A+ MyBankTracker Rating

Ally Bank

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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MyBankTracker rated 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. See how it’s rated.

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Customer Reviews

Most Helpful Ally Bank Bank Customer Reviews

  • S
    Reviewed By Scofam Jul 21, 2015

    Warning!!! Do not lease with this company!!! We were stolen from!

    I cosigned for my daughter to lease a Jeep. She leased it and let the Jeep dealership know she wanted to purchase it at the end of the lease.
    On Father's day someone ran a red light and hit her. She rolled a few times. She is still sore and has some issues but she is alive.
    She had about five months left in the lease. The buy-out at the end was $22,000.00.
    The insurance company is offering the current value of the Jeep which is well above the buy-out price. Ally is demanding ALL of the money from our insurance company, not just what was owed and the residual.
    My insurance company said they have never experienced the problems they are having with Ally, nor have the ever heard of a finance company not giving the payoff amount but demanding all of the insurance money.
    I contacted the dealership and spoke with the head of finance. He said in 30 years he's never heard of a company doing this.
    Warning...READ THE FIND PRINT! Do not trust Ally...they are in now way your ally.

    Never again!

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  • D
    Reviewed By Don Sep 7, 2012

    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

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  • B
    Reviewed By bankaman60 Jan 17, 2015

    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.

    Thank you for your feedback Is this review helpful?

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  • Type Fee National Average
  • Monthly Inactivity N/A
  • Non-Sufficient Fund (Overdraft) N/A 0
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