Written by Ali Cybulski, Published on 6/14/2024
Ally Bank, an online-only institution, offers an array of deposit and mortgage products and services. The Utah-based bank provides checking accounts, high-yield savings accounts, money market accounts and certificates of deposit (CDs). The subsidiary of digital financial services company Ally Financial Inc. also issues credit cards and auto loans and includes investment products in its lineup.
Ally’s Spending Account is its FDIC-insured checking account with no monthly maintenance fees and no overdraft fees. All accounts earn interest, but accounts with larger balances may earn a higher rate. You’ll get access to more than 55,000 fee-free Allpoint ATMs and reimbursement of up to $10 per statement cycle for fees charged at other ATMs nationwide.
The Ally Bank Savings Account offers an annual percentage yield (APY) of 4.20%, with no monthly maintenance fees or minimum balance requirements. The money market account also earns an APY of 4.20%, with no monthly fees or minimum balance requirements. Rates are accurate as of June 6, 2024.
Ally has a selection of three CDs. The high-yield CD comes in terms from three months to five years and pays an APY of 4.25%. The 11-month No Penalty CD has an APY of 4.00% and no minimum deposit to open, plus you can withdraw your full balance and interest any time after the first six days of funding the CD.
The Raise Your Rate CD comes in two- or four-year terms, with an APY of 3.75% and no minimum opening deposit required. If the bank’s rate goes up for your term and balance, you will have the opportunity to raise your rate once for the two-year CD or twice for the four-year CD.
Note that you can’t make cash deposits into checking, savings or money market accounts, but the bank allows remote check deposits, direct deposits, deposits by mail, online transfers and wire transfers.
You can access live support 24/7 via chat, email or phone at 877-247-2559.
Ally Bank pros and cons
Pros:
• Competitive rates on deposit accounts
• Large fee-free network of ATMs
• No monthly maintenance or overdraft fees on deposit accounts
Cons:
• No branch locations
• No cash deposits
• Limit of 10 withdrawals and transfers per statement cycle from your savings account; if you exceed the limit more than occasionally, the bank will close your account
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11/20 - Ally CD Rate Changes as of 11-20-2024
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11/1 - Ally CD Rate Changes as of 11-1-2024
10/25 - Ally Bank CD Rate Changes as of 10-25-2024
10/18 - Ally Lowers their 6-Month CD to 4.40% and 8-Month CD to 4.35%
10/9 - Ally Bank Rate Change as of 10-9-2024
10/4 - Ally Bank Rate Changes as of 10-4-2024
9/26 - Ally Bank Rate Changes as of 9-26-2024
9/13 - Ally Bank CD Rate Changes as of 9-13-2024
8/23 - Ally Bank CD Rates as of 8-23-2024
8/2 - Ally Bank CD Rates as of 8-2-2024
7/18 - Ally 5,00% APY 8 Month CD
6/19 - Ally Bank direct and brokered CD rates
4/26 - Ally Bank CD Rates as of 4-26-2024
4/19 - Savings APY Shaved Once Again - I Think
3/15 - Savings Rate Just Went Down
3/15 - Ally Bank CD Rates as of 3-15-2024
3/1 - Ally Bank CD Rates as of 3-1-2024
2/16 - Ally Bank CD Rates as of 2-16-2024
2/9 - Ally Bank CD Rates as of 2-9-2024
2/6 - Ally Bank CD Rates as of 2-6-2024
2/3 - Ally .05% CD Renewal
1/26 - Ally Bank CD Rates as of 1-26-2024
1/19 - Ally Bank CD Rates as of 1-19-2024
1/12 - Ally Bank CD Rates as of 1-12-2024
12/8 - Ally Bank CD Rates As Of 12-8-2023
11/3 - Ally Bank CD Rates As Of 11-3-2023
9/29 - Ally Bank CD Rate Changes For 9-29-2023
9/21 - Ally 8-Month 5.25% APY
9/15 - Ally Bank CD Rate Changes For 9-15-2023
8/24 - Ally Bank - $200 Bonus For Opening A New Spending (Formerly Interest Checking) Account
7/31 - They're Back With Another Rate Increase
7/21 - Ally Bank - Money Market Account Rate Is Increasing To 4.30% On 7/24/2023
7/21 - Ally No Penalty CD Rate Increase.
