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.
Hooray for Ally bank!
After 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!
I'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.
Here's why leaving my local bank and transferring my account to Ally Bank was a HUGE mistake. I was scheduled to close on my home refinance this past Friday, and on Thursday I was told how much I needed to bring to closing and to get a cashier's check or money order. I tried to get a money order or cashier's check with my Ally debit card but was declined at three stores because my daily debit card limit was $500. I called Ally Bank three times, spoke with four representatives, and all said there was nothing they could do and to wait until Tuesday or Wednesday of next week to find out if I'm "approved" to raise my debit card limit. Really? I told them over and over I needed my money in hours, not days. Then they said to use my debit card "as a credit card" or "point of sale transaction" at Walmart. I went to Wal-Mart and was laughed at when I explained to them what Ally Bank told me I could do. Apparently their cash registers specificly disallow this kind of transaction. I wasted my entire Friday trying to get a cashier's check or money order with my Ally Bank debit card and was completely unsuccessful. I can't believe there's not someone in the entire Ally Bank organization at any given time that can immediately approve a short-term increase in my debit card limit. Needless to say, my refinance closing didn't happen and the earliest I might be able to close again is next week, but guess what ... my interest rate lock will expire before then. Ally Bank has effectively forced me to surrender my locked financing terms. If I hadn't left my local bank, I could have just walked in, got a cashier's check and been done. Just as I told all four Ally Bank representatives on Friday, if I can't get access to my money by the time I was scheduled to close, I will close all my accounts and withdraw all my funds on the first business day I can, and that's exactly what I plan to do now. This is a cautionary tale for those of you who may be considering the "internet bank" approach to banking. No matter how convenient or customer-friendly an internet bank like Ally will try to present themselves as, there are simply limitations that apparently not even Ally Bank themselves can overcome to ensure their customers are getting the same level of service they can get at a traditional brick-and-mortar bank.
I opened a Savings and Checking account with Ally Bank. It was very simple for I insured that the information was right. I was looking for free checking and could not find a bank locally without having to have a required balance amount. I was with Chase Bank who has been charging me 12 dollers each month. I easlily trasferred money to both Ally Account from my Chase accounts. I than closed my Chase accounts got a check and scanned it to my Ally account. All transactions went smoothly. You people having problems seem to be the ones making the mistakes and blaming Ally for it. Ally needs to be wary of fraud and protect your accounts from others who say they are you.
I like using checks for I want to update my account as I use it to keep my balance current. NO MORE PAYING FOR CHECKS they give them to you free with what ever number you want them to start with. NO MORE CREDIT CARD for I get points for using there's deposited right into my account. NO MORE FEES I can use any ATM in the USA..
Ally great job and you all looking for a great bank you found one here with Ally, I would ignor those complainers looking to justify there mistakes.
I switched to Ally from Wells Fargo since they claimed the were not going to scam me or rob me of my own money. Last month I overdrew on my account by $8.00. I was in the negative and literally had no money to my name. I was in a really bad place and was unable to pay my bills. Within a week, I finally received and deposited a check for over $4000. I received notice that Ally will not allow me to access my deposit for over 7 business days saying I have overdrawn on my account repeatedly. This is infuriating. This is a lie. I have overdrawn ONCE! it has been over a week since my deposit and I am STILL unable to access my money- MY money. I have called Customer Service and have been informed it is out of their control and it was the "computers" doing. Yes, they were serious. Customer service actually blames the computers. I am now late on my rent, electric bill, car insurance, and school tuition. After I get access to my money I am closing the account and never looking back. Thanks for nothing.
I 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.
I 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.
Closed Ally accounts after they put a fraud freeze on my accounts and would not tell me what was going on even after going through all the verification and wanted me to wait till the next day to talk to someone in fraud department. Finally that evening I got to a supervisor who revealed only the joint account was blocked because the other signer had reported correspondence came from Ally unsealed by their mailing service. They never told the other signer they were blocking that account. It's not acceptable to deny access to liquid funds without notifying the account owner and explaining what to do about the freeze.
I 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.
Absolutely, absolutely 0 stars if I could.
Out of all my experiences dealing with banks and financial services, I can tell you that Ally bank is by far the worst experience I've ever had. Do NOT be deceived by their seemingly high interest rates and clever marketing of putting customers first. Nothing, and I mean nothing, is further from the truth. I opened a savings and checking account with them, and because of the high interest rate, I recommended my wife and dad to do the same. A week later, my dad's account was locked without any notification. When my dad called, the customer service rep refused to tell him why they locked the account, and referred him to a "fraud" specialist. The problem is, the "fraud" specialist could never be reached nor would this person return his voicemails. A few days later, both my account and my wife's accounts get locked - again, without notification or warning of any kind. To make matters worse, I made the mistake of already putting in my hard-earned savings - over 10K worth - into the Ally account. Now these money robbing "allies" basically locked out my money, all WITHOUT telling me why. Again I called, and after waiting on the phone forever, was given the same run around as my dad - nobody can tell me why the account is locked, I need to talk to the fraud department, and of course, nobody from the department is available. Left a voicemail and..surprise surprise, no callbacks. I'm still trying to reach them so I can get my money back!
Keep in mind we're just a regular hard working family with absolutely no credit problems or criminal backgrounds. I have investment relationship or accounts with most major banks, both physical and online, and was never treated this way. I mean there were bouts of bad service, but nobody has ever denied me money that's literally mine. I've never felt so abused by a company in my lifetime. Do you know any other bank that will lock your account and freeze all your assets WITHOUT telling you? I feel like I'm some sort of a drug dealer, and the FBI is cracking down on me. It's one of the worst feelings ever. To top of all off, the customer service representatives on the phone were incredibly rude, and they like to transfer your call without telling you that they're doing so. Literally, they told me "I'm going to put you on hold," and the next second, I'm getting "you have reached the loss prevention unit, please leave a message." Absolutely infuriating when you're trying to recover money that's yours in the first place! "Loss prevention unit," why does a bank need this when I'm the one who's putting in the money while they're holding it hostage? And I need to convince them I'm not some sort of the criminal so I can get the money out!!?
