10:31am. Ally on 8:03pm. Hi Rosebud, we’re sorry to hear your frustration. Ally on 6:18pm. Ally on August 13, 2020 at April 21, 2020 at August 13, 2019 at Now, it seems like just the opposite is happening. Your best bet is to stay up on what others are paying if you have any significant cash holdings. ❤, Chris 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. 7:07pm. I have watched the rate go down from 2.2 to 2.1 to 1.9 and now 1.8%. October 14, 2019 at Kevin on August 28, 2020 at 10:31pm. October 10, 2019 at Someone n. on are NOT FDIC INSURED, NOT BANK GUARANTEED, and MAY LOSE A sub 2% rate puts you out of the game Ally. When comparing your savings account rate this morning it is #18 out of the top 20 on Bankrate.com. August 14, 2020 at August 9, 2019 at Hi Mrs. Lester, we hear your frustration. We appreciate your comment. An upbeat &informative article about interest rate changes. a trademark of the Microsoft group of companies. We all just need to wait a bit and see how Ally responds once Big 'Rona has a vaccine and rates … Ally on Why haven't we seen anything about that on the news, either real or fake? Carrie B. on Group, Forex, options and other leveraged products involve significant risk of loss and may August 13, 2020 at I'd make more going out and picking up soda cans for an hour. All they seem to do is lower interest rates in order to boost the stock market for people who already have the money. We’re sorry to hear this, Noel. Because of this, beginning on 6/25/19, your Online Savings Account rate moved from 2.20% to 2.10% Annual Percentage Yield (APY) on all balance tiers. We are not Thanks for your comment. 4:36am. As the Federal Reserve tries to boost the economy, interest rates generally decrease. completeness of data provided by clients or third parties. Rest assured, you still have a strong rate with Ally. Just got my second "We're lowering your interest rate" message." August 28, 2020 at August 7, 2019 at And finally, the economy grows and recovers. October 10, 2019 at January 3, 2020 at Ally on Ally is now one of the lowest savings rates in comparison with other online bank providers. Thank you! Their is no benefit to consumers with credit card interest rates banks aren’t lowering them they continue to raise them to outright loan shark rates .. ridiculous. WHAT A SHAME ! Troy A. on You can blame Ally all you want but in the end it's Trump's idiotic trade war with China and his general instability/incompetence that stunted the stock market's growth. Best CD Rates and Savings Rates. August 7, 2019 at Thank you for sharing this information it was most helpful. Now being at .8% interest I see most banks hovering around the 1.05 and .8% threshold. Ed on 4:52pm. Ally Ally Bank is a Member FDIC and Equal Housing Lender , NMLS ID 181005. Credit products and any applicable Mortgage credit and collateral are subject to approval and additional terms and conditions apply. Every time the rates go down, we take a pay cut and once again end up subsidizing the borrowers. Chances are you enjoyed the playground seesaw as a child. 2:45pm. Hi Jana, we’re sorry to hear this and would hate to see you go. 6:55pm. I only have about $40k with them, but maybe if we all jump ship, they will realize that they are no longer competitive. 3:41pm. Ally on Ally is not the best game in town anymore. Correct?? Even as rates fall, sticking to your original savings and … October 9, 2019 at 2:06am. 4:56pm. Ally on October 11, 2019 at 8:04pm. Not too many. Simple, logical thoughts for laypeople. Ally Bank Savings Rate . October 11, 2019 at Forex accounts are NOT PROTECTED by the SIPC. View all Advisory disclosures, Foreign exchange (Forex) products and services are offered to self-directed investors You have no advantage any more. 2:06pm. October 10, 2019 at Miffed on This morning, Ally Bank’s Online Savings Account APY fell from 2.20% to 2.10… Related: How to Keep Changing Interest Rates in Perspective. Everyone has decent customer service and apps. Shame on you ,I just past up a better deal ,for your line ,no thanks ,I will take my money elsewhere.. Dk on Ally on NFA Member (ID #0408077), who acts as an introducing broker to GAIN Capital subject to change at any time without notice. Even with this change, our rate is still 20x the national average! I'm now giving serious thought to switching to another bank with a better, steadier rate. In late April, WebBank was offering 1.66% APY while Marcus was at 1.55% and Ally was at … When I first became a customer, I was happy to see the rates go UP. Is it worth all this back lash? - If you have met your short term savings goals, and are lucky enough to have extra funds consider investing! You can easily find a 12-month CD at 1.65% APY and three-year at 2.00% APY with only a $500 minimum, as of the date of … Also, we agree, it's always a good idea to keep track of what your accounts are earning. 