7/14 - Ally Bank CD Rate Changes For 7-14-2023
6/7 - Ally Bank CD Rate Changes For 6-7-2023
6/6 - Ally Savings Account Rate Increase To 4.00%
5/31 - "Ally Bank Is Renaming Your Account"
5/19 - Ally Bank CD Rate Changes For 5-19-2023
5/18 - Ally Increases Saving & Money Market Rates
4/14 - Ally Bank CD Rate Changes For 4-14-2023
4/10 - Ally 20 Mo CD At 5% Promo Extended
3/30 - Ally No Penalty CD Reduction (4.75% To 4.35%)
3/24 - Ally Increases 13-Month Select CD Rate To 4.75%
3/23 - Ally Boosts Savings To 3.75% & Money Market To 4%
3/23 - Ally Again Raises Money Market & Online Savings Rates To 4.00% & 3.75%
3/16 - Ally Bonus Payment
3/13 - Ally Hikes No Penalty CD To Rate-Leading Status Amid U.S. Banking Crisis
3/11 - Ally No Penalty CD Now At 4.75%, Previously At 4.00%
3/10 - Ally Bank CD Rate Changes For 3-10-2023
3/9 - Ally Raises Money Market & Savings To 3.80% & 3.60% Respectively
3/9 - Ally Savings Raised To 3.60% Yield
2/23 - Ally MMA And OSA Up To 3.50% Effective 2/24/23
2/17 - Ally Bank Increases 18-Month CD Rate to 5.00% APY
2/17 - Ally Bank CD Rate Changes For 2-17-2023
2/9 - Ally Bank 1% Bonus Offer - Bonus Posted 2/8
2/1 - Ally Bank CD Rate Changes For 2-1-2023
1/31 - Ally OSA Up To 3.40% From 3.30% On 2/1/2023
1/23 - 13 Month CD 4.60%
1/14 - Ally Bank Ups CD Rates, Notable Gains on 13-Month and 11-Month CDs
1/13 - Ally Bank CD Rate Changes For 1-13-2023
12/16 - Ally Bank CD Rate Changes As Of 12-15-2022
12/15 - Ally Bank - "Online Savings And Money Market Account Rates Are Increasing From 3.00% To 3.30%"
12/15 - Ally Savings & Money Market Rates Rise To 3.30% APY
11/22 - Ally Bank CD Rate Changes As Of 11-22-2022
11/21 - ALLY joins the 3% Club!!
11/17 - Increase In No Penalty 11-Mo CD
11/8 - Ally Bank - Savings & MM To 2.75% from 2.50%
11/2 - Ally Bank CD Rate Changes As Of 11-2-2022
11/1 - Ally Bank Increases Savings & Money Market Rate To 2.50% APY
10/28 - Just Saw These CD Rates
10/22 - Ally Bank Offers a New 1% Cash Bonus Promotion
10/19 - Ally Bumps OSA, MM Savings Account Rates To 2.35%
10/19 - Ally Savings & Money Market Rates Increase To 2.35% APY
10/15 - Ally Bank CD Rate Changes As Of 10-14-2022
10/12 - Up To $500 Bonus
10/12 - Ally Bank 1% Bonus Offer
10/4 - Ally Bumps OSA, MM Savings Account Rates To 2.25%
9/23 - Ally Bank CD Rate Changes As Of 9-22-2022
9/22 - Ally Bank - Your Online Savings and Money Market Account rates are increasing to 2.10%
9/16 - Ally Bank CD Rate Changes As Of 9-16-2022
9/2 - Ally Bank CD Rates As Of 9-1-2022