Again, do not ever, ever bank with this company. Don't be like me, do some searches online first and read all the complaints. A bank like this deserves to go under.
I have nothing negative to report about my experiences with Ally. Whenever I need to talk to someone, be it by online chat or phone, I always reach someone quickly. Best of all, they are in the US and are easy to understand. I'm not against talking to outsourced employees, but it makes explaining things much easier talking to someone from the US.
I have multiple CDs, an IRA, and a savings account. To date, I've not had problems with any of them, although I haven't withdrawn any funds at this point. Hopefully, though, my positive experience to date will remain so.
I will stay with Ally because of their competitive rates, great customer service, and easy to use Web site features. Should that ever change, I'll let you know!
I had the most frustrating experience with Ally. After completing my application, I was asked to give them a call to finalize some things. Their systems were "down" for several hours and, on my sixth call to them, they told me that I needed to fax a copy of my driver license to verify my address. I told them that my driver license has an old address on it because, like many other states, New York does not issue a new driver license when you move; they simply have you write the new address on the back. The representative then asked me to fax a copy of my utility bill, which I did. After two days of hearing nothing, I called back and asked for a status update. The representative said that they received a fax of my utility bill but no one knew why I was sending it in and they closed my application. She then told me that I needed to fax a copy of my driver license --- I, of course, repeated the story for the tenth time. She put me on hold and then came back and suggested that I go to the DMV and request a new driver license. When I told her that New York doesn't requrie this, she then told me that I am not able to open an account until I move to a new state. I was furious! I ended up going to Charles Schwab Bank, which opened the account for me without any problem and has been providing me with EXCELLENT service!
Spent 2 weeks setting up account, sending in signature cards, etc. After my employer direct deposited my first check ally closed down our account claiming we had "business activity" because of the direct deposit! Then the lady Nicole in the fraud department was absolutely rude to us and treated us terribly. She wouldn't listen, continued to talk over us, etc. These people are insane! Avoid at ALL costs!
Ally 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.
Ally offers a superior product, but their customer service and bank processes are lacking. I opened an Online Savings account with $20,000. I received a call the next week from Ally notifying me that they accidentally withdrew the $20,000 twice from my account, and asked me to call my other bank to try to stop the transaction. My other bank told me that Ally was the only entity that could stop the transaction since they were the side that was initiating the withdrawal. I called Ally back and the agent told me that Ally's system is not able to stop an initiated transaction. The entire time they treated me like it was my fault and I received no apology. I contemplated closing my Ally account in frustration, but decided that it would be counterproductive. My other bank charged me a $25 insufficient funds fee that Ally only refunded once I sent them a scan of my other account statement and after several calls. The credit shows up as a "Goodwill Credit" in my Ally account. It should have said, "Refund due to Ally mistake." Now I have spent several hours and have a returned check status at my original bank due to an Ally mistake and have yet to get an apology or anything for my trouble from Ally.
Ally 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.
I 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?
The 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.
I'm sorry to say that, after being a customer for over two years and singing Ally's praises to groups of friends and on social media, I'm leaving Ally Bank within the next two weeks. I had great service when they first launched, but recently I was attempting to get a larger sum of money out of my account (because I needed to put a deposit down on an apartment). After picking numerous touch tone options and speaking to three people, I was moved to Phil, a supervisor.
He was awful. Absolutely awful.
I was clearly upset and stressed, but Phil showed about the level of empathy as a desk fan. Rather than trying to talk through different options, Phil chose to repeat the same terms and service information over and over again. At no point did he apologize for the inconvenience or explain why my limit could not be raised. He just kept being exceptionally rigid and condescending.
Look, I get that there are fraud protections in place for cash withdrawals. I do, and I appreciate the concern. Yet, for some reason when I called back and spoke with Katelyn the story was completely different. All of a sudden there were options. We could go through the fraud department, but we could also wire the money, figure out a debit arrangement, set up a transfer to another bank for certified checks, among others.
To make matters worse, Phil then did what I can only assume is an act to get me off the phone, claiming that reception had been lost. Funny how reception is lost when I had full 4G bars and could actually here my echo in the Ally phone system (I make calls from the same location all day, every day - never a problem). I then heard him announce that the connection must have been lost and that he was hanging up, which then lead to the last straw - he didn't try to call me back.
If someone is upset and you lose a connection, the sign of great customer service is you calling someone back and not forcing them to go through the phone tree again. If Ally wants to treat me like a number, because they're growing, then that's fine, but don't claim to be my "ally" and all about service.
To summarize, the product is great and you do get good rates (relatively), but when it counts, Ally is awful. You should use another bank.
Our son is deployed in the Marines in the Persian Gulf. We received a "welcome packet" from Ally Bank and emailed him that it had arrived. He said he doesn't do business with Ally Bank and asked that we open the envelope. He said to toss it if it's advertising. It wasn't advertising. It was two accounts that been opened using his social security number. I called Ally and spoke with Dustin Price who told me my son has to call to report identity theft. I explained he's in the Persian Gulf and couldn't they lock up the account until he can reach them. He literally laughed when I asked to speak with a supervisor when he told me there's nothing they can do. The supervisor, Jason Parker, said I "might be the fraudster" calling in to report the problem. I told him I wish they'd been this cautious when they opened this fraudulent account. And how many "fraudsters" call in to close accounts, know the address of record and the date of the letter they just sent out. I am outraged that they will not take any preventive action, even temporary, to protect the identity of a service member overseas. I hope you are outraged too and will consider alternative banks and credit unions before working with Ally.
I can transfer my money into my Ally Account in a matter of minutes. When I want to get it out, "well that'll be a few business days" or you can send them a form by fax for a wire transfer but I tried that twice and they just say we never received it. I ask if I can email it to someone and they say we can't give out our email addresses it has to be faxed. I ask how can I get confirmation it was received and they say "call us after a few hours and we'll check to see if we got it". Guess what! I call and "Please hold" "please hold" "please hold" and an hour later "no we can't find it" STAY AWAY!!!
