Ally Quiz Part I: How Well Do You Know Your Deposit Options?

Years ago, putting money into a bank account was a one-size-fits-all proposition: You would deposit money into your account, and the bank would pay you interest.

Over the years, a number of other deposit options evolved. But do you know enough about the rewards and conditions of each type of account to assess which of the options best suits your needs?

Take this two-part quiz to see how much you know about Ally deposit accounts, and about deposit accounts in general (we’ll present Part II in one week).

1. Which type of Ally Bank account lets you make unlimited transactions on your account?

A. Online Savings Account.

B. Money Market Account.

C. Raise Your Rate CD.

D. Interest Checking.


2. Which IRA lets you take tax-free distributions at retirement?

A. Roth IRA.


C. Traditional IRA.

D. “B” and “C.”


3. What’s the Ally eCheck Deposit feature?

A. A direct deposit into your Ally account.

B. A way to deposit checks into your Ally account using a computer and scanner or the Ally Mobile Banking App.

C. A way to purchase online merchandise through your Ally account.

D. Any Ally deposit you make from someone whose last name begins with the letter ‘E.’


4. Which type of IRA plan may allow you to deduct personal contributions from your taxes for the year?

A. Roth IRA.


C. Traditional IRA.

D. Non-traditional IRA.


5. With which type of Ally deposit account can you use Popmoney — a service that lets you send money directly to someone via email or text message?

a. High Yield Certificate of Deposit.

b. IRA Online Savings Account.

c. Money Market Account.

d. Madmoney Account.


And don’t forget: We’ll present Part II of our quiz next week. Check back for the rest…

How well do you know Ally’s savings options? How do you decide which type of savings account to open?



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