9/1 - Ally Savings & Money Market Rates Increase To 2.0% APY
8/25 - Online Savings And Money Market Account Rates Are Increasing From 1.75% To 1.85%
8/25 - Ally OSA Going Up To 1.85%
8/17 - Ally Bank CD Rate Changes For 8-17-2022
8/16 - Ally OSA Up To 1.75%
8/5 - Ally Bank CD Rate Changes For 8-4-2022
8/4 - Ally Bumps OSA, MM Savings Account Rates To 1.60%
7/29 - Ally Bank CD Rate Changes For 7-28-2022
7/28 - Ally Bank Savings And Money Market Yields To Be Increased To 1.40%
7/14 - Ally Bank To Raise Savings And Money Market Yields To 1.25%, Effective July 15
7/8 - Ally Bank CD Rate Changes For 7-7-2022
7/7 - Ally Bumps OSA, MM Savings Account Rates To 1.15%
7/1 - Ally Now Offers A 13-Month Select CD @ 2.00%
6/27 - Ally Bank Increases Rates of Online Savings Account and Five CDs
6/24 - Ally Bank CD Rate Changes For 6-24-2022
6/23 - Ally Increases Savings & Money Market To 1.0%
6/10 - Ally CD APY Rate Changes Fri 6-10-22
6/10 - Ally Bank CD Rate Changes For 6-10-2022
6/9 - Ally To Raise Savings And Money Markets Yields To 0.90%
6/7 - 20 Month CD
5/28 - Ally Bank Increases Rates of Online Savings Account and Seven CDs
5/27 - ALLY CD Rate Changes Fri 5-27-22
5/26 - Ally Bumps OSA, MM Savings Account Rates
5/14 - Ally Bank Hikes CD Rates Again, 20-Month Select CD Rises to New High
5/14 - Ally CD APY Rate Changes Fri 5-13-22
5/13 - 11 Month No Penalty Is At .70% Today
5/10 - Ally Bumps OSA & MM APY Account Rates (Still Trailing)
5/6 - Ally CD Rates Rise
4/22 - Ally Special 20 Month 1.50%
4/4 - Ally Bank Hikes CD Rates Again, 14- and 18-Month CDs Are Near Rate Leaders
4/2 - Ally Raises CD Rates On 18- Month Term, No Penalty And Saving Rates Unchanged
3/29 - Ally Bank Hikes CD Rates, 14- and 18-Month CDs Are Most Competitive
3/1 - Ally Raises CD Rates On 1-5 Year And Raise Your Rate, No Penalty And Saving Rates Unchanged
5/10/21 - Online Banks and Same-Day Wire Transfers - My Experience at Ally
3/22/21 - Ally Bank Lowers Yield On Several Cds
2/8/21 - 15-Month Select CD
12/11/20 - Ally Bank No-Penalty CD Yield Drops To 0.50%
12/10/20 - Ally Savings Rate Reduced To 0.50%
11/9/20 - Ally Bank’s Removal of Early Withdrawals in Online CD Management
10/20/20 - Ally Removes Online Early Withdrawal From No-Penalty Cds
10/19/20 - Q3 Earnings Report Offers Insights for Ally Bank’s Deposit Customers
10/12/20 - National Online Bank Day - Effects of Falling Rates
9/24/20 - Ally Savings From 0.80% To 0.60%
8/14/20 - Online Savings Account Rates Falling to All-Time Lows - Alternatives?
