Pros

No monthly maintenance fees or minimum balances
Access to over 43,000 free ATMs
1.45% 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

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 Nov. 29, 2017

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 — deposits under $15,000 earn an annual percentage yield of 0.10%, while larger balances earn 0.60%.

Interest Checking Account
$0
Monthly fee
None
Balance to waive monthly fee
Learn moreat Ally Bank
High Yield CD
2.50%
APY
$25,000
Min. balance for APY
5 years
Length of term
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
Excellent
Website / app
Excellent
Rates
Excellent
Fees
Low
CD set up was good
I admit I was hesitant to set up a CD after reading all the negative reviews but it could not have gone any smoother. Got right through on the phone line and talked to an American born English speaker and he go all the answers right. Took two business days to ACH the money to Ally and the rate was as advertised.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Don't get a loan with them
I had 2 car loans through them. After my divorce it was court ordered that my ex wife was soley responsible for her car. She defaulted the contacted me. My lawyer and I sent the court orders stating it was her responsible. They continued to harass me over it. Calls come from India so you can't understand customer service. Previous I had a car loan from them. The car was destroyed in an accident that I was not at fault. Insurance covered the loan and so did my GAP insurance. They continued to after it was paid off to send me bills claiming it was fees owed. When called to ask what the fees were for they couldn't tell me. I would not use or have anything to do with this bank.
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