GMAC Bank - Many Know About GMAC Loans, But They Have a Bank Too?

Should you do your banking with the GMAC Bank? Many people are surprised to hear that GMAC has a bank, as they typically associate them with auto loans. How is their banking service compared with other banks?

GMAC Bank - Many Know About GMAC Loans, But They Have a Bank Too?
By [http://ezinearticles.com/?expert=William_Perry]William Perry

When you think of GMAC, typically you don't think of the GMAC Bank-you think of the auto loans ,as this is what the company is known for. what many people aren't aware of is that GMAC is actually bank as well.

What does their bank offer? They offer services such as money market accounts, CODs, mortgages, insurance and of course, auto loans. Most people don't know that they offer all the services that they do, but their other services are top quality as well, and certainly something worth looking into.

Obviously, you want to know one thing when it comes to GMAC Bank-what are the interest rates? I can't tell you this for their mortgages and loans, because that will depend on your credit score, but for the money market account, it's three percent, and the CODs are four point 15 percent.

With these services, you get things such as all day long banking from the internet. in case you are out of the country, or just work third shift, you don't have to worry about not getting your money when you need it. You also receive a Visa debit card that is accepted anywhere around the planet.

The thing about this card is that, instead of buying something and putting it on your credit card bill, which you will then have to pay off later, with this device the money is deducted directly from your bank account, eliminating this step from your requirements.

Obviously, this makes it essential to know your current balance before making purchases, because if you go below a certain amount, you will have to pay fees, which I will cover in a moment. There are no transaction fees associated with the GMAC visa debit card, another nice feature, although many banks offer this.

How can you get a GMAC Bank card? It's very simple-just open up a money market account, and you will receive a card free of charge in the mail, and there's nothing else you have to do.

The best thing about the money market account is that you can open it up right from the internet. The days of driving to the bank and waiting for an hour or more to do this are long gone, and you will be able to achieve this in fifteen minutes or less.

You receive free use of other banks automatic teller machine, so you don't have to scour the city when you are in trying to find a GMAC ATM. Also, provided you keep at least five hundred dollars in your account, there are no fees associated with having an account, another nice feature you should keep in mind.

When it comes to banking, if you don't at least look into GMAC Bank, you would be doing yourself a disservice.

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