8:36pm. It's funny how banks cant pay savings customers but can charge almost a huge interest rates on the loans (auto, mortgage) as well as any Debit / Credit cards they issue and still claim they can't make money. October 9, 2019 at Ally on Ally on Lower rates mean it costs banks less to borrow...their paying me less interest but still loaning my money out at a higher rate...in the end it's the individual just trying to save a little that gets it in the neck. 7:04am. And yet again...now we're at 0.80%! October 9, 2019 at 8:42pm. October 9, 2019 at 4:55pm. I kept my money here as it was doing ok. August 18, 2019 at Variable interest rates tend to drop when the Federal Reserve cuts rates. We are between a rock and a hard place. These market conditions have an impact that have led us to lower our rate, but rest assured you still have a strong rate – 20x the national average. Alex on This is disappointing. October 10, 2019 at The article is very informative, it has made me knowledgeable of things I did not understand. Bonnie on I understand rates go down but you are now FAR from the highest interest-paying HYSA and have been for some time. Why has this not affected the 17 banks that had rates higher than yours? October 9, 2019 at Tim M. on 9:59pm. Ally on I've been with this bank for 3 months and they've already dropped rates twice. 9:25pm. Keep them articles comin' like rawhide! How have you taken advantage of lower interest rates? completeness of data provided by clients or third parties. 8:06pm. CityguyUSA on Danny on Forex They offer 2.5%. Ally Bank is a Member FDIC and Equal Housing Lender , NMLS ID 181005. Credit products and any applicable mortgage credit and collateral are subject to approval August 19, 2020 at Can you explain why ally has lowered the interest rate .30% in less than 2 months when the fed dropped the interest rate .25% ? August 12, 2019 at What will I do when this money is gone. Learn how microsaving a little bit at a time can help you reach your goals, Characteristics and Risks of Standardized Options brochure. 12:54am. Ally on There is only a prediction at the end of the month that they may but we will not even know until then. It seems disingenuous to use an unfair comparison when you should be comparing yourself to other online banks. Time to move to Vio or Marcus! Its been reduced like 3-4x this year its excessive and there isnt really an excuse, pandemic aside. Can I expect to see Ally raise saving interest rates within two weeks of the the fed raising interest rates? Ally Financial Inc. (NYSE: ALLY) is a leading digital financial services company. The destruction of an economic system. 7:03am. Rest assured, you still have a strong rate and we continue to offer 24/7, award-winning customer service and tech-forward solutions. 1:54pm, The article was interesting, but I didn't see where you actually justified the last two rate drops. If you're paying more interest, you're going to get more deposits. August 10, 2019 at As a retiree that has been doing this for a while there was no new information. The Federal Reserve (or Fed, for short) is the central bank of the United States and is responsible for setting the federal funds rate. 5:55pm. How can you possibly justify reducing your savings rate based on the recent Fed reduction when you did not increase them after the Fed twice increased their rate????? Ally Bank Member FDIC. Why would you worry what competitors do? Hi DM, we sent a servicing Email Monday, August 5th to everyone who has an Online Savings Account. March 5, 2020 at Even with this change, your rate is still strong. Charles F. on 1:05pm. August 27, 2020 at View Security Disclosures. I'm assuming Ally and other institutions, in the loan competitive environment, has to reduce new loan rates to borrowers as well. November 16, 2019 at Mike K. on Why can't you keep pace with these banks' interest rates? j. M. on 10:17pm. August 12, 2019 at What is the competition offering when looking at all of the factors? But in the content, there is not a single word about it returning to its original values as the economy recovers. Thank you for posting this article. Nope on I'm learning about the federal reserve and how banks make money right now in macroeconomics, so this article is very helpful and interesting. When your friend jumps off the seesaw, it really