Ally Banking 1% extra back up to $1,000 on new money deposited

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Tamarind
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by Tamarind » Fri Oct 26, 2018 10:00 am

LSLover wrote:
Tue Oct 16, 2018 2:26 pm
OP here.

Has anyone tried to fund the new account during the opening process (via ACH) with the funds from the account owned by a spouse (your name is not on the funding source)?
Not a new account, but tried to pull to a joint Ally account from an account in my wife's name (w her approval of course). It completely failed and customer service was unable to resolve. The rep I spoke to was great and helped me file a complaint.

Note that I'm not trying for a "double bonus", but we happen to have $11k left in the last account that isn't in both our names and it seemed an auspicious time to bring it over to our joint Ally account.

The initial issue was that I had enrolled in the bonus program on my login, but the account in question was added as an external account on my wife's login to our joint account.

Because it was added on her login, I could not add it on my side to set up the transfer. Customer service advised it would not be approved as an external account on my login anyway because my name was not on the account. Unfortunately, the issue was compounded by the fact that if my wife made the transfer, it would not be eligible for the bonus because my wife's login account had not enrolled in the bonus program before the deadline (my oversight, but annoying). I asked if they could enroll her manually or swap my enrollment to her email address, but no luck. The front line reps not only didn't have access to the enrollment database but couldn't find out who did to escalate to them.

If anyone finds a way past this logjam I hope they'll post here. Only a couple of days left to initiate a transfer.
Last edited by Tamarind on Fri Oct 26, 2018 10:13 am, edited 1 time in total.

robertmcd
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by robertmcd » Fri Oct 26, 2018 10:13 am

simplesimon wrote:
Fri Oct 26, 2018 9:50 am
robertmcd wrote:
Fri Oct 26, 2018 9:47 am
I currently have an open empty Ally savings linked to my vanguard that I used before prime money market's yield went higher.

If I want to sell $100k of prime money market and have it get to ally in time, do I need to initiate the trade by the end of the day today?

I thought money market funds settled at the end of the trade day. So wouldn't it be in my Ally account on Monday?
Yes you should probably initiate today. I did and was told the money would be at Ally on Tuesday.
Thank you. And yes I forgot that it cannot settle into the Ally account, so it settles into vanguard then there is an ACH transfer.

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Kevin M
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by Kevin M » Fri Oct 26, 2018 11:16 am

simplesimon wrote:
Fri Oct 26, 2018 9:50 am
robertmcd wrote:
Fri Oct 26, 2018 9:47 am
I currently have an open empty Ally savings linked to my vanguard that I used before prime money market's yield went higher.

If I want to sell $100k of prime money market and have it get to ally in time, do I need to initiate the trade by the end of the day today?

I thought money market funds settled at the end of the trade day. So wouldn't it be in my Ally account on Monday?
Yes you should probably initiate today. I did and was told the money would be at Ally on Tuesday.
Yes, it usually takes two business days for money from Vanguard to get to Ally. Even entering the sell order on Monday before 4pm EST should get it to Ally by 10/31, but I would do it today to be safe.

It will be very interesting to see what happens to people who push it to Ally, and it gets there after 10/31 but by 11/5, since the terms clearly state 11/5 as the deadline for new deposits (understanding that the other communications say 10/31).

simplesimon, did you sign up for the promotion during the signup period? That's the other initial requirement.

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simplesimon
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by simplesimon » Fri Oct 26, 2018 2:45 pm

Kevin M wrote:
Fri Oct 26, 2018 11:16 am
simplesimon, did you sign up for the promotion during the signup period? That's the other initial requirement.
Yes, me and my wife are both Ally customers with our own logins. Both email accounts were registered during the sign-up period (we both got separate confirmation emails). Once the funds get in I'm opening a No Penalty CD for each of us as our own accounts. We'll see what happens in three months but I plan to push CSR if I don't get the bonus for both of us as 1) I have a chat log saying I would and 2) I believe we're following in the spirit of the promotion...no tricky business.

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by Lancelot » Fri Oct 26, 2018 7:03 pm

I'm an Ally customer with a CD on deposit. I tried to add a savings account to my existing account but was rejected because Ally requires a utility bill to verify a physical address. Since I'm a perpetual traveler I don't have any utility bills in the US, but the Patriot Act has essentially blocked me. I should have only contacted Ally when using a VPN showing my location as being in the USA :oops:
No Where for Very Long...

