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Ally Bank Customer Review

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bturner123's Profile Image

2 out of 5 marks

Reviewed by bturner123

Jul 13th 2012

Ally Seemingly Unable To Calculate & Itemize Cd Interest Earnings Correctly

Had a pair of concurrent two-year raise-your-rate cd's at the same apy on which ally was calculating different daily interest earnings. In attempting to sort this out, was given the runaround, including by level 2 cs, told not to worry about the "robo-figures" shown on the summary pages, and assured that my total earned interest at maturity would be calculated correctly.

Now that these cd's have both matured, at my instruction i had the final balances with interest deposited into an existing money market account. At this point, neither the cd summary pages nor the one for the money market itemize how much interest i earned in total from the cd's over the two years. Nor do the paper statements i received at cd maturity show anything about total earned interest. I'm left to run the numbers myself, spotty as they are, try to sort out any errors, and in the meantime have requested that ally mail me another paper statement explicitly listing total earned interest.

Cs agreed to do this only after multiple phone calls and a fair bit of obvious disgust and annoyance in the voice of the most recent cd rep. Incredible. We're talking about several thousand dollars worth of earned interest on these two cd's, and ally apparently doesn't think it important to break out total earned interest on the accounts. What are they trying to hide? If we, the customer, didn't care about interest we'd just put our money under the mattress where we can keep an eye on it at all times. Buyer beware - ally makes a guessing game out of something that should be entirely cut and dry - nay, something they should be heralding in neon lights at every turn - our earnings.

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Other Ally Bank 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.

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ConsumerReview's Profile Image

Reviewed by ConsumerReview

Mar 14th 2015

1 out of 5 marks

VeryDisappointed

Nothing but problems from day one. I should have known better when Ally screwed up the opening of my account by losing half my paperwork. I figured it was just an honest mistake. Well it's been nothing but problems and I haven't even had the account for a year. I used the smartphone app to deposit a check a few months ago. It was a little more than six months old. No good. Ally said they can't deposit checks over 6 months. Fine. Now I try to deposit a check from my sister. She didn't date the check. I deposit it and get an email a day later saying it was refused BUT it doesn't say it was because it was missing the date. So, I call Ally and ask the rep, if my check is missing the date, will it be rejected? He said no, it should not be a problem. So, I deposit it again using the app and again I get an email saying your check has been rejected because traveler checks, money orders and postal money orders have to be mailed in. Did I mention that this is a personal check from my sister for $30? So, I call up Ally, explain my story to the rep. and she's very sympathetic, but can't help me. I get transferred to Antonio in Tech support. He confirms:

1. The check was rejected because it had no date

2. Mailing it in to Ally wouldn't make a difference

3. The rejection email is very generic (no kidding!)

I've had more frustration with this Ally account in 10 months than I've had in 30 years of having a bank account.

Now back to my local bank where I get a few pennies less in interest but they do deposit my checks.

I closed my account. It's clear to me that wanting to be a great bank and being a great bank are not the same.

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