Ally 1% bonus, up to $250, sign up by 3/23

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H-Town
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Re: Ally 1% bonus, up to $250

Post by H-Town » Sun Mar 22, 2020 12:13 pm

am wrote:
Sun Mar 22, 2020 11:42 am
So this bonus nets me 250 - (35% fed+ 5% state+ 2.5 NIT + 1.25% Medicare ) tax. Did I miss any :D ? Not worth tying up money for half the year given what’s going on. Don’t know if others agree?
First, free money is free money.

Second, it's not half the year. Stay with the facts.

Third, if you need to bleed into $25k cash reserve, you probably don't need to chase after bonus like this.

HomeStretch
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Re: Ally 1% bonus, up to $250

Post by HomeStretch » Sun Mar 22, 2020 12:15 pm

+1. Took 30 minutes to setup and fund two $25k Ally CDs for spouse and I. Easy money.

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Chip Munk
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Re: Ally 1% bonus, up to $250

Post by Chip Munk » Sun Mar 22, 2020 12:35 pm

02nz wrote:
Thu Mar 19, 2020 9:48 am
MikeG62 wrote:
Wed Mar 18, 2020 11:42 am
kaneohe wrote:
Wed Mar 18, 2020 11:33 am
nps wrote:
Wed Mar 18, 2020 11:15 am
I opened the 1.75 percent 11 month No Penalty CD on March 14th and immediately funded through ACH from an existing bank in my Ally profile. Now that the funds are showing today, my CD rate is listed as 1.5 percent, which is the No Penalty CD rate as of today.

Is that the way it's supposed to work? I thought I was supposed to get the 1.75 percent but may have not read the terms closely enough.
I'm in a similar boat but don't know my official rate yet. I googled this:
"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." Note bolded words which I hadn't been aware of .
Hope it isn't true.
You get the highest rate during that 10 day period. I’ve done this before and seen it work this way.
An additional detail: I opened the NP CD when it was 1.75%, funded it today (within the 10-day window), but the website shows the lower rate. The CSR I talked with said the rate will automatically adjust to the higher rate once the 10-day window ends.
I recently opened an Ally CD and that is exactly what happened in my case. The rate was 1.85% the day I opened it, but dropped to 1.7% two days later. After the funds transfer completed, which occurred within the 10-day window, my CD was showing a rate of 1.7% and the interest earned to date reflected that lower interest rate so I called Ally.

I was told the rate is set to the current rate on the day the funds arrive but then at the end of the 10-day window they do a "look back" and adjust the rate to the highest rate that was available during the 10-day window. I checked again on the 11th day from when I opened the CD, and the rate was updated to 1.85% and the interest earned to date was adjusted to the correct amount.

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02nz
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Re: Ally 1% bonus, up to $250

Post by 02nz » Sun Mar 22, 2020 12:46 pm

j0nnyg1984 wrote:
Sun Mar 22, 2020 10:58 am
02nz wrote:
Fri Mar 20, 2020 3:11 pm
A reminder that today (Fri 3/20) is the last day to sign up
Why are you writing this when the Ally website clearly says March 23?
It was March 20, then extended to the 23rd.

See also this doctorofcredit.com post from the March 20 that said it was the last day, and then noted the extension: https://www.doctorofcredit.com/ally-ban ... customers/

(I didn't get the information from doctorofcredit.com though, but rather from Ally's own site.)

Topic Author
02nz
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Re: Ally 1% bonus, up to $250

Post by 02nz » Sun Mar 22, 2020 12:49 pm

JoeJohnson wrote:
Sun Mar 22, 2020 11:03 am
j0nnyg1984 wrote:
Sun Mar 22, 2020 10:58 am
02nz wrote:
Fri Mar 20, 2020 3:11 pm
A reminder that today (Fri 3/20) is the last day to sign up
Why are you writing this when the Ally website clearly says March 23?
The OP has been thinking the deadline is 20th all along :oops:
Because it was the 20th all along, until they extended it. :oops:

Ally's website said the 20th, until the 20th. Lots of posts on the internet that confirm this (some have been updated to note the extension). See for example: https://dannydealguru.com/2020/03/13/ally-bank-bonus-2/

Jags4186
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Re: Ally 1% bonus, up to $250

