Average User Rating:Based on 25 user reviews.
Ally Bank
| 6985 Union Park Center Suite 435 Midvale, UT 84047 877-247-ALLY (2559) Open a Savings Account Open a CD  |
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Ally Bank was formerly known as GMAC Bank prior to changing it's name in May of 2009. Even though the bail out of GMAC Financial Services following the 2008 financial crisis caused some public relations and regulatory problems for Ally, the bank has remained competitive.
Ally Bank is known for its competitive interest yields and its friend customer service, available 24/7. Additionally, the accounts at Ally are notable for their lack of fees and minimum balance requirements. One of the more interesting and unique products offered by Ally Bank is the no-penalty 11-month CD. You can withdraw early from this CD with no penalty. Ally has also recently rolled out a program to allow scanning of checks from home for remote deposit.
Ally Bank is known for its competitive interest yields and its friend customer service, available 24/7. Additionally, the accounts at Ally are notable for their lack of fees and minimum balance requirements. One of the more interesting and unique products offered by Ally Bank is the no-penalty 11-month CD. You can withdraw early from this CD with no penalty. Ally has also recently rolled out a program to allow scanning of checks from home for remote deposit.
Ally Bank Commercials
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2011
- 12/8 - Unlimited ATM Fee Rebates Even In Casinos (Forum)
- 12/6 - Comparing the Best CD Rates After Early Withdrawal Penalties
- 11/21 - 4 Internet Banks That Offer Flexible CDs
- 11/4 - Ally Bank's Suitcase Of Money Commercial (Forum)
- 11/4 - Oddity With Ally Bank's CD And Savings Account Rates (Forum)
- 10/25 - Ally Bank's eCheck Deposit is Now Available to All Customers
- 10/24 - Echecks For Ally Bank (Forum)
- 10/21 - Ally's eCheck Deposit Is Now Open To All (Forum)
- 10/19 - Ally Bank Cut Rates Again (Forum)
- 10/12 - Methods to Make Deposits to Your Internet Bank Accounts
- 10/11 - Leaving Your Big Bank and Choosing an Internet Checking Account
- 10/6 - Comparing the Best Long-Term CD Rates After Early Withdrawal Penalties
- 9/15 - Best Long-Term CD Rates After Early Withdrawal Penalties
- 9/8 - Comparing Rates of Long-Term CDs After Early Withdrawal Penalties
- 9/7 - Ally Announces Plans For Mobile Banking (Forum)
- 9/4 - Make Long Term CD Yields Table A Permanent Feature? (Forum)
- 9/4 - Ally Bank 5-Year CD Rate Continues To Fall (Forum)
- 8/25 - Ally Rates Down (Forum)
- 8/23 - Long-Term CD Strategy Review with an Updated Comparison of Ally & Discover Bank
- 8/18 - How Long Will The Ally Bank Site Be Down? (Forum)
- 8/16 - Some Important Ally Bank CD Details
- 8/10 - Updated Comparison of Ally and iGObanking Long-Term CDs
- 8/8 - Ally Bank Cut Rates Again (Forum)
- 8/4 - Ally 5 Year CD Rate Decrease Tomorrow (Forum)
- 7/27 - Rates and Early Withdrawal Penalties of the Best Long-Term CDs
- 7/22 - Update on Ally's Bank-to-Bank Transfers
- 7/21 - Ally Bank Wants To Poach ING Direct Customers (Forum)
- 7/20 - New Bank or Just a Name Change? Aurora, Ally, OneWest & Alostar
- 7/11 - The Lure of the Long-Term CD Rates - iGObanking vs Ally Bank
- 6/27 - Comparing CDs from Ally and Discover Bank
- 6/24 - Ally Bank's New Debit Card Cash Back Program: Ally Perks
- 6/23 - Ally Bank's Popmoney - New Service for Person-to-Person Transfers
- 6/21 - Ally Bank's New Raise Your Rate CD - Better Than the 5-Year CD?