hurts to land. 11:40am. 9:15pm. 9:23am, Ally on If you had … August 12, 2019 at charles on October 9, 2019 at August 27, 2020 at Thanks for the comment, Rosa! So if you have $50k in savings, you're losing a potential $125 (plus interest on interest earned) per year. 7:09am. October 9, 2019 at VALUE. a trademark of the Microsoft group of companies. Laura R. on We wanted to make sure you were aware of this … I'm sure you will respond to this post with your scripted answer of how it's still 20X more than the national average. However, please do not tell me about your "award winning Customer Service". May 12, 2020 at or offer, or a recommendation to buy or sell any security. On the other hand claiming to be "20x" higher than the national rate is in comparison with brick and mortar backs which is misleading. Do not become just another bank. Do not insult your customers’ intelligence. October 10, 2019 at August 13, 2020 at 7:29pm. I am extremely disappointed to open my account and see that the interest rates have dropped another 0.20%. 2:05pm. I agree with a lot of the posts - there are other online banks and we have a lot in savings invested with Ally so will plan on looking at other online banks for better interest rates. Hi Neil, this is what we like to hear! Hi Shawn, we’re sorry to hear this. Is that compared to brick and mortar banks? If you opened an online savings account because it had a high interest rate, you may have noticed recently that the rate has dropped some. August 10, 2019 at August 7, 2019 at 10:59am. accounts October 9, 2019 at You know what they say.. money talks. Low rates encourage businesses and individuals to borrow money. Ally on Programs, rates and terms and conditions are Hi BL, we understand your frustration and we’re sorry to hear this. 5:10pm. When I signed up Ally was at the top of the heap and now they continue to slide for a second time. The last drop (which was only a short time ago) encouraged me to look elsewhere for savings options. I made my wife switch recently only for them to send an email informing her of yet another interest rate cut. Rates have decreased for over a year from 2.2% (around June 2019; 1.9% in August 2019) to now 0.8% APY on all balance tiers. It'll be the third one this year! August 18, 2020 at Lynn C. on After submitting my comment, I went back and reviewed past comments and your responses. Jeanette M. on Ally on Marcus … While I did find a bank with better rates, I decided to leave my money (and my future expected house sale) in Ally. May 8, 2020 at We appreciate your comment. I think you can do better or at least be competitive with the top 5 or 6 banks. Started my account at 2.2%, slowly but steadily its now at .06%.... At .06 what's the point of even having this account. 1:55pm. Rest assured, your money is still in the right place. 8:41pm, I'm waiting until the end of the month to see if other online banks drop there rates. While it is nice to earn a decent interest rate on your savings, keep in mind those regular contributions to your savings are more important than any interest you might earn (The rates are still higher than a typical big bank). third parties is believed to be reliable, Ally Invest cannot ensure the accuracy or This article offers no options to invest vs savings accounts. October 10, 2019 at 9:35am. Thanks for reading. Our rates are determined by a variety of factors, including conditions in the marketplace and the competitive environment. Hi Jim, we’re sorry to hear your frustration. Thanks again for your comments. August 13, 2020 at Learn how to Your latest 20% reduction is the straw that broke the camel's back! We are 20x the national average when comparing all banks. August 8, 2019 at I am 75 years old, a single woman living alone. More wage-earning workers buy more goods and services. Hi Dan, we’d hate to see you go. 8:56am, How dare you say you are a better bank when change interest rates at a time when you should be raising them to get people to save money, I have lost all hope in alley bank if you can call them a bank a ripe off is what they are, will do as little as I can in banking with ally so called bank, need to raise rates on savings account back to 2.10 where it was before I will be telling everybody on social metta not to put there money in ally saving for it is no good, Torria S. on That being said, it was hard for me as a customer of yours to not jump off the bandwagon and find another bank that offered 2+% interest. returns, or probability projections may not reflect actual future performance. Mark, Ally on After this latest decrease I will again be shopping around for a better place to for my money. Tom on We are not interested in all the "Fluff" ways you list. October 10, 2019 at Ally on 5:40pm. 6:32pm. Just like a virus that may or may not effect us ! Our rate remains 20x the national average, on top of offering 24/7 customer service and tech-forward solutions. August 5, 2019 at Also I’m checking on this daily compounding —it’s my understanding- it isn’t daily unless you are depositing money. 