Regardless of economic conditions, and no matter how your own personal economy is faring, high yield savings accounts continue to provide a number of advantages:
- Safety—high yield savings accounts at Ally Bank offer you a way to keep your cash safe.
- Security—FDIC-member banks like Ally Bank give you the peace of mind that comes with knowing your money is insured up to the maximum allowed by law.
- Relative flexibility—while savings accounts have federal transaction limits, you still get more flexible access than you'd find with a certificate of deposit (CD), for example.
Yet not every bank's high yield savings account is right for you. Some banks have conditions, restrictions and even fees that make the process of saving money more complicated.
Keep It Simple, Automatically.
One classic way to make saving money simpler is to open both a checking account and a high yield savings account at the same bank, and then set up automatic transfers between your checking and savings. Having a stash of cash that's relatively easy to get to in an emergency—but separate from your other funds—just makes good sense. With that in place, the rest of your financial world is more likely to work as it should, without being tripped up every time there's an unexpected expense. But there's more you can do to help things run smoother.
Ally Bank Can Help.
All the common sense in the world won't help if your bank is part of the problem. It simply doesn't help to have your savings strategy on autopilot if you have to pay monthly maintenance fees that eat away at any interest you earn. At Ally Bank, you can open and fund an Online Savings Account with any amount and earn a variable rate of interest that's consistently among the most competitive in the country, according to the rates as published by Bankrate.com.
The same goes for the Ally Bank Interest Checking account, and when you combine the power of both with automatic transfers, you get a simple, straightforward way to keep your cash working even while you handle expenses and save toward your goals. With the Ally Bank Interest Checking account, you get free standard checks and a debit card for convenient access to your money. You can use any Allpoint no-fee ATM—plus receive up to $10 reimbursement for fees charged at other ATMs nationwide each statement cycle.
Put the power of high yield savings and a flexible interest-bearing checking account to work for you. Learn more at Allybank.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.