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.
1.70% 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 in a month.

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Overall

4.5

Ally Bank is a popular online bank 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 July 23, 2019

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
1.70%
Min. balance for APY
$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
Fair
Rates
Fair
Fees
Fair
Buyer beware
My auto lease was financed through Ally Financial. I have had the absolute worst experience with Ally and would not recommend to my worst enemy. Issues include: incorrectly posting payoff, numerous calls to customer service to remedy a situation and being mistreated and little to no resolution (called no less than 15 times). I was told multiple different fact patterns and it took over 45 days for them to find the payments sent by the dealer and post them to my account. Had I not been keeping track of this information and diligently following up, despite being told that Ally was handling it, there would have been no resolution to the situation. I will never do business with Ally again. Terrible customer service, some of the worst I've ever experienced.
Overall
Customer service
Poor
Website / app
Excellent
Rates
Fair
Fees
Low
Interest Rates Aren't All That's Going Down
I have been banking, on and off, with Ally for well over 10 years. My interest rate is going down for the second time in a few weeks, AND their Customer Service has been going downhill for a few years, screwing up check orders, not once, not twice, but 3 to 4 times.
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