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by ivk5 » Sat Oct 27, 2018 12:42 am

Lancelot wrote:
Fri Oct 26, 2018 7:03 pm
I'm an Ally customer with a CD on deposit. I tried to add a savings account to my existing account but was rejected because Ally requires a utility bill to verify a physical address. Since I'm a perpetual traveler I don't have any utility bills in the US, but the Patriot Act has essentially blocked me. I should have only contacted Ally when using a VPN showing my location as being in the USA :oops:
Sorry to hear. Yes I have learned the hard way way to always use US VPN when opening accounts from abroad...

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Lancelot
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by Lancelot » Sat Oct 27, 2018 1:01 am

ivk5 wrote:
Sat Oct 27, 2018 12:42 am
Lancelot wrote:
Fri Oct 26, 2018 7:03 pm
I'm an Ally customer with a CD on deposit. I tried to add a savings account to my existing account but was rejected because Ally requires a utility bill to verify a physical address. Since I'm a perpetual traveler I don't have any utility bills in the US, but the Patriot Act has essentially blocked me. I should have only contacted Ally when using a VPN showing my location as being in the USA :oops:
Sorry to hear. Yes I have learned the hard way way to always use US VPN when opening accounts from abroad...
Thanks. I opened the account and purchased an Ally CD with no VPN. I understand the reason for the Patriot Act, but the unintended consequences are that all too often expat savers are caught in the net by mistake.
No Where for Very Long...

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by frisbeeaddict » Sat Oct 27, 2018 9:32 pm

Thank you for the heads up OP!

Looks like enrollment period ended unfortunately. I have been using ally for several years.and never seen these offers advertised. Anyone happen to know how often they do this? Will they still allow enrollment if we contact them perchance?

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by Kevin M » Sun Oct 28, 2018 1:11 pm

frisbeeaddict wrote:
Sat Oct 27, 2018 9:32 pm
Looks like enrollment period ended unfortunately. I have been using ally for several years.and never seen these offers advertised. Anyone happen to know how often they do this? Will they still allow enrollment if we contact them perchance?
I'm a longtime Ally customer, and I never saw this promotion on their website--I usually log in daily. I saw it mentioned here first, but of course it also was mentioned in a DepositAccounts.com blog post, so you would have seen it there also if you follow the DA blog.

I have never seen an offer like this, and certainly not this good, from Ally.

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Tamales
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by Tamales » Sun Oct 28, 2018 6:52 pm

Is there an official notification email expected right after the transfer deadline of 11/5, or maybe a message you have to log in to your account to see, where they state the final official amount that qualifies for the 1% bonus, presuming you keep it in place until February?

It would just be nice to get confirmation that their idea of the bonus amount matches mine.

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by xenial » Sun Oct 28, 2018 7:45 pm

Tamales wrote:
Sun Oct 28, 2018 6:52 pm
Is there an official notification email expected right after the transfer deadline of 11/5, or maybe a message you have to log in to your account to see, where they state the final official amount that qualifies for the 1% bonus, presuming you keep it in place until February?

It would just be nice to get confirmation that their idea of the bonus amount matches mine.
In his excellent blog post about the Ally offer, Ken Tumin included this tidbit he received from an Ally contact:
Enrollees that qualify for a cash bonus on 11/5 will receive emails in November and January with updates on their bonus amount.
Since this info didn't come directly from Ally, accuracy isn't guaranteed.

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by DaftInvestor » Mon Oct 29, 2018 8:36 am

As I mentioned above when I called Ally I had them verify that the accounts I opened were eligible for the bonus.

I just printed my Ally Dashboard to a PDF file showing my balances as of today (all my money has now completed transfer) so I have a paper-trail.

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by xenial » Mon Oct 29, 2018 11:02 am

Here's an idea: I think I'm going to move money from Vanguard to Ally via wire transfer instead of ACH. It's free for Flagship clients, and money arrives the same day if you initiate the transfer by 12:30 ET. If the Ally account is already on file with Vanguard, the wire can apparently be done by phone with no extra information required. This will avoid lost interest while ACH funds are in transit.

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by Thrift Shop » Mon Oct 29, 2018 12:23 pm

xenial wrote:
Sun Oct 28, 2018 7:45 pm
Tamales wrote:
Sun Oct 28, 2018 6:52 pm
Is there an official notification email expected right after the transfer deadline of 11/5, or maybe a message you have to log in to your account to see, where they state the final official amount that qualifies for the 1% bonus, presuming you keep it in place until February?

