Is Ally Bank the right choice for you? How does it compare to other banks? Here’s a review of Ally Bank, including its featuresand benefits, along with a comparison to some of the top banks in the country.
If you’re looking for a new bank, there are so many options out there. How do you know which one is the best for you? It can be tough to decide which bank is right for you. Each one has its own set of pros and cons, and it can be hard to figure out which ones matter most to you.
Ally Bank is one of the most popular online banks in the United States. It offers high-interest rates on deposits, 24/7 customer service, and no hidden fees. But how does it compare to other banks?
Let’s take a closer look at Ally Bank and see how it stacks up against some top competitors.
Things to know about Ally Bank
Ally Bank is a popular online bank in the United States. It was founded in 2000, and it is currently headquartered in Midtown Manhattan, New York City. Ally Bank is a direct subsidiary of Ally Financial Inc., a Fortune 500 company.
Ally Financial Inc. used to be known as GMAC Inc. It was founded in 1919, and it was originally known as General Motors Acceptance Corporation. GMAC was the finance arm of General Motors. In 2006, GMAC became a standalone company, and it began to offer its products and services to the general public.
In 2009, GMAC changed its name to Ally Financial, and it used the new name to distance itself from its former parent company.
Ally Bank is FDIC insured, and its deposits are insured up to $250,000 per depositor. It is also a member of Equal Housing Lender, NMLS ID 181005.
Ally also offers a wide variety of products, including checking, savings, money market accounts, certificates of deposit, IRAs, and home mortgages.
1. Ally bank savings account.
Ally Bank is a great option if you’re looking for a high-yield savings account. It offers a 0.50% APY on all balances, which is one of the highest rates in the country. Compare this to the average savings account rate of 0.06%, which means you would earn over 9 times more interest with Ally Bank.
In addition, Ally has no hidden fees and no minimum balance requirement, but they charge Rs.$10 for every additional transaction after 6 transactions per statement period. However, after the outbreaking of COVID-19, the bank temporarily refunds this fee.
But Ally isn’t just about high rates. It also provides excellent customer service and access to nearly 30,000 surcharge-free ATMs across the country, making it easy for you to meet your savings goals no matter where life might take you.
|Ally online savings account|
|Account Name||Minimum Deposit||Monthly Fee||APY( Interest rate)|
Ally Bank offers Savings Buckets and Savings Boosters. These are ways to help you automatically save money every month so that you never have to worry about losing your savings in fees or interest rates.
Savings Buckets allow you to set up automatic monthly transfers into your savings account in increments, which can be great for helping you meet your savings goals. You can create save into 10 different buckets and name each of them.
Savings Boosters are tools that help you automate and tweak your savings account to make saving easier and more rewarding. These include Date Night Fund, Vacation Fund, Car Fund, Emergency Fund, Right-Size Your Life Fund, and House Fund, among others. This makes Ally one of the best online savings.
Now, let’s check the pros and cons of having an Ally bank Saving Account.
- Has no hidden fees: All checking accounts have no monthly service fees, and you won’t have to worry about being charged a fee for using services that other banks might charge a fee for.
- Great online tools: Ally’s website is easy-to-use and intuitive. In addition, its mobile app is compatible with Apple, Android, and Windows devices.
- It has a high APY: Ally’s savings account rate is one of the best in the country, and it easily outpaces other banks.
- Customer service is available 24/7: You can always get help with your accounts when you need it.
- There are no minimum deposit requirements: Many banks require a minimum deposit to open an account, but there is no such requirement with Ally Bank.
- Ally doesn’t have a physical branch network: Unlike other banks, Ally doesn’t have a large brick-and-mortar branch network. This means you’ll need to keep track of your account balances and be able to manage all transactions online or through the mobile app. Of course, this is an issue for people who are not comfortable managing their finances online.
- There are transaction limits per statement period: Ally Bank has a maximum of 6 transactions per statement period.
2. Checking account
Ally offers a single checking account with competitive interest rates and no monthly maintenance fee. The account that will best suit your needs depends on your circumstances.
For example, suppose you’re looking for a checking account with no monthly service fees. In that case, the Ally interest checking account is a great option. This account pays interest on balances of $0.10 annual percentage yield (APY) or more, and there are no minimum balance requirements. However, if you exceed six transactions per statement period, you’ll be charged Rs.$10 per transaction.
Ally is part of the Allpoint Network, which means you can use your ATM card to withdraw cash at nearly surcharge-free ATMs across the country.
