Ally Bank Review - Great Interest Rates and Low Cost Investing

(Editor Rating)



Why bank online? Better interest rates, no fees and if you bank with Ally, you’ll also find a low cost investment platform.

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Interest Rates


Ease of Use


Customer Service




  • Extremely low fees
  • High yield savings account
  • Multiple CD terms

Editor's note - You can trust the integrity of our balanced, independent financial advice. We may, however, receive compensation from the issuers of some products mentioned in this article. Opinions are the author's alone, and this content has not been provided by, reviewed, approved or endorsed by any advertiser.

Online banks have been growing in popularity in recent years, mainly because they pay interest rates much higher than what’s being paid by brick-and-mortar banks. One of the most outstanding online banks is Ally Bank–and not just because they pay high interest rates (which they do!). Ally Bank offers more services than other online banks, including some of the best auto financing programs available anywhere, and even a tie-in with their popular investment brokerage, Ally Invest. Of all the online banks out there, this one should be near the top of your list.

About Ally Bank

As an online bank, Ally Bank appears to be a young company. But it’s actually nothing of the sort. It’s the successor company to the once popular General Motors Acceptance Corporation (GMAC), once one of the largest auto lenders in the world. Founded in 1919, GMAC became Ally bank in 2009.

Auto financing remains one of Ally Bank’s primary lines of business, and they offer some of the most innovative auto financing anywhere (which we’ll cover in this review). In making the transition from GMAC, Ally Bank is a full-on online bank. It’s well known for providing some of the highest interest rates on checking and savings accounts, money markets, and certificates of deposit (CDs).

In 2016, Ally Bank moved into the investment universe, with the acquisition of TradeKing–a digital wealth management company that also offers online brokerage services. The TradeKing division was reestablished as Ally Invest–which we’ll also briefly cover in this review.

Ally Bank now has more than 7,900 employees, with over $78 billion in customer deposits and more than $167 billion in total assets.

The company has all this, and no physical bank branches anywhere!

Deal of the Day: Chase is now offering a $200 cash bonus when opening a Total Checking Account. No minimum deposit and all deposits are FDIC insured up to the $250,000 per depositor maximum.

How Ally Bank Works

The basic account features of Ally Bank include:

Available accounts – Checking and savings accounts; CDs; traditional, Roth and SEP IRAs.

Minimum account balance –  There are no minimum balances required to open an account. However, CDs and certain savings products do have minimum balance requirements in order to get in on various interest rate tiers.

Zelle – Ally Bank offers this service as an easy way to send or receive money to and from just about anyone with a U.S. bank account. All you need is their email address or mobile phone.

Account funding – You can fund your Ally Bank account through remote check deposits with Ally eCheck Deposit from your mobile device, as well as through online transfers, direct deposit, wire transfers, and checks by mail. Since Ally Bank has no physical branches, you won’t be able to deposit cash into your account.

Account access – Your Ally Bank account comes with both checks and a debit card. You can also access your account by electronic transfers or online bill payments. On savings and money market accounts, you’re limited by federal law to six withdrawal transactions. If you go over the limit, there’s a fee of $10 per transaction.

ATM access – Ally Bank accounts can be accessed through Allpoint ATMs throughout the U.S. There’s no charge if you use one of these ATMs and the network has more than 43,000 locations across the country.

You can access your Ally Bank account at out-of-network ATMs, but you will pay a fee for the service. However, Ally Bank will reimburse you up to $10 per statement cycle for any fees charged by those ATMs.

Mobile App – The Ally Bank Mobile App is available for iPhone and Android devices. You can do virtually anything on a mobile app that you can on the website. This includes depositing checks using Ally e-Check Deposit. With it, you can make a deposit simply by taking a picture of the check you’re depositing. You can also use the mobile app to pay bills, transfer funds, or find ATMs.

Customer service – You can contact Ally Bank by secure email, online chat, or by phone. Customer service is available Monday to Friday, 8:00 AM to 11:00 PM, and Saturdays from 9:00 AM to 7:00 PM (Eastern time). Ally Bank representatives are not available on Sundays.

Account protection – All accounts at Ally Bank are protected by FDIC insurance on deposits of up to $250,000 per depositor.

Ally Bank fees – There are no monthly or annual fees charged on any Ally Bank products, including credit cards.

Prepayment penalties for early CD withdrawals – Ally Bank’s CD prepayment penalties are as follows:

  • CD terms of less than three years – 60 days interest
  • CD term of 3 years – 90 days interest
  • CD term of 4 years – 120 days interest
  • CD term of 5 years or more – 150 days interest

Ally Bank Savings Products

Ally Bank offers online checking, savings, and money market accounts, as well as CDs. Each pays some of the highest interest rates available in the banking industry.

