Ally vs marcus

Amazon lkjiou
Mar 28 12 Comments

Which is better savings account?

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TOP 12 Comments
  • Microsoft new2this
    Haven't tried Ally but I like marcus. Yup, no app but websites are mobile friendly.

    This is not your brokerage account... Nothing much is going to change from day to day ๐Ÿ˜‚

    Set up your regular transfers & then forget about it ๐Ÿ˜
    Mar 28 0
  • Workfront / Eng aerodactyl
    I've been using Marcus and it's been great. I like their UX and fast transfers. I'm in the US.
    Mar 28 0
  • Goldman Sachs AdCw
    Ally is currently at 2.20% APY, Marcus is at 2.25% for savings accounts. Marcus also offers no-penalty CDโ€™s at 2.35%. (You can close at any time with no restrictions or penalties).
    Mar 28 4
    • DigitalOcean TC TC
      How does that work? People would use it like a savings account. That is, when savings rate goes up they'd transfer out right? That'd be bad for the bank I assume?
      Mar 28
    • Goldman Sachs AdCw
      People often forget to transfer it out when rates go up. The bank takes gaming into account and have already factored that in.

      I personally have a number of no-penalty CDโ€™s (you can open as many as you want with a minimum of $500) that I simply cash out back into my savings when I need to access the funds. Itโ€™s a no-brainer- just keep an eye on the rates.
      Mar 28
    • DigitalOcean TC TC
      Good tip my dude. Feel free to PM a referral code if they have a program
      Mar 28
    • Oracle lHEA77
      Unless you really care about FDIC insurance, just park your money at vanguard in VMMXX. It responds quickly to the interest rate environment, is fully liquid with no minimum balances, and is paying 2.45% right now.

      (Depending on your tax bracket and state of residence, you might also look at VMFXX, VUSXX, VMSXX, and/or various state-specific money market funds.)
      Mar 30
  • DigitalOcean TC TC
    AFAIK Ally doesn't let non-citizens create accounts. Scratch that. According to comment below, that's wrong.
    Mar 28 1
  • Spotify / Eng qbeforeu
    which has the higher rate?
    Mar 28 0
  • VMware meisyebrj
    I think Marcus doesnโ€™t have an Android or iOS app.
    Mar 28 0
  • Amazon / Eng tenders
    Ally
    Mar 28 0