Ally offers 1% cash bonus on new deposits - up to $500 bonus

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TravelGeek
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Joined: Sat Oct 25, 2014 3:23 pm

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by TravelGeek »

bpg1234 wrote: Sat Oct 29, 2022 7:42 pm Thanks, yes I was waiting on chat forever today but never got connected.
Just tried to clarify this via chat. It displays this message:

“Our team is swamped and trying their best to get back to everyone as quickly as possible. You’ll be waiting much longer than expected (more than 4 hours), so you may want to come back later or use online services if you can. Thanks for being patient with us.”
hudson
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Joined: Fri Apr 06, 2007 9:15 am

Re: Ally offers 1% on new deposits - up to $500 bonus

Post by hudson »

am wrote: Fri Oct 14, 2022 11:05 am So after taxes at a high bracket, we are making these cash movements for the equivalent of a nice dinner out? As I get older I have resisted these types of things.
Your point if valid, but in 1967, $500 would have bought 100 cases of Red White and Blue Beer.
FedGuy
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Joined: Sun Jul 25, 2010 3:36 pm

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by FedGuy »

TravelGeek wrote: Sun Oct 30, 2022 11:43 am
bpg1234 wrote: Sat Oct 29, 2022 7:42 pm Thanks, yes I was waiting on chat forever today but never got connected.
Just tried to clarify this via chat. It displays this message:

“Our team is swamped and trying their best to get back to everyone as quickly as possible. You’ll be waiting much longer than expected (more than 4 hours), so you may want to come back later or use online services if you can. Thanks for being patient with us.”
Ally's customer service issues predated its current promotion. It shouldn't, but it always surprises me when businesses have big sales/deals/promotions in an apparent attempt to drum up more business without ensuring that their customer service, website, etc. can handle the volume. It seems counterproductive for a business to attract a lot of attention from new and existing customers and then fall flat on its face.
TravelGeek
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Joined: Sat Oct 25, 2014 3:23 pm

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by TravelGeek »

FedGuy wrote: Sun Oct 30, 2022 12:30 pm Ally's customer service issues predated its current promotion. It shouldn't, but it always surprises me when businesses have big sales/deals/promotions in an apparent attempt to drum up more business without ensuring that their customer service, website, etc. can handle the volume. It seems counterproductive for a business to attract a lot of attention from new and existing customers and then fall flat on its face.
Yeah, probably different departments with different leaders and incentives. Frustrating for sure. If you don't have any branch I can walk into, you should have customer service staff that is readily available online or on the phone.
bpg1234
Posts: 407
Joined: Fri Jun 24, 2011 6:53 pm

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by bpg1234 »

bpg1234 wrote: Sat Oct 29, 2022 7:42 pm Thanks, yes I was waiting on chat forever today but never got connected. I'll try again on Monday. I participated in one of these Ally promos in the past and I vaguely remember something along the line if the new money stayed within Ally in an eligible account such as savings, CD, MM it would still qualify.

Thought they could go by the email address that was used to sign up for the promo along with the corresponding SS# and account. Would think they would have the original balance on 10/11 and then all deposits made through 11/4 and track overall maintained balance from there regardless if in the original account or moved to another Ally account that was suitable for the promo.

Any other thoughts? Thanks again in advance.
I chatted with an Ally CSR who subsequently spoke to the supervisor and confirmed one can subsequently move new deposit money initially transferred into an eligible account used for this promo into a new CD I opened which would still be eligible for the promo 1% bonus. There was some initial confusion by the CSR that the money had to get transferred into and remain in the specific account registered for the promo. I then copied and pasted the following excerpt from the promo T&C which clearly indicated all eligible accounts will be considered when calculating the bonus:

Eligible Account(s) –New or existing Online Savings accounts, Money Market accounts, and CDs at Ally Bank are eligible for the Cash Bonus. If you have more than one of these accounts, we’ll consider all of them when calculating your bonus.

The one point the CSR made that was of concern was that this transfer into the CD would need to be completed before the 11/4 cutoff date so basically if I ACH'd new deposit money in say by Tuesday of this week then I should open the NP CD and seed it with that new deposit money from my Savings account by the 11/4 date.

This is fine in my particular case as I plan to do this anyway but as I remember the past Ally promo I think you were allowed to move any new deposit money throughout the entire 10/12/2022 through 1/15/2023 period as long as it was into another eligible account such as savings, CD, or MM under that email address used for the promo. Can't guarantee this though as Ally info is rather vague in this regard.
bpg1234
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Joined: Fri Jun 24, 2011 6:53 pm

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by bpg1234 »

bpg1234 wrote: Sun Oct 30, 2022 9:14 pm
bpg1234 wrote: Sat Oct 29, 2022 7:42 pm Thanks, yes I was waiting on chat forever today but never got connected. I'll try again on Monday. I participated in one of these Ally promos in the past and I vaguely remember something along the line if the new money stayed within Ally in an eligible account such as savings, CD, MM it would still qualify.