You will also receive free basic checks, a free debit card, and bill payment services for free. Customers who use an Allpoint ATM are never charged any fees. Ally will reimburse you $10 per statement cycle if you go outside of the network of 55,000 ATMs.
|Ally Bank Checking Accounts|
|Account Name||Minimum Deposit||Monthly Fee||APY( Interest rate)|
|Ally Interest Checking Account||$0||$0||0.10% if
Deposit balances is less than $15,000
Deposit balances is more than $15,000
Pros & Cons of choosing checking account of Ally Bank:
- No monthly service fees: With the interest checking account, you’ll never have to worry about being charged a monthly fee for your checking account. You also won’t have to worry about maintaining a minimum balance or transferring a certain amount of money into your account every month. However, you will be charged $10 every time you make a transaction after your 6th transaction in a statement period.
- No minimum deposit requirement: You don’t have to worry about depositing a minimum amount of money when opening an account with Ally Bank.
- Customer support is available 24/7: Ally’s customer service representatives are available around the clock, so you can get your questions answered whenever you need to.
- There are No overdraft fees: Overdraft fees are a common feature of most checking accounts. However, Ally Bank does not charge overdraft fees.
- You can earn interest on any daily balance: An interest checking account allows you to earn a competitive APY on any amount of money in your account, not just a minimum balance.
- There is no physical branch network: If you enjoy banking at brick-and-mortar locations, Ally might not be the best fit for you because it doesn’t have a large network of physical branches.
- You have to be comfortable managing your finances online: Since Ally doesn’t have a physical branch network, you’ll need to manage all of your accounts and account balances through the bank’s website or mobile app. Of course, this isn’t an issue if you are comfortable managing your money online.
- You can not deposit cash: Ally doesn’t have a physical branch network, so you can not deposit cash into your account. This is an issue if you’re looking for an account that allows you to deposit cash.
How to Ally Bank offers a low Fee checking Account?
Ally Bank offers a checking account with low fees and a high APY. This is because Ally doesn’t have any physical branches to pass the savings to customers in the form of lower fees. Opening and having a branch is one of the key cost factors for banks, so Ally tries to limit these costs as much as possible.
Ally eCheck Deposit feature.
Ally eCheck Deposit feature makes it easy for you to deposit checks into your account without having to go to a physical bank branch. You can use the feature on your computer or mobile device.
To use the eCheck Deposit feature, you’ll need first to download the Ally Mobile Banking app and then sign in. Once you’re logged in, snap a photo of your endorsed check using the app.
You may also use the eCheck Deposit option on your computer by going to allybank.com and signing in. To upload an image of your endorsed check, you’ll need access to a scanner.
However, you need to comply with the submission guidelines of eCheck Deposit: These are below.
- The check should be dated within the last 180 days.
- Payable to you
- Drawn on a U.S. Bank in U.S. dollars
- Endorsed on the back with “For Deposit Only” and the signatures of all payees
You can check all other Deposit guidelines on the official website of Ally .
You can also deposit checks by mail to: Ally Bank, P.O. Box 13625, Philadelphia, PA 19101-3625. Ensure that the backs of cheques are properly signed and stamped with “For Deposit Only” and the signatures of all payees.
The eCheck Deposit feature is a great way to quickly and easily deposit checks into your account without having to go into a branch.
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3. Money Market Accounts
Ally Bank also offers money market accounts, which can be a great option if you’re looking for a higher yield than what you can get with a checking account. Ally money market account allow you to earn a competitive APY on your deposited funds.
One thing to note about Ally’s money market accounts is that you do not have to maintain a certain balance in your account to avoid fees. This makes it easier for you to manage your money.
Ally Money Market Accounts offer an APY of 0.50% on all balance tiers, which is higher than the national average and its comparison banks, but it’s not the highest rate in the industry.
|Money Market Accounts|
|Account Name||Minimum Deposit||Monthly Fee||APY( Interest rate)|
|Money Market Accounts||$0||$0||0.50%|
Let’s Check the Pros and Cons of an Ally Bank Money Market Account:
- Competitive APY: Ally offers one of the highest yields in the checking market but not the best.
- Frequent Balance Requirement: Ally does not have a frequent balance requirement, which means you can earn interest on all of your deposited funds.
- Fees are reimbursed up to $10 at non-Allpoint ATM: You can get reimbursed up to $10 per statement period for fees charged by other banks’ ATMs.
- No minimum deposit is required to open the account: You can open an Ally Bank Money Market Account with no deposit.
