Friday, April 9, 2010

Ally Bank Redux

Back in February, during the worst winter storms we've seen in decades, I went on a bit of a "rant" abut the Ally Bank commercials. Basically, the message seemed somewhat hypocritical from a bank run by former "Big Bank" executives and supported by the U.S. Government (read: taxpayers).

So it is with a sense of irony that I received a solicitation in the mail from Ally Bank to open an interest checking account. No, they aren't stalking (mocking?) me. You see my mortgage is held by GMAC Mortgage and this offer came through them. The product itself is compelling: interest checking with no minimum balance, no ATM charges, and no monthly fees. Sounds like a pretty good deal just not sure how they can make any money on the account. But I guess they don't have to worry about that.....

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