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
2.20% 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
2.20%
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
Excellent
Fees
Low
great savings account
I highly recommend banking with Ally - the savings account apy is one of the best, and because they are only online, they have the best online/mobile experience of just about any bank I've used. The only annoying part was having to call to set up a checking account - I couldn't just do that online - but overall it was pretty seamless. If you get a lot of cash you need to deposit, maybe consider an additional checking account, but if not, this is a fantastic option. I appreciate being able to use any ATM and using mobile deposit for larger checks.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Horrible service
Even trying to submit a complaint is a pain in the tush. Their representatives and staff are incompetent. You can't submit this without hooking to another account or it must go anonymously. This is DUMB
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