- 6/21 - Ally Bank Races Ahead With IRAs, Ally Perks, eCheck Deposit (Forum)
- 6/20 - Ally Bank's New IRA CDs and IRA Savings Account
- 6/19 - Ally Bank Launches Several New Accounts and Services
- 6/17 - Ally Bank Launches Ally Perks Debit Card Rewards Program (Forum)
- 6/10 - Review of Ally Bank's eCheck Deposit
- 6/10 - Rate Jump At Ally Bank On Online Savings And Money Market Accounts. 1.00% to 1.04% APY :) (Forum)
- 6/9 - Ally 5 Year CD Rate Change Alert (Forum)
- 6/7 - Comparing CDs Based on Rates and Early Withdrawal Penalties
- 5/7 - Ally Drops Rate On "No Penalty" CD Once Again (Forum)
- 4/14 - Ally Bank Starts Roll Out of eCheck Deposit for Scanning Checks at Home
- 3/31 - Ally Files With The SEC For An IPO Later This Year (Forum)
- 3/30 - Ally Bank and ING Direct Working on Remote Deposit Capture
- 3/21 - Money Market/On-Line Savings Rate Down (Forum)
See Rates for: Checking | Savings | Money Market | CD | IRA
Ally Bank Checking Account Rates
Ally Bank's Interest Checking account has no minimum balance requirement and no monthly service charges. It's a tiered rate account with the highest interest paid on balances of at least $15,000. Notable features include free checks with unlimited check writing and no ATM fees at any ATM. Ally will automatically refund ATM fees charged by other banks. Other features include free online bill pay and free debit card. Deposits and withdrawals can be made via Ally's online funds transfer service which provides for fast ACH transfers to and from your other banks. The online funds transfer service allows you to link to an unlimited number of external bank accounts.
| Apy | Min | Max | Product | |
| 0.75% | $15k | - | Interest Checking Account | |
| Start Saving | ||||
Ally Bank Savings Account Rates
Ally Bank's online savings account has no minimum balance requirement and no monthly service charges. Withdrawals are limited to six per month which is based on federal regulations. Deposits and withdrawals can be made via Ally's online funds transfer service which provides for fast ACH transfers to and from your other banks. The online funds transfer service allows you to link to an unlimited number of external bank accounts.
| Apy | Min | Max | Product | |
| 0.84% | - | - | Online Savings Account | |
| Start Saving | ||||
| 0.84% | - | - | IRA Online Savings | |
| 0.84% | - | - | Roth IRA Online Savings | |
| 0.84% | - | - | SEP IRA Online Savings | |
| Start Saving | ||||
Ally Bank Money Market Rates
Ally Bank's Money Market account has no minimum balance requirement and no monthly service charges. Notable features include checking writing (first 50 checks are free) and check card. Withdrawals are limited to six per month which is based on federal regulations. Deposits and withdrawals can be made via Ally's online funds transfer service which provides for fast ACH transfers to and from your other banks. The online funds transfer service allows you to link to an unlimited number of external bank accounts.
| Apy | Min | Max | Product | |
| 0.84% | - | - | Money Market Account | |
| Start Saving | ||||
Ally Bank CD Rates
Ally Bank's certificates of deposit have three variations. The first is the traditional type of CD with a fixed interest rate until maturity. Terms from 3 months to 5 years are available. The second type is a no-penalty 9-month CD. You are allowed a penalty-free early withdrawal any time during the term after 6 days from when the CD is funded. The third type is a bump-up CD called Raise Your Rate CD. It's a 2-year fixed rate CD that gives you the option to raise the rate one time during the term to the current 2-year CD rate. All CDs have no minimum balance requirement. Early withdrawal penalty for all CDs (except the no-penalty CD) is 60 days of interest. The grace period at maturity when you can close the CD without penalty is 10 days after the maturity date. With Ally's Ten Day Best Rate Guarantee, when you fund your CD within ten days of opening or when your Ally CD renews, you automatically get the best rate Ally offers during those ten days.