- Low-interest rate: The interest rate on the accounts is not as high as other money market accounts in the industry.
- If the account is not funded within 30 days after opening, it will be closed.
Now let’s talk about C.D.s with Ally Bank.
4. Certificates of Deposit
You can open a certificate deposit without any minimum deposit. You can deposit or withdraw funds directly at any time. You also get an excellent APY for C.D.s.
Ally Bank offers a wide variety of Certificates of Deposit that can be categorized into three different types of C.D.s,
- High Yield Certificate of Deposit (CD)
- Raise Your Rate CD.
- No Penalty CD, and
Let’s check them step by step.
High Yield Certificate of Deposit (CD)
High Yield CD: You can open a High Yield Certificate of Deposit without any minimum deposit, and you’ll be able to choose from either a one-year, two-year, three-year, or five-year term.
The interest rate increases as your term increase up to 5 years. The minimum interest rate is 0.15% for 3 months and 0.80% for 5 years terms.
Raise Your Rate CD
Bank offers a Raise Your Rate CD, a special certificate that allows you to raise your interest rate once during the term of the certificate.
Raise Your Rate C.D.s to give customers the option of a higher earning rate if rates rise. You can increase your rate twice with four-year C.D.s and once for two-year C.D.s. The current interest rates are 0.55% APY. There are no monthly maintenance fees charged, and no minimum opening deposit is required.
Please note that these Unlimited Advantage C.D.s also incur penalties for early withdrawal, up to 150 days of interest on each CD withdrawn or closed before maturity.
No Penalty CD
A no-penalty CD, also known as a liquid CD, allows you to withdraw your money early without any penalty. This type of account is ideal if you want the flexibility to access your funds in an emergency or other need.
All No Penalty C.D.s have 11-month terms, and you will incur an early withdrawal penalty for withdrawals made before 6 days. However, after 6 days have passed, you can withdraw funds from your No Penalty CD without any fee or penalty.
Ally Bank offers a competitive interest rate for its No Penalty CD. The current interest rates are 0.50% APY. There are no monthly maintenance fees charged, and no minimum opening deposit is required.
|Ally Bank High Yield CDs|
Penalty for Ally Bank High Yield CDs
|High Yield CDs terms|
|24 months or less||60 days interest penalty|
|25 months to 36 months||90 days interest penalty|
|37 months to 48 months||120 days interest penalty|
|49 months or more||150 days interest penalty|
Let’s Check the Pros and Cons of an Ally Bank Certificate of Deposit:
- No minimum deposit required: You can open a Certificate of Deposit with no deposit.
- Early withdrawal is not penalized: Ally does not charge fees or penalties for early withdrawals on its No Penalty C.D.s.
- Multiple types of C.D.s are available: Ally offers three C.D.s: High Yield CD, Raise Your Rate CD, and No Penalty CD.
- Low-interest rate: The interest rate for the certificate of deposit is low compared to other certificates in the industry.
Now let’s talk about the other product of Ally Bank.
5. Other Financial Products Offered By Ally Bank
Ally offers a wide variety of financial products to meet different needs. It provides everything from home mortgages to credit cards. Here are some of Ally’s most popular products.
Ally Bank offers competitive auto loans with various terms and rates to fit your needs. You can apply for an auto loan online in minutes and get a response within seconds.
Imagine having a mortgage from Mortgage Ally. If you like working with the easy-to-use online application and are looking for a fixed or adjustable rate, then look no further! You can apply in as little as three minutes with unlimited jumbo loans available.
Try putting your home on Auto Buyer’s Block to sell it out of inventory at an instant price that can’t be beaten!
Ally also offers self-directed trading, which allows you to make your own investment decisions. You can buy and sell stocks, bonds, and mutual funds without paying a commission. You also have access to real-time quotes and can place orders over the phone or online.
Ally offers a wide variety of mortgages, including purchase mortgages. The purchase mortgage process was easy, and the representative was knowledgeable and helpful. Overall, I was pleased with the experience and recommended Ally Bank to others.
Ally offers personal loans for a variety of needs. From medical treatments and surgeries to home repairs and renovations, we can help you cover the cost. Our loans are sent straight to the provider, so you don’t have to worry about anything.
Alternatives of Ally Bank
Ally bank has been running for more than 12 years. Although it has a lot of advantages, there are some other alternatives that you might want to consider. In this section, we will discuss some alternatives of Ally Bank and what they can offer.
