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,” says Andrew J. Feldman, president and founder of A.J. Financial in Chicago. “This can be in a number of places, including interest-bearing checking accounts. I’ve encouraged my clients to look at cash and cash equivalents as an asset class. Instead of just saying you’re, ‘going to have some cash on hand for expenses and whatnot,’ cash is its own asset class.”
So if this idea makes sense for you, doesn’t it also make sense to choose an interest-bearing checking account that works with your choice of financial planning tool?For example, the Ally Bank Interest Checking account is a great place to earn interest on the money you use for everyday purchases. It also gives you the flexibility and cash on hand to act if an attractive investment opportunity should arise. Moreover, when used in combination with popular financial planning tools like Mint.com or Quicken®, it can become “central command” of your personal economic strategy.
An Ally Bank Interest Checking Account has no monthly maintenance fees and you can open, fund and earn interest with any amount. You get online and mobile banking services, a debit MasterCard®, standard checks, online Bill Pay and postage-paid deposit envelopes, all at no charge to you. You can use any Allpoint no-fee ATM—plus receive up to $10 reimbursement for fees charged at other ATMs nationwide each statement cycle. At Ally Bank, we are committed to making banking as simple, secure and rewarding as it can be. Learn more at Ally.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.
Comment on this article
AllyAccountHolder on April 15, 2020 at 11:20am
Yeah...this is not accurate. I have not been able to connect through either personal finance or YNAB
Jonathan L. on February 2, 2021 at 10:46am
I think you're blocking "Simplifi by Quicken" pretty often.
ursula w. on March 4, 2022 at 11:55am
Good afternoon. Everything I read on your site sounds great. What is missing on the site is any information about paper statements. I am old and need paper statements. In the last few months, the bank we've been with for 20 years abruptly switched to online statements only. Not acceptable for me. We normally have over $20000 in our checking account. It would be wonderful if someone could call me at 239-314-4311 to discuss this. I appreciate your help.
Ally on March 4, 2022 at 11:56am
Hi Ursula, we hear your concern. Please give our team a call at 1-877-247-2559, so they can discuss this with you further.