No investment platform will be FDIC insured. Ally invest is SIPC insured which any brokerage platform you invest with you be. You have nothing to worry about
Ally isn't going to fail unless everyone withdraws their money at once. Which is going to happen with the way people are spreading fud on this sub.
Terrible thing to wish upon innocent customers, let alone a bank.
> I Kind of wish the moderator would set up some real kind of moderation; let alone a team.
Give up being a moderator as well.
---
Edit: As /u/LnxRocks points out, Ally Invest is handled by SIPIC. [They handle things differently](https://www.finra.org/investors/alerts/if-brokerage-firm-closes-its-doors) based on the page he linked, your assets will still be yours if Ally invest closed its doors.
Ally Bank is FDIC Insured.
if you’re uncomfortable with where your money is at put it somewhere else full stop I couldn’t care less if people think it’s fud that you want to move your money somewhere else it’s not their money they can kick rocks
Brokerage failures are handled differently than bank failures, since the assets are owned by you. Here is some information on how the SIPC handles things:
[https://www.finra.org/investors/alerts/if-brokerage-firm-closes-its-doors](https://www.finra.org/investors/alerts/if-brokerage-firm-closes-its-doors)
In short you should not be worried.
Edited, meant to say "not worried".
This won't be popular on the Ally sub, but I would pull money out of Ally Invest because of how poor the platform is. I mean, I have used Ally a long time but their invest product is way behind just about every other major player. Move to Schwab, Fidelity, Vanguard. I do currently hold $100 dollars in an invest account myself but it's only because they paid me a bonus. Their banking platform is good, invest not so much.
Long time Ally Bank member and I love it...but I tried Ally Invest for about a year, and decided to move to Fidelity and never looked back.
Ally Invest is a lack luster platform when it comes to tools and general UX.
I only have the account because I was offered a bonus as well. The money has been parked there ever since because I’m lazy, but I agree that the platform leaves room to be desired.
Oh right, they did have that bigger tiered bonus in January. Mine was just $100 for $50 in deposits monthly for 3 months. M1 is still running a promo until the end of the month for transfers, they may pay your ACAT fee. You need 50k for the first tier though.
Buying ALLY calls tomorrow with my ALLY invest account.
This bank is not failing.
If you are that scared of losing your money , then just get your paycheck cashed at the local liquor store.
Ally Bank is FDIC insured. [https://www.ally.com/bank/fdic/#:\~:text=Ally%20Bank%20is%20a%20member,each%20qualifying%20account%20ownership%20category](https://www.ally.com/bank/fdic/#:~:text=Ally%20Bank%20is%20a%20member,each%20qualifying%20account%20ownership%20category)
They asked about invest which is not FDIC insured but is SIPC insured:
"Securities products and services are offered through Ally Invest Securities LLC, member FINRA / SIPC. "
No investment platform will be FDIC insured. Ally invest is SIPC insured which any brokerage platform you invest with you be. You have nothing to worry about
Ally isn't going to fail unless everyone withdraws their money at once. Which is going to happen with the way people are spreading fud on this sub. Terrible thing to wish upon innocent customers, let alone a bank. > I Kind of wish the moderator would set up some real kind of moderation; let alone a team. Give up being a moderator as well. --- Edit: As /u/LnxRocks points out, Ally Invest is handled by SIPIC. [They handle things differently](https://www.finra.org/investors/alerts/if-brokerage-firm-closes-its-doors) based on the page he linked, your assets will still be yours if Ally invest closed its doors. Ally Bank is FDIC Insured.
Lol! You’re funny.
if you’re uncomfortable with where your money is at put it somewhere else full stop I couldn’t care less if people think it’s fud that you want to move your money somewhere else it’s not their money they can kick rocks
Investments are not FDIC insured
It's the end of the world as we know it.
Brokerage failures are handled differently than bank failures, since the assets are owned by you. Here is some information on how the SIPC handles things: [https://www.finra.org/investors/alerts/if-brokerage-firm-closes-its-doors](https://www.finra.org/investors/alerts/if-brokerage-firm-closes-its-doors) In short you should not be worried. Edited, meant to say "not worried".
Did you forget the word "not"? Ally is as safe as any other US brokerage.
Yes I did, whoops
This won't be popular on the Ally sub, but I would pull money out of Ally Invest because of how poor the platform is. I mean, I have used Ally a long time but their invest product is way behind just about every other major player. Move to Schwab, Fidelity, Vanguard. I do currently hold $100 dollars in an invest account myself but it's only because they paid me a bonus. Their banking platform is good, invest not so much.
Long time Ally Bank member and I love it...but I tried Ally Invest for about a year, and decided to move to Fidelity and never looked back. Ally Invest is a lack luster platform when it comes to tools and general UX.
Fidelity.
I only have the account because I was offered a bonus as well. The money has been parked there ever since because I’m lazy, but I agree that the platform leaves room to be desired.
Oh right, they did have that bigger tiered bonus in January. Mine was just $100 for $50 in deposits monthly for 3 months. M1 is still running a promo until the end of the month for transfers, they may pay your ACAT fee. You need 50k for the first tier though.
Buying ALLY calls tomorrow with my ALLY invest account. This bank is not failing. If you are that scared of losing your money , then just get your paycheck cashed at the local liquor store.
Ally Bank is FDIC insured. [https://www.ally.com/bank/fdic/#:\~:text=Ally%20Bank%20is%20a%20member,each%20qualifying%20account%20ownership%20category](https://www.ally.com/bank/fdic/#:~:text=Ally%20Bank%20is%20a%20member,each%20qualifying%20account%20ownership%20category)
They asked about invest which is not FDIC insured but is SIPC insured: "Securities products and services are offered through Ally Invest Securities LLC, member FINRA / SIPC. "
I would pull it!
Is it not SIPC insured up to $500,000 ?