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The Daily Churn
Ep 49 - Ally & Fidelity: Best Hub Accounts for Churning
Sep 19, 2023
This podcast dives deep into the features that make Ally and Fidelity the best hub accounts for churning bank and brokerage bonuses. They discuss the benefits of using Ally, including its $200 checking bonus, high transfer limits, and same-day ACH transfers. They also cover Fidelity's $100 bonus, fast account opening, and zero-fee index funds. The podcast ends by comparing Fidelity to Vanguard and highlighting the supportive Fidelity subreddit.
39:46
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Quick takeaways
- Ally is recommended for bank bonuses with high transfer limits, competitive interest rates, and convenient scheduling features.
- Fidelity is an excellent hub account for brokerage bonuses with quick account setup, seamless ACAT transfers, zero expense ratio funds, and a supportive subreddit community.
Deep dives
Ally: A Reliable Hub Account for Bank Bonuses
Ally is highly recommended as a hub account for bank bonuses. It offers a checking account that provides convenient money movement capabilities with high transfer limits, allowing users to easily meet the requirements for various bank bonuses. One advantage of Ally's savings account is that it offers a competitive interest rate of up to 4.25%. Additionally, Ally supports high volume and high velocity transfers, making it suitable for handling large sums of money. The user interface may not be the most modern, but the functionality is robust and includes features like scheduling, automating transfers, and managing recurring transfers for optimal bonus earning.
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