I authorized a $25,000 withdraw from my checking account to fund a new Ally CD. Ally did the withdraw...TWICE. There is $50,000 gone from my checking account without my authority. When I called them, they said "oops"; we will refund the money in 48 hours. 48 hours later, no money. When I spoke to customer service they said it would take 4-5 more business days to return the $25,000 to my account. This is CRIMINAL. Do NOT link your checking account to your ALLY account. In fact....STAY CLEAR of this bank. They are thieves. I just hope they return my money. I will update when I see the money in my account.
Update...more than a week later, still no money in my account. So I went to my local bank and had them do a transfer back into my local checking account from Ally Bank using a "Written Statement of Unauthorized Debit" form. This form also severed ties with Ally and my local checking account. They are thieves, I repeat, STAY CLEAR of this bank.
Very pleased with Ally Bank. It was super simple to set-up a money market account and an interest-bearing checking account, plus I was pleasantly surprised to find out they supply unlimited checks for free.
Now for the clincher! They offer free "bill pay" and they covered my butt when I made a mistake on my first trial run. I accidentally processed more bills than my account balance and they covered the deficit with no "bounced check" fees or penalties. I got a nice email to let me know about this "one-time courtesy" for new users. Thanks Ally!
Note: For those of you using online banking for the 1st time, be aware that a money transfer to Ally Bank from your physical bank is not instantaneous. It takes about 4-5 days. Big "duh" on my part, but now that I know this, I transfer money a week before I activate my monthly payments.
Recently they have started asking strange questions like which street is closest to you, who among the persons listed below do you know, and so on. These are totally ridiculous and irrelevant questions and why can't they keep the validation to the relevant information in their systems? How would one know every street in the metropolis? ( i googled those streets and some of them are 40 miles away). How do you know if i know the person or not and if you do why are you preying on my privacy. Who gave you authority and access to do searches on me? I am very frustrated customer and very annoyed with ally bank! This is totally unacceptable and needs to stop.