168
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 06 Jul 2024
168 points (98.3% liked)
Personal Finance
3866 readers
46 users here now
Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!
Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)
founded 2 years ago
MODERATORS
Ally (GMAC) offers 0.1% interest on checking accounts and 4.2% on savings accounts. No monthly or yearly management fees just for having the account. Same kind of ATM sharing you’re talking about, but they will also reimburse me $10 a month in ATM fees which is really nice because how often do you really go to an ATM?
Credit unions are nice and definitely better in some senses, but the benefits I described I’ve not seen offered by any credit unions in my area. I’m curious what sort of interest rates you get.
That seems like a pretty awesome rate. I keep all my extra money in a HYSA so I never cared much about the CU rates, but you’re definitely beating my CU for anything over $2k. They give 5% for that but it drops sharply after the first 2k.
They have no physical locations, so if you need that kinda stuff, it’s a bad fit. If you don’t though, you get the savings passed along in a generally better than market rate.
Yeah, I don't imagine some of the online banks changing their operations, as places like Ally already provide a lot of cover for things like overdraft.
In that scenario it becomes another reason to not do business with JP.