It would just be nice to get confirmation that their idea of the bonus amount matches mine.
In his excellent blog post about the Ally offer, Ken Tumin included this tidbit he received from an Ally contact:
Enrollees that qualify for a cash bonus on 11/5 will receive emails in November and January with updates on their bonus amount.
Since this info didn't come directly from Ally, accuracy isn't guaranteed.
I contacted Ally concerning confirmation of bonus amount. CSR mentioned email updates will be sent mid November.

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by wolf359 » Mon Oct 29, 2018 12:48 pm

robertmcd wrote:
Fri Oct 26, 2018 9:47 am
I currently have an open empty Ally savings linked to my vanguard that I used before prime money market's yield went higher.

If I want to sell $100k of prime money market and have it get to ally in time, do I need to initiate the trade by the end of the day today?

I thought money market funds settled at the end of the trade day. So wouldn't it be in my Ally account on Monday?
When I initiated a similar transfer between Vanguard and Ally (pushed from Vanguard), I was quoted 2-3 days. I anticipated 5 days as the worst case (meaning it should definitely be there by Monday 11/5.)

Technically you could initiate on 10/31 and expect it to be there by 11/5, but there's a bunch of ifs tied to that:
1) If nothing goes wrong with the sell order or the ACH and it doesn't delay by a day.
2) If Ally accepts the transfer as complying with the terms (they have published guidance that cites both 10/31 and 11/5 as the deadline.)
3) If the clearinghouse doesn't treat the transfer as a high dollar volume (which may result it not being treated as an expedite, meaning it could take up to 5 days.)

I'd recommend starting the transfer today if possible to avoid potential snags.

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by ThisTimeItsDifferent » Mon Oct 29, 2018 2:16 pm

Ally told me in chat (and I got the transcript afterward):
Providing that you have received an email confirming your enrollment for the bonus, and the new deposits are in your account by November 5th, you will still receive the bonus.

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by Elena » Mon Oct 29, 2018 5:41 pm

What I have learned from this offer and thread is that having a larger cash "uninvested" portion of savings can be used for the sole purpose of chasing short-time rewards. I could only come up with $25,000 (Vanguard mmkt. account, plus Ally savings acct.), because the rest of my funds are invested in mutual funds and stocks. I used to have more cash back in the day when interest rates were way above inflation, after which I shifted to the stock market. Maybe it is time to gather some more cash to be ready for bank promotions. I do have a question:
Brokerage acct. transfer bonuses seem to be incremental at: $250,000, then $500,000 for the next tier. Do you think bank bonuses (non-brokerage) have a certain threshold or cap at $100,000, like Ally did this time, or was it coincidental?

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by simplesimon » Wed Oct 31, 2018 6:32 am

Elena wrote:
Mon Oct 29, 2018 5:41 pm
What I have learned from this offer and thread is that having a larger cash "uninvested" portion of savings can be used for the sole purpose of chasing short-time rewards. I could only come up with $25,000 (Vanguard mmkt. account, plus Ally savings acct.), because the rest of my funds are invested in mutual funds and stocks. I used to have more cash back in the day when interest rates were way above inflation, after which I shifted to the stock market. Maybe it is time to gather some more cash to be ready for bank promotions. I do have a question:
Brokerage acct. transfer bonuses seem to be incremental at: $250,000, then $500,000 for the next tier. Do you think bank bonuses (non-brokerage) have a certain threshold or cap at $100,000, like Ally did this time, or was it coincidental?
This is the best bank offer I've seen for some time, with my guess as to why they're doing it posted earlier in the thread. (You'll see stuff like $500 for opening a new checking account and following a number of rules like minimum debit transactions). A bonus as a % of deposits seems new to me and maybe other banks will follow suit. It wouldn't make as much sense to allow deposits over $250k per person since that's outside of FDIC limits.

There are debates about whether or not having some "dry powder" helps boost returns but thats in relation to equity purchases...these kinds of bank offers will evaporate during a recession, so I don't think it's a good long term strategy.

I would guess only a small proportion of people who enrolled are bringing in $100k.

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by amythius » Thu Nov 01, 2018 3:45 pm

Wow, I attempted to open an account online on 10/19. I called every other day since the 24th, and received no correspondence from Ally at any time.

