Opening a savings account can be a good financial decision. It provides you with a secure place to store your money for emergencies, future purchases or even retirement. Plus, savings accounts typically accrue interest over time. And if you open an online savings account like the one offered by Ally Bank, your interest rates may be higher than those you'd find at traditional banks. Online banks don't have the overhead costs that traditional banks have, so they can pass the savings on to you in the form of great rates.
Although every online bank has its own procedures for opening and funding a savings account, your account generally won't be ready to use until your initial deposit is posted. You usually can transfer money from another account or mail a check or money order. Whichever method of deposit you choose, the faster you get your money into the account, the quicker it can go to work earning interest.
At Ally Bank, we make opening a savings account quick, convenient and easy, and finding out when your savings account is ready to use is as easy as logging in. Look into our competitive interest rates and start saving with Ally Bank today. Learn more at Allybank.com or call live, 24/7 customer support at 877-247-ALLY (2559) to get started.