8/13/20 - Ally Savings Rate Drops To 0.80%
8/13/20 - And There Goes Ally, Savings To .80%
8/13/20 - Ally Down To 0.80%
8/12/20 - Ally Bank No Penalty CD Falls To 0.75%
7/29/20 - CASH BONUS PAID
7/25/20 - Ally Drops No-Penalty CD To 0.90
7/7/20 - Ally's Online Savings APY Cut To 1.00%
7/1/20 - Ally Bank 1% Bonus Retention Period Has Ended
6/17/20 - Rate Drop Any Minute Now
6/12/20 - Ally Bank No Penalty CD APY Drops To 1.05%
6/11/20 - Ally Online Savings Account APY Will Drop To 1.10% On 6/12/20
5/13/20 - Review of Ally Bank’s Savings Accounts and CD Rates
5/11/20 - Ally Bank To Lower Yields On Savings And Money Market Accounts, Effective 5/12/20
4/25/20 - Ally Bank No-Penalty CD Yields
3/19/20 - Noteworthy Features of Ally’s Pandemic Relief Package
3/16/20 - Ally Bank 13-Month Select CD Promo Still Available
3/13/20 - Ally Bank’s New 1% Cash Bonus Promotion
3/13/20 - Ally Cuts 11 Month No Penalty CD And 13 Month Special CD
3/6/20 - Ally Bank Cuts CD Rates, But There Remains Two Good Deals
3/6/20 - Ally Bank Lowers Its CDs for 12 Months And Over
3/2/20 - Ally Bank’s Competitive 13-Month Select CD
2/21/20 - Beneficial Tax Feature of Ally Bank’s 11-Month No Penalty CD
2/6/20 - Ally Raises 11-Month No Penalty CD For $5K And $25K Minimum
2/4/20 - Ally 13 Month CD Special 2.1%
1/2/20 - Ally ACH Transfer Speed
12/20/19 - Ally Decreases The APY On The Online Savings Account To 1.60%
11/12/19 - Ally Bank Drops Savings Account Rate Again To 1.70% On 11/13/19
11/12/19 - How Ally Checking Account Customers Can Maximize Interest
10/9/19 - Another Rate Cut: Savings To 1.8%
9/6/19 - More Ally Bank Rate Cuts
8/5/19 - Online Savings Rate Cut To 1.9%
7/26/19 - Ally 5 Yr Rate Down 10 Bps To 2.65%, 3 Yr Down 5Bps For All 3 Tiers
7/12/19 - Ally Drops 5 Year CD Rate By Another 10 Bps To 2.75%
6/25/19 - Ally Bank Cuts Online Savings Account Rate
6/25/19 - Ally Bank Preemptively Cuts Rate On Their Online Savings To 2.10%
6/14/19 - More CD Rate Cuts at Ally Bank and at Other Online Banks
6/14/19 - Drops 12-Month High Yield CD To 2.55 % From 2.60 %
5/29/19 - Ally Bank Drops 12-Month CD Rate
5/3/19 - Ally Bank Rate Change
3/29/19 - Ally Bank Cuts CD Rates - Will Other Banks Follow?
3/25/19 - Ally Bank Offers Another Select CD - EXPIRED
3/22/19 - New Ally 15 Month CD At 2.80% Came Out Today
2/5/19 - 1% Promotion Paid.
1/17/19 - Ally Ups Savings Account Rate & Emails Customers of Payback Earnings
1/17/19 - Savings Account Rate Change
1/15/19 - Ally 1% Promotion
1/8/19 - Follow-Up With Details Ally Bank
1/8/19 - New Deal Emailed From Ally
12/19/18 - Ally Bank Ups Rates on 11-Month, 12-Month and 14-Month CDs
12/19/18 - Ally Bank Raises Some CD Rates
12/19/18 - ALLY 11 Month No Penalty CD Now 2:30%
11/20/18 - No Penalty Certificate Deposit 2.25%
11/15/18 - Ally Bank Online Savings Account APY Increased
11/15/18 - Ally Raises Online Savings To 2.0%
11/10/18 - Ally 1% Payback Bonus Withdrawal Response
11/10/18 - Clarification Of The Rules For Getting The Ally 1% Bonus
11/9/18 - Ally Ups Rates On No Penalty CD, Raise Your Rate CDs & High Yield CDs
11/9/18 - 14-Month - Select CD* 2.75% APY
11/9/18 - Most All Of The Ally Cds Are Up: 1Yr. 2.65 & No Penalty 2.2
11/7/18 - Update Re Ally Bank 1% Bonus Promotion
10/17/18 - Earn Up To $1,000 Bonus with Ally Bank’s Payback Promotion
10/15/18 - Move 100K Into Ally For $1000 Payback Bonus
10/8/18 - National Online Bank Day - Do We Still Need Bank Branches?
