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Most Popular Ally Bank Accounts
| Account Type | APY | Account Name | Min | Max | |
|---|---|---|---|---|---|
| CD | 2.75% | High Yield 12-Month CD | - | - | Details » |
| Savings | 2.20% | Online Savings Account | - | - | Details » |
Ally Bank, a DepositAccounts.com advertiser, is a Utah-based Internet bank that focuses primarily on offering consumer savings products, including savings, checking, money market, certificate of deposit (CD), and IRA accounts. The bank also provides credit cards and auto financing services and tools on its lending side and helps customers determine whether to lease or buy a vehicle.
Ally Bank’s online savings account regularly offers one of the highest interest rates in the country as far as savings accounts go. It comes with no monthly maintenance fees and no minimum deposit to open. Deposits and withdrawals can be performed through Ally’s fast online ACH transfer service, and up to six withdrawals per month are allowed without a fee. Customers can also write cashier’s checks out of the account for free.
Ally’s Interest checking account also offers a highly competitive compounding interest rate for balances of $15,000 or more. It comes with a free MasterCard debit card, free checks, unlimited check writing, and free ATM fee reimbursements from any ATM nationwide. This checking account has no minimum initial deposit and no monthly maintenance fees.
The Money Market account offered by Ally is very similar to its online savings account, but with the added flexibility of several checking account functions like a debit card, free checks, and ATM fee reimbursements. The Money Market’s interest rate is typically quite competitive, and no minimum deposit or monthly balance requirements makes it a very attractive hybrid account.
CDs and IRA CDs are also available and come in term lengths ranging from 3 months to 5 years. Ally features a Raise Your Rate CD that affords one bump-up allowance if there is a rate increase during the life of the CD. Its No Penalty usually offers a rate similar to the savings account, and DepositAccounts.com has discussed the strategies behind opening one or the other.
Ally Bank online banking provides a sophisticated and secure platform on which its deposit accounts are managed. Ally eCheck Deposit offers an easy way to deposit checks via a smartphone camera, computer scanner, or free paid-postage envelopes. Ally also makes it easy to transfer funds between Ally accounts or between Ally and non-Ally accounts for free, and that includes transfers associated with paying bills as well. Mobile banking apps make it easy and convenient to accomplish all of the aforementioned tasks while on the go. Ally Bank has no physical branches, and therefore offers free ATM fee reimbursements for all of its accounts.
Ally Bank was originally established as GMAC Automotive Bank in 2004. In 2008, the bank suffered significant losses as a result of the bankruptcy of automakers GM and Chrysler. The bank has grown stronger in recent years, having repaid over $6 billion of its government debt as of May of 2013. Ally is headquartered in Midvale, Utah and services over 1 million opened deposit accounts through its online banking platform.
Related Posts
1/17 - Savings Account Rate Change
1/15 - Ally 1% Promotion
1/8 - Follow-Up With Details Ally Bank
1/8 - New Deal Emailed From Ally
12/19 - Ally Bank Raises Some CD Rates
12/19 - ALLY 11 Month No Penalty CD Now 2:30%
11/20 - No Penalty Certificate Deposit 2.25%
11/15 - Ally Bank Online Savings Account APY Increased
11/15 - Ally Raises Online Savings To 2.0%
11/10 - Ally 1% Payback Bonus Withdrawal Response
11/10 - Clarification Of The Rules For Getting The Ally 1% Bonus
11/9 - Ally Ups Rates On No Penalty CD, Raise Your Rate CDs & High Yield CDs
11/9 - 14-Month - Select CD* 2.75% APY
11/9 - Most All Of The Ally Cds Are Up: 1Yr. 2.65 & No Penalty 2.2
11/7 - Update Re Ally Bank 1% Bonus Promotion
10/17 - Earn Up To $1,000 Bonus with Ally Bank’s Payback Promotion
10/15 - Move 100K Into Ally For $1000 Payback Bonus
10/8 - National Online Bank Day - Do We Still Need Bank Branches?
10/5 - ALLY Online Savings Account Rate Hike.
9/21 - Ally Bank Ups 11-Month No Penalty CD Rate
9/21 - 11-Month No Penalty CD
8/31 - Small Rate Hike on the Online Savings Account at Ally Bank
8/31 - Ally Online Savings Account Bump.
