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.
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!
I have banked with so many banks both online and via mobile. I've practically tried them all! Ally's mobile banking is not only easy, all the features are awesome! Their mobile banking features and the way it was put together beats Citibank, Chase, TD Bank, HSBC, Bank of America and so many others. Great Job, Ally!
I don't understand all the hate against Ally Bank in previous reviews. I have had a checking account with Ally since 2011, after my local bank screwed me on overdraft fees, and have been very satisfied since. Signing up is painless, much less than what I have experienced at other online-only banks, and their website is very easy to use. In 2012 all of my debit card transactions were suddenly being declined and upon calling Ally it turned out my card number had been stolen so they froze my debit card. I wish they had notified me, but getting a new card was easy and I was not responsible for the fraudulent charge. I have only incurred one overdraft fee of $9 since banking with Ally and it was due to my own negligence. If you're tired of old-fashioned banking and their fees I highly recommend Ally Bank.