10/5/18 - ALLY Online Savings Account Rate Hike.
9/21/18 - Ally Bank Ups 11-Month No Penalty CD Rate
9/21/18 - 11-Month No Penalty CD
8/31/18 - Small Rate Hike on the Online Savings Account at Ally Bank
8/31/18 - Ally Online Savings Account Bump.
8/24/18 - Ally Bank Hikes Rates on 12-, 18- and 36-Month High Yield CDs
8/4/18 - Ally Bank Raises Online Savings To 1.80% Apy
8/3/18 - Ally Ups Rates of Savings Account, 11-Mo No Penalty CD and 60-Mo CD
8/3/18 - ALLY Raises APY On No-Penalty CD
7/20/18 - Ally Bank Increases Rates on 12-Month and 18-Month High Yield CDs
6/29/18 - Ally Ups Rates of Savings Account, 11-Mo No Penalty CD and Other CDs
6/29/18 - Online Savings 1.75% 11-Month No Penalty CD 1.85%
6/15/18 - Ally Bank Increases Rates on Online Savings Account and Six CDs
6/15/18 - Ally Raises Rate On Savings & Most Cds
5/11/18 - Ally Bank Hikes Rates on Online Savings Account and CDs
5/11/18 - Rate Hikes At Ally Bank
4/27/18 - Small Rate Hikes on Savings Account and Seven CDs at Ally Bank
4/27/18 - Rate Hikes At Ally
2/9/18 - Ally Bank Increases Online Savings Account Rate
2/9/18 - Ally Raised Savings Account Rate
2/9/18 - Ally Raised Savings Account Rate
2/2/18 - Ally Bank Boosts Rates on Several High Yield CDs
2/2/18 - Ally CD Now Up To 2.5%
1/24/18 - Ally Bank Ups Yields on Both Raise Your Rate CDs
1/23/18 - Ally Raise-Your-Rate Cds Up To 2% APY
1/19/18 - Ally Bank Hikes Rates - Savings Account, Money Market and Several CDs
1/19/18 - Ally Raised Savings Rate
1/9/18 - Ally Bank Raises 30-Month Select CD Rate
1/3/18 - Ally Bank Ends Hot CD Specials and Increases a Few CD Rates
1/3/18 - Ally Drops Rates - 1.6% APY No Penalty CD & HY 1.7% APY
1/1/18 - Ally Bank First To Reach 2% APY on 1-Year CD
12/19/17 - Ally Increases CD Rates Again
12/8/17 - Ally Bank Increases 11-Month No Penalty CD Rates
12/5/17 - Ally Bank Ups Mid-Term and Long-Term CD Rates
11/2/17 - Ally Incommunicado portion Of Saturday 11-4-17.
10/27/17 - Ally Bank Hikes Rates on Savings Account and 1-Year CD
10/27/17 - Ally Bank Raises Rate On Online Savings & One Year CD
9/1/17 - Another Savings Account Rate Hike at Ally - MM Rate Up, But Still Low
9/1/17 - Ally Bank Hikes Rate On Both Online Savings & Money Market
6/30/17 - Ally Bank Ups Savings Account Rate to Highest Level Since 2010
6/30/17 - Ally Follows Other Top Online Banks By Raising Online Savings Rate.
6/22/17 - Ally "always-rewards" strategy
6/20/17 - Ally Bank Again Increases the Rate on Its 11-Month No Penalty CD
6/20/17 - No Penalty CD Rate Increase
6/12/17 - Ally Bank’s 11-Month No Penalty CD Rate at Highest Level Since 2010
6/10/17 - Ally 11 Mon No Penalty CD 1.35%. Quick Look.