#1. Capital One 360 – the best alternative to Ally bank
Ally and Capital One 360 offer a variety of products, including checking, savings, money market accounts, certificates of deposit (C.D.s), IRAs, and home mortgages. They also offer auto loans, refinance mortgages, self-directed trading, purchase mortgages, and personal loans.
=> Savings accounts: Ally offers competitive interest rates and no monthly maintenance fees on many of its products. Ally Bank offers a higher APY(0.50% APY) on its savings account than Capital One 360(0.40% APY).
=> Checking accounts: Ally Bank and Capital One 360 both provide free checking accounts with no minimum deposit requirements.
=> CD: Ally Bank offers competitive interest rates on its C.D.s. The year APY is the same, but in 5-year C.D.s, Capital One 360 offers a higher rate of 1% APY while Ally bank 0.80%APY
=> Overall, both banks are good choices for your financial needs. Ally Bank focuses on savings and C.D.s, while Capital One 360 offers a wider range of products, including credit cards, checking accounts, loans, and mortgages.
Choose Ally if:
- You want a competitively high rate on savings products.
- You want fee reimbursements for ATM use.
- You want excellent customer service.
Choose Capital One 360 if:
- You are looking for a more diversified financial product portfolio.
- You need branch access.
#2. Ally Bank Vs. Chime Bank
Ally Bank and Chime Bank are both great options for your banking needs. Ally Bank offers a variety of products, including checking, savings, money market accounts, certificates of deposit (C.D.s), IRAs, and home mortgages.
It also offers auto loans, refinances mortgages, self-directed trading, purchase mortgages, and personal loans. Chime Bank is more focused on mobile banking and has no physical branches.
Here are a few key comparisons between Ally Bank and Chime Bank:
=> Savings accounts: Ally Bank offers competitive interest rates and no monthly maintenance fees on many of its products. While APY On Saving accounts are the same, Chime requires you to open a Chime spending account to qualify for a savings account
=> Cash Deposit: Ally do accept cash deposit while Chime only accepts a fee at Green Dot locations.
=> Overdraft fees protection: Ally provides this protection on its checking account while Chime Bank offers do not offer.
Overall, Ally is a better choice here. Ally offers competitive rates and a wide range of products, including C.D.s, while Chime allows depositing cash just in Green Dot locations and do not have CD product on their offer.
Choose Ally if:
- You want a wide range of savings products.
- You are looking for fee reimbursements for ATM use.
- You are satisfied with customer service at Ally Bank’s physical branches.
Choose Chime if:
- You need stronger checking account protection.
- You need to receive your paycheck up to 2 days early
- Need to deposit cash with fees.
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#3. Ally Bank Vs. Citi Bank
When it comes to Ally vs. Citi , a few things set Ally Bank apart. The first is customer service.
Ally Bank has always been known for its superior customer service, and CitiBank has fallen behind in this area in recent years.
Another thing that separates Ally Bank from Citi Bank is the interest rates on savings accounts and certificates of deposit. Ally Bank typically offers higher interest rates than Citi Bank.
Here are step-by-step comparisons between Ally Bank and CitiBank:
=> Checking Accounts: Bank offer free checking accounts with no minimum deposit requirements. Ally bank offers an interest rate of 0.10% APY on its checking account balances less than $15,000 and 0.25% on APY on daily balances above $15,000, while Citi Bank avoids offering any rate(only 0.01%) on its checking account. It’s also worth mentioning that its offers ATM fee reimbursement while Citi Bank does not.
=> Savings accounts: Both banks offer high-yield savings products, but Ally Bank typically has the highest rates on the market.
=> ATMs: This Bank offers ATM fee reimbursement, while Citi Bank does not.
Finally, this Bank offers a variety of products that cater to different needs, while Citi Bank tends to offer more products geared towards consumers who already have a lot of banking experience.
Choose Ally if:
- You want better customer service.
- You want an excellent checking account.
- You want ATM reimbursement.
Choose CitiBank if:
You need financial products that are more diversified than just savings accounts and C.D.s. Citibank has a much larger product portfolio, including mortgages, loans for consumers and small businesses, credit cards, and more.
Ally Bank customer Reviews
Ally customer reviews are overwhelmingly positive. Customers praise the bank’s superior customer service, as well as its competitive interest rates on savings accounts and certificates of deposit. Some customers also appreciate the bank’s no-fee checking account. Let’s source reviews about Ally Bank on different websites.
Ally bank customer reviews
As per the official website, 2571 reviews with 90% positive feedback, almost all customer reviews indicate that the bank offers competitive interest rates and great customer service.
