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Learning, Sharing, and Teaching => Investor Alley => Topic started by: NewDay1 on January 21, 2019, 07:26:18 PM

Title: Ally or Barclays online banking - your thoughts?
Post by: NewDay1 on January 21, 2019, 07:26:18 PM
Any opinions on using online banks such as Ally or Barclays?

Savings rates are much better.

Your thoughts?

Thank you.
Title: Re: Ally or Barclays online banking - your thoughts?
Post by: sailinlight on January 21, 2019, 07:51:15 PM
I use Barclays but just be aware that they don't support wire transfers. Also there are daily transfer limits which are quite low like 5 or $10k. I dont' have any recent experience with Ally.
Title: Re: Ally or Barclays online banking - your thoughts?
Post by: MustacheAndaHalf on January 21, 2019, 08:24:19 PM
Ally has offered high online savings rates consistently, and I like their web interface.  It's very easy to see your accounts and move money around.
Title: Re: Ally or Barclays online banking - your thoughts?
Post by: Catica on January 22, 2019, 03:22:04 AM
I used Barclays for several years and it was fine, but I just moved all my money out, as there are banks that offer better interest rates than Barclays and Ally.
Title: Re: Ally or Barclays online banking - your thoughts?
Post by: GizmoTX on January 22, 2019, 03:38:35 AM
We’ve used Ally, Synchrony, & CIT — all good. They vary on interest rate over time.
Title: Re: Ally or Barclays online banking - your thoughts?
Post by: Rob_bob on January 22, 2019, 07:45:13 PM
I use Ally and also their no penalty CD's.
Title: Re: Ally or Barclays online banking - your thoughts?
Post by: Steeze on January 22, 2019, 07:51:13 PM
+1 Ally . Only Inconvenience is of you need to deposit cash for some reason.
Title: Re: Ally or Barclays online banking - your thoughts?
Post by: HBFIRE on January 22, 2019, 10:38:47 PM
I've used Ally for many years and it's been a good place to occasionally park emergency funds. I like that they always stay competitive with the top rates.  Some banks use teaser rates then don't stay as competitive, this has never been the case with Ally.
Title: Re: Ally or Barclays online banking - your thoughts?
Post by: sisto on January 24, 2019, 12:27:44 PM
We like Ally. That's where we keep our emergency funds. They just raised the rate too. :)
Title: Re: Ally or Barclays online banking - your thoughts?
Post by: therethere on January 24, 2019, 12:34:24 PM
Depends what you're using it for. If it's just for savings they are great and no hassle.

If you're looking for a checking account it depends on the features you need. If you want it for ATM's and you travel internationally ever I would not recommend them. They always shut down my card.
Title: Re: Ally or Barclays online banking - your thoughts?
Post by: confused101 on January 26, 2019, 12:14:57 PM
10K or above, Capital one has a promotion right one for its savings account. You get extra 200 and interest is 2%
https://www.doctorofcredit.com/capital-one-200-money-market-account-bonus/
Title: Re: Ally or Barclays online banking - your thoughts?
Post by: Upwardly Frugal on January 26, 2019, 10:06:16 PM
I don't know anything about Barclays online banking. But I've used Ally's online banking for five years and I still love it. Not just the competitive rates on savings, but the whole experience has been good.
Title: Re: Ally or Barclays online banking - your thoughts?
Post by: hbrocks on January 28, 2019, 08:20:15 AM
 Thanks everyone -
Just opened an Ally account to park our emergency fund :)
Title: Re: Ally or Barclays online banking - your thoughts?
Post by: 2Birds1Stone on January 28, 2019, 08:27:51 AM
Ally has promo CD rates every so often that are very competitive. I just got a targeted offer for 2.85% @ 14 month term.

Their MM Account currently pays 2.2% which is awesome.
Title: Re: Ally or Barclays online banking - your thoughts?
Post by: Livingthedream55 on January 28, 2019, 08:29:11 AM
Another vote for Ally. It's where I keep my emergency fund (savings account).
Title: Re: Ally or Barclays online banking - your thoughts?
Post by: tralfamadorian on January 28, 2019, 04:12:35 PM
Out of 20 or so checking and saving accounts that I've churned for bonuses, Ally is the only one that I decided to keep.
Title: Re: Ally or Barclays online banking - your thoughts?
Post by: DreamFIRE on January 28, 2019, 04:47:35 PM
I use Ally also.

If you want the 14 month 2.85% CD, when you get to the point you see the drop down box for "term", select the option at the bottom that says, "Select 14-Month CD".  It was available there even though it didn't show as one of the available options prior to that.
Title: Re: Ally or Barclays online banking - your thoughts?
Post by: JLee on January 28, 2019, 06:22:08 PM
Depends what you're using it for. If it's just for savings they are great and no hassle.

If you're looking for a checking account it depends on the features you need. If you want it for ATM's and you travel internationally ever I would not recommend them. They always shut down my card.

I keep a Charles Schwab account / debit card for international travel. They reimburse ATM fees (including internationally).