About Ally Bank

Ally Bank Member FDIC was built on a simple premise: you should expect more from your bank. We are an online bank dedicated to helping our customers save more by offering CD's, Money Market, Savings and Checking accounts with some of the most competitive rates in the country and no monthly maintenance fees to eat away at earnings. Plus, if you have questions, you can reach a live customer service representative 24/7.
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Overall Rating

MyBankTracker Grade

A+
Customer Rating
Based on 484 Reviews
Financial Health
Based on Texas Ratio: 1.5
Bank Fees
vs. Average
Bank Rates
vs. Average
Mobile Deposits
Mobile Deposits
Mobile Banking
Quality of Mobile Services

Customer Reviews

Most Helpful Customer Reviews

Betty L's Profile Image

Reviewed by Betty L

Feb 17th 2010

5 out of 5 marks

Ally bank is the best choice!

I just started with Ally and they are epic. I cannot believe the amazing customer service. If you think banking online is scary and inconvenient than let all fears go. They provide pre-paid postage envelopes to send checks, reimbursements on ATM fees, and 24 hour customer service that has virtually no wait time. It is fast convenient and supports my needs. I will never have to add "stop at the bank" on my to do list because it is all online. My bank will go with me wherever I go. To top it all of they have the best rates! The interest is accumulative. It seems to be good to be true but it really is true. They are able to afford all of these extra commodities for their customers because they don't have physical locations. That can add enormous amounts of fees having to pay more employees and property fees. Choose ally for sure!

Is this review helpful? ▲ Yes 15 ▼ No 4

dvb12503's Profile Image

Reviewed by dvb12503

Sep 7th 2012

2 out of 5 marks

Terrible – Most Difficult Banking Experience Ever!

Dear Mr.Michael [Redacted]

I had set up a custodial account for my minor child. When he turned 18 and was going off to college we wanted to change this from a custodial to a joint account. On Aug. 11, 2012 I spoke to one of their representatives and was instructed to send a “letter of instruction” along with a copy of my son’s drivers license. This was done the same evening.

No notice from Ally. I followed up and was then told that I needed to send a copy of an envelope showing my son’s home mailing address. This was done on Aug. 23rd. I was told that I would hear something in 1 week.

No response from Ally. I followed up again and was then told that I now needed to fax a copy of his SS card. This was done on Aug. 31. They couldn’t find the fax and then asked that it be resent which was done on Sept. 5th.

Today I’m told that they have the necessary documentation and now after a whole month of waiting will begin the process of making the account changes.

Be prepared for many 3-4 minutes holds over many days. It’s impossible to speak to the same person twice or get anything accomplished.

Ally’s not a bad bank as long as you don’t need to speak to anybody or have anything done!

Don

Is this review helpful? ▲ Yes 8 ▼ No 3

Pamey P's Profile Image

Reviewed by Pamey P

May 26th 2010

1 out of 5 marks

Ok at first, then...whoa...you won't believe this

I authorized a $25,000 withdraw from my checking account to fund a new Ally CD. Ally did the withdraw...TWICE. There is $50,000 gone from my checking account without my authority. When I called them, they said "oops"; we will refund the money in 48 hours. 48 hours later, no money. When I spoke to customer service they said it would take 4-5 more business days to return the $25,000 to my account. This is CRIMINAL. Do NOT link your checking account to your ALLY account. In fact....STAY CLEAR of this bank. They are thieves. I just hope they return my money. I will update when I see the money in my account.

Update...more than a week later, still no money in my account. So I went to my local bank and had them do a transfer back into my local checking account from Ally Bank using a "Written Statement of Unauthorized Debit" form. This form also severed ties with Ally and my local checking account. They are thieves, I repeat, STAY CLEAR of this bank.

Is this review helpful? ▲ Yes 14 ▼ No 11

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Bank Rates

NAME RATE (APY) MIN TO EARN APY Min Deposit
Online Savings

0.90%

$0

$0

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NAME RATE (APY) MIN TO EARN APY Min Deposit
Money Market

0.85%

$0

$0

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NAME RATE (APY) MIN TO EARN APY Min Deposit
Online Savings IRA

0.90%

$0

$0

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NAME RATE (APY) MIN TO EARN APY Min Deposit
Interest Checking

0.10%

$0

$0

Interest Checking

0.60%

$15,000

$0

TERM RATE (APY) Min Deposit
3 Month CD

0.30%

$0

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6 Month CD

0.60%

$0

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9 Month CD

0.65%

$0

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12 Month CD

1.00%

$0

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18 Month CD

1.04%

$0

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24 Month CD

1.20%

$0

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36 Month CD

1.20%

$0

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48 Month CD

1.30%

$0

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60 Month CD

2.00%

$0

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TERM RATE (APY) Min Deposit
11 Month CD

0.87%

$0

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TERM RATE (APY) Min Deposit
3 Month CD

0.30%

$0

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6 Month CD

0.60%

$0

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9 Month CD

0.65%

$0

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12 Month CD

1.00%

$0

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18 Month CD

1.04%

$0

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24 Month CD

1.20%

$0

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36 Month CD

1.20%

$0

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48 Month CD

1.30%

$0

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60 Month CD

2.00%

$0

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Banking Fees

Type Fee National average
Monthly Inactivity

$0

$7

Non-Sufficient Fund (Overdraft)

$9

$30

Stop Payment item

$15

$27

Return Deposit

$7.50

$13

Domestic Wire Transfer (Outbound)

$20

$22

Domestic Wire Transfer (Inbound)

$0

$9

Non-Bank ATM

$0

$1