Interest Checking Is Compatible With Popular Financial Planning Tools
With the wide availability of quality, hi-tech financial planning tools, it can be easy to overlook some fundamentals. For example, even with the best financial planning tools at your disposal, choosing to keep money in an interest checking account may be helpful. “In a comprehensive financial plan, there should be some cash and cash equivalents,” […]
Advantages of Managing Your Checking Account Online
While nearly every bank gives you some form of online access, not all of them can give you the advantages of being an online bank. Online banks generally have higher interest rates than traditional banks, and the reality is, they often provide a better online banking experience because “online” is all they do. With an […]
About Interest-Bearing Checking Accounts
Checking account basicsFor many people, a checking account is the place where money first enters the budget. It's the hub from which money is directed to bills, expenses and savings. As an important part of your everyday money management, an interest-bearing checking account should be simple and convenient. Keep in mind the following factors as […]
How Do Interest-Bearing Checking Accounts Work?
Interest-bearing checking accounts, like money market and simple savings accounts, can be a way to earn interest on your money, but there are some key differences.In general, money market accounts like the one offered by Ally Bank pay a somewhat higher rate of interest than interest-bearing checking accounts. But there are federal limits to the […]
Get the Facts on Checking Account Fees & Charges
Before you open a new checking account, be sure you understand all the terms of the account. Any bank should provide a written disclosure of terms and conditions, including checking account fees, so be sure you read the disclosure before you commit to an account. Doing so can be well worth it. “By exercising a […]
The Impact of Checking Account Fees
In order to understand how interest-bearing checking really works to your advantage, you need to understand the fees involved. Even fairly modest checking account fees can significantly offset your interest earnings, or wipe them out altogether. "Everyone needs to watch out for fees," explains Andrew J. Feldman, president and founder of A.J. Financial in Chicago. […]
Solidify Your Financial Strength
A well-balanced financial portfolio should include a mix of savings options across various “asset classes.” This not only allows you to benefit from rising values and be protected against market downturns, but by allocating your savings among different classes, you can substantially reduce the worry that comes with investing in only one type of asset. […]
Choosing a Checking Account
Which interest-bearing checking account is right for you? At Ally Bank, we feel that opening a new online checking account should be an easy decision. But as with any financial decision, it's smart to do some homework before you make your final choice. You can start the process of choosing a checking account by asking […]
Cash Is King Still
Put aside cash for emergencies and more. It almost always makes sense to keep some cash reserves in a savings account, a certificate of deposit (CD) or a money market account. Not only might this give you the money you need to face an emergency—like an unexpected job loss or medical expenses—but it also may […]
How to Get More From Your Checking Account(s)
Many finance experts would agree that generally your checking account is for everyday spending, your savings is for mid-range goals and emergency funds, and investments are for longer-term goals. That means an interest checking account may not be your preferred vehicle for maximizing interest on the bulk of your assets. Still, there are reasons why […]