8/24 - Ally Bank Hikes Rates on 12-, 18- and 36-Month High Yield CDs
8/23 - Ally Bank Increases Sign-Up Bonus For Cashback Credit Card
8/4 - Ally Bank Raises Online Savings To 1.80% Apy
8/3 - Ally Ups Rates of Savings Account, 11-Mo No Penalty CD and 60-Mo CD
8/3 - ALLY Raises APY On No-Penalty CD
7/20 - Ally Bank Increases Rates on 12-Month and 18-Month High Yield CDs
6/29 - Ally Ups Rates of Savings Account, 11-Mo No Penalty CD and Other CDs
6/29 - Online Savings 1.75% 11-Month No Penalty CD 1.85%
6/15 - Ally Bank Increases Rates on Online Savings Account and Six CDs
6/15 - Ally Raises Rate On Savings & Most Cds
5/11 - Ally Bank Hikes Rates on Online Savings Account and CDs
5/11 - Rate Hikes At Ally Bank
4/27 - Small Rate Hikes on Savings Account and Seven CDs at Ally Bank
4/27 - Rate Hikes At Ally
2/9 - Ally Bank Increases Online Savings Account Rate
2/9 - Ally Raised Savings Account Rate
2/9 - Ally Raised Savings Account Rate
2/2 - Ally Bank Boosts Rates on Several High Yield CDs
2/2 - Ally CD Now Up To 2.5%
1/24 - Ally Bank Ups Yields on Both Raise Your Rate CDs
1/23 - Ally Raise-Your-Rate Cds Up To 2% APY
1/19 - Ally Bank Hikes Rates - Savings Account, Money Market and Several CDs
1/19 - Ally Raised Savings Rate
1/9 - Ally Bank Raises 30-Month Select CD Rate
1/3 - Ally Bank Ends Hot CD Specials and Increases a Few CD Rates
1/3 - Ally Drops Rates - 1.6% APY No Penalty CD & HY 1.7% APY
1/1 - Ally Bank First To Reach 2% APY on 1-Year CD
12/8 - Ally Bank Increases 11-Month No Penalty CD Rates
12/5 - Ally Bank Ups Mid-Term and Long-Term CD Rates
11/2 - Ally Incommunicado portion Of Saturday 11-4-17.
10/27 - Ally Bank Hikes Rates on Savings Account and 1-Year CD
10/27 - Ally Bank Raises Rate On Online Savings & One Year CD
9/1 - Another Savings Account Rate Hike at Ally - MM Rate Up, But Still Low
9/1 - Ally Bank Hikes Rate On Both Online Savings & Money Market
6/30 - Ally Bank Ups Savings Account Rate to Highest Level Since 2010
6/30 - Ally Follows Other Top Online Banks By Raising Online Savings Rate.
6/22 - Ally "always-rewards" strategy
6/20 - Ally Bank Again Increases the Rate on Its 11-Month No Penalty CD
6/20 - No Penalty CD Rate Increase
6/12 - Ally Bank’s 11-Month No Penalty CD Rate at Highest Level Since 2010
6/10 - Ally 11 Mon No Penalty CD 1.35%. Quick Look.
5/15 - Ally Bank Increases Rates of 1-Year CD and 2-Year Raise Your Rate CD
5/12 - Ally Adds Brokerage and Investments Services To Its Website
4/21 - Ally Bank Ups Savings Account Rate to Highest Level Since 2011
4/21 - Online Savings Account Rate Increase
4/17 - Ally Bank Ups 5-Year CD Rate to Highest Level Since 2011
4/17 - Ally 5-Year CD, 2.25% APY
4/2 - Ally Bank Increases Rates on 9-Month CD and 11-Month No Penalty CD
4/1 - New CD Offer
3/24 - Ally Bank Increases Rates on 1-Year, 5-Year and Raise Your Rate CDs
3/6 - Ally Bank Raises Its 5-Year High Yield CD Rates
3/4 - Ally Raises Rates On 5-YR CDs
2/13 - Ally Bank Offers Limited-Time 13-Month Select CD
1/26 - Review Of Ally Bank’s 1-Day Bank-To-Bank Transfers
1/4 - Ally Crashes 11-Month Rate To 0.87%
12/17/16 - Large Rate Increase on Ally Bank’s 11-Month No Penalty CD
12/2/16 - Ally Delaying Implementation Of Faster ACH Transfers.
11/29/16 - Ally Bank Increases 18-Month and 3-Year CD Rates
10/24/16 - Ally Bank’s Deposit Agreement Changes - Next Day Transfers
10/21/16 - Fake Pennies Placed By Bank Worth $1,000 Each
10/10/16 - 15-MONTH SELECT CD 1.25%
10/10/16 - Ally Bank Offers Another Limited-Time Select CD
9/25/16 - Big Rate Changes At Ally? (Update: False Alarm)
9/5/16 - Ally Bank Adds Limited-Time 30-Month Select CD
9/3/16 - 30-Month CD Promotion
6/16/16 - Ally Bank’s New Cash Back Credit Card
5/20/16 - Ally Bank Cuts 5-Year CD Rate - There Are Now 3 Tiers
12/11/15 - Ally’s New Online Banking Helps with CD Management and Wire Transfers
11/30/15 - Ally Bank Increases CD Rates on Its New Rate Tiers
11/8/15 - Ally Rate Tiers
10/8/15 - Ally Bank Announces New Rate Tiers - Will We See Higher Rates?
