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
Poor
Rates
Poor
Fees
High
Awful Experience
Bank requires you to keep a separate ledger outside of app or online view! They use all 3rd party apps to transfer money and can’t provide an accounting of debits and credits. Unbelievable. And I’ve tried to transfer funds to Chase account 3x and due to errors at 3rd party side of the transfer I’ve not been able pay Chase for 2 weeks. And hold times I’m phone average 35 minutes. I’m serious here. Go elsewhere!
Overall
Customer service
Fair
Website / app
Fair
Rates
Excellent
Fees
Low
Decent overall
Good savings rates. The website makes it easy to move money between your Ally accounts and accounts at other banks. Website itself is moderately clunky but includes good functionality. For instance, you can schedule recurring Zelle payments which is not possible at Wells Fargo (or at least I couldn't figure it out.) Solid choice if you are looking for a bank that has all the usual banking functions, paying good interest on savings, if you, like me, can no longer stomach the misdeeds of Wells Fargo and are looking to change, and are ok with an internet-only bank.
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