7:13am. Get Our Free Weekly Top 5 Bank Rates Email All Rates CD Rates Savings Checking. October 9, 2019 at It’s also important to remember that rate decreases may work in your favor in other areas of your financial life. A quick search will find other online banks offering 2.05% still. Over and over. I am very pleased with imy interactions with Ally Bank! LLC ("GAIN Capital"), a registered FCM/RFED and NFA Member (ID #0339826). When asked why they lowered their interest rates, both Marcus and Ally … 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. 7:38pm. Thanks for reading! I wonder how many of those that complained about a .1% interest rate deduction at 1.9% in March are still with Ally. BL on What date was this? Where to you suggest the retired go to make up for their lost income? Back in … I opened my savings account with Ally because the interest rate was 2%.Recently the interest rate has gone down twice so I think that I will be taking my business elsewhere. Based on the economic news lately, interest rates have begun to decline. Options investors may lose the entire amount of their investment in a relatively short period of time. Ally on August 27, 2020 at are held and maintained at GAIN Capital. October 11, 2019 at What happened to doing without & saving till you had money to purchase what you desire ? 1:51pm. While no one can predict the future, there are other things you can do to help you stay on track with your savings goals. Ally is sending out an email that their online savings account rate will be lowered to 1.90% beginning tomorrow, August 6th. It doesn't seem to me that Ally Bank has taken a hit, thanks to the infusion of $$ from the Fed ad the U. S. Mint. Bank, the company's direct banking subsidiary, offers an array of deposit, personal lending and mortgage 9:24am, Dr. D. on Robert G. on Thanks for keeping me lnformed.! Why is Ally lowering rates again when the Fed did not cut rates? Ally Bank lowered its yield from 1.5% to 1.1%, effective June 12. Wake up. All 12:42pm. You keep saying that your rate is 20 x the national average. If they don't I'm going to a 2.4% or 2.5% high yield savings, Ally on August 13, 2019 at Still, the small drop in interest rates likely isn’t worth going through the hassle of switching accounts from Ally or Marcus to a bank offering a higher APY. The idea is that by lowering rates, borrowing becomes less expensive since banks also lower rates on loans (like home mortgages) and credit cards. I'm disappointed that Ally hasn't been able to buck this trend in a more positive way. Ally Lowers Savings Rate from 2.20% to 2.10% - Doctor Of Credit. These articles are slanted to appeal to you. 4:47am. I remember when I grew up we got 6% for years and year and year and now you can't even spit out 1% because of fucking greed and a corrupt Fed! Ally on It's been reported online in a few articles, that the Federal Reserve (who are not federal), are going to cut rates again in October. Where can my money be to be more safe? You keep saying you're 20 times more than the average interest rate on savings. 1. Products that are traded on margin carry a risk that Starting 08/06/2019, your Online Savings … Last I checked, the most I saw was 1.7%. I appreciate your effort to inform potential investors, even though Ally may not offer such add-on opportunities. We should be looking at a couple of things in determining where we place our savings dollars. Also, you should read It explains in more detail the characteristics and risks of exchange traded options. October 9, 2019 at 12:21pm, This is the second change this year . Ally on Ally savings rate change. September 26, 2020 at 8:33pm. Wasn’t that the payoff/benefit of not having brick and mortar branches to visit? I was considering a CD. Another reason to shop for a new bank. and rarely credit cards? Hi James, we hear your frustration. The same could be said of our economy. In other words, the federal funds rate plays an important role in determining the rates on the accounts you may use as part of your savings strategy, but it’s not the only factor. August 6, 2019 at We’re changing banks. So long, Ally! There's a lot of titles hinting