Most bank savings accounts earn interest and are insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum allowed by law. Still, accounts from different banks are far from the same. Here are the key things you should consider when you compare savings accounts, certificates of deposit or money market accounts from different financial institutions:
- Annual Percentage Yield (APY): Choose a bank that pays a better APY on savings deposits. Online banks like Ally don't have the expenses of brick-and-mortar branches, so they can pass the savings on to customers in the form of great rates.
- Products and Services: The more banking you can do in one place, the better. Does the bank have multiple products and services to help you meet your financial goals? Ally Bank has a variety of accounts that can fit your needs.
- Customer Service: Does the bank offer live, 24/7 customer service? At Ally Bank, you can contact a live person anytime, via phone or on our website via chat. And our website is convenient and easy to use.
- Direct Deposit and Automated Savings: Does the bank give you the convenience and security of automatic direct deposit of your paychecks as well as regular automatic transfers of funds from checking to savings accounts? As an online bank, Ally makes managing your accounts easy, convenient and secure.
There’s more to getting the best account than just an attractive interest rate. Take the time to do your research and choose the bank that can meet your needs now and in the future. Explore your options at Allybank.com or call live, 24/7 customer service at 877-247-ALLY (2559) today.
Ally Bank, member FDIC