Transfered my money out of ING in a matter of minutes
My two partners and I tried to set up an account with Ally. we were not able to enter all the information to set up the account online and had to call customer service. Then, because there were three of us on the account, they had to review it (5 additional days) before they called to request additional verification of ID for the other two account holders. We sent this and heard nothing. To top it off, we were unable to check the status of the account online, everytime we received a message to call and talk to a customer service rep. Today, I was told they sent a letter a week ago with information about the decision on the new account. No letter has been received and they could not provide any information over the phone. I would not recommend this bank based on the slow turnaround and lack of customer service. We get better service at a traditional bank.
Seems 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
I've been using Ally for five years now, and I've never had a problem. I'm connected via ACH to two other banks, and transfers have always been smooth, in both directions. I have two Ally accounts and use one for tax holding and one for general purposes. I had a CD at one time and that was fine too. Their rates are generally good; not the best, but definitely better than average.
I just spent so much time setting up my Ally account. I switched over since ING is going to Capitol One soon. BIG mistake. Problem after problem. It seems they have only been opened for a week. I could not even activate my debit card and when I called about the problem, the customer service person could not help me. She said she would send me over to a survey after the call, but instead hung up on me. How convenient! I also called about a bug in the Perks portion of your website - the system will not retain multiple zip codes. They told me it was a known problem and they would look into it. Well that was a week ago. I am a programmer and know that problem would not take long to fix. Also, their chat disconnected me multiple times. There are so many problems already, I do not want to take a risk that next time the problem will be with my money disappearing. I just pray that all my money will make it out of Ally intact. I will never bank with them again.
This 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!
I have descended into a black hole of chaos. Never use this bank. Tried to open up an IRA because the interest rates were the best. Two full weeks of multiple conversations with supervisors who promised a return call within 24 hours 'without fail'. Never a call back. Finally, after two weeks, the long-awaited return call with message: "Please call back ASAP. Everything resolved." We call back the next day, and the same story: spoke to a manager who had no information, couldn't tell us anything, and promised a call back in 24-48 hours. Over two weeks of this nonsense. Called the CEO of ALLY bank, Barbara Yastine (646)781-2521. She is out of town, her assistant is out of the office, and the assistant's assistant who answered the phone knows nothing and promises a call back. All of this to open an IRA. Imagine trying to get my money out!
The whole point of the online banking system is to be able to deposit checks online. A few weeks ago I was suddenly unable to deposit checks using their software. All of my equipment was the same, but I was suddenly forced to manually upload my checks. That worked a few times, but now that I'm trying to deposit my last paycheck, an error message pops up saying to make sure the image I'm uploading contains the check image, and it does! I called up and was told they were aware of this issue and would get back to me within 48 hours. TWO DAYS. I told them I needed the money ASAP and as a bank they should be providing me access to my money. I live paycheck to paycheck.
After I got off the phone, things started to get worse. I got an email saying my "telephone pin" had been changed and if I hadn't changed it, to contact Ally immediately. Genuinely sick of their unknowledgeable customer service reps, I decided to run errands. I went to a store and my card was DECLINED. THAT got my attention, so I called them immediately and asked if someone had access to my card. I was told that "someone would get back to me within 48 hours" about my card being potentially hacked! Two days! I asked that they call back at least the next day, and I was told they would "put in that request for me."
I just tried to access my online banking to monitor it for the possibility that someone was using my card, and MY ACCOUNT WAS BLOCKED from my access! I called back (the next day) to ask if I could have access but was told that I had to wait for a representative to contact me in order to get it unblocked! I have ZERO access to all of my money right now and ZERO answers. I have to somehow EAT today and also make a deposite on my new apartment by the end of the month. Are they even legally allowed to take these actions? It's horrifying! Save yourself.
Fast & friendly service. Always a real person to talk to. Had a problem with a transfer & the customer service rep when above & beyond the call of duty.
I 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.
I'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).
I wish I could give them zero stars. My husband and I have been trying for OVER 5 MONTHS NOW, from Ally to a brokerage firm. They keep coming up with reasons why they won't release our funds. Be forewarned, the incompetance runs rampant here!!!
I attempted to open a new checking and savings account with Ally Bank recently. After completing the application though I was given an error page and it stated I must call Ally along with a reference number given. This is where my first impression was shot about Ally...
The Ally rep asked multiple questions, several of them he asked atleast two times. I understand that they need to verify the identity of the caller but it was getting ridiculous. During this 20+ minute call, I was placed on hold 4 separate times, lasting from 2-5 minutes each. The rep seemed to be confused at times, unable to answer my questions, and just seemed not that familiar with any of the procedures of the bank he was "working" for. This made me alittle uneasy as I was really confused about why this new account was being held and investigated further? The rep said I would have to wait 3-5 business days for a "Specialist" to contact me... I questioned what this was about or what kind of "specialist" this was, none were answered by this rep.
Finally I just was fed up and unsure if I'd made the right decision to even submit my personal information to these people... seemingly they are either unsure of what they are doing or just incompetent. So I told the rep just to cancel my application and I would find another bank to deal with.
After thinking about it more, I decided to call back, hoping to get another more knowledgeable rep that could atleast help me understand what they were doing and why a "specialist" needed to investigate my information in the first place. This second rep decided he did not want to listen to my concerns and hung up on me!
I was upset at this point, so called back a third time and demanded to speak with a supervisor. The rep asked what the issue that I needed a supervisor for and I told him what had happened from the beginning. He explained everything they needed and I still don't understand what they need to investigate. I would stay away from Ally Bank!
I have used ally CDs and savings account for 3 years. I never had a single problem. At one point I closed 5 CDs early since I needed money quickly. I was surprised how smoothly and promptly this transaction was executed. It seems that this forum attracts negative reviews, which is somewhat understandable.
If you start to set up a CD and don't fund it... a couple of months later you get this email from Ally: "Your Ally Bank account is now closed." Long after you have forgotten that you didn't complete the CD.
