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
Poor
Website / app
Poor
Rates
Poor
Fees
High
Payments
They have the worst service ever! I’ve had my car a year and I’ve paid over $3,000 on it. They tell me that I can rewrite my loan to lower my payments. Then I get a call saying that I don’t qualify because I haven’t paid in enough. They are a bunch of liars! They don’t work with ppl who are having financial trouble
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Absolutely the worst financial service provider ever - do not use this company
Worst, lying sack of crap company ever. I cosigned on a vehicle for my daughter, they processed the note and sent me the payment information and put the car in my name. I called them immediately and advised them that this was incorrect. I was not the buyer, my daughter was. Told them that I needed this changed. They did not change anything and my daughter continued to make payments. I called to have my name removed from the lease, which I was told I could do at anytime when discussing this error. I'm now being told that I have to pay a $600 processing fee to take my name off of the note. I asked them to waive this since they made the mistake. I was told no, it's non-negotiable. I went through 3 layers of incompetent customer service people. Every time I asked for a supervisor. they actually transferred me to a department that takes calls from customers who ask to speak to a supervisor, but they are not supervisors with any decision making authority. Their customer service department even had the audacity to tell me this little secret before they transferred me. Then I asked to be transferred to a manager that could waive the fee. I waited nearly 20 minutes and then spoke to a woman that told me repeatedly that she had no authority to waive the fee. I asked for a manager that could and she said there wasn't anyone else. After almost an hour of asking questions and getting responses from their customer conflict resolution flow chart, I asked "who" actually implements the fee? My useless "manager" said Ally charges the fee. I said, so Ally can waive the fee correct? No sir, it's non-negotiable we can't waive the fee. But Ms. Useless Manager, you screwed this up, I'm not the primary borrower, so you CAN waive the fee. No sir we can't, I said, you mean you won't... I tried to get this fixed from day one, they refuse and now want me to pay them to take my name off the note. They offered to re-finance the note, change the fianance rate, charge me more fee's to re-finance. I couldn't believe what she was telling me. Customer Service?!? Not even close. Apparently company policy is more important than retaining customers. I will have to purchase/lease 2 more vehicles this year. It won't be with Ally. Don't work with this company they are absolutely the worst. By the way, this is the 2nd time I've had the unfortunate luck of working with them and yes, the mistake wasn't theirs of course, it was the dealership's fault...in other words mine!
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