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Ally Quiz Part I: How Well Do You Know Your Deposit Options?

Thursday, May 24, 2012 - 5:02 AMAlly Bank - Details
Even if you have an Ally Bank account, you may not be familiar with some of the new ways to deposit money in your Ally account. This quiz at Ally's Straight Talk Blog provides an entertaining way of learning these new ways. If you're a regular reader of this blog, you probably can easily answer all of those questions.
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Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,249
1. Wednesday, May 30, 2012 - 3:51 PM
Here's part 2 of the quiz:

Ally Quiz Part II: How Well Do You Know Your Deposit Options?

On the question about how often Ally compounds interest on its deposit accounts, this is becoming less of an issue as rates decline. For example, The difference between no compounding and compounding daily for Ally's highest deposit account rate (the 5-year CD) is only 1 basis point (1.68% vs 1.69%). For a $100,000 deposit, that's a difference of only $1 on a $10,000 deposit over 1 year.
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Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,249
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