CD Discussion Thread

We certainly are!

However, credit unions will not be required to submit their Q3 financial data to the NCUA until approximately the twenty-sixth of October. Thereafter the NCUA will ruminate for a number of weeks before finally releasing their Q3 summary some time around Thanksgiving.

Only after that summary is released can the three rating services go into action. You can look for them to provide us new ratings, based on Q3 data, very roughly three months from now . . . give or take.

BTW I just checked Weiss again:


Ally is now disallowing online closure of NP CDs. You now have to call in. I saw this discussed on DA and I verified that this message now shows on Ally:

We’re only processing early withdrawals by phone right now.
Call us at 1-877-247-2559. We’re here 24/7.


Wow that’s big news and I was unaware. Thank you for posting!

I see the same message as you. Not sure whether it’s temporary or a change in policy.

Maybe they have a retention division now to try to talk you out of cancelling … like Cable companies, etc.


It’s possible but cable companies offer better rates to retain customers. Would Ally offer a higher interest rate in their NP CDs to retain investors? Not sure about that.

I meant that mostly in jest.

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If anyone managed to get better rates by threatening to withdraw, we will hear it soon enough here. :grinning:

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Another change that Ally is making - They are requiring that you give them your cell number if you want to use online banking.

Here is the gist of the message:

As part of our commitment to your security, we’re removing the email option in the coming weeks because our team has identified a trend of fraudsters attempting to take advantage of security codes delivered to email. We ask for a security code when you log in from a device or location we don’t recognize.

We’ll be delivering your security code by SMS text message instead of email for a more secure delivery. To make sure you don’t lose access to online banking, we recommend that you log in and make sure you’ve got a phone number registered that can receive text messages.

Their excuse is the same for the other hoops they make you jump through, or paper that you must sign in triplicate in six places - for your protection. Ha! At best, it’s for their protection, at least according to their legal department. At worst, it’s because it’s easier / cheaper for them. Plus they get the added benefit of being able to spam your phone.

I’m leaving my CDs until they mature, but am moving my checking to Discover. I’m no big fish, but it will be a nice chunk of change that departs when the CDs mature.


Why don’t you sign up for a free google voice phone number and use that?


I have only gv. Some banks & other places wont send sms to gv… a real pain in the neck, textnow does not work then either

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Google voice numbers did not work for me; I had to enter a “real” cellphone number.


I use Google Voice for most of my accounts and then I set it up to send my texts to email so it’s just like getting an email with it. I have encountered a few banks that won’t let me use it. I don’t have Ally.

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I also use G-voice as my primary #; unfortunately, with the new change at Ally, and for at least one other that I can’t remember the name of, G-voice does not work.

It’s interesting that Ally is making it a bit harder to break the NP CD. Is it a coincidence that Ally has kept its savings account at 0.8%? This is now the highest among Marcus, Discover, Amex and Capital1. Maybe Ally does want to attract / retain your money.

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BofA seems to have removed the email authentication function as well, in the last couple of days.

I considered it. I may still consider it at some point in the future. But, I’ve let them put a few straws on my back, and this one did it for me. Besides, how will they know if anything is wrong if no one does anything.

To be fair, other than their security group (for reasons other than this one), their customer service people are top notch. They are polite, professional, knowledgeable, are easy to understand with no effort, and don’t seem to follow a script. If it weren’t for this change, I would remain with them.

I don’t use cell phones and I pay no cell phone service provider every month. Use Google only for outgoing, free, calls.

Any financial institution that insists I buy cell service in order to become their customer can go pound sand. That said:

I can recall instances when, for verification purposes, a financial institution has reached me on my land line and provided a code via a voice message. There is nothing wrong with that and it works for any telephone, including cell phones.

But when they INSIST on using TEXT: screw 'em!


I thought I was the last person on earth without a cell phone.

I agree "screw 'em!


Not at all. My best estimate is that roughly ten percent of Americans do not choose to pay for cell service.

My own decision came about 1982. My boss sent me into NYC to a seminar there on cell phones, which were very new at the time. I listened as they explained how it all was going to work. I thought cellular technology was intrusive; I did not want to pay for something like that. And I never have.