ALLY bank

Have you see commercials for Ally bank? It is an online bank, like ING. I have seen more Ally commercials popping up recently. Perhaps it is because they are trying to attract people to put their tax returns into an account. Or maybe they just want to get the word out that they have great rates.

Speaking of great rates, I do currently use an ING account as my $10k challenge account. I have had it for years - I think I was still living in VA when I opened it. ING has great rates compared to my local credit union. No, I can't get my money on the spot with ING, but I have not had a need to do that in the past 6 years or so. I think I am good on that front. ING does offer a checking account where you can have an ATM card, etc., I just don't use their services for that.

This morning I decided to check out what this Ally bank was all about. I went to their website and they have better rates than ING. Hmmmm... I dug deeper. Ally not only has better savings and CD rates than ING and my local bank, but also better checking account rates. In fact the rate is about double that of my local credit union. Ally also has no minimum balance required on their accounts.

So what did I do? I opened an Ally savings account and an Ally checking account. I will not use the checking account for bill pay and such yet, but the option is there if I choose to do so. I also get an ATM Debit card for free and I can use it at ANY ATM and they refund all ATM usage charges.

I hate to say this, but I think this might be a better situation than my local credit union. I might actually try to use the Ally account to it's full potential for a bit to see how it goes.

Check out ING and Ally to see if they can help you save more money!