Thought they could go by the email address that was used to sign up for the promo along with the corresponding SS# and account. Would think they would have the original balance on 10/11 and then all deposits made through 11/4 and track overall maintained balance from there regardless if in the original account or moved to another Ally account that was suitable for the promo.

Any other thoughts? Thanks again in advance.
I chatted with an Ally CSR who subsequently spoke to the supervisor and confirmed one can subsequently move new deposit money initially transferred into an eligible account used for this promo into a new CD I opened which would still be eligible for the promo 1% bonus. There was some initial confusion by the CSR that the money had to get transferred into and remain in the specific account registered for the promo. I then copied and pasted the following excerpt from the promo T&C which clearly indicated all eligible accounts will be considered when calculating the bonus:

Eligible Account(s) –New or existing Online Savings accounts, Money Market accounts, and CDs at Ally Bank are eligible for the Cash Bonus. If you have more than one of these accounts, we’ll consider all of them when calculating your bonus.

The one point the CSR made that was of concern was that this transfer into the CD would need to be completed before the 11/4 cutoff date so basically if I ACH'd new deposit money in say by Tuesday of this week then I should open the NP CD and seed it with that new deposit money from my Savings account by the 11/4 date.

This is fine in my particular case as I plan to do this anyway but as I remember the past Ally promo I think you were allowed to move any new deposit money throughout the entire 10/12/2022 through 1/15/2023 period as long as it was into another eligible account such as savings, CD, or MM under that email address used for the promo. Can't guarantee this though as Ally info is rather vague in this regard.
I chatted with a different Ally CSR and she refuted what the prior rep/Leadership said and indicated that unless the NP CD was opened by the 10/26 date that I couldn't open it now and transfer the new money I just transferred over to my savings account as part of the promo into this newly opened NP CD and realize the bonus.

As such, it's not worth the risk of trying to do this with conflicting information so we're just gonna leave the new money in the original savings account I referenced when I signed up for the promo throughout the 1/15 term. Apologize for confusion created by Ally on this through inconsistent information.
Super Hans
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Location: Washington, D.C.

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by Super Hans »

What a messy promotion! The way I read the terms sheet is that any new CDs would be Eligible Accounts, so I went ahead and put everything into no-penalty CDs. We'll see if they play fair.
TravelGeek
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by TravelGeek »

bpg1234 wrote: Tue Nov 01, 2022 9:05 am I chatted with a different Ally CSR and she refuted what the prior rep/Leadership said and indicated that unless the NP CD was opened by the 10/26 date that I couldn't open it now and transfer the new money I just transferred over to my savings account as part of the promo into this newly opened NP CD and realize the bonus.

As such, it's not worth the risk of trying to do this with conflicting information so we're just gonna leave the new money in the original savings account I referenced when I signed up for the promo throughout the 1/15 term. Apologize for confusion created by Ally on this through inconsistent information.
It’s also interesting that she mentioned the 10/26 date given that the funding deadline was extended to 11/4. Unless her (their) interpretation is that only those who signed up after the extension are eligible for the 11/4 date.

I haven’t even received a reply to my 10/30 secure message inquiry about the transfer to a CD,
TwstdSista
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by TwstdSista »

Super Hans wrote: Tue Nov 01, 2022 10:11 am What a messy promotion! The way I read the terms sheet is that any new CDs would be Eligible Accounts, so I went ahead and put everything into no-penalty CDs. We'll see if they play fair.
Just so long as you enrolled in the promotion, you should be fine: https://www.ally.com/go/bank/bonus-offer/
bpg1234
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by bpg1234 »

TwstdSista wrote: Tue Nov 01, 2022 10:19 am
Super Hans wrote: Tue Nov 01, 2022 10:11 am What a messy promotion! The way I read the terms sheet is that any new CDs would be Eligible Accounts, so I went ahead and put everything into no-penalty CDs. We'll see if they play fair.
Just so long as you enrolled in the promotion, you should be fine: https://www.ally.com/go/bank/bonus-offer/
She/they specifically indicated the CD would need to have been opened by the 10/26 date and then would need to be seeded directly through transfer of new money from outside of Ally by the 11/4 date and remain in that account the entire time otherwise it would not be considered for the bonus.

She was very clear sighting the T&Cs that the accounts that would receive the new money can be different eligible ones (e.g. MM, Savings, CDs) under the email profile but the accounts would have need to be opened / already existed by that 10/26 and then be funded directly and not moved (not via transfers from other accounts even if that was new money into savings as part of the promo ike I was trying to do once seeing the higher rate NP CD).

Very convulted so not worth it in my case. If someone opened new CDs after the 10/26 date and did add new money directly into them before the 11/4 date she indicated (not sure if right or not) that they would not be eligible for the promo. I just don't understand all the gotchas so I'll just leave well enough alone at this point.
Econberkeley
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by Econberkeley »

Here is my question

I already had 200K in Ally savings and then to get the $500 bonus I deposited another 50K

But then I need to move the 200K to buy US Treasuries. Customer rep was not sure if this would effect my $500 bonus or not. After all it says I can not touch $50K for X days.