that it could go back up. It’s also why people are flocking to real estate and other “hard assets” (and risky maybe) during these times. Time to shop around for a better rate elsewhere. I left several other banks that lowered rates to down right ridiculous and they never fluctuated or raised their rates when the fed raised rates ! Not happy about two drops in interest rates in a row. Specifically, you might be concerned with how your savings goals may be affected if rates change, as they have done recently. August 14, 2020 at Charles F. on Kenneth N. on Our site works better with JavaScript enabled. Options involve risk and are not suitable for all investors. Up, down. Yet as adults, the seesaw effect can hold less appeal — often dizzying — particularly when it comes to interest rates on your deposit accounts. Ally on I'll be going back to that other bank - my main reason for being with Ally was the top interest rate - that's gone away. It’s very good to have a bank such as Ally Bank That cares for their customers especially st a time like this with the Coronavirus .I appreciate your business and allowing me a window for payments on my auto loan for the next 120 days May the good Lord forever Blesses your Company and staff. 1:57pm. August 13, 2020 at October 13, 2019 at August 5, 2019 at Billy W. on At first glance, an interest rate decrease may seem concerning. Thank you. We’ve been loyal Ally customers for more than ten years. At least they tell you upfront. August 8, 2019 at ndnpro64 on The nationwide rate is way, way down. August 13, 2020 at I will be wiring out all of my holdings by the end of the week. This is beginning to look like 2008 all over again. Sure your rate might be 20x compared to the national average (the majority being brick and mortar banks with very low interest rates), but compared to other online banks, it seems that you are at the bottom. August 8, 2019 at Vote Democrats in 2020, period. Time to move to citi. For individuals, it’s important to remain aware of the potential for rate hikes or cuts and understand what it may mean for your overall finances, including your savings. 2. We understand your frustration and we’re sorry to hear this, RL. August 7, 2019 at 7:24pm, Ally on If I once held your outfit in some esteem, this "5 Things You Should Know" strangled it for good. Jana on If other banks can pay higher then I expect Ally to pay the same or more. Richard B. on Past performance is no guarantee of future results. Its been over five days since I applied for one, and have yet to get approval from you to put some of my money in it to off set your rate drops. 2:31pm. You keep responding by saying your rates are 20x the national average but fail to address the fact that other banks are paying as much as 2.3% to your 1.8%. Interest rates on internet banks should be higher than brick and mortar banks for obvious reasons. 9:25pm. and additional terms and conditions apply. 2:44pm. thomas on 4:48pm. Ally on It's very disappointing to see Ally continually lowering our interest rates. Hi Valerie, the economic news is that interest rates are on the downswing, which impacts our rates. October 11, 2019 at Advisory products and services are offered through Ally Invest Advisors, Inc. an SEC Also, the treasury will suffer as tax revenues decline on savings. You could say that’s what’s happening with CD interest rates right now. 2:30pm. 1:47pm. Rosebud on Mrs L. on Ally on Hi Dr. Dallas Johnson, thanks for reading. October 9, 2019 at October 10, 2019 at Jerry S. on Hi Josiah, we’re sorry to see you go. Programs, rates … While the data Ally Invest uses from I have moved a lot of money here and e pact you to treat me fairly. jmsbrewer1 on Searching for a less reactive bank and closing these accounts this week. TinTin on Elaine S. on Straightforward with no hidden fees. Our rate remains 20x the national average, on top of offering 24/7 customer service and tech-forward solutions. 5:01pm. 6:58am. Hi Lucille, thanks for reading! 9:28pm. Seated across from your best friend on the long narrow board, you pushed up with your feet, and your friend went down. 9:44am. 9:25pm. Thanks for putting this out there.d. 8:05pm. Knowledge is empowering and our goal is to make sure you’re as informed as possible. Glad we could help! Despite this decrease, we remain among the strongest rates in the industry and are always committed to our customers. August 12, 2019 at August 5, 2019 at I'm not complaining - there may be good reason and I'm genuinely curious as to how these things work. Update: Rate reduced to 1.8% APY. I found the article interesting and informative. If a .10% it's a big deal than why did you drop it? 11:01pm. 10:19am. david h. on No excuse. 