It's no surprise that Ally's rates, features, and (lack of) fees are pretty great, but their customer service is awful. Sure, after going through an annoying menu, you can get to a real, live, friendly person. The problem is that those live people are unable to solve most problems, answer most questions, or really do anything but have a conversation about the weather (which they always try to work in... must be on the script). Their limits and rules are so confusing that when I call to ask about them, each employee gives me a totally different story! There are many better banks out there that offer better rates and hire competent people.
I've had a really good experience with Ally Bank until recently. A couple weeks ago I had a CD mature so I called to have it transferred to my Ally Savings acct (ideally this would be done on-line but Ally does no allow this). The rep told me that the transfer would occur in 1 - 2 business days. I checked four days later and the transfer had not been done. I called and they said there had been "confusion" cc: the transfer so they performed the transfer while I was on the phone. I thought the whole thing strange but everything was handled to my satisfaction.
Then a week a later the same thing occurred with another CD that matured where I was told the transfer would take 1 - 2 days. When it did not occur I followed up and the response was that they were busy and it could take 5 - 7 days to complete the internal transfer of the CD to savings (both at Ally). I objected to this so again they did the transfer while I waited on the phone. I appreciate the fact they were honest with the reason but "being too busy" is a very bizarre answer.
I have had CDs with two other online banks and the redeeming could be done on-line. With Ally requiring a personal contact to do this plus this hassle of actually getting a transfer done plus Ally's very low rates I would not recommend getting a CD with them. However my experience with the savings part of their business has been very good although most new savings now goes to ClearSky Accts (Chesapeake Bk) since their rate is higher than Ally.
Not 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.
Have 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.
I 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. Derek, College Student
I have appreciated everything about my Ally accounts except for their eDeposit system. Sometimes I can make a deposit in less than a minute, but often, it can take an hour to make a deposit because of glitches in their online deposit system, having to call to report a problem, and waiting to speak to someone. Never are they able to explain why the problem is occuring or how to correct it, but indicate someone from tech support will need to call back. Tech support never calls back. Today, I made a deposit of one check with no problems and attempted to make a second deposit. It went through seamlessly until the final step where the deposit is confirmed and gave me a message "Oops, the deposit could not be made for the following reason." There was nothing stated as to the reason. It instructed me to start over. When I did and got to the confirmation, I got a message it could not be deposited because I had already made the deposit. I called to see whether the deposit actually went through. The Ally rep stated this cannot be confirmed for 2 working days. Because today is Saturday, and Monday is a holiday, that means I won't get confirmation for 5 days, during which I will not know whether the deposit went through or not. When I complained about the ongoing problems with the eDeposit system, I was told that eDeposit is a new service for Ally and that they are aware of many problems with the system but they are working out the details. As I've been making deposits for a year, I don't consider this a new service, and finid it terrifying that in a year, they cannot get the system oprerational and that they began the system when it was not operational.
I am here trying to post a fair review. Some people's experiences with Ally just differ completely from mine. For me, they have been nothing but great. Their checking accounts are simply great, since they have no fees, ATM rebates, high rates, and free checks and bill pay. I also like their savings account. Whenever I have needed customer service, I just called their phone number and was on the phone with someone usually in less than 5 minutes. They even post the wait time on their website. I was a little skeptical of switching from a brick and mortar bank to Ally, but a year into this transition, I have no regrets at all.
To open an online savings account titled under a trust you must mail them an application because their website can't handle it. Then once the account is opened, you have to call them to get a user ID for the website because their website can't do that either. When we tried to link our external checking account to our Ally savings account it was denied despite the fact that it was the same checking account used to open the savings account. When I called their customer service department to complain, their representative intentionally hung up on me.
I recently opened an acct with this bank. They told me my initial deposit is not available until 10 business days. I said I needed my money to live on and they said that it was their policy and it was stated on page 35 of the pdf file of acct information. you can go to facebook and like the page I Hate ALLY BANK
I just recently opened up an account with Ally Bank. Everything went smooth on opening up the account and transferring money from my regular bank. I also did the same with ING Direct. I wanted to open up 2 small accounts and see which bank had the best experience to deal with before I transferred larger amounts. I had three criterias that I wanted to test, easy of transferring money between accounts, customer service, and mobiile banking solutions (Rates are important but let's be honest they all suck so other criterias are more important in todays financial markets). Ally won the first two criterias. Ally transferred the money faster, Ally has outsanding customer service. A real customer service person was a real nice surprise. However, their Mobile banking solution is horrible and is just not acceptable.
I have an Android Tablet and found out that Ally's Mobile Banking Android application does not work on Android tablets (only Phones) and was told by their tech support that the app will not work on android tablets until the end of 2012. This is unacceptable for an internet banking company. As they say or ESPN "C'mon Man", you got to be kidding!!!! It only shows me that they are not capable of competing in this market and one would have to question investing one's money in a bank that is not ready for "Prime Time" in the Mobile App Market. They may have a slightly better rate than ING but ING seems to have their act together with their internet and mobile solutions. It just makes me more trusting in ING at this time. I am bitterly disappointed in Ally that they are taking so long in coming up with a mobile solution. If I was CEO of Ally I would appoint a team to get this accomplished immediately --- no excusses accepted!!!!
I do not understand how they can get such glowing reviews when their Mobile Banking Solution is so terrible. And I am trying to be kind here. It is just awful and Ally Management better take steps to bring them into today's mobile banking environment or they will be out of business soon!!!!
If Mobile Banking capabilities is important to you I would stay away untile they get their act together!!!
Disappointed new customer and transferring funds to ING or some other Bank who understands Mobile Banking solutions.
Ally has caused trouble with me twice. First, I set up my car loan with them. I went ahead and made my first payment with them instantly and then set up my auto draft. Please note that the first payment was made March 08. Their online auto draft said that the next payment wasn't due until April 27th as March 27th had already been technically paid. They drafted from my Wells Fargo account on March 27th, which I had not planned for. I had also been in a car accident a week before, and in the midst of budgeting for repairs, I hadn't noticed that Ally had went ahead and taken their payment twice in one month. Wells Fargo overdrafted. I said fine, my mistake, and called Ally to let them know. They apologized for the issue with March and said that I wouldn't be due for payment until May 27th. Their website reflected this.