I know logically it should not effect my $500 bonus but I am suspicious at this point. What would you do?
professor_americus
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by professor_americus »

Econberkeley wrote: Tue Nov 01, 2022 5:54 pm Here is my question

I already had 200K in Ally savings and then to get the $500 bonus I deposited another 50K

But then I need to move the 200K to buy US Treasuries. Customer rep was not sure if this would effect my $500 bonus or not. After all it says I can not touch $50K for X days.

I know logically it should not effect my $500 bonus but I am suspicious at this point. What would you do?
Check out the T&Cs in original offer. You'll be good.

Net New Funds – We’ll calculate your bonus using the Net New Funds —the total of any
New Money minus any withdrawals you make—in your Eligible Account(s) during the
Funding Period and Retention Period. Withdrawals from any of your Eligible Account(s)
during the Funding Period and Retention Period may decrease your Net New Funds total,
thereby reducing your Cash Bonus payout.
bpg1234
Posts: 407
Joined: Fri Jun 24, 2011 6:53 pm

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by bpg1234 »

professor_americus wrote: Tue Nov 01, 2022 6:01 pm
Econberkeley wrote: Tue Nov 01, 2022 5:54 pm Here is my question

I already had 200K in Ally savings and then to get the $500 bonus I deposited another 50K

But then I need to move the 200K to buy US Treasuries. Customer rep was not sure if this would effect my $500 bonus or not. After all it says I can not touch $50K for X days.

I know logically it should not effect my $500 bonus but I am suspicious at this point. What would you do?
Check out the T&Cs in original offer. You'll be good.

Net New Funds – We’ll calculate your bonus using the Net New Funds —the total of any
New Money minus any withdrawals you make—in your Eligible Account(s) during the
Funding Period and Retention Period. Withdrawals from any of your Eligible Account(s)
during the Funding Period and Retention Period may decrease your Net New Funds total,
thereby reducing your Cash Bonus payout.
If you had $200K and enrolled that account in the promo and then deposit an additional $50K before the 11/4 date then that $50K would get you the $500 if it remained in the account the entire term through 1/15/2023.

HOWEVER, if you withdrawal the original $200K you had in that account during the retention period to buy treasuries then that reduces the net amount as: New money ($50K) - ($200K withdrawal of existing money during retention period) is -$150K so no net new funds total and no cash bonus payout.
User avatar
anon_investor
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by anon_investor »

bpg1234 wrote: Tue Nov 01, 2022 6:11 pm
professor_americus wrote: Tue Nov 01, 2022 6:01 pm
Econberkeley wrote: Tue Nov 01, 2022 5:54 pm Here is my question

I already had 200K in Ally savings and then to get the $500 bonus I deposited another 50K

But then I need to move the 200K to buy US Treasuries. Customer rep was not sure if this would effect my $500 bonus or not. After all it says I can not touch $50K for X days.

I know logically it should not effect my $500 bonus but I am suspicious at this point. What would you do?
Check out the T&Cs in original offer. You'll be good.

Net New Funds – We’ll calculate your bonus using the Net New Funds —the total of any
New Money minus any withdrawals you make—in your Eligible Account(s) during the
Funding Period and Retention Period. Withdrawals from any of your Eligible Account(s)
during the Funding Period and Retention Period may decrease your Net New Funds total,
thereby reducing your Cash Bonus payout.
If you had $200K and enrolled that account in the promo and then deposit an additional $50K before the 11/4 date then that $50K would get you the $500 if it remained in the account the entire term through 1/15/2023.

HOWEVER, if you withdrawal the original $200K you had in that account during the retention period to buy treasuries then that reduces the net amount as: New money ($50K) - ($200K withdrawal of existing money during retention period) is -$150K so no net new funds total and no cash bonus payout.
+1, that is my understanding too.
Econberkeley
Posts: 197
Joined: Thu Jan 16, 2014 5:51 pm

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by Econberkeley »

bpg1234 wrote: Tue Nov 01, 2022 6:11 pm
professor_americus wrote: Tue Nov 01, 2022 6:01 pm
Econberkeley wrote: Tue Nov 01, 2022 5:54 pm Here is my question

I already had 200K in Ally savings and then to get the $500 bonus I deposited another 50K

But then I need to move the 200K to buy US Treasuries. Customer rep was not sure if this would effect my $500 bonus or not. After all it says I can not touch $50K for X days.

I know logically it should not effect my $500 bonus but I am suspicious at this point. What would you do?
Check out the T&Cs in original offer. You'll be good.

Net New Funds – We’ll calculate your bonus using the Net New Funds —the total of any
New Money minus any withdrawals you make—in your Eligible Account(s) during the
Funding Period and Retention Period. Withdrawals from any of your Eligible Account(s)
during the Funding Period and Retention Period may decrease your Net New Funds total,
thereby reducing your Cash Bonus payout.
If you had $200K and enrolled that account in the promo and then deposit an additional $50K before the 11/4 date then that $50K would get you the $500 if it remained in the account the entire term through 1/15/2023.