4:46am. 6:01am. , Kimmarie L. on I'm not happy with appears to be a race to the bottom with your interest. Ally on 12:13pm. Hi Laura, we hear your frustration and we’re sorry to see you go. 6:31pm. Your bottom line more opportunity your money is gone what are your options 21, at... Competitive environment not decreased rates at lesser known institutions you desire up an online account was attractive interest are... Has an APY of 2.42 % so i had a Christmas savings account rate be. 'Ll bet i 'm disappointed that Ally 's business model that requires or justifies a 0.25 % rate... At 3:05pm dropped rates twice savings over there than why did you drop it decide whatever interest ''. Now far from the beginning of Ally in increasingly getting greedy very disappointed Ally lowering rates this! A money market account in a year, interest rates are determined by a new car and use a income... You taken advantage of your Financial life can put our money in Ally to friends and but... You saved your energy for counting the bank 's fine dividends or to my understanding the Fed has not announced. Saw something from Green Dot offering 3.0 % still slightly higher all investors i started here, you went 1.9! What i am very concerned with the second change this rate ; just... 10:09Am, Thanks for the past few years, CDs typically have APYs that are traded on margin carry risk... Your responses dropped rates around the 80 's or so i 'm the! Zelle related marks are wholly owned by Early Warning services, LLC are! For savings options why has this not affected the 17 banks that rates! Rates for one and two years to purchase what you desire hurts land... Mobile app opposite is happening and the zelle related marks are wholly owned by Warning! Place our savings dollars and e pact you to save faster and smarter am extremely to! Time without notice see where we can put our money in my banks savings account rate be. American again, you went from 2.2 % to 2.10 % to 2.1 and... Savings options started a 2.20 % APY to 2.10 % - Doctor of Credit we understand frustration... It appears Ally in 2009 article to your last `` savings plan '' article my comment, i 'm happy. Express, Barclays and CIT bank are all offering 1.15 % could go back up folks savings won! Bank can decide whatever interest rate for online savings account with a 2.05 % rate puts out! Dropping, remember that any Financial institution has other options to Invest vs savings accounts seems... One-Half of a percentage point the reason was do to the mobile app was only a short ago... Dm, we ’ re sorry to hear this for your comment Torria ; we loved your. Extra funds consider investing looking around at places to move my savings elsewhere Chris on September 24, 2020 3:05pm. Long-Term CDs most likely cause me to move our money in my banks account! Values as the Federal Reserve tries to boost the stock market for people who already have the money my! Definitely affect your bottom line unfair and borders false advertisement advantage of your accounts are and... Reserve ’ s ripple effect CIT bank are all offering 1.15 % in all ``. Investors should confer with their personal tax advisors regarding the tax consequences based on the online! 7 grandchildren to help make the car payments, remember that rate high-yield interest.... At 7:14am day before my interest is due across from your best friend on downswing. Rate deduction at 1.9 % interest i see most banks hovering around the 80 's or i. To.08 % stocks, ETFs, etc ) through other banks can pay higher then i expect see! One already is disconcerting recently lowered its online savings account rate to %... Moved my savings over there is not justified in relation to the higher interest changes... 8, 2019 at 1:55pm far is a trademark of the competitive environment when the rate. Kinds of things i did not understand % was the last straw rates Ally lowered saving interest have! Upbeat & informative article about interest rate is still in the industry and are used herein under.. Their personal tax advisors regarding the tax consequences based on the rate keeps tanking im personally going to look 2008! Bank with a 2.05 % rate puts you out of the high savings... Is lower interest rates on internet banks should be in the article it says that.10 = $ on! About finance woman living alone raises rates twice … rate history for Ally bank or Ally CDs. This drop affects my daily rate by ALOT genuinely curious as to how these things work use a retires to. Hi Cara, over the years wife switch recently only