I was drafted today anyway. I called Ally and their only solution was that they'd "fix" my account again. No. Just, no. I've issued a stop payment through Wells Fargo and am currently looking to have my auto loan transfered. No thank you.
On a recent Tuesday, I decided to use my savings to make a large, final loan payment with Ally. Excited to see my balance drop to $0, I kept checking the site. The next day, my vehicle was not listed, and I found an explanation that this was likely due to a payoff. My savings account with my regular bank showed nothing pending. Friday the vehicle reappeared. I saw the payment listed along with a "payment reversal" and an $8.45 "additional fee", with no further explanation for anything. I called Ally and was told the payment was rejected due to an incorrect routing number, that he could only see the last 4 digits, and that I could get more information if I called back Monday or Tuesday. I called Tuesday and was given the same routing number explanation. I asked him about the $8.45 fee. He told me someone would call me right back to explain this. Nobody ever called, though I did receive an automated check for $8.45 and a letter saying my payment was rejected, with still no explanation for either. Saturday I called and got my third, clueless associate. This one put me through to a very nice lady in customer relations. She gave me the wording of the message, which sounded more like the bank might have rejected the payment. My payment should have been applied Tuesday. By Saturday the payoff amount had gone up significantly. Ally's policy forbade this woman from making any changes to what I owed. She told me the $8.45 were finance charges and agreed that the automated check made no sense. I later found out from my bank that my routing number was correct, but for online payments I need to use the same one I use for my checking account. Once I receive my car title, I will never allow myself to owe anything to Ally. If you owe them, do yourself a favor and ask to go directly to customer relations.
I wouldn't consider them for any product, based on my experience from them managing my car lease.
1) You call to ask questions, and are immedialy routed to india.
2) Fees galore. I wanted to change my due date to the end of the month, they wanted to charge me $17 per DAY. I have moved due dates for most things, including previous car leases and loans without a problem. That's a $391 fee to change my due date from the 5th to the 28th. You would expect this from a crappy bank that services people with bad credit.
I gradually trusted them with my funds, increased the amount of bills a paid, and moved 100% of my payroll direct deposit. And then . . . they cancelled my account leaving my payroll and other deposits in limbo. The loophole, they said I linked my paypal account which is categorized as a business account. I said to the person on the phone, can I just remove the link to the PayPal account? She said "no, you will not use this account again" why I asked myself, they want me to open a new account with them in which the terms and conditions are different. To me, that is the most unprofessional way to treat a customer, I will never do business with Ally.com, that is the only thing I can do, because I can never take back the sleepless nights after they left me with late bills and wondering when I would get my payroll paper check instead of the direct deposit I had entrusted to them. :-(
I'd always been happy with Ally -- until I had some complicated wires to send out. All I can say is, What a mess! I suggest that if you anticipate needing a wire, get in touch with them at least a week in advance and then make sure you get their security call within the next 48 hours; if you don't receive the call, start agitating. Understand that it may take them 24 hours or more AFTER they call you to get the wire going. I wish that, instead of depending on wiring, I'd written checks and had them overnighted to the receiving institution. Not only would I have saved fees and hours of my time, but the sending institution would have received the funds the day I designated, not two days later.
Michael Carpenter (CEO of Ally Bank) should do an internal audit and fire more than half of his people in management positions. Seriously, some of the policies this bank has are ridiculous. It's almost as if they want you to come in and close your account. Ally just lost my account, baited me into making a deposit through their check app, then proceeds to hold that check for over 10 business days! 10 BUSINESS DAYS!
Nothing the reps could do on the phone. When I try and talk to a manager or a supervisor, all I get is half-assed answers about how policies are policies and no-one can do anything about them. Why even have management if policies can't change. I don't see this bank lasting. Alll that money they waste on commericals, they could just open a few branches around the country with and prevent dumb things like this happening.
Don't bank with them, you'll be sorry.
I had a direct deposit go into my account at Ally, from a depositor that had sent funds there before. I needed those funds and couldn’t wait the week or more normally required to transfer funds to my brick and mortar bank. So the only option left was to pay the $20.00 they demanded to do a wire transfer. I initiated this transfer in the morning and while repeatedly checking with them throughout the day, providing whatever they asked for in the way of verification, even so far as to have the depositor contact them directly to ask them to release the funds, it still ended up in the fraud department just before the fraud department went home for the day, so much for 24 hour a day service. At best, you can reach a non-empowered employee who will wring their hands an feel really bad for you, but can do nothing to help. Don’t believe the ads, that’s all they are, ads, there is no real connection between the empty promises and actual experience. I regret the day I ever applied for an account, I should have never left my local bank.
Bank transfers from other banks are slow to deposit in your account. Same for checks mailed or uploaded online. No fees were nice and reimbursement of any ATM fees anywhere, but my last straw came when they put $1000 of my money on hold with no explanation and after 3 phone calls couldn't fix it or tell me why it had been done. Then my debit card was cancelled without any warning. Customer service was less than helpful.
I opened an account with Ally bank and asked them to do an ACH transfer from TD Bank for $241,000.00. They told me that they would send two small deposits to my TD bank account and not until I verified the amounts of the two deposits would they fund the account. Instead here is what they did. They immediately sent an ACH transfer to TD Bank without ever sending the two small deposits. In the interim I read of all the poor reviews so I decided to not open the account and closed the Ally account. In the meantime my $241,000.00 was in limbo I had no access to it and still do not. I placed a stop payment on the transfer but won't know until today if it was successful. I talked to a supervisor who refused to allow me to record the call, and told me that in the notes it said nothing about the two small deposits having to be verified before they requested the money from TDbank. I called him a liar and know that the opening of the account is recorded by the bank. I intend to file a complaint with the Department of Banking and Finance in Utah today.
Stay away from these liars like the plague. If I could have put a zero in the review I would have Ally Bank is less than zero. ALSO read the terms and conditions they will scare the heck out of you!!!!!
Stand by for a real screwin' when it comes to edeposit. They WILL put a hold on it for at least 7 days. TERRIBLE SERVICE. Upper management is a computer. I believe they're owned by an airlines.....ya know the ones charging a $100.00 fee for a carry on bag. BEWARE of HIDDEN Charges. LOOK at ALL their policies in GREAT detail. BEWARE....stay with your current bank !!!!