HOWEVER, if you withdrawal the original $200K you had in that account during the retention period to buy treasuries then that reduces the net amount as: New money ($50K) - ($200K withdrawal of existing money during retention period) is -$150K so no net new funds total and no cash bonus payout.
Now that I am thinking I was not eligible for the $500 bonus anyway

Because I am using my savings account like checking. All checks deposits expenses are going thru my savings now. Because there is no longer penalty due to exceeding 6 times a month due to covid. I should have opened a seperate savings account and deposited the $50K in there.

Oh well, I will transfer the 200K to Fidelity and buy treasuries paying %4.31 maturing late April when I need the money.
goaties
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by goaties »

deleted
Last edited by goaties on Thu Dec 08, 2022 4:59 am, edited 1 time in total.
TravelGeek
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Joined: Sat Oct 25, 2014 3:23 pm

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by TravelGeek »

goaties wrote: Wed Nov 02, 2022 7:09 am
Think of the "waterline" analogy. Your new cash raised the waterline to $250K. So, until 1/15/23, you cannot fall under $250K at any time in order to get the full bonus.
I wish they would visualize the currently qualifying amount for the bonus on the website somehow. And make it super clear how transactions impact it.

In other news, the No Penalty CD is now at 3.1% APY

https://www.ally.com/bank/no-penalty-cd/
bpg1234
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Joined: Fri Jun 24, 2011 6:53 pm

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by bpg1234 »

TravelGeek wrote: Wed Nov 02, 2022 2:03 pm
goaties wrote: Wed Nov 02, 2022 7:09 am
Think of the "waterline" analogy. Your new cash raised the waterline to $250K. So, until 1/15/23, you cannot fall under $250K at any time in order to get the full bonus.
I wish they would visualize the currently qualifying amount for the bonus on the website somehow. And make it super clear how transactions impact it.

In other news, the No Penalty CD is now at 3.1% APY

https://www.ally.com/bank/no-penalty-cd/
After seeing the 3.1% APY for the NP CD, I called and actually got through today and this third CSR (who also spoke to her supervisor) came back and clearly stated that I could transfer the newly deposited funds I ACH'ed into my savings account to a new NP CD I could open now and be eligible for the 1% bonus.

This CSR was adamant about that ability and said they record the call so they can go back to that if anything happens and I didn't get the bonus. She indicated (which was my original thought from the 2018 Ally promo I participated in) that we could move the additional new deposits into any eligible Ally account under the email profile I enrolled the promo under even throughout the retention period and it would all still qualify for the bonus.

I'm not sure what to think at this point so on the fence once again.
TravelGeek
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Joined: Sat Oct 25, 2014 3:23 pm

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by TravelGeek »

bpg1234 wrote: Wed Nov 02, 2022 2:23 pm After seeing the 3.1% APY for the NP CD, I called and actually got through today and this third CSR (who also spoke to her supervisor) came back and clearly stated that I could transfer the newly deposited funds I transferred into my savings account to a new NP CD I could open now and be eligible for the 1% bonus.

This CSR was adamant about that ability and said they record the call so they can go back to that if anything happens and I didn't get the bonus. She indicated (which was my original thought from the 2018 Ally promo I participated in) that we could move the additional new deposits into any eligible Ally account under the email profile even throughout the retention period and it would all still qualify for the bonus.

I'm not sure what to think at this point so on the fence once again.
I am still waiting for a reply to my secure message request from Sunday. In it, I laid out this concrete scenario:

"I have moved $50k by Nov 4 into my Savings account (eligible). If on Nov 10 I then fund a CD (also eligible) with those $50k, does that reduce/eliminate my bonus, or are transfers within eligible accounts during the retention period not having any impact?"

I will report back if/when I receive a reply.
bpg1234
Posts: 407
Joined: Fri Jun 24, 2011 6:53 pm

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by bpg1234 »

TravelGeek wrote: Wed Nov 02, 2022 2:28 pm
bpg1234 wrote: Wed Nov 02, 2022 2:23 pm After seeing the 3.1% APY for the NP CD, I called and actually got through today and this third CSR (who also spoke to her supervisor) came back and clearly stated that I could transfer the newly deposited funds I transferred into my savings account to a new NP CD I could open now and be eligible for the 1% bonus.

This CSR was adamant about that ability and said they record the call so they can go back to that if anything happens and I didn't get the bonus. She indicated (which was my original thought from the 2018 Ally promo I participated in) that we could move the additional new deposits into any eligible Ally account under the email profile even throughout the retention period and it would all still qualify for the bonus.

I'm not sure what to think at this point so on the fence once again.
I am still waiting for a reply to my secure message request from Sunday. In it, I laid out this concrete scenario:

"I have moved $50k by Nov 4 into my Savings account (eligible). If on Nov 10 I then fund a CD (also eligible) with those $50k, does that reduce/eliminate my bonus, or are transfers within eligible accounts during the retention period not having any impact?"

I will report back if/when I receive a reply.
When you say on Nov 10 you then fund a CD (also eligible) was this CD opened before the 10/26 date or are you talking about a newly opened CD say on 11/10?