It is now 'too late' to open and fund an account for the 1% bonus no matter what.

The company could not share the reason for initial decline over the phone, they said a letter was mailed out on the 19th apparently. I STILL have not received any such letter. I voiced this concern all 5 times I reached out to Ally.

I have never dealt with such lackluster service, or care for a potential new customer's funds in my life. Wow. I don't think I will EVER be working with Ally bank again.

[ Reason ]
The only thing I can think is that I had my credit frozen. I should have unfrozen it for a window of 5 days when I attempted to open the account. I wonder if this somehow got in the way. But as I spoke to 4-5 different representatives, they all said it is a Soft Pull -- so why would a freeze impact that?

Curious indeed.... I am left stumped here... Guess I am looking to work with my local B&M bank or another e-bank. Wow...

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by dcw213 » Thu Nov 01, 2018 6:22 pm

The rollout and communication has been interesting to see unfold. I am a long time customer and received an email with the offer a few hours after reading about it on here. A family member is a newer customer and received no offer. I moved a large amount of money out of Ally savings in August in favor of Vanguard MM and ultra short bonds. I'm guessing that they felt the impact of the outflow and prioritized customers that recently pulled large deposits. Seems they may have gotten more customer interest (no pun intended) than they had intended.

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by cookymonster » Thu Nov 01, 2018 6:26 pm

Customer service was brutal today. I called today to cancel my no-penalty CD so I could open a new larger one. It took 35 minutes because the system was so sluggish.

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by Kevin M » Thu Nov 01, 2018 8:02 pm

cookymonster wrote:
Thu Nov 01, 2018 6:26 pm
Customer service was brutal today. I called today to cancel my no-penalty CD so I could open a new larger one. It took 35 minutes because the system was so sluggish.
Closing a CD and opening a new one is very easy online. I understand that some people don't like to do bank stuff online, but just making sure you're aware.

We opened three no-penalty CDs in the last two days, and transferred our "new deposits" into them from online savings accounts, all online. All done in a few minutes.

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by indexfundfan » Thu Nov 01, 2018 8:13 pm

amythius wrote:
Thu Nov 01, 2018 3:45 pm
The only thing I can think is that I had my credit frozen. I should have unfrozen it for a window of 5 days when I attempted to open the account. I wonder if this somehow got in the way. But as I spoke to 4-5 different representatives, they all said it is a Soft Pull -- so why would a freeze impact that?
I've got hung up by the credit freeze too. Unfreeze it and it went through (make sure to unfreeze two persons for a joint account). I believe a soft pull will fail for a new customer if the credit is frozen.
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by cookymonster » Thu Nov 01, 2018 9:26 pm

Kevin M wrote:
Thu Nov 01, 2018 8:02 pm
cookymonster wrote:
Thu Nov 01, 2018 6:26 pm
Customer service was brutal today. I called today to cancel my no-penalty CD so I could open a new larger one. It took 35 minutes because the system was so sluggish.
Closing a CD and opening a new one is very easy online. I understand that some people don't like to do bank stuff online, but just making sure you're aware.

We opened three no-penalty CDs in the last two days, and transferred our "new deposits" into them from online savings accounts, all online. All done in a few minutes.

Kevin
Thanks, actually didn't know. I recall being instructed to call when I tried to open one a few weeks ago. I'll try a little harder on the web site next time.

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by libralibra » Thu Nov 01, 2018 9:53 pm

post removed
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by amythius » Fri Nov 02, 2018 6:19 am

indexfundfan wrote:
Thu Nov 01, 2018 8:13 pm
amythius wrote:
Thu Nov 01, 2018 3:45 pm
The only thing I can think is that I had my credit frozen. I should have unfrozen it for a window of 5 days when I attempted to open the account. I wonder if this somehow got in the way. But as I spoke to 4-5 different representatives, they all said it is a Soft Pull -- so why would a freeze impact that?
I've got hung up by the credit freeze too. Unfreeze it and it went through (make sure to unfreeze two persons for a joint account). I believe a soft pull will fail for a new customer if the credit is frozen.
Ok, good to know. I unfroze my credit at 3 places online before applying to Ally bank. Thought it might be near real-time -- I guess it could not be. I also was attempting to open a solo owner account for ease, not a joint.