The reason I start off with Beware of companys or banks that change there names Is that this is gereral motors old bank... GMAC with some make up !
You can change a name does not mean a better bank. They will never ever be a good bank.
I 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.
Great 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.
i am very disappointed with Ally Bank. They have not followed through with my requests. When setting up accounts for my neices and nephews, there was not consistency in the information needed to set up the accounts. With some accounts they kept asking for SS cards, drivers liscense, marriage liscenses, ect, but with other accounts nothing was requested. They couldn't get the joint account information address correct and I would not recieve anything at my address it went to the addresses of my neices and nephews, with my SS on it. Not very secure!! it was very time consuming to get the accounts set up and when the CD's mature, I will move them somewhere else!!
I HATE this bank, period. Since I have an an Ally account, nothing but issues. I have closed all my accounts today and will be moving to back to Wells Fargo and Chase. I have learned to love banks that have a face to face option, and, that doesn't hide behind its "policies". If that means I have to pay fees then so be it. Its worth it to me to have something Ally is missing, CUSTOMER SERVICE. For those of you who love Ally and have had no problems, great. However, its only a matter of time.
I have had 3 savings accounts with Ally for just over a year. I have the accounts set up to do transfers to and from three accounts at other banks (checking and brokerage). Never had any issues. Transfers take one day if I initiate the transfer through my USAA account, 2 days if I do the transfer from Ally. Never had a reason to call customer service so cannot comment on that side of things. The website is very easy to use and laid out well.
Only complaint is the fluctuating interest rates. In the year I have been there they have been all over the place. They do still remain competitive though so it has not been worth the effort to move my money elsewhere.
If you just need a simple savings account, where you can wait a couple of days to get your money, Ally is great.
Ally bank makes payments to paypal even if you don not have the funds in your account to pay it.
Paypal is equipped to go to an alternate source if there is not sufficient funds so this should not happen.
Ally advertises on ebay, which uses paypal as its primary source for purchases as shown in my link below so they should be equipped to handle payments from them, but they are not.
I have a hard time believing some of the reviews in this thread, especially the ones about phantom withdrawals. In all my years banking and knowing people who bank, I've never heard of something like that actually happening. It sounds more like the kind of thing a person would make up if they wanted to tell some banking horror story. The facts about Ally are: free checks, reimbursement of all ATM fees, good rates, a user friendly website, and 24/7 customer service for which I, personally, have never had to wait more than thirty seconds. Plus, funny commercials!
Have had a savings account with them for over 3 years. I don't know what others are complaining about. I opened my account easily and move money between accounts all the time and never had a problem. Just wish the rates were a little higher but who doesn't.
I tried using ally bank for several months. The features were nice, but it is NOT worth the hassle.
They constantly treat you like a criminal and make little things like depositing a check made out to your middle name instead of your first name a huge hassle.
The final stray was when I tried to make a wire transfer. The whole process took 3 days, which had me continually scanning and faxing forms and documents (this is not how a wire transfer should be handled). Eventually they told me they didn't like my signature on one of the forms and 3 days of time was wasted.
Lets just say DO NOT let ALLY BANK finance your car! Wanted to pay off my car to these idiots, called them and they told me oh just pay online ...AHH NO you dont cause if you have any else buying your car it can take up to 3 weeks for paper work ...So then I called again and a supervisor told me to send Money Gram and cancel my my online payment....So I did and I called to confirm this while MY Bank listen and again this is what they told me so My Bank went ahead and fronted me my money and they will get it back from ALLY....So it has been four days and they still said they have NOT received any MONEYS and MONEY GRAM is instant and money Gram has a receiver code ...sure enough money gram says they (ALLY) has received this money on Thursday which was last week! OUT 10,000 Just sayin CROOKS! CALLING FDIC NEXT Actually they get NO STARS But that was not a option here!
This bank has got to be the worst bank ever. I tried to open an account online and was told they needed additional information and to call a toll free number and give them some reference number that was something like 25 digits long. After I gave them that info it took about 10 minutes for them to locate my information. Once they found it they told me that they couldn't let me know what information they needed and that I would be contacted in about 3-5 business days. Even though, the reps were friendly and trying to help I found it rather ridiculous that they couldn't tell me what info they needed to complete the process. DO NOT DO BUSINESS WITH THIS BANK. THEY ARE NOT PROGRESSIVE ENOUGH FOR THE 21ST CENTURY APPARENTLY.
I have quite a lot of experience opening accounts with various banks around the country, but have never been subject to the red tape I was exposed to at Ally Bank. Before opening a $250,000 money market account for me, they wanted a copy of my social security card and told me they would have to run a credit report on me. Never had to supply a social security card anywhere.....only the number. As to the credit report, I told them they had it wrong! I was loaning them money, NOT the reverse.
0 fees at all. Super good customer service 24/7. You can chat, email and call them any day any time. Unlimited atm refunds. Competitive rates, nationwide. Free checks, free deposit slips, free postage paid envelopes, free online billpay, free ebill, you can deposit your checks by scanning them with your home printer and send them using the Ally webpage software, you can transfer money between your various Ally accounts, other banks accounts and you can even send money to people with Popmoney service by just using that person's cell phone number or email! They even offer free antimalware protection for their customers coputers (all your computers) They have the Ally perks, a great savings tool by using your debit card with participating retailers instore or online. Ally bank, just makes a lot of sense! I definitely recommend this bank. The only thing that keeps them from getting a perfect score is that they have not develop an android, Iphone , tablet app yet. But, Ally already stated that they are working on it. 4 stars out of five for Ally bank.
Ally Bank is really a good bank, I have a savings and CDs with them. I will open a checking once they release their electronic check deposit. On CD renewal day, they offered me a 25% bonus. The only con is that they now use Cashedge system for ACH so it takes an extra day. Good interface online and 24h customer support.
First 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.
I 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.
Today is Jan 30, 2014.