| Apy | Min | Max | Product | |
| 1.76% | - | - | High Yield 5 Year CD | |
| Start Saving | ||||
| 1.54% | - | - | Raise Your Rate 4-Year CD | |
| 1.39% | - | - | High Yield 3 Year CD | |
| Start Saving | ||||
| 1.15% | - | - | Raise Your Rate 2-Year CD | |
| Start Saving | ||||
| 1.00% | - | - | High Yield 12-Month CD | |
| Start Saving | ||||
| 1.00% | - | - | High Yield 18-Month CD | |
| Start Saving | ||||
| 0.91% | - | - | No Penalty 11-Month CD | |
| 0.74% | - | - | High Yield 6-Month CD | |
| Start Saving | ||||
| 0.74% | - | - | High Yield 9-Month CD | |
| Start Saving | ||||
| 0.39% | - | - | High Yield 3-Month CD | |
| Start Saving | ||||
Ally Bank IRA Rates
| Apy | Min | Max | Product | |
| 1.76% | - | - | IRA High Yield 5-Year CD | |
| Start Saving | ||||
| 1.76% | - | - | Roth IRA High Yield 5-Year CD | |
| Start Saving | ||||
| 1.76% | - | - | SEP IRA High Yield 5-Year CD | |
| Start Saving | ||||
| 1.54% | - | - | IRA Raise Your Rate 4-Year CD | |
| Start Saving | ||||
| 1.54% | - | - | Roth IRA Raise Your Rate 4-Year CD | |
| Start Saving | ||||
| 1.54% | - | - | SEP IRA Raise Your Rate 4-Year CD | |
| Start Saving | ||||
| 1.39% | - | - | IRA High Yield 3-Year CD | |
| Start Saving | ||||
| 1.39% | - | - | Roth IRA High Yield 3-Year CD | |
| Start Saving | ||||
| 1.39% | - | - | SEP IRA High Yield 3-Year CD | |
| Start Saving | ||||
| 1.15% | - | - | IRA Raise Your Rate 2-Year CD | |
| Start Saving | ||||
| 1.15% | - | - | Roth IRA Raise Your Rate 2-Year CD | |
| Start Saving | ||||
| 1.15% | - | - | SEP IRA Raise Your Rate 2-Year CD | |
| Start Saving | ||||
| 1.00% | - | - | IRA High Yield 12-Month CD | |
| Start Saving | ||||
| 1.00% | - | - | IRA High Yield 18-Month CD | |
| Start Saving | ||||
| 1.00% | - | - | Roth IRA High Yield 12-Month CD | |
| Start Saving | ||||
| 1.00% | - | - | Roth IRA High Yield 18-Month CD | |
| Start Saving | ||||
| 1.00% | - | - | SEP IRA High Yield 12-Month CD | |
| Start Saving | ||||
| 1.00% | - | - | SEP IRA High Yield 18-Month CD | |
| Start Saving | ||||
| 0.74% | - | - | IRA High Yield 6-Month CD | |
| Start Saving | ||||
| 0.74% | - | - | IRA High Yield 9-Month CD | |
| Start Saving | ||||
| 0.74% | - | - | Roth IRA High Yield 6-Month CD | |
| Start Saving | ||||
| 0.74% | - | - | Roth IRA High Yield 9-Month CD | |
| Start Saving | ||||
| 0.74% | - | - | SEP IRA High Yield 6-Month CD | |
| Start Saving | ||||
| 0.74% | - | - | SEP IRA High Yield 9-Month CD | |
| Start Saving | ||||
| 0.39% | - | - | IRA High Yield 3-Month CD | |
| Start Saving | ||||
| 0.39% | - | - | Roth IRA High Yield 3-Month CD | |
| Start Saving | ||||
| 0.39% | - | - | SEP IRA High Yield 3-Month CD | |
| Start Saving | ||||
Rates updated: 2/8/2012
Data for Q3 2011
Institution Statistics
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Institution Health
Overall Score:
5 out of 5 
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Ally Bank's New System For ACH Transfers - A Big Step Backwards!
- eric2 - Sunday, October 17, 2010 - 2:34 PMAlly Bank is now using the Cashedge system for ACH transfers instead of whatever system they were using before. The look and feel of the website is totally different; transfers take several additional clicks to accomplish, and everyone knows that Cashedge is notoriously slow.
I filled out the survey and told them I thought this was a major disappointment.
24
They Double Dipped
- dschwartz - Friday, December 24, 2010 - 12:35 AMWe opened an account with ally bank for a 5 year CD. They transferred the amount we wanted to fund the account with twice on the same day. We have called 5 times trying to get the second amount returned to us and each time they are very nice but the money has yet to be returned. It has been 13 days at this writing. We don't know what to do. So far we feel they are not to be trusted and we want to put the word out about it. When and if we get our money back we will amend this review.