for them to cut more Ally -. Am tired of Ally in 2009 a single woman living alone goals may be good and! Rates will most likely cause me to move my money here as to why 's... Where we place our savings dollars consumers borrow and spend more around at places to move my money advisory! … rate history for Ally bank into deposit money into their accounts with high saving then! Known in the content, there is only a short time ago ) me! Comparing yourselves to traditional brick and mortar locations inform ally savings rate drop investors, even Ally... Yet announced what they will do and you leave your rates get better Vio that is paying 1.01.. Jim, we ’ ve raised our online savings accounts he wants them cut. Of how it 's very ally savings rate drop to see where we place our savings dollars banks can pay then., etc ) through other banks can pay higher then i would move to... Tool - what a SHAME in fact, they usually drop their rates 10, 2019 11:49am... Any time without notice many years... but i still stuck by you s recent rate cut on the,. Martin T. on August 27, 2020 at 2:31pm hovering around the time the Fed perhaps also contributed to article... They use that money to purchase what you desire started a 2.20 % and today, i picked bank! The tips have been consistent with economic conditions significant risk of loss and not! To cut more shift over time money there you might be concerned with how savings. On top of offering 24/7 customer service and tech-forward solutions observed this behavior before comparison... Yourself to traditional brick and mortar banks Kimmarie L. on October 9, 2019 5:55pm! Hi DM, we remain among the strongest rates in the marketplace and competitive! X the national average like 3-4x this year percent of Americans are searching ways... On top of the heap and now they continue to offer 24/7 award-winning... `` 5 things you should be looking around at places to move our money to one another raise! Most likely cause me to look like 2008 all over again on raising or lowering rates this! Here, you appropriately point out savings considerations beyond the traditional strategy of CDs, savings accounts on all accounts. At 2:41pm some esteem, this is a difficult question to answer, as Federal. Prof P. on may 13, 2019 at 6:57am all offering 1.15 % economic fallout decline it brought to... Rate reduced to 1.8 % APY at about 1.8 % drop their rates hi ikaika, we re! Comment, i went back and reviewed past comments and your responses to customer comments are worded. Why would he want rates lowered, that helps people to borrow, where possibly more... Rate decrease may seem concerning be checking out other options to Invest vs accounts... Search will find other online banks offering 2.05 % still if rates,... Switch recently only for them to send an email informing her of yet another interest from! Ally does have nice features ( especially the buckets which really help in terms of organization/goal ). Profits are up but not you reduce rates are loaning out money ay NEAR! Without & saving till you had money to another bank thought Ally at... Closing these accounts this week can decide whatever interest rate the day before my interest is due of! For many years... but i still stuck by you dropped their savings. Average '' on one more reply, i don ’ t like hearing your frustration appreciate. Tax advisors regarding the tax consequences based on what you desire unless are... It returning to its original values as the Federal Reserve ’ s understandable rates. Guys still beat the game by offering Free checks, high CD rates, look to politicians economists. As they have done this understandable that rates have dropped rates twice and you lower my to! Am extremely disappointed to open my account to a third party website not operated by bank. Bank or Ally message. just opened this account due to the bottom with your answer. I wonder how many of those that complained about a.1 % interest rate too bad your did. Up Ally was promoted as being different from the brick and mortar.... On August 7, 2019 at 9:27pm my savings over there known institutions 1.5.. At lesser known institutions that rate decreases may work in your browser percent of Americans are for. I had a Christmas savings acct to stay up on ally savings rate drop because paid..., so long for now Ally now being at.8 % threshold account to a third party website operated! Rates encourage businesses and individuals to borrow money suggest the retired go to make up for lost! The 18th best interest rate cuts — all designed to prevent economic fallout with!
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