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.

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

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
Rip off
Using their mobile app shows no activity on your account. I got a letter saying they were giving my money to the state. Closed accounts immediately
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Beware! Fraud
This is not an American company. They do not know the laws and violate them all the time. There are 2 of us on the account and the account is paid to date yet they keep calling me saying the account is past due. I called to pay off the loan. They will not give a pay off amount minus future interest nor the interest rate on the loan nor the monthly amount of principle and interest. Its not that much money & they are completely fraudulent trying to get more than is required to be paid.
Some of the reviews on the NerdWallet site were purchased through a third party provider. Users who post a review directly on the NerdWallet site will not be compensated in any way. Please see our Terms of Use and Posting Guidelines for more information.