5/15/17 - Ally Bank Increases Rates of 1-Year CD and 2-Year Raise Your Rate CD
5/12/17 - Ally Adds Brokerage and Investments Services To Its Website
4/21/17 - Ally Bank Ups Savings Account Rate to Highest Level Since 2011
4/21/17 - Online Savings Account Rate Increase
4/17/17 - Ally Bank Ups 5-Year CD Rate to Highest Level Since 2011
4/17/17 - Ally 5-Year CD, 2.25% APY
4/2/17 - Ally Bank Increases Rates on 9-Month CD and 11-Month No Penalty CD
4/1/17 - New CD Offer
3/24/17 - Ally Bank Increases Rates on 1-Year, 5-Year and Raise Your Rate CDs
3/6/17 - Ally Bank Raises Its 5-Year High Yield CD Rates
3/4/17 - Ally Raises Rates On 5-YR CDs
2/13/17 - Ally Bank Offers Limited-Time 13-Month Select CD
1/4/17 - Ally Crashes 11-Month Rate To 0.87%
12/17/16 - Ally 11 Month No-Penalty CD Bump. Quick Look.
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 - 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
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
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
4/9/14 - Ally Financial Prices IPO At $25
2/12/14 - Ally Weather Related Notice
2/11/14 - Ally's Loyalty Rewards
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
11/13/13 - Ally MM/OSA Rate Decrease
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
9/9/13 - Ally 2 Year CD Rate Decrease
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
4/1/13 - Deciding Between Ally Bank’s Savings Account And No-Penalty CD
3/18/13 - Cyprus Deposit Tax - Could It Ever Happen Here?
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!
1/25/13 - Rate Down To .90%
1/23/13 - Ally Bank Online Account Access
12/27/12 - Replacing Savings Accounts with an Interest Checking Account
12/10/12 - Security Management
11/19/12 - Ally Bank Releases New Version of Mobile Banking with eCheck Deposit
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
10/19/12 - Ally is Latest Bank to Be Hit by Mideast Cyberattack
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
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?
5/15/12 - Ally Financial Mortgage Unit's Bankruptcy and Its Impact to Ally Bank
5/8/12 - 5 Top Long-Term CD Rates After Early Withdrawal Penalties
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
4/15/12 - Bankruptcy Ahead For Ally Financial Unit?
4/13/12 - ALLY Bank Scheduled Mantenance
3/28/12 - Feds Ready To Dump Ally Financial
3/15/12 - 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
2/9/12 - Double Check Your Ally Bank CD Interest
12/8/11 - My Experience with Ally Bank's No Penalty CD
12/6/11 - Comparing the Best CD Rates After Early Withdrawal Penalties
10/25/11 - Ally Bank's eCheck Deposit is Now Available to All Customers
10/24/11 - Echecks For Ally Bank
10/19/11 - Ally Bank Cut Rates Again
10/12/11 - Methods to Make Deposits to Your Internet Bank Accounts
9/4/11 - Make Long Term CD Yields Table A Permanent Feature?
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
3/21/11 - 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
2/16/11 - Best Internet Checking Accounts That Offer Paper Checks
2/11/11 - What Makes You Love Your Bank?
2/9/11 - How Ally Bank Has the Best CD Rates For Most CD Maturities
1/26/11 - Less-Than-Ideal Features of Ally Bank's Transfer Service
1/13/11 - Best Checking Accounts with Focus on Features Rather Than Rates
11/18/10 - Ally Drops Savings Rate Again
11/17/10 - Ally Rate Drop
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
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?
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
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
4/13/10 - I'm Looking For Some Feedback
4/3/10 - Tips on Opening an Ally Bank Certificate of Deposit
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?
3/1/10 - Update on Ally Bank: CD Policies and New Commercials
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
1/15/10 - 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
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
Ally Is The Most Dependable Of The Online Banks
I opened an account with Ally WAY back in like 2011 or so, it was just after the old GMAC went belly up and reformed under the name Ally. Been with them ever since, they have never made a mistake and I have them autopay all of my credit cards and utility bills, have never let me down. They are NOT a good bank for interest rates so I keep my main money elsewhere and transmit to Ally what I need for a specified time. Ally was actually kind of the start of the online banks and has remained reliable ever since.