22
I Agree Totally With #4
- Anonymous - Thursday, March 18, 2010 - 12:57 PMI agree totally with #4’s assessment of Ally. I’m extremely disappointed in their continual conflicting and erroneous information … their failure to carry out my written instructions … their slowness to respond until deadlines have passed -- mistakes which always help their bottom line and hurt mine. It’s happened so many times that it’s difficult to believe it is simply incompetence … rather than deliberate orchestration.
Here’s an example. Last summer I opened a number of accounts which I planned to fund by having my broker wire the money to Ally. One day around 2:30 I called Ally and asked for their wiring information … telling them my broker had a 3:00 deadline in order to get the money to Ally that day.
The rep advised me that I shouldn’t wire the money … that ACH transfers were faster … even though I had not set up any ACH links! It took me a while to convince her otherwise, and get her to agree to give me the wire instructions. I asked her to please hurry because of the 3:00 deadline. Again it took her quite a while; she put me on hold several times. I had a strong sense that something was “off” but assumed it was honest incompetence.
A few minutes before 3:00 she finally gave me the wire instructions. I rushed to my broker’s website but missed the deadline. No big deal, I thought … the money will be there tomorrow … what’s one day.
You’ve probably guessed the ending -- Ally had known they were making significant rate drops the next day for all of my accounts. The amount I invested was in the six figures … so the loss in earnings was significant. I’ve never been naïve about Ally’s seeming incompetence and slowness since.
I don’t phone them … I get everything in writing … I print all live chats before they disappear … I print all emails in my Ally mailbox lest they disappear. It’s slow and tedious -- and still full of errors. At this moment there are three “mistakes” I’m trying to iron out. Naturally I’m considering leaving.
Ally is the LEAST “straightforward” bank I have dealt with in my very long life.
21
Sure Go Ahead Give Them Your Money...If You Dare
- ptidd - Friday, March 4, 2011 - 12:29 AMI was convinced by customer service to let Ally Bank transfer $25,000 out of my local bank account to open up a new CD as they said this would be the easiest and fastest way to fund my new account. Surprise, surprise, they transferred it TWICE. $50,000 gone from my account instantly. When I called customer support they said "oops, our bad, we will reverse the mistake within 48 hours". Well, two weeks later, and no money had transferred back. Luckily I was able to talk to my local bank president and she transferred it back because it was an unauthorized transfer. I would not trust Ally Bank, ever.
18
Surprise Fee
- Joe_Customer - Tuesday, December 27, 2011 - 1:07 PMI've been with Ally for some time now, but I'm dropping them because 1, they decided to hold a deposit for an extended period without telling me; 2, bounced a check because of that; 3, charged me a fee; 4, refused to refund that fee. And get this: I had plenty of money in the account to cover the check even without that deposit!
This is on top of the many errors they have made over the last year (which all got corrected, eventually). I overlooked them, because I knew that Ally had just set up their web site and an entirely new system, and were still working out the bugs. But this is just too much. What good is a relatively high interest rate on deposits (still well below 1%) if they can steal an undeserved "fee" equal to six months interest any time they feel like it?
I've had it with Ally. I'm closing my accounts and won't be back.
12
HORRIBLE!!!!
- cb - Tuesday, July 27, 2010 - 3:23 PMAfter setting up an acct with ally, I then initiated a fund transfer to ally (using ally's online system). I called ally beforehand to make sure it would be ok since the 30 day time frame to deposit was approaching. I was ASSURED that as long as I initiated the transfer before 30 days, it was fine. I waited patiently for several days but received nothing from ally.. no e-mail, no phone call. I signed onto my ally acct. and now my balance showed a NEGATIVE dollar amount instead of zero. When I called them, they said my acct had been closed because I didn't deposit money in time! BUT.. they had taken my money from my other bank! Incredulously though, they said at the same time that since the acct. was closed that they DIDN'T really have my money! My "old" bank confirmed the monies had been sent to ally. MORE calls to ally.. they have NO idea where my money is or how to get it back! I go into my "old" bank and they actually spend a LOT of time helping me figure it out although they had NOTHING to do with the problem. With the information (ACH tracking numbers that ally wouldn't bother looking for) from my "old" bank, I call ally AGAIN ( I don't even know how many times I called ally). This time (after mentioning perhaps banking authorities might be notified) they miraculously are able to find the money! I am STILL waiting for the money to be returned to my "old" bank. Funny.. their claim to fame.. being an ultra modern, high-speed, web-based bank.. sure seems like BS when you consider it has been over TWO WEEKS and I STILL don't have my money back and they weren't able to find, track, or identify ANYTHING! I had to go into an old-school, brick and mortar bank and have a REAL PERSON help me! So, an online bank may give you a little interest and allow you to use ATMs nationwide, but JUST WAIT until something goes wrong! THEN you will wish you had a REAL PERSON to help you! The winner here is oddly enough.. BANK OF AMERICA (my "old" bank)! haha! Caveat Emptor!
