Pros

No monthly maintenance fees or minimum balances
Access to over 43,000 free ATMs
1.20% APY on savings (as of 9/1/2017), 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

Overall

4.5

Ally Bank has become popular among people seeking strong rates and helpful tools. An online-only operation, it doesn’t have to put money into branches and so can offer better rates and fees and invest more in its products.

Ratings methodology | Updated May 12, 2017

Checking

4.5

Ally offers an interest-bearing checking account with good rates, low fees and easy ATM access. Although there is only one account, deposits under $15,000 earn an annual percentage yield of 0.10%, while larger balances earn 0.60%.

Interest Checking Account
0.10%
APY
$0
Monthly fee
None
Balance to waive monthly fee
Learn moreat Ally Bank
High Yield CD
2.25%
APY
$1
Min. balance for APY
5 years
Length of term
Learn moreat Ally Bank
Online Savings Account
1.20%
APY
$1
Min. balance for APY
Learn moreat Ally Bank
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Overall
Customer service
Excellent
Website / app
Excellent
Rates
Excellent
Fees
Low
Best Rates & Service
Consistently best rates, not just promotional rates. Great service that gives peace of mind.
Overall
Customer service
Excellent
Website / app
Excellent
Rates
Excellent
Fees
Low
Kind of a no brainer
Only real dislike is depositing cash is a pain. If you don't deal a lot with cash in your life, then this bank is great, easy to deposit checks and do direct deposit, ATM fee reimbursement, great rates on savings and CDs. Really like them.
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