Ally Invest

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Jack FFR1846
Posts: 13283
Joined: Tue Dec 31, 2013 7:05 am
Location: 26 miles, 385 yards west of Copley Square

Ally Invest

Post by Jack FFR1846 »

Ally has a current promotion to get some $$ for relatively low investments. Buying stocks and ETFs come with no cost, so it's not a bad deal. Sort of par for the course. Funding needs to come from an outside account and maybe I'm just confused, but I couldn't figure out how to add my external source, although I have the same one for my Ally High Yield Savings account. So ok, I send a check like it's 1999. Check's there. Shows up the next day. But now it takes 3 days (they say) before I can buy an equity with it. I guess....ok, but everywhere else I do this (ok, I only do it at Schwab and TDAmeritrade), linking a credit union, moving money over by ACH and buying all can literally be done in 5 minutes (I've done it). I understand I can't pull it out as cash until the check/ACH settles, but what's with Ally and this hold?

In any case, I guess I'll patiently wait for the money to become available to trade, then buy the stock or ETF that I want to hold there. I put in $25,000 to get $250. My plan, which is usually the case, is to wait for the buy, then send in enough to buy 1 more share, then pull out the rest.
Bogle: Smart Beta is stupid
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theRoCK
Posts: 45
Joined: Wed Jul 29, 2020 5:40 pm

Re: Ally Invest

Post by theRoCK »

Jack FFR1846 wrote: Thu Jan 14, 2021 10:09 am My plan, which is usually the case, is to wait for the buy, then send in enough to buy 1 more share, then pull out the rest.
I do not understand what you meant there, but just making sure you read the fine print that you cannot withdraw the initial deposit or the bonus for a year.
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