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
FILING LAWSUIT
This company is the absolute worst! I may lose my home, because of their error in updating a credit reporting error for almost 6 months now. I have been told repeatedly that they will correct it and been made to refile reviews. I have provided the documentation that I was a victim of fraud. I have lost equity in my home, spent almost 40 plus hours on phone calls, not to mention the stress!! ALL for no action. If I lose my home because of this I will seek legal action.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
borderline criminal
wanted to transfer money(wednesday morning) to my other bank for a real estate transaction. had the ach confirmed and credit at my other bank was assured by this friday. i asked several times on a recorded line that i need the funds by friday. everytime the csr said yes it will be there 1000% today i receive a very rude call that they are not able to do the transfer in the timeframe. i waited for the supervisor who was even more rude. i then called their exec office and we found a halfways acceptable solution. the whole process took 2 hours and i closed all accounts for friday.
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