Recently Ally Bank released two mobile phone applications. The apps, designed for the iPhone or Android phones, are a big step into mobile banking for Ally.
Frankly, Ally Bank has been behind the curve on its move toward mobile banking, but the Ally Mobile Banking and Ally ATM and Cash Locator apps move it in the right direction. Here are the details.
Ally Mobile Banking App
The first app is the Ally Mobile Banking App. It’s a typical banking app that offers account holders secure access to their accounts from a smartphone. If you have multiple Ally accounts you can monitor all of them with the app. Here are the current available features:
- Check balances and search transactions
- Transfer money between Ally Bank accounts
- Search for ATMs and cash back locations
With this being a new app it looks like the functions are pretty basic. However, Ally says it will be adding the following functions in 2012:
- Transfers between Ally accounts and non-Ally accounts
- Pay bills
- Make deposits using your phone’s camera
- Pay people via your phone (Ally cals this feature Popmoney)
the Popmoney feature and transfers with non-Ally accounts could put the bank at the forefront of mobile banking.
Ally ATM and Cash Locator App
The second app up is the Ally ATM and Cash Locator App. This app is taking a unique approach by showing all ATM machines (Ally doesn’t have physical locations) and retailers that offer free cash back when making a purchase. To understand this approach, you need to know one thing about Ally Bank–it charges no ATM fees.
Not only does Ally bank waive ATM fees at ANY ATM, but it also reimburses account holders for ATM fees charged by other banks. So you can withdrawal your money anywhere. And that’s why Ally’s new app shows all ATM locations near you. One nice perk Ally offers their bank debit card customers is they don’t charge them ATM fees even when they aren’t using an Ally ATM. It will help anyone quickly fine over 400,000 ATMs nationwide and thousands of retail locations that offer cash back.