You're welcome. I don't considering No Penalty CD one of the better options because the rates are lower than other HY CDs and can only be locked in for 11 months. The rates are still better than a savings/mm account but the funds aren't as quickly/immediately available. If you're worried premature withdrawals may become a reality then I'd suggest putting some money into a No-penalty for peace of mind.

Yes, MM funds are most-immediately available via the debit card. Keep in mind if you need to transfer money from your Ally Savings into your MM it's immediately available but you need access to an Ally recognized phone/computer.

The reason for not putting all my funds into CDs is just a matter of preference. I prefer to have a mix of options, partly hedging and quick access to funds for other opportunities. On the other hand HYCD rates haven't been this high since 2010 so it's a unique opportunity. On the other other hand if you put all your funds into long term CDs and need to early-withdraw your interest penalty could cancel out the additional interest accrual of a CD over a Savings/MM, which is immediately accessable.

To start I suggest you open a Savings and MM asap. It will take your current bank around 3 days to transfer your funds so you're looking at next week. In the meantime use one of the CD interest calculators on Ally or elsewhere to compare numbers, timing and determine what feels best for you.