10/6/15 - Upcoming Interest Changes For Ally Savings & Money Market Accounts
9/25/15 - Higher Rates at Ally Bank After It Announces Growth Milestone
7/8/15 - Ally Bank Changing ATM and Overdraft Policies
7/6/15 - Received By ALLY Snail Mail / $100 Bonus
2/9/15 - Ally Bank Tweaks Its New Online Banking Platform
1/20/15 - Ally Bank’s New Online Banking Website
1/2/15 - Review of Ally Bank’s IRA Bonus for New Deposits
12/24/14 - Ally Introduces Buyer's Choice Auto Financing Plan With Cadillac
12/22/14 - Ally Exits TARP - Effects on Ally Bank?
12/19/14 - Another Savings Account Rate Increase at Ally Bank
12/19/14 - Another 2-Year CD Rate Increase
12/12/14 - Ally Bank Increases Rates on Savings Account and Two CDs
12/12/14 - Ally Raises Savings Rate...
12/8/14 - Ally 3 Year CD Rate Hike.
11/4/14 - SEC Asks Ally For Subprime Loan Documents
9/18/14 - Ally Raises 5 Yr Cd Rate
9/5/14 - Ally Bank Raises Savings Account and 5-Year CD Rates
9/5/14 - Ally Raises Savings Rate
8/14/14 - Higher CD Rates at Ally Bank
8/13/14 - Ally Minor CD Rate Changes
8/12/14 - Bonus For Maturing CD's
7/22/14 - Ally Bank Giving Customers Industry-Leading Anti-Malware Software For Free
6/16/14 - Ally Bank Tops Pew “Checks & Balances” Study
6/12/14 - How This CD Tracker Tool May Benefit The Bank More Than You
5/14/14 - Are “Raise Your Rate” Type of CDs a Good Deal?
4/15/14 - Review of the New Ally Mobile Banking App
4/15/14 - Information From Ally Bank On The Heartbleed Online Bug
4/15/14 - US Bank To Acquire Document Custodian Business From Ally Bank
4/9/14 - Ally Financial Prices IPO At $25
3/4/14 - Ally Bank Launches "Discovering Retirement" Campaign
2/12/14 - Ally Weather Related Notice
2/11/14 - Ally's Loyalty Rewards
2/5/14 - Have You Used Ally's Mobile Banking? App For Windows Phone 8 Just Released
2/1/14 - Ally Drops Checking Account Rates
1/13/14 - $250 IRA Bonus at Ally Bank
1/10/14 - Ally Raised 12 Month CD
1/7/14 - Update on Ally Bank’s New Straight Talk Product Guides
12/27/13 - Ally Ordered To Pay $80 Million In Damages
12/14/13 - Ally 1 year CD Rate Decrease
12/13/13 - Ally Bank's CD Loyalty Rewards Program Changes for 2014
12/12/13 - Ally Loyalty Rewards Decrease Jan 18, 2014
12/10/13 - Government Ownership Of Ally Bank After Government Sold All General Motors Shares
12/9/13 - Ally Bank Introduces Concise and Standard Account Disclosures
11/26/13 - Ally Bank Offering Free Security Software to Customers
11/21/13 - Ally Financial Repays Treasury $5.9 Billion
11/13/13 - Ally MM/OSA Rate Decrease
10/29/13 - Bauer Financial Savings Account Rate For Ally Bank In Error?
10/28/13 - Review of Today’s Bump-Up CDs - Is the Bump-Up Feature Useful?
10/26/13 - Ally 11Mo No Penalty CD Rate Increase
10/25/13 - Ally Bank Increasing Early Withdrawal Penalty on New Long-Term CDs
9/25/13 - Ally Bank’s New Ad Campaign: Trying New Things And Nothing Hidden
9/9/13 - Ally 2 Year CD Rate Decrease
8/21/13 - Ally To Repay U.S. Taxpayers $5.95 Billion, To Sell Shares
7/25/13 - Ally Bank Publicizes Large Deposit Growth - Good News For Savers?
6/19/13 - Ally Scheduled Outage Sat, Sun, 6/22-23
6/14/13 - Raffle For 2 Tickets To See Paul Mccartney Live @ Fenway Park!!!
6/12/13 - Ally Bank’s Resource Guide for Establishing Trust Accounts
4/12/13 - Ally CD Renewal Goof
4/11/13 - Changes Are Coming To The Ally Online Banking Login Over The Next Few Weeks
4/1/13 - Deciding Between Ally Bank’s Savings Account And No-Penalty CD
3/31/13 - Is It Better To Open Allybank No-Penalty CD Or Savings Account At This Time?