Actually An Ally
They live up to their name. Features on checking accounts like $100 overdraft protection, ATM fee reimbursement, and free checks make it worth it. The months after I filed bankruptcy I ran out of money a lot. Ally never punished me for it with fees. Recommended.
Ally Rendered My Active Account Dormant Without Warning
Received snail mail from Ally today dated 10 days ago. Friendly advice that “they hadn’t heard from me in a while”, cited five ways to stay in touch, including logging into ally.com, which I already do at least monthly. No mention of rendering my account dormant or otherwise locking it. I haven’t moved money into or out of the account in probably over a year. I immediately called Ally per the number listed as another of the 5 friendly ways. Call was quickly answered by a knowledgeable young lady, sounded like the call hadn’t departed the continent for a foreign call center. Ran through ID confirmation protocol, then discovered a couple of frustrating contradictions to the contents of the snail mail. Ally’s computer is set up to dormant the account if money doesn’t move in and out of the account at intervals, the length of which the agent could not discover. Logging into the website isn’t adequate contact, unlike all of my other financial institutions. And by the time their snail mail reached my mailbox, the account was dormant and locked. I can log in, see my balance and confirm my linked account is still linked, but no commands are allowed. Message center: nothing, no warning, no notification of status change. So, from my standpoint, Ally has frozen my account, without warning, for nothing. They email me promos all the time, didn’t email their actual criteria to keep account active. The agent predicts two to three business days for the back office to free the dollars. Not happy in the meantime.
Addendum: Account reactivated after one business day, controls seem to work. Received a thoughtful-toned on-website message apologizing and explaining that intended protocols didn't happen, surprise dormancy was unintended. Apology accepted.
Just The Basics, Fine. Customer Service, Not So Much
I WAS a long-time customer because I used basic services and rates were always pretty good. But here’s what happens when you want to use something more than checking and saving. I initiated a routine wire transfer for $8k a day before it needed to be sent. This was for a legitimate service rendered to me by a contractor because I am remodeling my kitchen. Ally demands a “verification,” and sent me an email telling me to call a number to do this. I tried for three hours to get connected to a human being. No one answered the phone at the number in the email. I finally called the general "customer service" line and that person managed to get through to the correct dept - after both of us were on hold for close to another hour - and this person grilled me on why I was transferring the money, how long did I know the person I was sending money to, had I met this person, what was the color of his hair,etc. It seems I need Ally's permission to remodel my kitchen, and I was told I needed to provide a list of the tradesmen involved if I wanted to send payments via wire. (I'm wondering if Ally will send me a list of credentialed electricians in my area , since I need some rewiring done, and the bank seems to gather this information from its customers?) The point is, Ally first of all doesn't have the staff required to provide even reasonably prompt service, and then apparently needs to approve how you spend your own money - and will charge you $20 for the privilege. In the course of trying to effect a simple wire transfer, I was transferred to several people and then disconnected from them (and they do not call back to continue the call, so you get to start all over again with someone else and answer the same “verification” questions that you just answered 10 minutes before). And you will be put on hold while they “check the account” and you can listen to their Muzak for another half-hour or so. And I was told by the final agent that this process will happen every time I want to do a wire transaction – and to prepare myself for long holds and inferior service. That’s Ally’s commitment to “best banking.” So, if you want competitive rates for your deposit accounts, consider Ally. But if you’ll need additional financial services, find another provider. And avoid the anguish of Ally’s “customer service.”
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57803 |
| Year Established | 2004 |
| Employees | 9952 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.03% |
| Return on Equity - YTD | 13.54% |
| Annual Interest Income | $6.56B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $182B$187.4B |
| Loans | Q2 2024vs Q2 2023 | $135.3B$134.7B |
| Deposits | Q2 2024vs Q2 2023 | $155.6B$158.9B |
| Equity Capital | Q2 2024vs Q2 2023 | $14.18B$13.96B |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $3.59B$3.8B |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $1.21B$1.4B |
| Real Estate Owned | Q2 2024vs Q2 2023 | $1,000K$1,000K |