I was browsing around CNBC today and noticed an interesting ad for a bank I had never heard of before, Ally Bank.
Ally = GMAC Financial Services
Their website design is quite modern and I spent some time digging around the site. Apparently, Ally Bank is the new branding for the old GMAC Financial Services.
GMAC will use the new image as a way to attract retail deposits, which will be a key funding source during the continuing credit squeeze as it tries to fill an $11.5 billion capital hole, as revealed by bank stress-test results, the newspaper said. – From upi.com
Nice Savings Rate
They are offering a 1.95% online savings account which is nearly .25% better than what I’ve seen from the major online banks. That’s pretty sweet….but from GM? Would you really trust your money there? Of course it’s FDIC insured…but still, it makes me a little wary.
Well, I like the design, so kudos there. And hopefully that 1.95% rate won’t drop like a rock like most savings accounts have in the last year. See Ally Bank CD Rates.
Sign up for a 2.00% savings account at Ally Bank: >>Click HERE
or earn more like 9% (that’s my average earnings rate so far) at Lending Club.
{ 9 comments… read them below or add one }
“And hopefully that 2.25% rate won’t drop like a rock”. I don’t know if you did that intentionally or not but I thought it was pretty funny since GM used to use the Bob Seger song “Like A Rock” for the Chevy Truck ads!
http://www.youtube.com/watch?v=IocCC1-jeTY
I second your hope that they won’t drop the rate along with dropping the old name. GMAC Bank has had very competitive rates for quite some time, and have been at the top of the pack for about a year now. Their service is good, except they don’t offer electronic statements. Hopefully that will change soon.
WELL, IT ALL SOUNDS REAL GOOD AND INVITING BUT YOU CAN NOT NAVIGATE THEIR WEBSITE FOR MAKING APPLICATION. AT LEAST I CAN’T
What is your snail mailing address? Are you the Ally Bank in Pennsylvannia or Utah?
What is your snail mail address. Utah or Pennsylvannia?
The rate is now showing 2.05% 2 weeks after!
Don’t do business with Ally Bank!
My wife and I tried to open a CD account with them. After several back and forth phone calls and requests to establish our residence and mailing addresses (in addition to our original paperwork and copies of our drivers licenses they wanted utility bills and a copy of our PO Box receipt), we told them to return our money. Their customer service said they would send our original check back. They didn’t. We never had an account with them but they cashed our check. Our bank statement showed the check was paid.
When I called to ask why my check was cashed, no one could explain. They told me that they would send my complaint to an escalation team for immediate resolution and they would call me back with the results 2 days later. No one ever did. When I called them to find out the status of my check, I was told that my account was pending and that in 5 days or so, they would review the matter. After yelling at the CSR, I was put on hold and eventually told by the rep that she made a mistake, my check was already mailed. I would have it in 7-10 working days.
A few days later, Ally called me again. This time, I was told that I would have to prove that the check had been cashed in order to receive a refund. So basically, they never opened an account for me, they cashed my check, lied to me that they had already refunded my money, then called me and told me that I had to prove my check had been cashed to get a refund. This is after they acknowledged receiving the check and accidentally cashing it. They knew the check number and the amount but still no refund. Unbelievable.
In all, they’ve held my money hostage for a month. Someone either lost or stole my check and they won’t give my money back yet. Don’t give this company your business.
After hearing/seeing the caveat with the Cash For Clunkers software (government comprehensive intrusive and tracking of participant’s computers and information), I have grown suspicious of “ALL THINGS GOVERNMENT” directly aimed at the consumer market. Does the govt. gain control of private info, or access to all of your financial info via your account with them? Are you required to sign a waiver of your rights (more than is already agregiously violated in conducting routine necessary financial business)? The great interest rates and free services are alluring, but there is ALWAYS a price to pay for this.
I think the TV ads for Ally Bank using children to promise something and then not give it to them are cruel.Those children are not acting . Do grownup ad people think it is cute to see children have their feelings hurt and then film it?