However, reviews on the official website can not be fully trusted. So let’s check the independent online reviews.
Ally Mobile: Bank & Invest
Ally helps you get money to and from where it needs to be: in seconds. And whether you’re making a deposit or paying your bills, our mobile app lets you do everything within the app with just a few taps. It’s easy for any Ally customer – no matter what kind of phone they have!
Sending money is easier than ever before with Zelle P2P transfers. You can also find an ATM right when you need one, manage your balances, and transfer funds on-the-go too.
The Google play store has more than 10,00,000+ downloads and Installs with a good rating of 3.9 out of 5. Most of the reviews about bugs in the android version but in the Apple Store customers have given 4.7/5 star rating.
Ally bank review Reddit
To get an independent review, we can check Reddit.
On Reddit, there are 91 customer reviews, and almost all of them left positive feedback. The negative feedback is only by one reviewer, and they claim that this bank is not good for stock/investing. It’s painfully slow. There is Some feedback also about not having the option to deposit cash.
Other comments praise the competitive interest rates and excellent customer service for Ally Bank.
How to Open an account with Ally Bank?
Opening an account with Ally Bank is simple and can be done in a few easy steps:
=> Go to the Ally Bank website and click on the “Open an Account” button under the “Checking & Savings” tab.
=> Choose the type of account you want to open and provide the required information.
=> Fill out the online form, providing your name, address, Social Security number, and date of birth.
=> Review and agree to the Terms and Conditions.
=> Submit the application.
Once you have completed these steps, your account will be opened, and you can start enjoying the benefits of banking with Ally Bank.
Important Point to Note
If you choose our Overdraft Transfer Service, you’ll need to link an Ally Bank Online Savings Account or Money Market Account to your Interest Checking Account.
That way, they can automatically transfer available funds in increments of $100 from your savings account to cover the transactions if you exceed your checking account cash balance – at no charge to you.
The cost of baking with Ally Bank?
When it comes to the cost of baking with Ally Bank, there are a few things to consider. The first is the interest rate on savings accounts and certificates of deposit. Ally Bank typically offers higher interest rates than other banks.
Another thing to consider is the cost of using an ATM. Ally Bank does not charge fees for using its ATMs, while other banks may charge a fee.
Finally, you need to consider the cost of overdrafting your account. Ally Bank offers an Overdraft Transfer Service that can automatically transfer funds from your savings account to cover transactions if you exceed your checking account balance – at no charge to you.
There are no fees for ACH transactions, national or international wire transfers, or cashier’s checks.
Ally Bank Customer Service
Ally Bank offers excellent customer service. You can reach a customer service representative 24 hours a day, seven days a week.
Ally Bank offers customer service via phone, online banking chat, and email.
=> Phone: You can reach a customer service representative by calling 1-888-925-2559.
=> Online Chat: If you have an instant question or want to provide feedback, you can do so by going to logging in Chat.
=> You can mail to Ally Bank Customer Care, P.O. Box 951, Horsham, PA 19044
Who is Ally Best For?
Ally Bank has unbeatable benefits, including interest rates and customer service.
- Ally offers various products, including checking, savings, money market accounts, certificates of deposit, IRAs, and home mortgages.
- There are no monthly fees or minimum balance requirements.
- Ally Bank offers 24/7 customer support in various forms- phone calls (1-888-925-2559), online Chat (Chat), or email.
Ally is best for consumers who want excellent customer service and a bank that offers a variety of products, including checking, savings, money market accounts, certificates of deposit, IRAs, and home mortgages.
Ally Bank also offers ATM fee reimbursement, which is a perk that other banks do not offer.
Finally, if you are online savvy and like to bank and conduct transactions via the Internet and seek low-cost options, Ally Bank is a good option.
Final Thought: Is Ally Bank Worth it?
Ally Bank(2022) Review[Is Ally Bank Worth it?]
So, is Ally Bank worth it? We think so. The company offers some of the best interest rates around, no monthly fees or minimum balance requirements, and a wide variety of account options to fit your needs. Plus, their customer service is top-notch – you can call them 24/7, and they're always happy to help.
If you’re looking for a dependable, affordable bank that offers great features and excellent customer service, Ally Bank should be at the top of your list.
Have you had an experience with Ally Bank?
We would love to hear about it! Share your thoughts in the comments below.
Frequently Asked Questions
Is Ally Bank a reputable bank?