The reason I ask is one of the CSRs said the CD had to have been opened before the 10/26 enrollment date or it wouldn't be considered for the promo. Simply unbelievable conflicting info I've received.

BTW, the first CSR, after discussing with a supervisor, said I could transfer the newly deposit funds from my savings account into a new NP CD I would open but as long as it was done before the 11/4 funding period.
Philly30
Posts: 51
Joined: Sat Apr 30, 2022 7:06 am

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by Philly30 »

How long does it take to fund the CD from an ALLY account? would it be safe to open the CD Tomorrow
FedGuy
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Joined: Sun Jul 25, 2010 3:36 pm

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by FedGuy »

Doctor of Credit is reporting contradicting guidance from Ally on this point. It sounds like mass confusion over there right now.
Philly30
Posts: 51
Joined: Sat Apr 30, 2022 7:06 am

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by Philly30 »

TravelGeek wrote: Tue Nov 01, 2022 10:16 am
bpg1234 wrote: Tue Nov 01, 2022 9:05 am I chatted with a different Ally CSR and she refuted what the prior rep/Leadership said and indicated that unless the NP CD was opened by the 10/26 date that I couldn't open it now and transfer the new money I just transferred over to my savings account as part of the promo into this newly opened NP CD and realize the bonus.

As such, it's not worth the risk of trying to do this with conflicting information so we're just gonna leave the new money in the original savings account I referenced when I signed up for the promo throughout the 1/15 term. Apologize for confusion created by Ally on this through inconsistent information.
It’s also interesting that she mentioned the 10/26 date given that the funding deadline was extended to 11/4. Unless her (their) interpretation is that only those who signed up after the extension are eligible for the 11/4 date.

I haven’t even received a reply to my 10/30 secure message inquiry about the transfer to a CD,
I have a chat transcript saying the new funding date is for anyone that signed up by 10/26
TravelGeek
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Joined: Sat Oct 25, 2014 3:23 pm

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by TravelGeek »

bpg1234 wrote: Wed Nov 02, 2022 2:49 pm When you say on Nov 10 you then fund a CD (also eligible) was this CD opened before the 10/26 date or are you talking about a newly opened CD say on 11/10?

The reason I ask is one of the CSRs said the CD had to have been opened before the 10/26 enrollment date or it wouldn't be considered for the promo. Simply unbelievable conflicting info I've received.

BTW, the first CSR, after discussing with a supervisor, said I could transfer the newly deposit funds from my savings account into a new NP CD I would open but as long as it was done before the 11/4 funding period.
I wasn’t considering the case of opening the CD before the promo funding deadline and funding it after Nov 4. I have always funded my CDs right away, from Ally Checking or Savings. I suppose I also want to know if I can close a NpCD in December, move the money into Savings, and then fund a new NP CD if the interest rate increases. The money would stay within eligible account types, but a new account would be created after the funding deadline.
TravelGeek
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Joined: Sat Oct 25, 2014 3:23 pm

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by TravelGeek »

Philly30 wrote: Wed Nov 02, 2022 5:55 pm

I have a chat transcript saying the new funding date is for anyone that signed up by 10/26
Yeah, the Ally website actually reminded me today that I until Nov 4 to move my funds.
FedGuy wrote: Wed Nov 02, 2022 5:50 pm Doctor of Credit is reporting contradicting guidance from Ally on this point. It sounds like mass confusion over there right now.
Yeah, if anyone wants to follow along, there are some contradicting CS responses in this DoC post comments section:

https://www.doctorofcredit.com/ally-ban ... -apy-rate/

Personally, I would be concerned with relying on someone else’s customer service responses having much weight when arguing with Ally later on. I could see them honor what their reps told me specifically, but not what an anonymous rep supposedly told some anonymous internet poster.
Jags4186
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by Jags4186 »

Folks, whenever there's a promotion like this the most important thing to do is follow the T&C in the provided documentation. Front line reps usually never know the answers and are guessing just like we are. This is every single bank. No reason to get into a huff. If the money is in by 11/4 you should be good.

FYI, Ally will do 1 day ACH pulls, so you can initiate a pull today and get the money in there for tomorrow.
TwstdSista
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Joined: Thu Nov 16, 2017 3:03 am

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by TwstdSista »

Jags4186 wrote: Thu Nov 03, 2022 8:51 am ....
FYI, Ally will do 1 day ACH pulls, so you can initiate a pull today and get the money in there for tomorrow.
My ACH pull took three days - the money left my checking account on a Thursday and landed at Ally on Monday. Possibly because I was a new customer?
bpg1234
Posts: 407
Joined: Fri Jun 24, 2011 6:53 pm

Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by bpg1234 »

Jags4186 wrote: Thu Nov 03, 2022 8:51 am Folks, whenever there's a promotion like this the most important thing to do is follow the T&C in the provided documentation. Front line reps usually never know the answers and are guessing just like we are. This is every single bank. No reason to get into a huff. If the money is in by 11/4 you should be good.