12
Ally Bank CD Account Opening Review
- outtempster - Wednesday, June 16, 2010 - 4:35 PMThe good thing about Ally Bank CD is that it only has 60 day penalty if you withdraw the CD before the matural date. If you go with 5 year CD, the interest rate is now 2.95%.
The account opening process is very easy. You will receive a letter of confirmation about your CD term and rate. They should be able to reserve your rate for 10 days. Please pay attention and make sure it is the rate when you opened the account. The Ally Bank CD rate changed after I opened the account, I got the new rate instead of the one when I opened. I called the CSR and they were able to confirm my CD opening date and give me back the correct rate.
Even though there was a little hick up, the overall customer service is good. I called to open the CD, and called again about the wrong rate. They said they will investigate and they called me back after 2 days.
10
Watch Out! Double Check Their Math!
- lewis - Tuesday, May 3, 2011 - 12:50 PMI recently did an early closure of two CDs at Ally Bank. Before I closed them I was able to look at the accounts online and see how much I was supposed to receive for an early closure (principal plus interest minus penalty).
Much to my surprise, after I closed them I got a LOWER amount deposited into my checking account. It was about 1% off of where it should have been, which is actually less than the amount I had originally deposited in the CDs!! (They hadn't been open long)
I emailed them to complain and in a day or two they reversed that deposit and then deposited MORE money into my checking than I thought I was due. There was never any explanation given for how they came up with this amount, how they had come up with the previous amount, or how the error had happened in the first place. Nor did they apologize for screwing up.
I have used Ally for several years but this is the last straw. I just do not trust them anymore. I am closing all my accounts and moving to Alliant CU for my hub account.
9
Unreliable Website - Ally
- jeffmonahan - Saturday, September 3, 2011 - 10:28 AMI went into a local bank and opened up an account on 8/19/11. As of today I have cleared out all but $20 of a total of $55,000 between checking and savings.
Why? Because their website was down.
When I contacted Ally on 8/18 I was told they were having problems and could not estimate when the issues would be resolved. I told Ally this was unforgivable for Internet banking -- with no brick and mortar locations to visit to resolve any issues. They gave no apology and no estimated time when the problems would be resolved. Good bye Ally -- even with the higher interest rates--they need to realize that we need to take care of business.
8
.25% CD Bonus
- Sperry8 - Tuesday, February 1, 2011 - 10:50 AMI have a CD that is maturing in a few weeks and Ally sent me an email that stated I'd get a .25% bonus if I renewed it with them. Last year they offered the same .25% bonus but I was able to get .5% simply by asking for this on the phone. Has anyone else been able to get higher than .25% recently?
8
Rates Are Decent But Beware Of Their Poor Internal Accounting
- Matt - Thursday, November 17, 2011 - 11:06 AMI have 3 CDs and a savings account at Ally. I've had no issues with the CDs to date and was given a great rate with a low early withdrawal penalty should I one day need access to the funds. I also have a savings account with them that I used to like and use regularly, but currently I only have $1 sitting in it. The reason for that is that several months ago when randomly logging in to check my balance, low and behold, my account mysteriously was showing a NEGATIVE value of nearly $49,000! When I called Ally to figure out what was going on, the rep had no idea how a negative balance could even be possible (nor did I!). After much wrangling and cursing with a manager, a few days later Ally finally determined that they had made an internal error and had mistakenly deducted $50,000 from my account that should have been deducted from some other customer's account that had a similar account number. I respect the fact that Ally did ultimately resolve the issue properly and they did provide a written letter apologizing for the error. However, one would think their system would be properly designed to catch when a deduction is taking an account $49,000 into the HOLE. That I simply can't live with. I'm happy to let them keep my CDs since (I hope) they can't screw those up, but I have no desire to use the savings account anymore after such a debacle... trust is difficult to restore once broken.
