The Sun's Financial Diary

but they will come a rather heavy price. Since now I am working in the DC area and will soon be a resident of Virginia, I started to tune my radio to news stations in this area. Early this week on my way back from work, this piece of news got my attention. Virginia Governor [...]

I have talked about Ally Bank quite a lot recently, from my decision to open an account with the bank, to troubles when trying to get a second account, to eventually leaving the bank after only two weeks. It wasn’t a very good experience for me, even though initially I thought I could use Ally [...]

I decided to end my short relationship with Ally Bank, though not completely. For the two weeks that I banked with Ally, I felt very disappointed about the bank, not only because the trouble it caused during the process when I was opening my second CD account last week, which is very discouraging, but also [...]

This is ugly! Actually it’s much uglier than I first thought. Last Thursday, I opened an Ally Bank 9-month No Penalty CD account. However, due to some errors in the process, I ended up opening two accounts, not just one as I wanted, each with an initial deposit of $56,000. Since I don’t have that [...]

I just had an argument with the bank that doesn’t make me feel very comfortable. When I opened Ally Bank accounts last week, I deposited only $1,000 in the 9-month No Penalty CD account. That’s just the initial deposit that I plan to add more to later after the account is set up (it doesn’t [...]

Well, I finally pulled the trigger to open an Ally Bank Online Savings Account and a 9-month No Penalty CD Account, after   mulling the idea for weeks but only watching the rates slipping further and further. Had I opened the account when I first discussed Ally Bank’s products at the beginning of the month, I [...]

It looks like I made a big mistake about two months ago when I moved all my money from Dollar Savings Direct to IGoBanking. I have left IGoBanking a long time ago, but moved back in April after seeing their actually increased the rate of their savings account from 1.85% APY to 2.12% APY, the [...]

Here’s another high-yield savings account offer, even though the rate isn’t as good as the rate from Ally Bank or Discover Bank I mentioned earlier. The new offer is the American Express Personal Savings Account. The credit card issuer received permission from the Fed to become a bank holding company in November 2008, making it [...]