Advertiser Disclosure

Pros

No monthly maintenance fees or minimum balances.
Access to over 43,000 free ATMs.
1% APY on savings, about the best you'll find.

Cons

No way to deposit cash.
Ally's $10 charge for every outbound transfer (excluding checks) after six is a bit more than that at many online banks.

Overall

4.5

Ally Bank has become popular among people seeking strong rates, innovative tools and top-notch customer service. 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 | Reviewed Oct. 12, 2016

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 APY 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
Online Savings Account
1.00%
APY
$1
Min. balance for APY
Learn moreat Ally Bank
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
Excellent
Fees
High
clunky app and website
I recently took my money out because the generous interest rate for my small, liquid savings doesn't outweigh the bad user experience.
Overall
Customer service
Excellent
Website / app
Excellent
Rates
Excellent
Fees
Fair
Good secondary account
I was looking for a bank with good savings rates since my local institution wasn't cutting it. Eventually I landed on Ally and their rates. I decided to also open a checking account with them as well for quick access in case of an emergency. Haven't had to use their customer service yet which is good as I've never had a problem with them as is yet. The mobile app and website are super easy to use and navigate. I'd make them my main Bank but I prefer to have a brick and mortar place to go to for certain needs.
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