Ally Financial
Reddit take
Not enough linked mention summaries yet; the source excerpts below are the evidence.
Pros
- In your situation, I would suggest Ally for a HYSA because of their bucket feature. You can have one bucket for emergency savings and one to save for a house.
- Banks like Discover and Ally are considered high yield, and the rates do change with inflation, but they will be consistently "high". They don't hook you with a higher rate and then change it.
- The Schwab card is a must and Ally has a decent one too that reimburses ATM fees (including international) up to $10/mo.
- I bought an Ally to my son, he’s been playing it everyday for more than a year now.
- Is Ally the easiest/most reliable? They seem to be the most recommended when I’ve been reading this subreddit lately.
Cons
- Ally, SoFi, Capital One… they’re all pretty similar. You’ll get like 3-3.6% lately.
- that 1.5gb matters A LOT in devices like the Ally that can use ram memory for video.
- About 6 months ago I switched from Ally to SoFi. Ally has monthly transaction limits in their savings accounts. SoFi doesn't.
- I don't like Ally, but many do.
- Is Ally considered high yield savings?
Sentiment
25 positive (83%) · 4 mixed (13%) · 1 negative (3%)
Trust + time weighted score: +82% · raw score 80%
What redditors said (10 of 30)
In your situation, I would suggest Ally for a HYSA because of their bucket feature. You can have one bucket for emergency savings and one to save for a house.
Banks like Discover and Ally are considered high yield, and the rates do change with inflation, but they will be consistently "high". They don't hook you with a higher rate and then change it.
The Schwab card is a must and Ally has a decent one too that reimburses ATM fees (including international) up to $10/mo.
I bought an Ally to my son, he’s been playing it everyday for more than a year now.
Ally, SoFi, Capital One… they’re all pretty similar. You’ll get like 3-3.6% lately.
Is Ally the easiest/most reliable? They seem to be the most recommended when I’ve been reading this subreddit lately.
Marcus and Capital One are solid HYSA options too if you want to shop around, but honestly Ally is fine and you're overthinking it
Is Ally the generally recommended system for this? Is there anything I should be wary about for this or is it pretty safe and straight forward?
For high yield savings Marcus or Ally are solid choices, both around 4.5% right now.
that 1.5gb matters A LOT in devices like the Ally that can use ram memory for video.
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