3/18/13 - Cyprus Deposit Tax - Could It Ever Happen Here?
3/11/13 - Ally Bank Cuts Savings Account Rate To 0.84%
3/8/13 - Ally Financial Scores Poorly on Fed's Stress Test - Effect on Ally Bank?
3/8/13 - Ally Financial Inc. : Ally Financial Statement On Dodd-Frank Act Stress Test Results
3/7/13 - My Experience with Ally Bank's Loyalty Rewards Program for CD Renewals
2/20/13 - Ally Bank Issuing False Security Alerts!
2/20/13 - Ally Bank To Sell Business Lending Mortgage Operations
1/25/13 - Rate Down To .90%
1/23/13 - Ally Bank Online Account Access
12/21/12 - Ally Financial Repays $4.5 Billion In Government Debt
12/10/12 - Security Management
11/19/12 - Ally Bank Releases New Version of Mobile Banking with eCheck Deposit
11/17/12 - GM Close To Stake In Ally Foreign Operations
11/11/12 - Early Closure Of An Ally Bank CD
11/2/12 - 2nd Version Of Ally Mobile Banking Scheduled For Later This Month
11/1/12 - Ally Repays $2.9 Billion Of Government-Backed Debt
10/30/12 - Ally Bank's Loyalty Rewards Program FYI
10/26/12 - Allan Roth's Take On Ally Banks CD's Recent Policy Re-Wording
10/25/12 - Ally Bank Changes Deposit Agreement Covering CD Early Withdrawals
10/24/12 - Change To Ally Bank Deposit Agreement Terms For CD Early Withdrawal
10/23/12 - Ally Perks Deal - $5 Cash Back At Target.com
10/19/12 - Ally is Latest Bank to Be Hit by Mideast Cyberattack
10/16/12 - Ally Bank Commercial With Economist: Why They Have A Raise Your Rate CD
10/2/12 - Ally Perks Deal - $5 Back At Lowes
10/2/12 - Ally Bank's New Online CD Ladder Tool - CD Ladders Still Useful?
9/21/12 - Ally Bank Site Maintenance Scheduled For Saturday
8/31/12 - Ally Bank Increases Its Savings & Money Market Account Rate
8/21/12 - Differences Between Ally Bank's Savings and Money Market Accounts
8/15/12 - U.S. Treasury Appoints Two Directors To Ally Financial Board
8/8/12 - Cash Back Debit Card Deals At Ally Bank
7/9/12 - CDs Mailed At Maturity A Law?
6/25/12 - Are Your CDs/Investments Keeping Up With Inflation?
6/21/12 - Ally Yo-Yoing Their CD Rates?
5/30/12 - Scathing Commentary On Ally Financial's ResCap Bankruptcy
5/24/12 - Ally Quiz Part I: How Well Do You Know Your Deposit Options?
5/15/12 - Ally Financial Mortgage Unit's Bankruptcy and Its Impact to Ally Bank
5/14/12 - Ally Hopes To End Mortgage Woes With Rescap Bankruptcy
5/12/12 - Review Of Ally's Mobile Cash-Bank Finder & Call-Center-Hold-Time Meter
5/10/12 - Early Withdrawal Of An Ally Bank 5-Year CD
5/7/12 - Time Running Out For Ally Financial's Restructuring
5/1/12 - Ally Bank Launches Mobile Banking & Reports on Deposit Growth
4/25/12 - Ally Bank's Loyalty Rewards Program for CD Renewals
4/24/12 - Ally "Loyalty Rewards" CD Renewal Info
4/18/12 - Ally Bank's Electronic Consent Agreement
4/15/12 - Bankruptcy Ahead For Ally Financial Unit?
4/13/12 - ALLY Bank Scheduled Mantenance
3/28/12 - Feds Ready To Dump Ally Financial
3/17/12 - Analysis: Bank Stress Tests Highlight Ally Financial's Challenges
3/15/12 - Impact of Ally's Stress Test Failure on Ally Bank?
3/1/12 - Rate Drop At Ally
2/21/12 - Ally Bank Offers Free Anti-Malware Software
2/17/12 - Ally Bank Fails To Pay Interest To Thousands Of Its CD Holders
2/17/12 - Ally Financial Weighs Sale As IPO Looks Bleak
2/9/12 - Double Check Your Ally Bank CD Interest
1/15/12 - Happy "Birthday"
12/8/11 - My Experience with Ally Bank's No Penalty CD
12/8/11 - Unlimited ATM Fee Rebates Even In Casinos
11/4/11 - Ally Bank's Suitcase Of Money Commercial
11/4/11 - Oddity With Ally Bank's CD And Savings Account Rates
10/25/11 - Ally Bank's eCheck Deposit is Now Available to All Customers
10/24/11 - Echecks For Ally Bank
10/21/11 - Ally's eCheck Deposit Is Now Open To All
10/19/11 - Ally Bank Cut Rates Again
10/12/11 - Methods to Make Deposits to Your Internet Bank Accounts
9/7/11 - Ally Announces Plans For Mobile Banking
9/4/11 - Make Long Term CD Yields Table A Permanent Feature?
