I have descended into a black hole of chaos. Never use this bank. Tried to open up an IRA because the interest rates were the best. Two full weeks of multiple conversations with supervisors who promised a return call within 24 hours 'without fail'. Never a call back. Finally, after two weeks, the long-awaited return call with message: "Please call back ASAP. Everything resolved." We call back the next day, and the same story: spoke to a manager who had no information, couldn't tell us anything, and promised a call back in 24-48 hours. Over two weeks of this nonsense. Called the CEO of ALLY bank, Barbara Yastine (646)781-2521. She is out of town, her assistant is out of the office, and the assistant's assistant who answered the phone knows nothing and promises a call back. All of this to open an IRA. Imagine trying to get my money out!
I am a Dutch employee here in the USA during an Expat contract and have a LIB Visa; this visa allows me to work in the USA for the company I was send over as an Expat and gave me the formal paperwork that allowed me to apply for a US SSN number and to open an US bank account.
Ally bank has in his policies that only permanent residents are allowed to open a bank account with them while it is totally legal for people with an L1B visa to do so (like UMPQUA bank will do).
Therefore I would not recommend to open an account with them since they are not aware of the global changes of doing business international.
Dear Mr.Michael A. Carpenter (CEO)
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!