Post by Jags4186 » Sun Mar 22, 2020 1:52 pm

am wrote:
Sun Mar 22, 2020 12:08 pm
Jags4186 wrote:
Sun Mar 22, 2020 11:59 am
am wrote:
Sun Mar 22, 2020 11:42 am
So this bonus nets me 250 - (35% fed+ 5% state+ 2.5 NIT + 1.25% Medicare ) tax. Did I miss any :D ? Not worth tying up money for half the year given what’s going on. Don’t know if others agree?
You’re only tying it up until 6/30 afterwards you can move the money and collect the bonus.
I am getting 1.7% at Amex savings right now. Ally savings at 1.5%. So net is .8% or 200 bucks after the 1% bonus before tax or about 100 bucks or so after tax. Really feeling uninspired by this one.
That’s not how math works. You’re getting 1% for keeping money in there for 3 months. That’s 4% interest on top of the regular savings rate—5.5% APY for 3 months.

Topic Author
02nz
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Re: Ally 1% bonus, up to $250, sign up by 3/23

Post by 02nz » Mon Mar 23, 2020 1:03 pm

PSA: Today's the last day to sign up.

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nps
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Re: Ally 1% bonus, up to $250

Post by nps » Tue Mar 24, 2020 4:10 am

SeekingAPlan wrote:
Wed Mar 18, 2020 11:30 am
nps wrote:
Wed Mar 18, 2020 11:15 am
I opened the 1.75 percent 11 month No Penalty CD on March 14th and immediately funded through ACH from an existing bank in my Ally profile. Now that the funds are showing today, my CD rate is listed as 1.5 percent, which is the No Penalty CD rate as of today.

Is that the way it's supposed to work? I thought I was supposed to get the 1.75 percent but may have not read the terms closely enough.
You will get the highest rate.during.the 10 day guarantee period but it will not show until the end of the 10 days.
Just an update, this is exactly what happened. Opened on March 14th, today the interest rate adjusted back to what it was when I opened.

BrownEyedGirl_27
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Re: Ally 1% bonus, up to $250, sign up by 3/23

Post by BrownEyedGirl_27 » Tue Mar 24, 2020 5:11 pm

Thanks OP for sharing. I set mine up as a joint account with my spouse and while it did take a few days to get sorted out (the first passport picture we faxed them was too dark, my bad), Ally was great over the phone while they troubleshooted for me. Lesson learned for an account bonus coming to a close with about a week or so buffer, maybe call Ally to add your spouse afterwards.

Now that my account is open as of today, hopefully I will have just enough time to transfer the new funds into the account by the 31st.

For anyone opening an account with them either this week or in the future, do reach out and call them if you're having any trouble setting up an account.
"Your mind has a mind of its own. At the very moment when you are most convinced of your own rationality, you may be feeling rather than thinking your way toward a decision.” | Jason Zweig

nalor511
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Joined: Mon Jul 27, 2015 1:00 am

Re: Ally 1% bonus, up to $250

Post by nalor511 » Tue Mar 24, 2020 7:30 pm

nps wrote:
Tue Mar 24, 2020 4:10 am
SeekingAPlan wrote:
Wed Mar 18, 2020 11:30 am
nps wrote:
Wed Mar 18, 2020 11:15 am
I opened the 1.75 percent 11 month No Penalty CD on March 14th and immediately funded through ACH from an existing bank in my Ally profile. Now that the funds are showing today, my CD rate is listed as 1.5 percent, which is the No Penalty CD rate as of today.

Is that the way it's supposed to work? I thought I was supposed to get the 1.75 percent but may have not read the terms closely enough.
You will get the highest rate.during.the 10 day guarantee period but it will not show until the end of the 10 days.
Just an update, this is exactly what happened. Opened on March 14th, today the interest rate adjusted back to what it was when I opened.
Just keep an eye out, 3 of my CDs adjusted back to the correct (higher) rate, 1 did not. Gotta watch 'em.

NewbieBogle007
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Re: Ally 1% bonus, up to $250, sign up by 3/23

Post by NewbieBogle007 » Wed Mar 25, 2020 7:30 am

I accidentally overdrew my outside bank account when trying to fund my new account for the promo. Ally suspended all my transferring capabilities. I was on the phone with them for over one hour yesterday evening while I waited for the rep to get a hold of someone at the "back office" to fix this.