9/4/11 - Ally Bank 5-Year CD Rate Continues To Fall
8/25/11 - Ally Rates Down
8/18/11 - How Long Will The Ally Bank Site Be Down?
8/16/11 - Some Important Ally Bank CD Details
8/4/11 - Ally 5 Year CD Rate Decrease Tomorrow
7/22/11 - Update on Ally's Bank-to-Bank Transfers
7/21/11 - Ally Bank Wants To Poach ING Direct Customers
6/24/11 - Ally Bank's New Debit Card Cash Back Program: Ally Perks
6/23/11 - Ally Bank's Popmoney - New Service for Person-to-Person Transfers
6/21/11 - Ally Bank's New Raise Your Rate CD - Better Than the 5-Year CD?
6/21/11 - Ally Bank Races Ahead With IRAs, Ally Perks, eCheck Deposit
6/20/11 - Ally Bank's New IRA CDs and IRA Savings Account
6/19/11 - Ally Bank Launches Several New Accounts and Services
6/17/11 - Ally Bank Launches Ally Perks Debit Card Rewards Program
6/10/11 - Review of Ally Bank's eCheck Deposit
6/10/11 - Rate Jump At Ally Bank On Online Savings And Money Market Accounts. 1.00% to 1.04% APY :)
6/9/11 - Ally 5 Year CD Rate Change Alert
5/7/11 - Ally Drops Rate On "No Penalty" CD Once Again
4/14/11 - Ally Bank Starts Roll Out of eCheck Deposit for Scanning Checks at Home
3/31/11 - Ally Files With The SEC For An IPO Later This Year
3/21/11 - Money Market/On-Line Savings Rate Down
3/21/11 - The Best CD Rates and the Smallest Early Withdrawal Penalties
3/12/11 - Ally Drops Rate On "No Penalty" CD
2/22/11 - Review of Some Useful Features of Ally Bank CDs
2/17/11 - Ally Updates Telephone CD Rates One Day Ahead Of Time
2/11/11 - What Makes You Love Your Bank?
2/9/11 - How Ally Bank Has the Best CD Rates For Most CD Maturities
2/8/11 - Ally Bank's After-Penalty 5-Year CD Rates By Month
1/26/11 - Ally Financial Meets With Banks On IPO
1/26/11 - Less-Than-Ideal Features of Ally Bank's Transfer Service
12/15/10 - Applying For Ally Bank Account With A Credit Freeze
11/18/10 - Ally Drops Savings Rate Again
11/17/10 - Ally Rate Drop
11/4/10 - Ally Bank Cuts Savings And Money Market Account Rate To 1.20%
10/21/10 - Important Note about Adding Beneficiaries to Your Ally Bank Accounts
10/18/10 - Ally Bank's New Account Center with New System for Transferring Funds
10/4/10 - Ally Bank's Raise Your Rate CD vs. the 5-Year CD
10/3/10 - New Ally Bank Commercials: The Interview, The Dog And The Rock Band
9/29/10 - Rate Decrease
9/29/10 - Ally Bank to Offer IRA CDs - How It Might Compare to Discover Bank and PenFed
9/20/10 - Ally Bank's 5-Year CD as an Alternative to Reward Checking?
9/6/10 - What Can Happen If You Use Your Ally Checking Account As A Business Account
8/31/10 - Ally Bank Cuts Rate On Savings And Money Market Accounts
8/23/10 - Ally Bank's CD Renewal Bonus Update
8/23/10 - Ally's 5 Yr CD With Its 60 Day Early Withdrawal Penalty Advantage
8/17/10 - Excessive Withdrawal Fees from Bank of America, Citi, Wells Fargo and Ally
8/12/10 - Ally Bank Is Slowly Cutting Rates
8/5/10 - Sign Of Future Rate Cuts? Ally Bank's 5-Year Brokered Cds At 2.35%
7/13/10 - Ally Brand Name Will Completely Replace GMAC
7/2/10 - Update on Ally Bank's CD Deal and ACH Links
6/17/10 - Ally Bank Is Now Limiting the Number of ACH Links
6/14/10 - Calculating Your Yield On An Early Withdrawal From An Ally Bank 5-Year CD
6/11/10 - Ally Bank's 5-Year CD Yield Falls To 2.95%
6/3/10 - New Publicity of Ally Bank's Hot CD Deal
5/30/10 - Ally Bank's Ice Cream Commercial
5/24/10 - Ally Continues to Offer CD Renewal Bonuses
4/13/10 - I'm Looking For Some Feedback
4/3/10 - Tips on Opening an Ally Bank Certificate of Deposit
4/2/10 - Opening an Ally Bank CD
3/31/10 - CD Rate Cuts at Ally Bank
3/26/10 - No-Penalty CD Change at Ally Bank and an Update on the Early Withdrawal Penalty for Regular CDs
3/19/10 - Update on Ally Bank's CD Early Withdrawal Penalty
3/17/10 - Future of Ally Bank as GMAC Tries to Repay Its TARP Debt?