Yes. Ally is a reputable bank. The company has been in business since 1919 and is headquartered in Detroit, Michigan. Ally Bank offers a variety of products, including checking, savings, money market accounts, certificates of deposit, IRAs, and home mortgages.
The bank also offers 24/7 customer support in various forms- phone calls (1-888-925-2559), online chat (chat), or email. Ally Bank is best for consumers who want excellent customer service and a bank that offers a variety of products.
What are the cons of Ally Bank?
There are a few cons to Ally Bank. The bank does not offer physical branches- all customer service is done online or over the phone. This may be a pro or con, depending on your personal preference. Additionally, APY on a checking account is 0.10, which may be less than other banks offer.
Who is behind Ally Bank?
Ally Bank is a subsidiary of Ally Financial, which the General Motors Company owns.
Is ally a high-yield savings account?
Yes, Ally Bank is a high-yield savings account. Ally Bank offers one of the best interest rates at 0.50% APY. No monthly fees or minimum balance requirements make Ally Bank an excellent choice if you’re looking for a place to stash your cash. It’s hard to go wrong with this bank!
What is Ally Bank Good For?
Ally Bank is good for individuals looking for excellent customer service and a bank that offers a variety of products, including checking, savings, money market accounts, certificates of deposit, IRAs, and home mortgages. Additionally, Ally Bank offers ATM fee reimbursement, which is a perk that other banks do not offer.
Does ally use Zelle?
Yes, Ally Bank does offer Zelle. Zelle allows you to send and receive money to another person’s bank account from your bank account. It’s a quick, easy, and safe way to transfer money without having to write a check or use cash.
Which bank is better, Ally or Capital One?
Both Ally Bank and Capital One offer a variety of products and services, including checking, savings, and money market accounts, certificates of deposit, IRAs, and home mortgages. Additionally, both banks offer 24/7 customer service in various forms- phone calls for Capital One), online chat, or email. So which bank is better?
It’s hard to say definitively as each bank has its strengths and weaknesses. Ally Bank is best for individuals looking for excellent customer service and a bank that offers a variety of products. Additionally, Ally Bank offers ATM fee reimbursement, which is a perk that other banks do not offer. Capital One may be better for you if you look for a low-cost checking account with no monthly fees or minimum balance requirements.
What is Ally Bank’s number?
Ally Bank’s customer service number is 1-888-925-2559. They are available 24/7 to speak to customers.
What is Ally Bank’s address?
Ally Bank’s mailing address is 11175 E Michigan Ave, Detroit, MI 48227. They are also available on the phone 24/7 at 1-888-925-2559. You can also email [email protected] or visit them online at www. ally.com.
Alternatives to Ally Bank
A few alternatives to Ally bank include Capital One and discover bank. Capital One is an online bank that offers a variety of products, including checking, savings, money market accounts, certificates of deposit, IRAs, and home mortgages.
Discover is also an online bank with many products similar to Capital Ones- checking, savings, money market accounts, certificates of deposit, IRAs, and home mortgages.
How many times can you withdraw from Ally’s savings account?
Six withdrawals from Ally’s savings account are allowed per monthly statement period. This includes withdrawals made by check, in-person withdrawal at a teller station, ATM withdrawals, online transfers, phone transfers, and debit card purchases.
How do I deposit money into Ally Bank?
To deposit money into Ally Bank, you have to do it from another bank account. This can be done through a wire transfer, ACH transfer, or mobile check deposit.
Does Ally have physical locations?
No. Ally Bank does not have any physical locations. All interactions with Ally Bank must be done online, over the phone, or through the mail.
Does Ally have a mobile app?
Yes, Ally Bank does offer a mobile app. The app is available for both Android and iOS devices. It allows you to access your bank accounts, views account balances and transactions, transfer money between accounts, and make deposits. You can also use the app to find ATMs and contact customer service.
Does Ally Bank have a minimum balance?
No, Ally Bank does not have a minimum balance. You can open an account with as little as $0.
Is Ally Bank safe?
Ally Bank is safe to use. They are FDIC insured, which means that your money is protected up to $250,000 per depositor, per institution. Ally Bank is also part of the Federal Reserve system, which means the government backs your money. Additionally, Ally Bank has multiple layers of security in place to protect your information, including firewalls and encryption technology.
Is ally bank legit?
Yes, Ally is a legitimate bank. They are FDIC insured, meaning that your money is protected up to $250,000 per depositor, per institution. Ally Bank is also part of the Federal Reserve system, which means the government backs your money. Additionally, Ally Bank has multiple layers of security in place to protect your information, including firewalls and encryption technology.