In the past, I was a very pleased with Ally Bank services and phone service agents. This afternoon, I had to call for service as my online account access was blocked due to no contact for "quite a while". It took two calls to get the access unlocked. Both service agents were courteous. However, during the conversation, the first rep called mentioned that each of my accounts was FDIC insured for the $250 k amount. I have several accounts with Ally including CD/s, checking and savings accounts. The total for all accounts is more than $250 k. All accounts have identical account ownership. I mentioned to rep one that I thought that he was in error and that I was partially uninsured. No, rep one was very certain. The dialog continued and then he reread a "Guide" he had, out loud to me, and then when parsing the words and more dialog, he recanted his prior statements that all of my six accounts had $250 k each for a total of 1.5 million dollars. Later, still working on the lockout, I had to call Ally again to resolve the problem. Rep 2 did accomplish the unlock, and I asked rep 2 how much FDIC insurance coverage did I have, and he came back with the same initial response as rep 1 - $250 k for each of my six identically registered accounts. I suggested a different interpretation, but unlike rep 1, rep 2 stayed firm and mentioned that the FDIC had a worksheet I could run. End if ALLY contacts. I ran the FDIC tool and yes, I was uninsured for all amounts greater than $250 k. Just to make sure, I called the FDIC and that rep confirmed that the worksheet was correct.
Bottom Line for readers with accounts at Ally with amounts greater than $250 total - I recommend that you confirm your FDIC insurance coverage with the FDIC worksheet and a call to the FDIC if necessary. Granted a sample of two account reps at Ally this afternoon is just two, but there is a problem there at Ally - 2 for 2 misstatements re: FDIC coverage.
Be aware! The link for the FDIC tool was at http://www.fdic.gov/EDIE/calculator.html
When the letters come a month before the end of each batch of CDs, the phrase "RE: Certificate of Deposit Maturity Notice" is displayed in the giant window of each window envelope. Not very privacy conscious!
I am a fairly new customer with Ally. This is the worse Checking Account I have ever had. I diverted from the big banks (BofA, Wells Fargo, etc) due to their malicious practices of labeling low-balance customers and taking advantage of their lack of cash flow. A vendor erroneously debited my account. I contact the vendor and Ally and the Ally refunded the overdraft fee and the vendor agreed to return the funds. The vendor took over a month to return my funds. When I did received the refund, Ally decided to hold it for 7 days stating the hold was due to me having a recent overdraft. WAIT, the same d*** overdraft you refunded? And also, the deposit is for that same d*** transaction? Really??? So I chat online, and "Rihanna" was obviously the singer, and not banking associate as she refused to understand the case and help me further. So I called the 800 number and at first, was labeled with stereotypes that "a lot of people have holds because they have multiple overdrafts". I had to encourage the associate to review my account before labeling me as a repeat offended. There, she found that the only overdraft fee I had received was for THIS incident, which was refunded by the bank and original debit was returned. FINALLY got her to enter a request to remove the hold from my account. She also found that Ally had my account labeled as having received 6 or 7 overdrafts, of which she was unable to locate any others accept the one refunded. It would behoove them to take the necessary steps to review the customer's account before assuming their situation fits the punishment. So disgusted. I am dropping my payroll direct deposit with the checking account and will only use it to transfer funds to/from the MMA to avoid delays with transferring between banking institutions.
Signed, Disgruntled and Turned Off
A lot of negative reviews about Ally. I frankley never had any problems with them. They even refunded several over draft fees for me. I did however leave Ally for Cap One 360 which is also a very nice online bank.. I like their customer service and their terms a little better. They also offer a $50 cash bonus for using your debit card. 0 FEES however is the best part. Not even overdraft fees!
The above link will offer you several different promotions they are currently offering.
As for Ally, they where also a good bank. I just like cap 1 much better.
If you do not need to talk to a teller or frequently make deposits, you can't do much better than Ally. Rates are great, customer service is pretty good, and free external transfers are a really nice feature, as are ATM reimbursements and free, unlimited checks.
There are two main reasons they don't get 5 stars from me:
1. I had a pervasive issue with my debit card PIN not functioning and getting rejected about once a month, but that has since been resolved through customer service.
2. No remote check deposit in their android app. I figure it'll only be a matter of time, but for now it's detrimental when their customers primarily bank almost exclusively online. They do provide postage-paid deposit envelopes in lieu of this, but remote deposit would just be better.
I have both CD's and an an online savings account at Ally. Due to low interest rates, I'm closing CD's as they mature and "doing something else" with the money.
A few months ago, an Ally CD matured. Through secure email, I set things up in advance to have the CD closed and all funds deposited into my Ally online savings account upon maturity. The money was available either the maturation day, or the day after (I no longer remember). That's reasonable. I initiated a transfer to my own bank, and two or three days later the money was available to me. That's also reasonable.
I now have another Ally CD about to mature. I've been told that "due to security reasons" they can no longer arrange for CD closures through secure email. That's a PITA, but okay, it just means I have to call them on the day it matures.
What really burns my butt, though, is their new policy for internal transfer times: 3-6 days to close my Ally CD and transfer the money to my Ally online savings account. What?!?! That's a rip-off; considering the amount of the CD, that's about $40 in interest I'll lose waiting for them to transfer my money from one Ally account to another Ally account. Ally might as well send someone to my house, kick me in the ****, and steal $40 from my wallet while I'm lying on the ground.
I'm now deciding if I should close all my CD's, in case Ally decides to change their 60-day early withdrawal fee language. Ally's change in internal transfer time doesn't bode well; I might be better off eating the 60-day fee, which I could expect to (though not guaranteed) make up with the "something else" I'm doing with my CD money.
I'm not a fan of the banking industry, but thus far I have not had a single issue with Ally CDs. With the renewal bonus I've found their rates have been very competitive in the U.S.
I have been banking with Ally for over a year. They asked me to provide a street address and said cannot accept PO Box address. I gave the required street address. Few days later I got these emails from ally bank that said my accounts were closed. When I call the customer service, they realized that the address is not updated on my account and because of that all accounts were closed. I was not even informed a minute ahead that my accounts including CDs are going to be closed. They said they cannot restore it and I was charged early withdrawal fees on my accounts. Had I not opted for email communication, I would have not found out that my accounts were closed until couple of days later. I would never bank with someone who close my accounts without informing me.
