The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: purple monkey on August 06, 2016, 05:43:39 PM
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Looking to open one for the 1% interest.
Are there any blips with this?
Anyone have a referral code or suggest a different bank or place?
TIA
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Ally Bank is really straightforward. I've been happily banking with them since 2009. I don't think they have any special referral codes for regular savings, money market, or checking accounts.
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Ally's great. I haven't used them as long as LeRainDrop, but I've been happy with them.
If you want to jump through hoops, you can earn 3% interest with a checking account at Consumers Credit Union. The first three hoops are easy, but it's the last one that trips people up- 12 debit card transactions per month. I send money to my friend with Square Cash using my debit card, and he sends it back (he also has a CCU account). Sadly I don't know of a way to automate this.
If you are interested in this setup, I can refer you to Square Cash and we'll each get $5.
ETA: Consumers credit union is cool in that you can even do cash deposits despite it operating as a mostly online only credit union. They're part of the Co op network of credit unions. There's 30k ATMs nationwide, and you can deposit cash at any of these ATMs and the cash will show up in your consumers credit union account.
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Ally's awesome. Love the fact that their checking accounts reimburse ATM fees too, so I always use their card when I'm travelling.
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Ally has been great for me.