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
2.20% 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

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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 Oct. 9, 2018

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
2.20%
Min. balance for APY
$1

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
some Ally
Buying a car can be aggravating experience by itself no need for third party to make it even more stressful. Ally bank does not think so. It is my bank, online only but they will make money order as a normal bank would and mail it as a free service. I decided to make use of that service I even took expedited overnight service. So it arrived two days late. My mistake for not checking it before mailing it to a dealer in Texas, I was in a hurry. To make story shorter below is a picture of the check with innovative way of writing innovative. Needless to say they could not cash it. So I am calling my bank and they are very sorry and apologetic. They waiving expedited costs and at no charge sanding overnight delivery with a replacement check. It arrives two days latter and all appears to be good but... Two weeks latter I noticed that my account balance is to low to pay off my monthly bills. One glance and is clear that they made another mistake, instead of using a check tracking number that allows canceling off old one they made new one from my remaining money and old one is in a check limbo. They cannot fix it because department responsible is already closed but they are still apologetic. Next day my time on call waiting hits 5 hours they not apologetic anymore they are demanding. I should fix their mistakes, ask my dealer in Texas to mail me check back then I have to send it to them. So I answer that the only reason they would hold this check for three weeks would be if they realize comic value of it, frame it and lough at it at the times when knowledge that there is someone more stupid out there is needed. If its lost you must make them create notarial forms of loosing this check and send it back to them.. So I answered that check was never lost, it was misspelled and abandoned by Allay bank somewhere in a check limbo. And that they are making me extort false documents about “lost check” from a dealer so they can satisfy some kind of bureaucratic needs at my and car dealer cost. So I ask for higher management. They will call you within two days. Three days since that was said. There is no check limbo of course they have that money and make profit of it while I pay minimum payments on my credit cards. My bee they think that I did not spend enough time on waiting line? Well I decided to spend my time more creative. Case 21221693, 21398786. no pictures here oh well according to ally you spell innovative like that “INNOWVEATIE”
Overall
Customer service
Poor
Website / app
Good
Rates
Excellent
Fees
Low
Bank? Yes! Invest? NO
You still need a small local bank linked to Ally for day to day functions like cash deposits and sizable withdrawals. The same holds true for Capital One banking. Banking with Ally is definitely DIY. Their rates are very good. Customer service is awful. I usually understand the website better than their service people. As for Ally Invest? No way, just No way. With Investments, customer service is critical and they are just "lost in space"
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