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 rated Ally Bank based on the following criteria that includes real customer reviews and bank fees, among others. Our bank report card is a proprietary rating system that highlights the financial health and stability of the bank.

A

MyBankTracker Rating

Customer Rating
Based on 513 Reviews
Financial Health
Based on Texas Ratio: 0
Bank Fees
vs. Average
Bank Rates
vs. Average
Mobile Deposits
Mobile Deposits
Mobile Banking
Quality of Mobile Services

Most Helpful Customer Reviews

bankaman60's Profile Image

Reviewed by bankaman60

Jan 17th 2015

5 out of 5 marks

Five stars by any measure

I'm confused about the the three-star rating when most of the reviews give a glowing five-stars - maybe there were a few folks who gave one star and that dragged it down? Anyway, as most people have noted, Ally is clearly the best way to go for online banking; and for those who are put off by the lack of brick-and-mortar locations, try thinking of banking differently. If you own a smartphone and a computer, there is absolutely no reason to "go to the bank"! Everything you might ever need to do can be done online and/or on the phone. Ally's phone reps are terrific - smart and patient, knowledgable about the products, and speak clear English (and possibly Spanish as well - I haven't checked). The no fee ATM feature is for real, and it's so convenient. It's also awfully nice to get nearly 1% interest on your savings account when virtually all the other banks give you next to nothing (like .005% or some nonsense, which is effectively zero). You even earn a bit on your checking account. No minimum balances, great online and mobile banking interfaces, great customer service: a winning formula, to be sure.

Is this review helpful? ▲ Yes 6 ▼ No 1

annalog's Profile Image

Reviewed by annalog

Jan 12th 2015

5 out of 5 marks

You have to be retarded to bank anywhere else

I've been a Wells Fargo customer for 8 years now and have many accounts with them, including my mortgage, but I won't keep cash there. WF is paying 0.01% on savings. It's really insulting given their profitability. At Ally, I get 0.99% with no service fees or crap to deal with. And their customer service is outstanding.

A+ for Ally.

Is this review helpful? ▲ Yes 4 ▼ No 0

jgwr1206's Profile Image

Reviewed by jgwr1206

Feb 9th 2015

4 out of 5 marks

Very Little To Complain About

I love Ally, mostly for it's interest rates and lack of any atm fees anywhere. My only smallish gripe is that to change my wife's name on the account or add someone to a joint account, ally still requires faxing or mailing in a bunch of documents. Who has a fax anymore?

Is this review helpful? ▲ Yes 3 ▼ No 0

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Bank Rates

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

0.99%

$0

$0

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

0.85%

$0

$0

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

0.99%

$0

$0

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

6 Month CD

0.60%

$0

9 Month CD

0.64%

$0

12 Month CD

1.05%

$0

18 Month CD

1.10%

$0

24 Month CD

1.29%

$0

36 Month CD

1.40%

$0

48 Month CD

1.40%

$0

60 Month CD

2.00%

$0

TERM RATE (APY) Min Deposit
11 Month CD

0.87%

$0

TERM RATE (APY) Min Deposit
3 Month CD

0.30%

$0

6 Month CD

0.60%

$0

9 Month CD

0.64%

$0

12 Month CD

1.05%

$0

18 Month CD

1.10%

$0

24 Month CD

1.29%

$0

36 Month CD

1.40%

$0

48 Month CD

1.40%

$0

60 Month CD

2.00%

$0

TERM RATE (APY) Min Deposit
11 Month CD

0.87%

$0

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