7
What's With All The Negative Reviews?
- psm321 - Thursday, July 7, 2011 - 4:58 PMAlly is an excellent bank. I've been with them since they were GMAC Bank. Great service, knowledgable reps who are willing to actually talk to you instead of just following a script, 24/7 service, willing to reverse fees caused by customer mistake, good ACH functionality... what else could you want? Oh yeah, a better interest rate would be nice and to be honest I don't keep much money there because of the low rate. But the service is top-notch and I have occasionally kept money there longer than I normally would just to support them.
6
Seems Ally Bank Has Started Charging $10 As Per Description "FEE-ACHDW: Service Fees"
- lincolnpartners - Tuesday, October 5, 2010 - 8:36 AMSeems ally has started charging $10 as per description “FEE-ACHDW: Service Fees” if there are 6 or more transactions per statement cycle. You can call them on phone to have the charges reversed
FEE-ACHDW: Service Fees
$10.00
6
Don't Use Their Overdraft Protection!
- Pancho - Thursday, December 22, 2011 - 8:25 AMAlly has overdraft protection, which will automatically transfer funds from your savings to your checking. While it does protect against bouncing a check or having a transaction declined, Ally flags this as a negative mark on your account. This will lead to your deposits being held for "extended periods", sometimes up to 12 days! Also, they do NOT communicate this you, even though their Deposit Agreement says they will.
5
MY CHECKING ACCOUNT
- vcaster - Wednesday, August 3, 2011 - 11:00 AMI can't get to my checking account NOR anybody that will tell me why. All I am getting that I will be contacted within 48 hours. I have MONEY in that account.
WHAT's UP!!!!
4
Great Bank (3152)
- jshox - Thursday, December 2, 2010 - 9:22 PMThis bank is the best bank out there. They don't have any physical locations but other than that.. its great. The customer service is available 24/7 and their website is easy to navigate. They offer free accounts when every other bank is charing you fees or making you do certain things to keep the account free.
Everyone should look at their bank and the interest they are being paid. I know that ally has rates that went down over the past few months but so has every other bank. Can't blame them for a downed economy.
I've tried every product and i'm happy. the 11month no fee cd is great!
4
Overall A Great Bank
- dc2121 - Monday, November 8, 2010 - 3:25 PMI opened an account with Ally a few months ago and overall it has been great.
- Initially depositing money in my newly opened account took 2 tries, although Ally was undergoing maintenance during this period so I don't know if they are fully to blame
- Their phone and chat customer service has been very good all but one time and has helped solve all of my problems
- Their interest rates are great compared to my Bank of America account
- What I really love is their ATM fee reimbursement, which means that you can withdrawal money from any ATM and Ally will refund the service fee that you are charged. It really makes my life easier knowing I do not have to worry about going out of my way to find certain ATMs that won't charge me a fee.
4
Spotty Service. Nice, But Uninformed Customer Service Reps.
- john_menefee - Friday, October 29, 2010 - 5:16 PMI expect banks to have rock solid, secure service. Service with Ally has been spotty over the course of the 6 months I've had them. One recent example was a double transfer of funds that happened between my Chase account and Ally. I had initiated a transfer of $500. Ally inexplicably transferred an additional $500. I called and was told that the glitch was caused by the installation of new system software. It has taken a week to resolve. Much of it having to do with lack of communications between the people in the back-end operations and the customer service reps. (even supervisor level). I wish they would get their act together because I really like the concept of a virtual bank, and not being charged for ATM use.
4
Ally Bank Is My Primary Institution Because I Hate Fees
- newlisbonbarb - Sunday, July 11, 2010 - 6:15 PMI've been an Ally Bank money market checking/online savings/CD customer for a few years (longer than any other institution since rates have been declining). They have always been in the top 5% of those paying the most interest. Although I have moved money away from them for short periods when other banks offer more, their consistency has brought me back when the special rates vanished.