I am still suspended at Ally. This is insanity.

nalor511
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Joined: Mon Jul 27, 2015 1:00 am

Re: Ally 1% bonus, up to $250, sign up by 3/23

Post by nalor511 » Wed Mar 25, 2020 1:20 pm

NewbieBogle007 wrote:
Wed Mar 25, 2020 7:30 am
I accidentally overdrew my outside bank account when trying to fund my new account for the promo. Ally suspended all my transferring capabilities. I was on the phone with them for over one hour yesterday evening while I waited for the rep to get a hold of someone at the "back office" to fix this.

I am still suspended at Ally. This is insanity.
They are busy with this promo, and it's to your benefit if they hurry up and help you get this bonus, but with the rates having fallen so much and the reserve requirement being removed, it's not really to theirs. Sucks, but that's sort of the reality. They maybe see you as a bit of a risk for having overdrawn, and are not in a hurry to correct it. I've contacted them twice via secure mail in the past week, and gotten no response over 7 days later. I don't know what it is, but the chat option has also disappeared since Mar 13th for me.

Jags4186
Posts: 4358
Joined: Wed Jun 18, 2014 7:12 pm

Re: Ally 1% bonus, up to $250

Post by Jags4186 » Wed Mar 25, 2020 2:14 pm

nalor511 wrote:
Tue Mar 24, 2020 7:30 pm
nps wrote:
Tue Mar 24, 2020 4:10 am
SeekingAPlan wrote:
Wed Mar 18, 2020 11:30 am
nps wrote:
Wed Mar 18, 2020 11:15 am
I opened the 1.75 percent 11 month No Penalty CD on March 14th and immediately funded through ACH from an existing bank in my Ally profile. Now that the funds are showing today, my CD rate is listed as 1.5 percent, which is the No Penalty CD rate as of today.

Is that the way it's supposed to work? I thought I was supposed to get the 1.75 percent but may have not read the terms closely enough.
You will get the highest rate.during.the 10 day guarantee period but it will not show until the end of the 10 days.
Just an update, this is exactly what happened. Opened on March 14th, today the interest rate adjusted back to what it was when I opened.
Just keep an eye out, 3 of my CDs adjusted back to the correct (higher) rate, 1 did not. Gotta watch 'em.
I had a similar issue. I used the online chat feature to bring this to their attention. The chat rep told me he's very sorry. I then asked him to not apologize just to fix the issue. He then told me, unfortunately, it's impossible. I then responded thank you for the help I've downloaded the conversation and will be uploading it to the consumerfinance.gov website when I file my CFPB complaint. 20 minutes later I received a message saying they would open a case for me. It's too bad that by the time they decided to "open a case" I had already filed a complaint with the CFPB. It's really very easy to file complaints with the CFPB -- took me less than 2 minutes.

Poorman
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Joined: Sat Jan 11, 2020 9:57 am

Re: Ally 1% bonus, up to $250, sign up by 3/23

Post by Poorman » Wed Mar 25, 2020 2:27 pm

I'm still getting 1.75% at a high interest savings account. Use up to like 6 times a month or something

Gertrude
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Joined: Sun Aug 26, 2018 2:10 pm

Re: Ally 1% bonus, up to $250, sign up by 3/23

Post by Gertrude » Thu Mar 26, 2020 7:28 am

Opened a no penalty CD at 1.75% on 3/15 and 3/16. The website showed these rates dipped to 1.55% once the external money was transferred into the CD. Rates were then readjusted back to 1.75% on 3/25 for the first CD and 3/26 for the second CD.

In addition to the email confirmation indicating I was signed up for the bonus, there is now a message at the top when I log in confirming that I am signed up for the 1% bonus.

Jack FFR1846
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Re: Ally 1% bonus, up to $250, sign up by 3/23

Post by Jack FFR1846 » Thu Mar 26, 2020 7:36 am

I opened mid March and funded $1k as I re-arranged other accounts. Put in another $24k yesterday. Funding can be done until the 31st of March. Here's the text of the email they sent me when I signed up:

you're enrolled! If you haven't already, don't forget to move net new funds (in other words, funds moved from another financial institution to an Ally Bank account) to a new or existing eligible Ally Bank account by 3/31/20.
Bogle: Smart Beta is stupid

justbpatient
Posts: 37
Joined: Mon May 08, 2017 4:06 pm

Re: Ally 1% bonus, up to $250

Post by justbpatient » Thu Mar 26, 2020 8:58 am

Flobes wrote:
Wed Mar 18, 2020 9:21 pm
the way wrote:
Wed Mar 18, 2020 6:55 pm
If you ACH, it'll show up in 1-3 days. I had to abandon one of my unfunded CDs when it estimated the ACH funds would show up 1 day late - I chatted with a rep who also said I would not get the locked rate, but would get the much lower current rate. She didn't sound certain though, so if you go thru with the ACH, please come back and let us know if the 10-day window was based on day-of-ACH-pull or funding-date.
CSR I spoke with was quite definitive.

