at Ally Bank,

Member, FDIC

Pros

No monthly maintenance fees or minimum balances
Access to over 43,000 free ATMs via checking or money market accounts
2.10% APY on savings, among the best you'll find

Cons

No way to deposit cash
For its savings account, Ally charges $10 for every outbound transfer after the sixth one

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Overall

4.5

An online-only bank, Ally Bank has become popular among people seeking strong rates and robust customer service. Because it doesn’t have to put money into physical branches, Ally is able to offer better rates and fees than brick-and-mortar institutions and can invest more in its products.

 

Ratings methodology | Updated Oct. 9, 2018

Checking

4.5

Ally offers an interest-bearing checking account with good rates, low fees and free access to over 43,000 ATMs nationwide. Ally will also reimburse you up to $10 per statement cycle for any fees you’re charged using an out-of-network ATM in the U.S. Although there is only one checking account to choose from, its rates are competitive, starting at 0.10% APY.

 

Note that Ally doesn't accept cash deposits. Your options include mobile check deposit, setting up direct deposit, setting up a wire transfer or sending a check by mail.

Online Savings Account
APY
2.10%
Min. balance for APY
$1

at Ally Bank,

Member, FDIC

NerdWallet reviews are the result of independent research by our editorial team while accountholder reviews are contributions from independent users not affiliated with NerdWallet. Banks, issuers and credit card companies are not responsible for any content posted on the NerdWallet site, nor do they endorse or guarantee any posted comments or reviews.
Overall
Customer service
Good
Website / app
Excellent
Rates
Poor
Fees
Low
great on-line service
On-line banking with Ally - they pay over 2% on savings, their customer service is almost always polite and helpful - they need a new jingle though. - that is the only negative.
Overall
Customer service
Poor
Website / app
Fair
Rates
Poor
Fees
Low
They stole $1393.65 from me!!!
I created two online CD's totaling 125k on June 3rd. I started the transfers on the 9th day and on the 10th day the money was pulled and removed from my external accounts. On the 11th day they dropped their CD rates. I called three times and was told they would honor the original 2.85 APY on the CD's. Three business days later (5 days) the money showed up in the CD's at the new lower rate!!! I called several times trying to get them to honor the original rate and was told no by two supervisors. They stated it would take up to five business days to investigate but I would have to wait. Since interest rates were dropping fast I told them I needed my money back. They changed me $1393.65 for an early withdraw penalty on the day the money showed up in the accounts!!! Something has happened to Ally Bank. They used to be a good bank but not anymore. They are crooks!
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