I use a brick and mortar bank for some of my savings. I’d love to get a CD interest rate closer to what Ally or other online banks offer.

Are brick and mortar banks will to negotiate with customers on interest rates? For instance, if I went into a branch and said I’m moving my money to Ally unless the bank matches Ally’s rates, do I have any chance of getting them to?

  • 6
    If you are threatening to take your $5K to Ally Bank, they will probably say "Don't let the door hit you on your backside on your way out". If it is $500K, they may ask a VicePresident to talk to you. Commented May 6, 2018 at 20:13
  • @Dilip - How much might be enough to get some attention? 25k? 50k?
    – Craig
    Commented May 6, 2018 at 20:16
  • 2
    @Craig that probably depends on the bank. You could probably talk to a manager, but I'd expect more like $100–250k for a small, local credit union up to $10M+ to get big national/international banks not to laugh you out the door. Probably no harm in asking, but TBH I'd be astounded if any bank gave more than a tiny (~.1%) bump no matter how much you have. I expect that at almost all the banks, even a VP of a branch doesn't have any power at all to give you a better rate if they wanted to.
    – Kevin
    Commented May 7, 2018 at 5:52
  • 4
    The simple answer to your question is "absolutely no chance". I have tried this (in Europe FWIW) with figures of 1m or so, and they just politely say "sorry no".
    – Fattie
    Commented May 7, 2018 at 16:49
  • 3
    If the deposit was large-enough to matter, you would probably already be on speaking terms with at least either the branch manager or some kind of "high net worth" advisor. If you're not...
    – TripeHound
    Commented May 8, 2018 at 11:12

2 Answers 2


Unless the bank was having problems, and needed to attract new deposits, or needed to stem the outflow of deposits from existing customers, they would be limited in the maximum they could offer in rates.

Customers keep their current bank because of inertia, or because of service, or because they like being able to walk into a branch once or twice a year.

Banks pay rates that allow them to attract deposits so they can make loans, fund their operations, and if they aren't a credit union they can still make their profit numbers.

So unless the money you will transfer will jeopardize their operation, they are limited to the deals on their rate sheets.


Your best bet will probably be Community banks. They are usually more flexible depending of course on the amount of money that you will be investing. Ask or try to connect or make an appointment with one of their BOD members or even the bank's President. Let them know of your good intentions

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