If money movement is initiated at Ally within the 10 day window, then the rate guarantee will be honored. This specifically includes an ACH pull from an outside institution that is activated in Ally profile.

Although because of holds and ACH transaction times, my new CD may likely be issued at current rather than the promised rate. So it will require a follow-up, using the magic words "Best Rate Guarantee, Rate Adjustment" on the phone call, which will be simple and Ally routine.

However, he also emphasized that if the money movement was initiated outside of Ally, then the 10-day guarantee would not hold if funding did not settle within the 10 days. It's why he discouraged wire transfer from Vanguard. Or a push. And why I'm guessing that if anything goes awry with online/app deposit, it may not fall with the 10-day guarantee, because it started with me not them.

Moral of the story: understand how Ally counts days. Guarantee is 10 calendar days including the opening day, while ACH only happens on business days. If you start this on a Saturday as I did, the four of your ten days will be weekend days, where money movements will not occur, thus you have only six business days to make serial transactions. If you start with Ally on a Monday, you have eight business days to get it done.
CSR told me the opposite, that the 10 day guarantee is when the funds post and not when the request is made. I did make my request from my ally account. CSR did request that I get the best rate anyway, hopefully that goes through. Just FYI, apparently how this is interpreted varies by which CSR you speak with.

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HueyLD
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Re: Ally 1% bonus, up to $250, sign up by 3/23

Post by HueyLD » Thu Mar 26, 2020 9:51 am

From ally.com:

“ Does Ally Bank's Raise Your Rate CD come with your Ten Day Best Rate Guarantee?

Yes. The Ten Day Best Rate Guarantee gives you the best rate we offer for your CD during the first 10 days starting with your open date if you fund your CD within that time. The Ten Day Best Rate Guarantee also applies at renewal.

Key phrase: “starting with your open date.” And of course you must put real money in your account within the ten days window.

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amp
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Re: Ally 1% bonus, up to $250

Post by amp » Thu Mar 26, 2020 9:56 am

justbpatient wrote:
Thu Mar 26, 2020 8:58 am
CSR told me the opposite, that the 10 day guarantee is when the funds post and not when the request is made. I did make my request from my ally account. CSR did request that I get the best rate anyway, hopefully that goes through. Just FYI, apparently how this is interpreted varies by which CSR you speak with.
It's been 10 days since my account was opened, and the dashboard now shows a 1.75% APY instead of the 1.55% it showed previously. The rate had dropped the day after it was opened and before it was funded. I didn't have to do anything, the new rate just appeared this morning.

But in case you do have any issues, here's some verbiage direct from the Ally site which you can direct the CSR to.
our CDs are backed by our Ten Day Best Rate Guarantee, which gives you the best rate we offer for your CD during the first ten days starting with your open date if you fund your CD within that time.
https://www.ally.com/do-it-right/bankin ... s-for-cds/

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nps
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Re: Ally 1% bonus, up to $250, sign up by 3/23

Post by nps » Sat Mar 28, 2020 11:36 am

Gertrude wrote:
Thu Mar 26, 2020 7:28 am
Opened a no penalty CD at 1.75% on 3/15 and 3/16. The website showed these rates dipped to 1.55% once the external money was transferred into the CD. Rates were then readjusted back to 1.75% on 3/25 for the first CD and 3/26 for the second CD.

In addition to the email confirmation indicating I was signed up for the bonus, there is now a message at the top when I log in confirming that I am signed up for the 1% bonus.
I don't see that login message. But I did get the email confirmation.

bandoba
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Re: Ally 1% bonus, up to $250, sign up by 3/23

Post by bandoba » Sat Mar 28, 2020 12:12 pm

nps wrote:
Sat Mar 28, 2020 11:36 am
I don't see that login message. But I did get the email confirmation.
I don't see it either!

Gertrude
Posts: 11
Joined: Sun Aug 26, 2018 2:10 pm

Re: Ally 1% bonus, up to $250, sign up by 3/23

Post by Gertrude » Sat Mar 28, 2020 12:20 pm

I see it in the snapshot view. Also if I am on an iPad I have to flip it horizontal to see the message.

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