If you have parents who have reached or are nearing retirement age, you may be considering ways to help them maximize their savings. One of the simplest ways of doing this is to find a savings account that offers a higher interest rate than the one their current bank offers.

One place to start looking for the best interest rates is online savings accounts. Perhaps this has already crossed your mind, but you're not sure how your parents would react to the idea of an online bank. Here are a few pointers to help walk them through the process of opening an online savings account.

Discuss the Basics.
It makes sense that an online bank, such as Ally Bank, can offer competitive interest rates. Without the overhead expense that a brick-and-mortar bank has, online banks can pass the savings on to customers in the form of great rates.

Describe the Process.
Opening an Ally Bank Online Savings Account is an easy online process. It's something you can help your parents do in a matter of minutes. You may want to let them know there are several options for funding an Ally Bank account: direct deposit, U.S. mail, wire transfer, or bank transfers from an existing Ally Bank account or from other bank accounts. In addition, it may help to let them know that Ally Bank has live help available 24/7 via chat and phone. Our customer care associates are happy to help do a walk-through of our website and all its benefits. Moreover, point out that your parents may like the sheer convenience of banking online at their own convenience instead of having to physically head to the bank during business hours and wait in lines.

Discuss Concerns.
Find out any other reasons why your parents may be hesitant to use an online savings account. It's quite normal to feel more comfortable using a process they're already familiar with. If they're worried about not having a bank teller to speak with, you may want to demonstrate how easy it is to chat online with friendly, knowledgeable customer service associates at any time from Allybank.com and remind them they can always call to speak with an associate on the phoneAnd if they're concerned about security, they should understand that, as with most banks, your deposits in Ally Bank accounts are FDIC-insured up to the maximum allowed by law.

Ultimately, it's your parents' choice, of course. But our great online savings interest rates make an easy conversation starter. From there, you can help them figure out how to reach their saving goals. Learn more at Allybank.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.

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