A real letdown. – Ally: Banking & Investing Review

Ok. Case and point. Credit cards ask 18%+, and yet for 6 times in 2 months I’m getting an email telling me the interest rate on my savings account with them has been reduced. When I started with them, it was 1.50% APY and now after reducing it gradually, and EMAILING me with each gradual reduction, they just sent an email telling me there’s been a change in my APY from .80% down to .60%. This is RAINDROPS compared to the interest credit card companies charge. And this is for me placing my money in an account at their bank, vs. the other banks with even lousier rates! I mean, is the banking system REALLY hurting so bad that they can only afford to now pay their customer .60%???? Inquiring minds would like to know!
Review by TeedOffSteve on Ally: Banking & Investing.