As you may have noticed from the sidebar, I have reached my goal of getting $500 to open an investing account which means it was time to close out my goal with SmartyPig, I also now have a full month under my belt with Ally with two milestones under my belt for these popular accounts I wanted to let you know a little bit more about my experiences with these companies.
Some of you may remember my first foray into investing and how me not thinking things through properly was going to cost me a lot of money over the long run. I did what I said I was going to do and as you can see from the sidebar I have amassed enough money now to open that investing account at ScottTrade. For the past several months I have been putting my money in to an account at SmartyPig in order to reach my goal of $500. If you have never heard of SmartyPig before you can check out my review of them or visit their site directly for more information. In fact SmartyPig just raised their interest rates on balances less the $50,000.00 to 2.15%APY which solidly puts them at the top of savings account interest rates.
I reached my goal and I was excited about “quickly” gaining access to that money and getting it flopped into an investment account. I was a little bit taken aback when I realized SmartyPig wasn’t going to let me have my money for another three days. Like most bank accounts they hold deposits for three days to allow them time to clear. When I was finally able to close out the goal the process was painless. They give you the option to get a gift card to one of their incentive partners, get a SmartyPig debit card, or get it in a cold hard cash transfer. I opted for the cash transfer and poof had to wait another three days to get the money as I waited for that transfer to clear. Now I have my cash in my account and can go through the process of opening a Scottrade account with the $500 so expect a review of that process in the near future.
A while back I chose to make Ally bank my new online checking account provider. They had a pretty decent array of benefits and I had good experiences with their customer service folks, check out my review for more. Since I did my initial review of the Ally checking account I have a few updates to make. First and foremost, they really do pay you back for ATM fees. I got reimbursed for my ATM fee charges from last month. They deposited the money on the same day as my interest payment, which happened to be the 5th of April.
Now for the bad, something got messed up again with ATM card and I could use it as charge but I couldn’t withdraw cash. I talked to what is now 5 customer service reps before finding out they sent me a new pin in the mail and I should get it soon. I am sure I caused the problem but it shouldn’t have taken me 5 reps to find out they figured out a solution and someone forgot to call me. Oh well, I am still happy with the account and hope that I can get the pin situation straightened out now.