Ally Bank 2% 12 month CD expires tomorrow

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Rob5TCP
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Ally Bank 2% 12 month CD expires tomorrow

Post by Rob5TCP » Mon Jan 01, 2018 11:36 am

Ally Bank 12 month CD with 2% yield; EWP of 60 days and no minimum expires tomorrow.
While the 11 month no penalty deal might be better if you have 25k or more, this is the better choice for under 25k.

https://www.depositaccounts.com/banks/ally-bank/offers/

123
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Re: Ally Bank 2% 12 month CD expires tomorrow

Post by 123 » Mon Jan 01, 2018 12:37 pm

Yes the rate will expire, but the replacement rate might be the same, higher, (or lower).
The closest helping hand is at the end of your own arm.

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Ozonewanderer
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Re: Ally Bank 2% 12 month CD expires tomorrow

Post by Ozonewanderer » Mon Jan 01, 2018 10:37 pm

I appreciate the tips from both of you! It sounds like the perfect solution to my current need. I'll look into this immediately.
Thanks.

Mr. Gatti
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Re: Ally Bank 2% 12 month CD expires tomorrow

Post by Mr. Gatti » Mon Jan 01, 2018 10:41 pm

Can anyone confirm that the cd does not have to be funded by tomorrow to get the rate as long as you get it funded within 10 days of opening? Thanks.

123
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Re: Ally Bank 2% 12 month CD expires tomorrow

Post by 123 » Mon Jan 01, 2018 10:53 pm

Mr. Gatti wrote:
Mon Jan 01, 2018 10:41 pm
Can anyone confirm that the cd does not have to be funded by tomorrow to get the rate as long as you get it funded within 10 days of opening? Thanks.
From the Ally Bank website: "When you fund your non-IRA CD within 10 days of your open date, you'll get the best rate we offer for your term and balance tier if our rate goes up within that time."
The closest helping hand is at the end of your own arm.

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eye.surgeon
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Re: Ally Bank 2% 12 month CD expires tomorrow

Post by eye.surgeon » Mon Jan 01, 2018 11:08 pm

yes but they usually (at least recently) space out CD interest rate hikes by 11 days.
"I would rather be certain of a good return than hopeful of a great one" | Warren Buffett

anonenigma
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Re: Ally Bank 2% 12 month CD expires tomorrow

Post by anonenigma » Mon Jan 01, 2018 11:12 pm

eye.surgeon wrote:
Mon Jan 01, 2018 11:08 pm
yes but they usually (at least recently) space out CD interest rate hikes by 11 days.
I recently updated the "No Penalty CD" from 1.5% to 1.6%, but when the paperwork arrived, it had been increased (without my asking) to 1.75%. The 2% is tempting, but it feels like we are in a rising interest rate environment, so it wouldn't surprise me if the "No Penalty CD" catches up before long.

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Cobra Commander
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Re: Ally Bank 2% 12 month CD expires tomorrow

Post by Cobra Commander » Mon Jan 01, 2018 11:21 pm

Just as an FYI I called them and they said so long as I began the application process prior to the offer expiration I will get the advertised rate even if it takes them a few days to open my account. Ive been meaning to migrate some of my banking from WF to Ally and this gave me a little push.

Rajsx
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Re: Ally Bank 2% 12 month CD expires tomorrow - Lost confidence

Post by Rajsx » Sat Jan 13, 2018 2:01 pm

Ally is screwing up big time,

First they messed up adding my name as the Trustee on my wife's trust account, when orally they admitted their mistake multiple times, as they could see my name clearly on her Trust account papers they have on file & promised the correction & it took 4 phone calls, a few months & written letters to go and finally correct it.

Now, when I transferred the funds to open the CD to avail the 2 % rate, they do not have any trace of the transfer .

Good riddance, good that we have many more banks to do business with
We do not stop laughing because we grow old, we grow old because we stop laughing !!

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DaftInvestor
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Re: Ally Bank 2% 12 month CD expires tomorrow

Post by DaftInvestor » Sat Jan 13, 2018 2:46 pm

Synchrony has a 2% rate on a 12 month CD as well - I see no indication theirs expires tomorrow.

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Ozonewanderer
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Re: Ally Bank 2% 12 month CD expires tomorrow - Lost confidence

Post by Ozonewanderer » Sat Jan 13, 2018 3:58 pm

Rajsx wrote:
Sat Jan 13, 2018 2:01 pm
Ally is screwing up big time,

First they messed up adding my name as the Trustee on my wife's trust account, when orally they admitted their mistake multiple times, as they could see my name clearly on her Trust account papers they have on file & promised the correction & it took 4 phone calls, a few months & written letters to go and finally correct it.

Now, when I transferred the funds to open the CD to avail the 2 % rate, they do not have any trace of the transfer .

Good riddance, good that we have many more banks to do business with
I did business with Ally about four years ago and their service was top notch. Now their call wait times seem to run 12 to 25 minutes. I am also getting confusing emails from Ally saying they have been trying to call me and I should call them back.

I did successfully get the 2% 12 mo CD but the experience was nowhere as good as before.

Anon64
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Re: Ally Bank 2% 12 month CD expires tomorrow

Post by Anon64 » Sat Jan 13, 2018 4:04 pm

I signed up for the 2% CD on December 23rd. The rule is that you have to fund it within 10 days. I requested the transfer to fund it on December 31st but the transfer did not complete until Jan. 3rd (i.e., 11 days). They then gave me a 1.35% rate. I was a little surprised since the transfer request was made on the Ally site within 10 days. I contacted customer service who cited the 10-day funding rule. Not a big deal but somewhat annoying. I promptly closed my account, took the 60-day interest penalty, and transferred the money back to Capitalone money market which now gets 1.4%.

kappy
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Re: Ally Bank 2% 12 month CD expires tomorrow

Post by kappy » Sat Jan 13, 2018 9:45 pm

I guess they make it harder when you don't have a savings account through them. I opened up several 11 month no penalty CD's and a 12 month hi yield CD throughout the month of December. Each was opened and funded from my Ally savings account in about 5 minutes using the web interface. The funds immediately showed up in the CD.

AntsOnTheMarch
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Re: Ally Bank 2% 12 month CD expires tomorrow

Post by AntsOnTheMarch » Sat Jan 13, 2018 9:53 pm

kappy wrote:
Sat Jan 13, 2018 9:45 pm
I guess they make it harder when you don't have a savings account through them. I opened up several 11 month no penalty CD's and a 12 month hi yield CD throughout the month of December. Each was opened and funded from my Ally savings account in about 5 minutes using the web interface. The funds immediately showed up in the CD.
Same here. Very smooth and fast when funding from savings. I closed old CDs, money went to in savings immediately and opened the new CDs—all in a few minutes on Jan 1.

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