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Ally Bank, founded in 2001, is a younger bank that branches off from the traditional banking model. It offers online only accounts and it is currently headquartered in Detroit, Michigan.
Based on MyBankTracker’s Bank Report Card, Ally scores 4 stars out of 5, with good bank financial health, bank fees, and mobile bank services.
It currently has 3 out of 5 marks for service. Many users complain about the bank’s website, including Weston1999, who wrote:
The web of Ally Bank is not user-friendly. When I opened the account, there was no easy link to verify the external account to fund the initial deposit.
Others applaud Ally for their great rates, as DuHatsin noted:
I’ve been used them for a year now and they successfully accept my money from my chase account and return it when my CDs are complete (and I ask for it of course).
No idea about the rest of their business, but if you are just looking for no frills CDs with the best rates these guys do nicely.
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(Reviews have been edited for clarity.)
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