In pursuit of higher interest rates, I’ve decided to open a consumer account at Santander and at Ally.

As part of Santander’s extra20 program, you will get both an extra20 checking and savings account opened at once. You will receive $10 if you set up direct deposit of at least $1,500 per month and another $10 if you pay at least 2 bills using their website. The $20 will be deposited into your extra20 savings account at the end of each month.

Ally is currently offering a 0.86% APY with their savings account and free ATM withdrawals nationwide. My plan is to move any extra balance from Santander and into Ally to get the interest. Also I can withdraw from any ATM and the fees are reimbursed at the end of Continue reading →