FYI, Ally will do 1 day ACH pulls, so you can initiate a pull today and get the money in there for tomorrow.
No concern over the 11/4 deposit date. The issue is whether newly deposited funds in an eligible account (e.g. Savings account) registered for the promo can be transferred to another eligible account (e.g. new No Penalty CD) and still realize the 1% bonus. It's is unclear within the T&Cs and CSR info is all over the place.
TravelGeek
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by TravelGeek »

Jags4186 wrote: Thu Nov 03, 2022 8:51 am Folks, whenever there's a promotion like this the most important thing to do is follow the T&C in the provided documentation. Front line reps usually never know the answers and are guessing just like we are. This is every single bank. No reason to get into a huff. If the money is in by 11/4 you should be good.
The problem is that the T&C aren’t really clear and complete, otherwise there wouldn’t be any questions/confusion and even the CSR would be able to answer the questions consistently.

In any case, DoC has now received a reply from the Ally media team:

Update 11/3/22: We go an official reply from the Ally media team confirming that it’s okay to transfer funds between eligible Ally accounts at any time (both now and even after November 4th) and still maintain the 1% bonus. Here’s the quote: “As long as the new money remains in an eligible Ally account until 1/15/23, then they would still qualify for the bonus. If, for instance, they transferred money to an online checking account prior to 1/15/23, which is not eligible, then that would impact the bonus.”
Firefly80
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by Firefly80 »

TravelGeek wrote: Thu Nov 03, 2022 10:15 am
Jags4186 wrote: Thu Nov 03, 2022 8:51 am Folks, whenever there's a promotion like this the most important thing to do is follow the T&C in the provided documentation. Front line reps usually never know the answers and are guessing just like we are. This is every single bank. No reason to get into a huff. If the money is in by 11/4 you should be good.
The problem is that the T&C aren’t really clear and complete, otherwise there wouldn’t be any questions/confusion and even the CSR would be able to answer the questions consistently.

In any case, DoC has now received a reply from the Ally media team:

Update 11/3/22: We go an official reply from the Ally media team confirming that it’s okay to transfer funds between eligible Ally accounts at any time (both now and even after November 4th) and still maintain the 1% bonus. Here’s the quote: “As long as the new money remains in an eligible Ally account until 1/15/23, then they would still qualify for the bonus. If, for instance, they transferred money to an online checking account prior to 1/15/23, which is not eligible, then that would impact the bonus.”

It's still not clear if a Newly opened CD account between now and 1/15/23 would be an "eligible account" since it wasn't opened by 10/26? And moving funds into this new CD from your "eligible" savings account would count as a withdrawal and make you ineligible for the offer.
Super Hans
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by Super Hans »

Firefly80 wrote: Thu Nov 03, 2022 11:04 am
It's still not clear if a Newly opened CD account between now and 1/15/23 would be an "eligible account" since it wasn't opened by 10/26? And moving funds into this new CD from your "eligible" savings account would count as a withdrawal and make you ineligible for the offer.
The terms and conditions define Eligible Account(s) as "New or existing Online Savings accounts, Money Market accounts, and CDs at Ally Bank are eligible for the Cash Bonus. If you have more than one of these accounts, we’ll consider all of them when calculating your bonus." There's nothing in there about that 26th date. I transferred to an existing Eligible Account and enrolled in the offer by the 26th (Basics #1). It seems #2 is only for those who didn't have any Eligible Account(s). I think anybody who either enrolled or opened an account with the code can open and close additional Eligible Accounts throughout the funding period.

Of course, Ally could disagree, but I don't think they'd be playing fair based no their T&C.
TravelGeek
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by TravelGeek »

Super Hans wrote: Thu Nov 03, 2022 12:17 pm
The terms and conditions define Eligible Account(s) as "New or existing Online Savings accounts, Money Market accounts, and CDs at Ally Bank are eligible for the Cash Bonus. If you have more than one of these accounts, we’ll consider all of them when calculating your bonus." There's nothing in there about that 26th date. I transferred to an existing Eligible Account and enrolled in the offer by the 26th (Basics #1). It seems #2 is only for those who didn't have any Eligible Account(s). I think anybody who either enrolled or opened an account with the code can open and close additional Eligible Accounts throughout the funding period.

Of course, Ally could disagree, but I don't think they'd be playing fair based no their T&C.
But the FAQ on https://www.ally.com/go/bank/bonus-offer/ includes this:
What do I need to do to get the cash bonus?
If you plan on transferring new money to your existing eligible Ally Bank account, you must enroll here by 10/26/2022.

If you plan on opening a new eligible Ally Bank account, you must use the offer code GETPAID during account opening by 10/26/2022. Learn more here.
So I already had an eligible savings account with Ally, and that's where I moved my money after signing up for the promo with my email.

What do they mean by "opening a new eligible Ally Bank account" - does that refer to people who literally had zero Ally accounts and had to open their eligible account by 10/26/2022 with the offer code? Could I as an existing customer even have entered the GETPAID offer code if I had opened a new CD on 10/25/2022?