3/15/10 - Ally Bank Is Not JUST A Completely Incompetent Organisation
3/12/10 - I Funded My Ally 60
3/9/10 - Make Sure To Get Your Information In Writing
3/9/10 - Ally Bank's 5-Year CD and 2-Year Raise Your Rate CD - Which is Better?
3/7/10 - Ally Bank's 10-Day Rate Guarantee for CDs
3/3/10 - Ally Bank Cuts Rates on Savings, Money Market and CDs
3/1/10 - Update on Ally Bank: CD Policies and New Commercials
2/17/10 - Ally Bank Cuts Savings and Money Market Yield to 1.39% (was 1.44%)
2/9/10 - Ally Bank Cuts Savings and Money Market Rate
2/4/10 - Ally Bank's Parent, GMAC Financial, Posts Quarterly Loss
2/3/10 - Ally Bank Cuts 1-year CD Yield
1/28/10 - Ally Bank's New 2-Year Bump-Up CD - How It Compares to Other Flex CDs?
1/25/10 - Huge Change to Ally Bank CDs Will Benefit Savers
1/18/10 - Ally Bank's CD Loyalty Bonus Is Back
1/15/10 - Ally Bank Launches an Interest Checking Account
1/13/10 - Ally Bank Plans to Launch a Checking Account by End of This Week
1/10/10 - Update on Ally Bank's CD Renewal Bonus
1/5/10 - GMAC headed for $5 billion loss [CNN]
12/10/09 - Ally Bank News - Fee Changes and CD Renewal Bonus
12/8/09 - GMAC Bank Changes Name to Ally Bank - New 2.50% 9-Month No-Penalty CD
11/17/09 - Link Verification When Opening a New Account at Ally Bank
11/13/09 - Ally Bank Increases Rates - FDIC Restrictions Having an Effect?
11/2/09 - History of the Government's Intervention into GMAC and Ally Bank
10/30/09 - Ally Bank Cuts Rates - Linked to the GMAC Bailout?
10/27/09 - GMAC Reported To Have Agreed to Deposit Rate Limitations
7/10/09 - Another Rate-Cut Friday at Ally Bank
6/19/09 - Third Week in a Row of Rate Cuts at Ally Bank
6/19/09 - FDIC Starts to Crack Down on Ally Bank's Deposit Rates
6/12/09 - More Rate Cuts at Ally Bank
6/5/09 - Rate Cuts at Ally Bank
5/29/09 - American Bankers Association Urges FDIC To Force GMAC/Ally Bank to Cut Deposit Rates
5/1/09 - GMAC Bank Raises the 12-Month CD Rate
4/14/09 - Review of GMAC Bank and its 2-Year CD - Nationally Available
3/28/09 - Review of GMAC Bank and its 12-Month CD - Nationally Available
3/13/09 - GMAC Bank's Online Savings Account Yield Back Up to 3.75%
12/24/08 - GMAC Bank's New Online Savings Account
11/20/08 - GMAC Applies to Become Bank Holding Company and Seeks Bailout Funds
11/6/08 - GMAC Bank's Parent Posted Record Losses
7/18/08 - Higher CD Rates at GMAC Bank Plus News on the FDIC Waiver
4/25/08 - GMAC Bank's Long Term CD Rates Up - Interest Rate Increase Expectations?
2/29/08 - Opening a GMAC Bank Money Market Savings Account
6/8/07 - Big Jump in GMAC Bank's Long Term CD Rates - New Trend?
1/12/07 - GMAC Bank's Money Market Rate Drops - GMAC's Future?
10/6/06 - GMAC Bank Raises Money Market Savings to 5.25%
8/4/06 - Rates Drop at GMAC Bank - Have Rates Peaked?
6/30/06 - Slight Rise in GMAC Bank CD Rates
6/2/06 - Short Term CD Rates Up Slightly at GMAC Bank
5/20/06 - GMAC Bank CDs: New 5.20% 6-Mo, Opening Process
5/5/06 - GMAC's Long Term CD Rates Move Up Slightly
3/10/06 - GMAC Bumps Up Money Market Account and CD Rates
1/9/06 - Some Concerns with GMAC Bank
Exceptional Online Bank
While chasing rates and moving money around, I have encountered some really annoying and inept financial institutions. Among those where I have made a speedy exit are Discover, Alliant, and Goldman Sacs. In sharp contrast is Ally Bank, where I have had favorable experiences with customer service, ACH transfers, website organization, and per-day withdraw limitations. I don't put up with lousy service, unfair limitations, or having to jump through hoops. You don't always know what will happen when you sign up for a new account but you can always vote with your feet. Being very pleased with Ally Bank, I plan on staying.