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by amythius » Fri Nov 02, 2018 6:21 am

libralibra wrote:
Thu Nov 01, 2018 9:53 pm
IMO ally.com has one of the easiest web interfaces for stuff like opening accounts, setting maturity instructions, adding beneficiaries - ie. cleanest pages and fewest clicks. It's ironic that whenever a company does a promotion to get new customers and gets swamped, the people they are trying to attract instead walk away with a bad first impression.
I am more so upset because the lady yesterday said I should have just applied on the phone -- conveniently after the bonus period. Not one of the previous 4 representatives that I spoke to had mentioned to try that. They just kept saying a letter will come, a letter will come. Well I have never seen a letter take 11+ business days in the USA.... :confused

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by MathIsMyWayr » Fri Nov 02, 2018 6:56 am

Is it too late to initiate transferring fund now to get a 1% bonus?

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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by indexfundfan » Fri Nov 02, 2018 7:05 am

MathIsMyWayr wrote:
Fri Nov 02, 2018 6:56 am
Is it too late to initiate transferring fund now to get a 1% bonus?
The money needs to be in Ally by 11/5. The terms and conditions:

Enrollment Period – The timeframe in which a customer can enroll for the Cash Bonus begins at 12:01 a.m. Eastern
Standard Time (EST) on 10/15/18 and continues through 11:59 p.m. EST on 10/21/18. These timeframes can be modied or
shortened at any time, without any notice to customers.

Account Opening & Funding – Accounts must be approved, opened AND funded by 11/05/18 to qualify. New deposit of
funds must be posted in the eligible Account(s) by 11/05/18. Pending deposits, transfers “in-fight”, or returns on or after the
funding deadline will not qualify for the Cash Bonus. Cash Bonus is calculated using the total deposit of new, external funds
received into any eligible account(s) between 10/08/18 and 11/05/18. The new funds deposited into the account(s) must be
from outside the Ally Financial family of companies. Transfers from other banks can take multiple days to complete, so be
sure to initiate any transfers well in advance of 11/05/2018.

I believe if you deposit a check using the mobile app, the deposit will be posted today. When I used the app to deposit my checks (before the time cutoff of the day), they posted on the same day.
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by indexfundfan » Fri Nov 02, 2018 7:10 am

amythius wrote:
Fri Nov 02, 2018 6:21 am
libralibra wrote:
Thu Nov 01, 2018 9:53 pm
IMO ally.com has one of the easiest web interfaces for stuff like opening accounts, setting maturity instructions, adding beneficiaries - ie. cleanest pages and fewest clicks. It's ironic that whenever a company does a promotion to get new customers and gets swamped, the people they are trying to attract instead walk away with a bad first impression.
I am more so upset because the lady yesterday said I should have just applied on the phone -- conveniently after the bonus period. Not one of the previous 4 representatives that I spoke to had mentioned to try that. They just kept saying a letter will come, a letter will come. Well I have never seen a letter take 11+ business days in the USA.... :confused
Yes, I agree they did not handle it very well. When the account opening process failed, the reps should be able suggest reasons (e.g. credit freeze) why it failed.
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by RickBoglehead » Fri Nov 02, 2018 7:13 am

We applied for individual savings accounts (already had joint accounts), and didn't unfreeze our credit. Took a few days for Ally to call and ask the identify-verification questions and approve the accounts.

After funding, we opened individual CDs. We first did a temporary unfreeze (set for 1 day) at Transunion, which is where Ally goes. Waited 15 minutes (as Transunion instructs you), then applied and CDs were instantly opened.
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by amythius » Fri Nov 02, 2018 9:34 am

indexfundfan wrote:
Fri Nov 02, 2018 7:05 am
MathIsMyWayr wrote:
Fri Nov 02, 2018 6:56 am
Is it too late to initiate transferring fund now to get a 1% bonus?
The money needs to be in Ally by 11/5. The terms and conditions:

Enrollment Period – The timeframe in which a customer can enroll for the Cash Bonus begins at 12:01 a.m. Eastern
Standard Time (EST) on 10/15/18 and continues through 11:59 p.m. EST on 10/21/18. These timeframes can be modied or
shortened at any time, without any notice to customers.

Account Opening & Funding – Accounts must be approved, opened AND funded by 11/05/18 to qualify. New deposit of
funds must be posted in the eligible Account(s) by 11/05/18. Pending deposits, transfers “in-fight”, or returns on or after the
funding deadline will not qualify for the Cash Bonus. Cash Bonus is calculated using the total deposit of new, external funds
received into any eligible account(s) between 10/08/18 and 11/05/18. The new funds deposited into the account(s) must be
from outside the Ally Financial family of companies. Transfers from other banks can take multiple days to complete, so be
sure to initiate any transfers well in advance of 11/05/2018.

