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.
1.70% 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 in a month.

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Overall

4.5

Ally Bank is a popular online bank 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 July 23, 2019

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
1.70%
Min. balance for APY
$0

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
Poor
Website / app
Fair
Rates
Fair
Fees
Fair
Awful Customer Service
Poorly run policies in place and customer service does not know any of them. To create an account your application will expire, despite constant interaction. They require different forms of documentation. Everytime we sent in one they had an excuse why they could not access or accept it. They told us not to bank with them and expired our application.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Dropping rates
I opened a savings account with Ally because I previously had a car loan with them, and they advertised a 2.0% interest rate. Well, it's 3 months later, and they have dropped the interest rate 3 times already. I will be looking for a new depository.
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