Advertiser Disclosure

Pros

No monthly maintenance fees or minimum balances
Access to over 43,000 free ATMs
1.15% APY on savings (as of 6/30/2017), about 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
1.15%
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
Poor
Rates
Poor
Fees
High
One time Customer. No more
Very bad customer service. On the phone for 25 minutes and then They don't pick up the phone leave a message after the tone. What a disappointment
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
If you want to know a company, look at how they treat the little guy...
Absolute worst experience and treatment of customers. I used to be a large investor through Ally - until I got a glimpse of the other side of the line. I attempted to assist an associate after she was referred to their Bankruptcy department; I was absolutely horrified at how they dealt with customers that they felt owed them money. Total lack of transparency. Every representative says a different thing. Lack of consistency. Hidden fees and costs; extremely shady in the way that they do business. Very much a "pay the payoff amount now, and we will tell you the process to re-obtain your asset and all additional fees later" -Even after they've already written off the loss. Representatives are extremely impatient, uninformed, and forward you to the numbers that are disconnected (4 times in a row). They interrupt, harass, yell and degrade. I will never do business with a bank that only treats the 'right' customers with common decency and human-to-human respect. You have lost me as an investor.
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