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.
Ally is the first bank in over 20 years that has far exceeded my expectations. Their rates are higher. Their customer service is far better than most banks. You can always get a live voice or online chat when you need it. Staff is always friendly. Your problems are resolved. You get reimbursements for ATM fees. Their online services are easy to use. Their overdraft fees are far lower than ANY other bank that I know of. And they have very flexible options for CDs and money markets. The list goes on and on. I would recommend Ally versus any other bank that I have used.
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?
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.