When a CD matured recently, I called and asked them to transfer it to my Ally Bank savings account, as I planned to use the money in the next few weeks. The customer service rep offered up their no penalty CD, which paid more than their checking or savings. It could be closed after 6 days with just a call, so I said okay (after looking at ALL the details on their website). They also offered a .25% interest rate bonus to keep the CD with them. When I called to close it a few weeks later, they were more than accommodating, and it was moved to my checking account promptly.
I also like the fact that they give you a rebate for all ATM charges at the end of each month, and there are no fees for their checks or for maintaining your account. The only thing I have to watch out for is the 6 withdrawals per month limitation, which is not problem for me (ATM withdrawals are unlimited).
4
Damn Good Bank!
- francs - Wednesday, November 30, 2011 - 2:13 PMNot entirely sure about the majority of these reviews over a year ago, but I opened an Interest Chacking accoung and a Money Market account over the summer and could not be happier (Note: coming from BOA). The only gripe that I have with Ally so far is that I try to check my account balance on occasion and sometimes (3-4 times since June this year) the website is down. Typically this is resolved, at worst, by the next day. While annoying, it's not been a huge deal for me just yet as I use credit cards for all of my purchases anyway. One other thing, I really wish they had a smart phone app. I would appreciate being able to at least check my balances on my phone and would appreciate being able to deposit checks through my phone even more. Other than those two concerns, I love this bank.
3
Good Customer Service
- fennecfox - Wednesday, April 20, 2011 - 4:42 PMHave had CDs and savings account with Ally for over two years now; every time I've needed to move, open, or close something, Ally customer service has been friendly and efficient. High rates are good; low frustration is even better.
3
Great Bank
- Anonymous - Tuesday, February 23, 2010 - 2:45 PMGreat bank, fast ACH. Offered a .5% loyalty bump on their CD at maturity (after first offering a .25% bump). Was also willing to modify the term (from 12 mos to 9 or 6 mos - although I chose to stay with 12 mos). Highly recommended.
2
Ally Problems To Be Aware Of
- Anonymous - Friday, November 12, 2010 - 4:51 PMFirst there is a problem with their bill pay system. The system does not verify account numbers of electronic payees. One of their CSR said the account would be verified when a payment was made. Well it's a little late if the payment wont go through. Wonder if Ally would pay the late fees? Ally is aware of this problem.
Second their "New" service provider for external transfers seems to have issues. I had linked an external bank account with my Ally account back in 2007. When they changed to CashEdge for a provider suddenly the name of this bank was changed. It was changed to the name of the bank in 2004. Although the account and routing number seemed to be correct I'm not sure I can trust Cash Edge.
I hate to see Ally messing things up like this. They have been good to work with in the past.
Oh berore these problems I would have given them 5 stars.
1
No Problems, Great Rates, Decent Service
- Anonymous - Wednesday, September 8, 2010 - 4:10 PMI have the online savings account and 2 CD accounts with Ally Bank. I have been a customer of theirs for a little under a year.
I have not experienced any problems with their accounts, website, nor customer service. I follow CD rates and notice that theirs are always in the top few percentage points of what is available on the market, with the exception of some of the credit union rates.
I have contacted customer service on a few occasions, generally through their online chat; and have always received accurate information and the support people seem to be knowledgeable.
What attracted me to Ally in the first place was their simplicity; the accounts and rates they offer, as well as their website interface (works perfect with linux). Very simple and uncluttered.
Still pleased with Ally bank.
1
Love Ally's Cds! Talk About A Generous Withdrawal Fee.
I went with Ally bank about 1 year ago. The reason why is because of the awesome 5 year cd rates and the fact that the CD withdrawal penalty is only 2 months interest.
So, do the math. If you can get a 5 year cd rate for even 14 months and then withdraw and get penalized 2 months interest, that is still one full year at a 5 year cd rate.
I also have really like their customer service, website, branding, and consistency. There was cool site that helped me decide to go with Ally, it rated Ally bank on like 7 different areas. I thought it was helpful. Its: Ally Bank Rating
Hooray for Ally bank!