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
2.10% 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
2.10%
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
Excellent
Website / app
Excellent
Rates
Excellent
Fees
Low
Great bank
Have had nothing but good experience with Ally. Rates are very competitive and have nothing negative to say.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Poor Customer Support
First -hold time estimates are way off. After being told it would be 10-15 min wait 3 times I finally got a rep. I was trying to reset my debit card pin since you cannot do this online or via the app. I provided personal identifiable information and answered all security questions. Then she asked for a phone number to send a text code- I gave my husbands number who is on the joint account. Somehow his number was not able to receive the reset pin per the rep, and our account was locked. I was advised it would be 1-2 days before someone would call. Now we are on vacation with a locked account and debit card. I asked for this to be escalated and got a somber response that we have to wait until someone calls back. There was no escalation process to try to get the account unlocked. There was no clear explanation from support that the account would be locked. I understand security; however it should not inconvenience the customer. Very frustrating experience.
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