I believe if you deposit a check using the mobile app, the deposit will be posted today. When I used the app to deposit my checks (before the time cutoff of the day), they posted on the same day.
I asked the representative this yesterday, and she whisked off to 'ask the back-office' -- to ultimately respond No. She said the funds had to be initiated transfer by 10/31 and that was a hard date. I am sure this may not be the case for others -- but they didn't seem willing.

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GoldStar
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by GoldStar » Fri Nov 02, 2018 9:48 am

RickBoglehead wrote:
Fri Nov 02, 2018 7:13 am
We applied for individual savings accounts (already had joint accounts), and didn't unfreeze our credit. Took a few days for Ally to call and ask the identify-verification questions and approve the accounts.

After funding, we opened individual CDs. We first did a temporary unfreeze (set for 1 day) at Transunion, which is where Ally goes. Waited 15 minutes (as Transunion instructs you), then applied and CDs were instantly opened.
You should have done the unfreeze for the former and not the latter.
If you had unfroze your credit for the Savings Accounts they likely would have been approved immediately.
For the CDs it wasn't necessary - Ally doesn't typically pull credit for CDs (mine were frozen when I got the instant-CD; and others stated this above).

kaneohe
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by kaneohe » Fri Nov 02, 2018 10:15 am

amythius wrote:
Fri Nov 02, 2018 9:34 am
.............................

I asked the representative this yesterday, and she whisked off to 'ask the back-office' -- to ultimately respond No. She said the funds had to be initiated transfer by 10/31 and that was a hard date. I am sure this may not be the case for others -- but they didn't seem willing.
This might be the case if you were pulling funds in to Ally. It might be different if you were pushing to Ally from outside.

WanderingDoc
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by WanderingDoc » Fri Nov 02, 2018 7:42 pm

Was there only a 2 week window where money had to be deposited to get the $1000? I deposit into Ally frequently. Must have missed it :oops:
I'm not looking to get rich quick (stocks), I'm not looking to get rich slow (indexing), I'm looking to get rich, for sure (real estate) | Don't wait to buy real estate. Buy real estate.. and wait.

marcopolo
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by marcopolo » Fri Nov 02, 2018 11:54 pm

WanderingDoc wrote:
Fri Nov 02, 2018 7:42 pm
Was there only a 2 week window where money had to be deposited to get the $1000? I deposit into Ally frequently. Must have missed it :oops:
I didn't realize Ally had started selling real estate :sharebeer
Once in a while you get shown the light, in the strangest of places if you look at it right.

WanderingDoc
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by WanderingDoc » Sat Nov 03, 2018 12:19 am

marcopolo wrote:
Fri Nov 02, 2018 11:54 pm
WanderingDoc wrote:
Fri Nov 02, 2018 7:42 pm
Was there only a 2 week window where money had to be deposited to get the $1000? I deposit into Ally frequently. Must have missed it :oops:
I didn't realize Ally had started selling real estate :sharebeer
They don't. But when your rental property cash flow accumulates at a rapid clip, need to move it to a decent-yielding savings account. I don't want 5 or 6 figures aren't sitting in a 0.1% business checking account :sharebeer
I'm not looking to get rich quick (stocks), I'm not looking to get rich slow (indexing), I'm looking to get rich, for sure (real estate) | Don't wait to buy real estate. Buy real estate.. and wait.

libralibra
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by libralibra » Sun Nov 04, 2018 2:37 pm

post removed
Last edited by libralibra on Wed May 29, 2019 11:05 pm, edited 1 time in total.

edudumb
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by edudumb » Sun Nov 04, 2018 3:36 pm

libralibra wrote:
Sun Nov 04, 2018 2:37 pm
I got a packet in the mail for each no-penalty CD I opened, even though I have paperless settings. So I'm wondering, for people who have closed/re-opened these CDs in the past when the rates bumped up, did you get a bunch of paper in the mail every time?
Same here, yes.

