else but I appreciate that level of security.
I was able to set up a password with more characters than that. Have you tried changing your password recently?My beef with Schwab is that (on my accounts, at least) they only allow passwords up to 8 characters, alphanumeric only (no special characters).
-
- Posts: 7502
- Joined: Mon Dec 17, 2007 6:32 pm
Re: Should I switch to Ally checking?
Have you tried just entering the first eight of yours? Sometimes they'll allow setting up a longer one, but will ignore any over their "window".boglerocks wrote:I was able to set up a password with more characters than that. Have you tried changing your password recently?My beef with Schwab is that (on my accounts, at least) they only allow passwords up to 8 characters, alphanumeric only (no special characters).
Brian
-
- Posts: 675
- Joined: Sun Apr 03, 2011 9:08 pm
Re: Should I switch to Ally checking?
Bingo, you're right on the money.