Comments on: Considering Open Another Savings Account: GMAC or UFB

By: The Sun

The Sun — Thu, 14 Dec 2006 14:41:24 +0000

BD: If they also reimburse ATM fees, then that’s better than UFB as UFB only reimburse about $4.5 every month. Regarding the checking writing, I don’t think I will write a lot of checks.

Bob: Thanks for the information. I heard about the hard credit check by GMAC, but what I read from Fatwallet.com is that the hard check was at the early stage of the bank. Now it seems only soft pull is conducted recently. But I definitely want to find more about this. If they are still doing the hard pull, then I will go with UFB.

Golbguru: I am not so sure how the insurance will change anything. If you don’t use it (which I definitely don’t want to), you never know the real difference.

By: Golbguru

Golbguru — Thu, 14 Dec 2006 03:40:15 +0000

Sun, just a flying remark. You mentioned you have all joint accounts. ING says on it’s website that joint accounts and individual accounts are insured separately (each for $100,000)…I am not sure if this information will be helpful to you.

By: Bob

Bob — Wed, 13 Dec 2006 17:53:10 +0000

I believe GMAC does a hard check for new accounts.Read this link at here.

By: Binary Dollar

Binary Dollar — Wed, 13 Dec 2006 17:07:07 +0000

I use GMAC so here are some fun facts:

-They have check writing and debit card associated with their account. With free checks.

-You are limited to 6 free outgoing transfers per month. This includes transfers to other bank accounts or paying bills from the account. This also includes your check writing and debit card transactions. This does NOT include ATM transactions. If you surpass this 6, they hit you with a 10 dollar fee per violation.

-They reimburse you ALL ATM fees. I think it’s unlimited withdrawals without incurring charges. So I try to use cash most of the time to avoid the “6 limit” from above.

-It’s my main bank account. I’m pretty happy with it.