at Ally Bank,

Member, FDIC

Pros

No monthly maintenance fees or minimum balances
Access to over 43,000 free ATMs
1.60% 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%.

Online Savings Account
APY
1.60%
Min. balance for APY
$1

at Ally Bank,

Member, FDIC

High Yield CD
APY
2.60%
Min. balance for APY
$25,000
Length of term
5 years

at Ally Bank,

Member, FDIC

Interest Checking Account
APY
0.10%
Monthly fee
$0
Balance to waive monthly fee
$0

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
Customer lack of service
I paid off a car due to a sale and was lied too several times that I would get the title release in 3-5 days. 14 business days later I get a refund check for overpayment and still no title release. Do not get a load with Ally bank. The only bank I know that works like the dark ages. I asked to speak to a manager and was told one was not available, but one would call me back within 48 hours. Another lie and broken promise. Very sad.
Overall
Customer service
Poor
Website / app
Fair
Rates
Poor
Fees
High
Payments and plans are not documented well-no one is kept abreast of arranged payment plans-u speak to to many people versus one person
-if bank is not in area payments are very difficult to make -records at not documented well one hand doesn't know what the other has done -hours open are good by phone -poor customer service -hard to deal with (unfriendly service) -poor follow up with customers
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