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Kevin M
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by Kevin M » Sun Nov 04, 2018 3:50 pm

libralibra wrote:
Sun Nov 04, 2018 2:37 pm
I got a packet in the mail for each no-penalty CD I opened, even though I have paperless settings. So I'm wondering, for people who have closed/re-opened these CDs in the past when the rates bumped up, did you get a bunch of paper in the mail every time?
Yes, Ally mails you a packet each time you open a new account. Most of it is boilerplate, and is the same in each packet.

Kevin
Wiki ||.......|| Suggested format for Asking Portfolio Questions (edit original post)

am
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by am » Sun Nov 04, 2018 3:55 pm

I’ve got 100k sitting in the no penalty cd for 2.1%. If the rates rise, can I break it and open a new one without risking the 1k bonus?

TravelGeek
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by TravelGeek » Sun Nov 04, 2018 4:01 pm

am wrote:
Sun Nov 04, 2018 3:55 pm
I’ve got 100k sitting in the no penalty cd for 2.1%. If the rates rise, can I break it and open a new one without risking the 1k bonus?
That is what the conventional wisdom here says - you need to move $100,000 into Ally, but once there you can move it around. E.g. I moved it into checking initially via EFF and then bought a bunch of CDs (no penalty and 1 year). Will potentially cash in (and rebuy) the no penalty CDs if rates increase.

TravelGeek
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by TravelGeek » Tue Nov 06, 2018 7:31 pm

Email from Ally just now:

TravelGeek, if you added new external funds to an account, then your projected cash bonus is being calculated. Look out for your bonus projection in the next couple weeks!

A few things about your bonus:
- The email address used to enroll (REMOVED) must match the email address on the Ally Bank account you deposit funds into.
- Money must have been moved to a new or existing eligible Ally Bank account (Online Savings, Money Market, Interest Checking or CD account) by 10/31/2018.
- Cash bonus applies to new funds added to an eligible Ally Bank account, not your total balance.
- Funds must remain in an eligible account through 1/15/19.
- Minimum cash bonus is $10 ($1,000 deposit), maximum is $1,000 ($100,000 deposit).

geospatial
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by geospatial » Tue Nov 06, 2018 7:53 pm

If you click on the "Terms & Conditions" link near the bottom of that email, it takes you to http://allypaybacktime.com, where they state that the new fund deposit timeframe was between 10/08/18 and 11/05/18.

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IcedDog
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by IcedDog » Wed Nov 07, 2018 12:35 am

Did existing Ally customers automatically get included, or did they also have to actively enroll in the promotion? I've had an Ally savings account for years, but didn't hear about this until just recently.

xenial
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by xenial » Wed Nov 07, 2018 12:44 am

IcedDog wrote:
Wed Nov 07, 2018 12:35 am
Did existing Ally customers automatically get included, or did they also have to actively enroll in the promotion? I've had an Ally savings account for years, but didn't hear about this until just recently.
Online enrollment in the promotion was required. I first learned about it from this very conversation. Ken Tumin's blog also discussed the offer; it's a great source for banking information.

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IcedDog
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by IcedDog » Wed Nov 07, 2018 1:00 am

:( I thought as much. Thanks for the link

TravelGeek
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by TravelGeek » Wed Nov 07, 2018 1:31 am

geospatial wrote:
Tue Nov 06, 2018 7:53 pm
If you click on the "Terms & Conditions" link near the bottom of that email, it takes you to http://allypaybacktime.com, where they state that the new fund deposit timeframe was between 10/08/18 and 11/05/18.
You’d think this isn’t so hard to get right... (I double checked, my money was in before 10/31)

ivk5
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by ivk5 » Wed Nov 07, 2018 1:57 am

TravelGeek wrote:
Wed Nov 07, 2018 1:31 am
geospatial wrote:
Tue Nov 06, 2018 7:53 pm
If you click on the "Terms & Conditions" link near the bottom of that email, it takes you to http://allypaybacktime.com, where they state that the new fund deposit timeframe was between 10/08/18 and 11/05/18.
You’d think this isn’t so hard to get right... (I double checked, my money was in before 10/31)
My last chunk credited on 11/1 (pushed from TransferWise; was supposed to arrive 10/31 grr). Will be interesting to see how they treat that.

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F150HD
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Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Post by F150HD » Thu Nov 08, 2018 5:20 pm

IcedDog wrote:
Wed Nov 07, 2018 12:35 am
Did existing Ally customers automatically get included, or did they also have to actively enroll in the promotion? I've had an Ally savings account for years, but didn't hear about this until just recently.
similar here, didn't hear a thing.

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