ING/CapitolOne360 vs Ally vs other | Personal Finance & Lifestyle | Yakezie Forums

I just got an email from US Bank that they are closing the automatic savings mechanism to keep my account free. Up until now, I was able to keep my checking account free by setting up an automatic deposit of $25/month into a linked savings account. Now that is going away and the only way to stay free is to maintain a minimum balance of $1500 or a direct deposit of at least $1000/month.

This account is used for paying debts and is sandboxed from the rest of my money, so I don't want extra cash sitting there or to deposit that much. So I'm going to change.

I've heard a lot of good things about ING/CapitolOne 360 and Ally Bank. Is there one that you would recommend over another, or possibly a third bank or credit union altogether?

here are my needs/requirements

• Free checking
• Free bill pay
• No minimum balance. Balance with usually be between  $20-$500.
• Ability to deposit checks quickly (from Fort Collins, CO) for free.
• Direct Deposit of $150/week for 8 months out of the year

In terms of credit unions, my wife and I don't currently maintain any affiliations. I work in construction and she works in a supermarket.

See, ATM withdrawls and interest are features I'm least interested in. Any debit card I receive will just get locked up in my office and not get used and the average balance will be too low to be concerned with interest.

I also use Ally, although for their high interest online savings accounts. Never had any problems.

I use ING only because I opened my account up before Ally become popular. If I had my choice now, I would go with Ally, as they have a slight edge. 

I saw a sign up bonus for Capitol One 360 so I gave that a shot. They said I was an existing customer, but the forgot login page kept telling me that my information was incorrect, despite trying every phone number and zip code I've had since I was 7.

So I guess Ally it is!

Does anyone know how to get access to the Cap One 360 affiliate program these days? It used to be through FlexOffers, but I don't see it anymore. 

Thanks! 

_____

Eric – NarrowBridge.net said:

I am Capital One 360 user and have been since 2007 (here is an affiliate link with a $50 signup bonus).

I primarily use Schwab Bank these days. It links to my investment accounts, has check deposits from the phone, free transfers to and from other banks, and free ATMs with no fees internationally.

Can you deposit a money orders via remote deposit to Capital One 360? Ally requires you to mail money orders in which is a PITA, especially since one of my income comes on a post card and I have to use money orders to deposit the money into my account.

Post edited 3:40 pm – January 15, 2014 by Edward Antrobus

Eric – Narrow Bridge Finance said:

Odd to hear that, you should be able to deposit a money order with mobile deposit just like a check at any bank.

Unfortunately, Ally has decided to prohibit it according to their deposit agreement. It is that reason that I'm shopping around again. Twelve stamps per year is more than any interest I'm earning with them.