Full Service On-Line Forms Transmission No Snail Mail
I am exceedingly happy with Ally bank because if you need to use a transfer form such as for an IRA, you can download the form, fill it out, scan it, and go into your account and e-mail the various forms you may need, even a Power of Attorney. They do not charge the Rinky Dink Fees of credit unions to open an account. One key feature that helps with any bank is to have a small corresponding savings account so that when an IRA CD matures, you can transfer it into the IRA money market until you make up your mind if you want to transfer to another bank, or wait to put it into another CD.
You Have To Search For The 14 Month CD
DepositAccounts lists a 14 month CD from Ally.
However, I found that I went to the Ally website it is not listed among the offered CDs.
One has to initiate the CD opening process and when you get to the point of selecting the Cd term you want, the 14 month Cd is listed there.
Sham Customer Service If They Make An Error
Beyond highest IRA Savings Account Rates, my first and only time requiring a call to their support team led to a complete disaster with my IRA accounts. Intent was to set up a Roth IRA Savings and fund by transferring the balance in my regular IRA Savings. Instead incompetent Ally customer service distributed all proceeds in my IRA savings. 20 days later (no interest for these missed days) by snail mail I received the distribution check, despite calling them to say stop the payment and please deposit to my Roth IRA. When calling to open a case file, upon waiting online for 40+ minutes, the call center hold message said "Thank you for calling Sprint". Clearly they staff their out-sourced call centers with inexperienced bank reps and share calls with mobile phone sales people. There was no follow-up of my case either by email confirmation or phone call. They could not stop payment on a check they erroneously distributed, told me I had to wait for the check, once received send back with VOID written on it. Not a chance ALLY! Since I have 60 days, Instead of sending their erroneous distribution back to them to fund the Roth I intended to, I am opening another account elsewhere. Most Horrific Online Bank Customer Service!
Data as of Q3 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57803 |
| Year Established | 2004 |
| Employees | 6846 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.36% |
| Return on Equity - YTD | 12.03% |
| Annual Interest Income | $4.93B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2018vs Q3 2017 | $151.1B$130.3B |
| Loans | Q3 2018vs Q3 2017 | $114.5B$96.16B |
| Deposits | Q3 2018vs Q3 2017 | $102.7B$91.83B |
| Equity Capital | Q3 2018vs Q3 2017 | $16.06B$16.38B |
| Loan Loss Allowance | Q3 2018vs Q3 2017 | $1.02B$760.0MM |
| Unbacked Noncurrent Loans | Q3 2018vs Q3 2017 | $628.0MM$345.0MM |
| Real Estate Owned | Q3 2018vs Q3 2017 | $11.0MM$11.0MM |
This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.
Ally 1% Promotion
Does anyone know where the bonus will be deposited? I have my new money in a No Penalty CD that cannot have funds added to it.
Finally, any fun plans for the bonus?
Follow-Up With Details Ally Bank
Special Promotional Offer Details
Promotional term available through 2/28/2019
No minimum deposit to open
Interest compounded daily
Automatically renews into a 12-month High Yield CD
Your deposits are insured by the FDIC up to the maximum allowed by law
Ally Ten Day Best Rate Guarantee
Early withdrawal penalty will apply
New Deal Emailed From Ally
When you took advantage of the Payback Time promotion, we promised you something better. Now let's take it a step further. For a limited time only, we're offering a 14-Month Select CD at a special rate. Don't miss it!
Did you know?
The funds you deposited into an eligible Ally Bank account as part of the Payback Time promotion can be used to fund your new 14-Month Select CD — at no impact to your bonus. Hurry though, this offer ends on February 28, 2019.
Ally Bank Raises Some CD Rates
12-Month 2.75%(2.65%)
14-Month 2.85%(2.75%)
No Penalty 2.15%(2.05%) 5,000+
2.30%(2.20%)25,000+
ALLY 11 Month No Penalty CD Now 2:30%
2:30% with $25,000 minimum
2:15% with $5,000 minimum
1:80% with less than $25,000
No Penalty Certificate Deposit 2.25%
Annual Percentage Yield With 11 Month Term
There are no maintenance fees for the No Penalty CD.
With our No Penalty CD, you will not be charged a penalty for early withdrawal. You can withdraw your full balance and interest any time after the first 6 days following the date you funded the account.
