Comments on: Ally Bank Foolishly Losing Our Business

By: Oceans99

Oceans99 — Mon, 26 Sep 2011 02:35:39 +0000

Hmmm I opened up a money market account 6 months ago with fico of 569. Had no issues. Just opened checking last week. No issues. So not sure about fico score issue?

By: Mr. ToughMoneyLove

Mr. ToughMoneyLove — Sun, 25 Sep 2011 00:52:38 +0000

The argument that a credit score is needed by Ally Bank to identify a depositor is complete bullshit. I know this because I have accounts at other online banks that do not run even a soft credit check. You are just a shill for Ally. Even Ally didn’t make this argument. They just said “their investors require it.”

By: D

Sat, 24 Sep 2011 23:05:50 +0000

This is blatantly false. There is only one penalty they offer than has no penalty for early withdrawal and they very clearly state that for any other CD they will charge you a fee equal to 60 days worth of interest for early closure. Also, they never charge you to mail you a check.

By: D

Sat, 24 Sep 2011 22:45:13 +0000

I agree with you that the borrower is slave to the lender and we have to eliminate the debt system. Unfortunately this requires a more radical change as the central bank (federal reserve) lends all printed dollars to the country with debt attached. This is the real reason the system works the way it does. Banks borrow money with debt attached and they then need to put people in debt to transfer the loan from them to someone else.
Unfortunately this is not an argument against Ally as they do not loan money, so they are clearly not trying to get you into debt.

By: D

Sat, 24 Sep 2011 22:36:45 +0000

They only require a 600 to open a checking account here, so you are lying about your score. Secondly, why do you own so much on a low value house and why are you trying to refinance if you have 6 figures sitting in a bank account. This is what is wrong with Americans and why they don’t understand that they are all a risk to US banks. I am always absolutely amazed to see people who make that much money and still somehow manage to spend way more than they make. This is the reason for the recession. Sure, most people were indoctrinated into it by people trying to take advantage, but at what point does common sense come through and inform people not to spend more than they have. People who make less than 100 Gs a year should not own million dollar houses, plain and simple. Stop making and buying million dollar homes you morons. Stop taking more than you can afford even if it is being pushed upon you. Canadians weren’t hit hard by the recession because we don’t live so far beyond our means.

By: D

Sat, 24 Sep 2011 22:22:36 +0000

I’m honestly not sure what you mean when you say your son can prove his identity with an online bank without a credit check. There is literally no way to do this, so clearly no other online bank is doing this for him. You realize that I can just lift someones wallet and then send in a copy of their ID and then say I am them right? This does not establish proof of anything. They need to see a credit history showing the same name, address, SSN, mother maiden name, and other personal information. This credit history could not be established without someone verifying your identity in person at one point, therefore it makes sense. Since this is the only existing way to make such a confirmation (again, maybe there should be other ways to do this, blame the US government), they NEED to do this to open an account for you if they cannot verify your identity in person. I am not sure what you don’t understand about this.

By: D

Sat, 24 Sep 2011 22:16:46 +0000

This is the case for many financial institutions but not Ally Bank as they offer no loaning services whatsoever. So clearly they are not trying to get you into debt. Use your head.