The FAQ continues:
Once you have enrolled or opened a new eligible Ally Bank account, move at least $1,000 from an account at another financial institution to your eligible Ally Bank account by 11/4/2022. You will then need to maintain the funds in your account through 1/15/2023.
It says "funds in your account" (singular). Is that the individual savings account or CD, or the aggregate of all my eligible accounts maintained at Ally?
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SmileyFace
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by SmileyFace »

TwstdSista wrote: Thu Nov 03, 2022 9:24 am
Jags4186 wrote: Thu Nov 03, 2022 8:51 am ....
FYI, Ally will do 1 day ACH pulls, so you can initiate a pull today and get the money in there for tomorrow.
My ACH pull took three days - the money left my checking account on a Thursday and landed at Ally on Monday. Possibly because I was a new customer?
Yeah - I don't understand why people say "Ally will do 1 day pulls" when their T&Cs clearly state 3 BUSINESS Days. My last one took 5 days since it was over the weekend. The main reason I don't use Ally is their ACH times are horrible (folks have said in other threads NOT to initiate a Pull or Push from Ally - do it from the other side for a better ACH time).
@Jags - can you tell us the secret trick for this 1-day ACH pull?
I have been a customer for years - have pulled from 2 different places multiple times - I never get anything less than 3 Business Days.
Here is my last ACH Pull from Ally - screenshot from Ally - maybe there is a trick I am missing:
Image
vanguard111
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by vanguard111 »

Is it possible to check with Ally if I'm successfully registered for this 1% GETPAID promotion? I did receive the confirmation email in October, saying:

"Good news: You're enrolled in the cash bonus"

The reason I ask is an Ally Customer Service Rep told me that:
"we are unable to confirm your enrollment on our end, we are sorry to say."

So my question is:
Does Ally Bank not confirm promotion registrations in general?
Or despite receiving the confirmation enrollment email, I'm actually not registered for the promotion?

With GS Bank Marcus -- they had a nice status bar for tracking promotion status. I wonder if Ally Bank has something similar.


Thanks for the help!
goaties
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by goaties »

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maywood
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by maywood »

I agree their process isn't very reassuring. I got one email showing the 4 steps of getting the bonus with the first step checked (that I had opened the account with the GETPAID promo code), but I never got a corresponding email when the money got there and therefore step 2 had been completed. I did get an email that they got the money, but no mention of the bonus in that email.

I did not get the email you got saying "Good news: You're enrolled in the cash bonus".

When I signed up I saved screen shots of every step. Almost every page shows that the GETPAID promo code had been applied.

Marcus is the best in showing your progress/current status of your promos!

maywood
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anon_investor
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by anon_investor »

vanguard111 wrote: Fri Nov 04, 2022 5:49 am Is it possible to check with Ally if I'm successfully registered for this 1% GETPAID promotion? I did receive the confirmation email in October, saying:

"Good news: You're enrolled in the cash bonus"

The reason I ask is an Ally Customer Service Rep told me that:
"we are unable to confirm your enrollment on our end, we are sorry to say."

So my question is:
Does Ally Bank not confirm promotion registrations in general?
Or despite receiving the confirmation enrollment email, I'm actually not registered for the promotion?

With GS Bank Marcus -- they had a nice status bar for tracking promotion status. I wonder if Ally Bank has something similar.


Thanks for the help!
When you login is there a message reminding you to finf for the promotion?
TravelGeek
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by TravelGeek »

anon_investor wrote: Fri Nov 04, 2022 9:06 am
When you login is there a message reminding you to finf for the promotion?
I saw it once, earlier this week, but now I see teasers such as

“ Whatever you're saving for, make your money work harder with an Ally Bank High Yield CD.”
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indexfundfan
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by indexfundfan »

SmileyFace wrote: Thu Nov 03, 2022 1:17 pm I have been a customer for years - have pulled from 2 different places multiple times - I never get anything less than 3 Business Days.
Here is my last ACH Pull from Ally - screenshot from Ally - maybe there is a trick I am missing:
Image
Have you done prior transfers larger than $250 from that specific bank more than 60 days ago? This "trick" reportedly worked for many people, including me. I'm not sure why it didn't work for you (if you have already made such transfers).
My signature has been deleted.
TravelGeek
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by TravelGeek »

Finally got a reply this morning (Friday) to my secure message from last Sunday. Unfortunately she didn’t address my question about opening a new CD after 11/4 at all; the CSR just pasted some random stuff about the promo from the T&Cs into the reply and also added that they have no way to verify that I actually registered. I didn’t ask about that, but that alone is pretty eye opening.