Ally insists on running a credit report for ANY new account opening, even for existing customers with other active accounts with them.
This is an unnecessary requirement from both the FDIC and federal reserve, and a hard cost to justify for those of us with a credit freeze in place. I'm not spending $5 every time i need a savings or a new CD account opened. No other bank I've done business with has had this requirement for existing customers.
Their customer service is all outsourced. Horrible! I will never do business with this bank again!
I've had so many issues in the past with Ally's bank cards and various IT issues. Everytime I go out of town my card gets blocked and I have to call some 3rd party security outfit and verify transactions...uggg. Two days ago, I found 2 fraudulent transactions (from Bangladesh - go figure) and notified Ally immediately. They refused to take the complaint because the transactions were not fully complete and elected to make me re-contact them two days later (guess it was just way too much trouble to take down the information and act on it in 2 days). I called back in 2 days to *finally* get the 'investigation' started and was told Ally will snail mail me forms within TEN business days to return. As far as the funds? Well, they will be 'provisionally' returned when the 00'investigation' officially starts (hopefully in 10 days assuming they actually mail them and I don't have to call back in to start the process all over again).
I asked the csr if it was ok, then, for me to overdraft my accounts by $800 (the amount of the bad transactions) and just respond to Ally that I would make a provisional deposit withing 10 business days to cover the amount.
Ally should stop wasting all of the millions they are spending on 'how great their customer service is' if this is how they truly treat their customers. The money would be better spent in Bangladesh...
I had quite a few negative experiences with Ally, but none of them were deal breakers. They were more like annoyances such as telling me I didn't have enough money to cover an automatic bill payment, whereas, I did and Ally paid it despite the message. Anyway, I plan to stay with Ally.
Most of the online banks are interchangeable. Although the Fed rates have remained stable (close to zero), the online bank rates have dropped. Still, it's better to earn 0.84% or 0.9% than nothing, which is what brick-and-mortar banks pay, especially commercial banks.
I've found Ally to be just as solid as ING (which my sister uses) and Emigrantdirect (which I stopped using when their interest rate plummeted.)
On quibble: They post the monthly interest payments on the 5th of the month rather than the 1st. But they're consistent about it.
Another quibble: They're no longer the highest-paying online bank, but not by much.
I tried to open a savings account with Ally because I thought an online account would be a good way to start to create a little financial security after my recent bankruptcy. Ally denied my attempt because of the bankruptcy.
After maintaining an exceptional credit history for 30 years, my divorce put me in a position where I could no longer manage my debt. I still have a mortgage and car loan that are paid on time every month. I'm not sure how Ally thought I would be irresponsible with a savings account... but that's fine, ING Direct didn't seem to have a problem with it, so that's where my savings will grow!
I have a CD, savings, and decided to open a checking account with Ally because of the echeck deposit service they offer. I tried to make a deposit using their echeck service into my checking account, but couldn't do it. I disabled pop up block like they told me, I turned off the firewall and antivirus, called them, chatted online with 2 reps and was still not able to make the deposit. I am wondering if somebody is able to use their echeck deposit. The only reason why I opened a checking account with them was because I was going to be able to deposit it online instead of mailing it.
I love Ally bank and the customers services..
I was disappointed to discover that, at this time, Ally has terminated rebating ATM fees outside the US. This motivated me to find another online bank that does rebate ATM fees worldwide, as I travel in Europe. My activity with Ally is limited. I park some money in a MM, and use the ATM card when I travel. My customer service experience is mixed.
We have had a car loan with Ally for only 3 months now. The loan is to be automatically deducted from our checking account on the 15th of the month. The last 2 months it has been taken out on the 10th and 11th. We spoke with a manager who said that the change has been made, but will be sent to another department for confirmation and we should receive a call-back within 48hrs... 72hrs later still no call. We end up speaking to another manager who gives us the same run around, and we are to call back tomorrow for confirmation. How hard could this possibly be!!!
I feel like we are stuck and cannot pull the loan from them because we have a 0% interest.
these imbeciles denied my application for trying to open a checking account because my FIS score is not high enough. I wouldn't recommend this bank to anyone because of their ridiculous credit check system.
My CD is maturing this month and Ally sent me an email in advance offering a 25% bonus if I renew it with them. Last year when I renewed I was able to get a 5% bonus (although I had to request this on the phone). I will try again to get the 5% bonus. Anyone else get more than 25%?
I set up a bank to bank transfer at Ally.com at the same time I did with another online bank, using the schedule in the future option for the following day instead of the immediate now option. A few minutes later I caught a mathematical error I made when I was trying to re-balance my accounts among 4 online banks. I was able to cancel the first transfer set up at the other bank, but when I marked the pending transfer at Ally.com, the EDIT and DELETE buttons became inactive. I called Ally on the phone to find out what was wrong. I was informed once the transfer has been set up, it can not be changed 3 days prior to the start of the transfer.
I'm aware there is a cut off time on these types of transactions, but 3 days lead time to modifying transactions is ridiculous, give me a break! The other institutions let me cancel the transfer online with no problems. I'll stay with them as a customer simply due solely for their rates. It's not a good feeling to not be able to to control your own money!
These crooks will try to steal your money! Stay away at ALL Costs!!!!! 3 weeks no debit card meaning they have stolen my money making it unable for me to get to. Said if I tried to close acct. it's be another 2 weeks to get money! This is a huge fraudulent, scam company!!!!!!!!! Stay away!!!!!!!!!
For an internet only bank, their mobile app is terrible. When I can sign in without an error (errors on sign in are frequent for me), the app is very slow and won't let you back out with the back button on Android like all other apps. The few app updates I've received for it have just broken more things. Check deposit process is very slow both via phone and via computer scanner. The phone/chat support is not helpful for technical issues.
Never had any issues with the accounts, transfers, or money management, and the website is generally good, particularly the money transfer abilities. But because of the problems with the mobile app, I'm considering moving to another bank.