Ally Raises Online Savings To 2.0%
Online Savings now 2.00%(Was 1.90%)
Ally 1% Payback Bonus Withdrawal Response
Thank you for taking the time to contact Ally Bank. I apologize for the delay in the response to your email. We appreciate your business and I am happy to address your Payback promotion inquiry.
The promotion will pay a 1% cash bonus on new deposits (from outside Ally Bank), with a maximum bonus of $1,000.00. To qualify, customers must deposit a minimum of $1,000.00 to accounts with single or joint ownership between 10/08/2018 and 11/05/2018. The payout will be calculated based on the net balance increase, and funds must remain with Ally Bank until 1/15/2019. We cannot confirm the anticipated payout amount prior to that date.
You will need to keep the $100,000 in the account to receive the maximum bonus. You will have access and can withdraw any of the remaining funds in your other accounts.
We appreciate your business and want to thank you for choosing Ally Bank. If you have any additional questions, we are here for you 24 hours a day, seven days a week, by phone, Live Chat, or Secure Messaging. Our toll free number is 1-877-247-ALLY (2559) or you can visit us online at ally.com.
Thank you,
xxxx
Ally Bank Customer Care
Clarification Of The Rules For Getting The Ally 1% Bonus
At first, I was told that I could withdraw money from my old balance without affecting the bonus on the new money that I had added, as long as I had kept the new money in a separate account! This did not make any sense to me because I knew Ally would have to look at the total balance before and after adding new money and during the retention period. Otherwise, you could start with $100K of old funds, Add $100K of new funds and then withdraw the $100K of old funds and end up with the same balance for which you would now receive a $1K bonus!
So, I asked the CSR to verify this with a supervisor. The CSR came back after a few minutes, apologized for giving me incorrect information and told me that their back office is saying that all the balances (old money and new money) in all accounts will be added together as of November 5 and will be considered a "new net fund". Of this amount, only up to $100K of NEW money is eligible for the bonus. After November 5, any reductions in this "new net fund" will affect the bonus.
The CSR then quoted the exact verbiage "withdrawals during the retention period do not necessarily result in a forfeit of the cash bonus but may reduce the cash bonus amount." AND "any fluctuations during 11/5/18 to 1/15/19 in any eligible account during the retention period may impact the bonus amount."
So , in summary, it seems that if at any time during the retention period, you reduce your Total Balance to below what it was on November 5, you will reduce your bonus accordingly. Of course, Any amount that is added to the account after 11/5/2018 can be removed during the retention period without affecting the bonus.
I thought this is important for DA readers to know since I have seen some comments about being able to withdraw the old money and still receiving the full bonus which appear to be incorrect.
14-Month - Select CD* 2.75% APY
Tier
$0 - $4,999.99 2.71297% 2.75% 60 Days
$5,000.00 - $24,999.99 2.71297% 2.75% 60 Days
$25,000.00 and above 2.71297% 2.75% 60 Days
*Offer Start Date: 11/9/18, Offer Expiration: 1/16/19, Default Renewal Term is 12M CD
Most All Of The Ally Cds Are Up: 1Yr. 2.65 & No Penalty 2.2
Update Re Ally Bank 1% Bonus Promotion
"if you added new external funds to an account, then your projected cash bonus is being calculated. Look out for your bonus projection in the next couple weeks!"
The message goes on to state:
"Money must have been moved to a new or existing eligible Ally Bank account (Online Savings, Money Market, Interest Checking or CD account) by 10/31/2018."
The message concludes:
"View the full Terms & Conditions for more information." If you click on the link there, the Terms and Conditions state that you must "Deposit" funds by November 5, 2018.
One thing I didn't think of earlier. The difference in verbs might be significant: money being moved vs. funds being deposited. I don't know.
Always verify rates and promotions with the bank or credit union. We are not Ally Bank; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
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 | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.20% | - | - | IRA Online Savings Account | |
| 2.20% | - | - | Online Savings Account |
Ally Bank Money Market Rates
Ally Bank's Money Market account has no minimum balance requirement and no monthly service charges. Notable features include check writing (first 50 checks are free) and a 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 | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.00%* | $25k* | - | Money Market Account | ||
| OTHER TIERS: 0.90% → Up to $25k | |||||
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 even automatically refund ATM fees charged by other banks. Other features include free online bill pay and a 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 | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.60%* | $15k* | - | Interest Checking Account | ||
| OTHER TIERS: 0.10% → Up to $15k | |||||
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 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 fixed rate CD that gives you the option to raise the rate one time during the term to the current CD rate for that same term. All CDs have no minimum balance requirement, although interest rates may vary depending on the amount deposited. The early withdrawal penalties for each of the CDs are shown in the detailed tables below for each product. 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.
Ally Bank IRA Rates
Ally Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 200 West Civic Center Dr - Sandy, UT 84070