I have responded with another message re-stating my question. Can expect to hear back next Wednesday, apparently.
anthro789
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by anthro789 »

I signed up for the Ally Bank "getpaid" promotion by opening a new savings account. I used the promo code and my screenshot of the account summary after I completed opening the account showed that the "get paid" promo code was applied. I opened the account on October 26 (the last day of the promo) and my transfer was completed on October 31 (the deadline for funding was Nov 4). According to Ally's promotion material under the question "How do I know if I was successful in enrolling for the cash bonus?", they answer, "you will receive a Cash Bonus account opening confirmation email 2-3 days after you open your Ally account." Today is the 6th business day and I still haven't received that email. All I got was a generic email immediately after I opened the account but it did not mention the cash bonus promotion. I called Ally and got nowhere. They stated they have no way of confirming if I'm enrolled in the offer. I spoke with a supervisor and he wasn't helpful either. His solution was to wait and see if I get the bonus! My first impression of this bank is not good. Did anyone else not receive the email cash bonus confirmation? I'm not sure what to do at this point.
sycamore
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by sycamore »

anthro789 wrote: Fri Nov 04, 2022 12:05 pm I signed up for the Ally Bank "getpaid" promotion by opening a new savings account. I used the promo code and my screenshot of the account summary after I completed opening the account showed that the "get paid" promo code was applied. I opened the account on October 26 (the last day of the promo) and my transfer was completed on October 31 (the deadline for funding was Nov 4). According to Ally's promotion material under the question "How do I know if I was successful in enrolling for the cash bonus?", they answer, "you will receive a Cash Bonus account opening confirmation email 2-3 days after you open your Ally account." Today is the 6th business day and I still haven't received that email. All I got was a generic email immediately after I opened the account but it did not mention the cash bonus promotion. I called Ally and got nowhere. They stated they have no way of confirming if I'm enrolled in the offer. I spoke with a supervisor and he wasn't helpful either. His solution was to wait and see if I get the bonus! My first impression of this bank is not good. Did anyone else not receive the email cash bonus confirmation? I'm not sure what to do at this point.
For what it's worth, the first three emails I got had subject lines:
Day 1. "Your new Ally Bank account is now open"
Day 2. "You have a new Ally notice"
Day 3. "You're one step closer to getting your cash bonus"

The third was the only one related to the bonus.

Did you check your spam folder?
anthro789
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by anthro789 »

Yes, checked spam folder. I have received other emails from Ally and they are going to my inbox. Just haven't received anything regarding the bonus.
vanguard111
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by vanguard111 »

goaties wrote: Fri Nov 04, 2022 8:16 am
vanguard111 wrote: Fri Nov 04, 2022 5:49 am Is it possible to check with Ally if I'm successfully registered for this 1% GETPAID promotion? I did receive the confirmation email in October, saying:

"Good news: You're enrolled in the cash bonus"

The reason I ask is an Ally Customer Service Rep told me that:
"we are unable to confirm your enrollment on our end, we are sorry to say."

So my question is:
Does Ally Bank not confirm promotion registrations in general?
Or despite receiving the confirmation enrollment email, I'm actually not registered for the promotion?

With GS Bank Marcus -- they had a nice status bar for tracking promotion status. I wonder if Ally Bank has something similar.


Thanks for the help!
Well, that is concerning. But if you've read anything upthread, you'll see that Ally customer service is a mess right now. My advice: save that email. Maybe wait for the fuss to die down. Call in a couple weeks to verify. You got the email, so you can at least use that to prove your claim if it all goes south.
Have a follow-up on this.

Ally Bank responded to me that the customer service reps are unable to verify enrollment in the GETPAID promo generally. Their systems are not able to do it. And that if you have the email, it means you're registered. Ally Bank also advised me to save the email, in case proof is needed later.
goaties
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by goaties »

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SmileyFace
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by SmileyFace »

^ I think you are overthinking it. Make sure you added $50K and that your balance doesn't drop by prior-balance+50K.
goaties
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by goaties »

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BlackcatCA
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by BlackcatCA »

Now that the funding period has ended, is it safe now to transfer the new $$ into the higher rate NP CD? I plan to hold $$ in the NP CD, unless they raise savings rate above the NP CD rate.

I tried to chat with CSRs the last 2 days and couldn’t get a live person for >1 hr. The responses they gave after hours were useless (cut n paste from templates). I also sent 2 inquiries via secure mail and got different results. So wondering if the smart folks in this forum can advise. Thanks.
sycamore
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by sycamore »

BlackcatCA wrote: Sat Nov 05, 2022 12:56 pm Now that the funding period has ended, is it safe now to transfer the new $$ into the higher rate NP CD? I plan to hold $$ in the NP CD, unless they raise savings rate above the NP CD rate.

I tried to chat with CSRs the last 2 days and couldn’t get a live person for >1 hr. The responses they gave after hours were useless (cut n paste from templates). I also sent 2 inquiries via secure mail and got different results. So wondering if the smart folks in this forum can advise. Thanks.
One of the conditions is:
Keep the new money in your account through 1/15/2023.
Your new money must remain in your eligible Ally Bank account through 1/15/2023. Keep in mind, any withdrawals made during this time may reduce your bonus.
There was a prior discussion here about transferring money to from one eligible account (like savings) to another eligible account (like a CD). There was concern about (1) whether the other account had to be opened by 10/26/2022, and (2) whether you could transfer money between those accounts and remain eligible for the bonus.

I'm playing it safe and will keep my money in my original account (savings) through 1/15/2023.
Philly30
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Re: Ally offers 1% cash bonus on new deposits - up to $500 bonus

Post by Philly30 »

is it ok to open the NPCD now and transfer from my savings account
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