Ally Bank Interest Checking Account:

Interest Checking pays interest based on two tiers (as of June 14th, 2019):

  • 0.10% APY for balances under $15,000
  • 0.60% APY for balances of $15,000 or more

As noted earlier, your Ally Bank Interest Checking Account comes with both checks and a debit card. You can make payments using online Bill Pay, which is offered as a free service.

Ally Bank Online Savings Account:

Ally’s Online Savings Account is currently paying 1.80% APY (as of October 9th, 2019) on all account balance amounts. Interest is compounded daily, and there are no monthly maintenance fees.

And here’s a quick reference comparison table:

Ally Bank Money Market:

Ally Bank Money Market has two interest rate tiers (as of June 14th, 2019):

  1. Balances from 0 to $24,999 – 0.90% APY
  2. On balances of $25,000 or greater – 1.00% APY

The account comes with both checks and debit card access. Interest is compounded daily.

Ally Bank CDs

Ally Bank offers three different CDs:

  • High Yield CD
  • Raise Your Rate CD
  • No Penalty CD

The details on each are as follows:

High Yield CD:

This CD product is available for both regular accounts and IRAs. The high yield CD comes with the Ally Ten Day Best Rate Guarantee. This means you will get the best rate offered within 10 days of funding your CD.

Yields on the High Yield CD are as follows (as of June 14th, 2019):

CD Term/ Balance
All BalancesLess than $5,000$5,000 to $24,999$25,000 or More
3 Months0.75% APY
6 Months1.00% APY
9 Months1.25% APY
12 Months2.35% APY
18 Months2.30% APY2.40% APY2.45% APY
3 Years2.30% APY2.40% APY2.45% APY
5 Years2.50% APY

Raise Your Rate CD:

This CD product is available in terms of two years or four years. Either term pays an interest rate of 2.15% APY (as of October 9th, 2019), compounded daily. It is available for both regular accounts and IRAs. Also comes with the Ally Ten Day Best Rate Guarantee in which you will get the best rate offered within 10 days of funding your CD.

The raise your rate feature is what makes this CD unique. You lock in your rate when you first open your CD. Should rates increase, you will then have the opportunity to increase your rate once on a two-year term CD, or twice on a four-year term CD.

No Penalty CD:

This is an 11-month term CD. You can withdraw your full balance, including interest, at any time after the first six days following the date you fund the certificate. No early withdrawal penalty will be charged.

Like the other CDs offered by Ally Bank, this one is available for both regular accounts and IRAs.

There are three interest rate tiers (as of October 9th, 2019):

  • Balance less than $5,000 – 1.65% APY
  • Balance from $5,000 – $24,999 – 1.80% APY
  • $25,000 or more – 2.00% APY

Ally Bank Home Loans

With Ally Bank, you can apply for your mortgage online. They have a team of dedicated loan experts to help guide you through the process. Mortgage products available include fixed rate loans, with terms of 10, 15, 20, 25 and 30 years. They also offer 5/1, 7/1, and 10/1 adjustable-rate mortgages (ARMs). They provide Jumbo mortgages, and participate in the Fannie Mae’s HomeReady mortgage program for first-time home buyers.

Ally CashBack Credit Card

The Ally CashBack Credit Card is a Visa card issued by TD Bank, N.A.

The card comes with the following features:

  • Introductory 0% APR for 12 months on balance transfers (3% fee on amount transferred)
  • Regular APR after the introductory period is 14.74% to 24.74% APR on both purchases and balance transfers
  • $100 bonus when you make $500 in eligible purchases during the first 90 days
  • No annual fee
  • 10% Ally Deposit Bonus when you deposit your cash rewards into an Ally Bank money market, checking, or non-IRA online savings account
  • Unlimited 2% cash back at gas stations and grocery stores (including superstores and warehouse clubs)
  • 1% cash back on all other purchases
  • Can be added to Apple Pay and Samsung Pay
  • 3% foreign transaction fee

Ally Bank Auto Finance and Leasing Programs

As the successor to the once popular GMAC, Ally Bank has perhaps the widest selection of some of the best auto financing programs available anywhere. The company is the largest auto financing institution in the country. They work with more than 18,500 car dealerships, providing auto financing for more than 4.3 million consumers.

Ally Bank offers financing for personal and business vehicles, as well as recreational vehicles. They even have financing for specialty vehicles, like those with wheelchair lifts and right-hand drive capability. They offer both loans and leases.

Some of the loan and lease programs include:

Ally Buyer’s Choice

This program combines the benefits of buying and leasing. It gives you the option to continue making your regular lease payments, or to sell the vehicle to Ally Bank at a predetermined price and date. You have a choice of terms of either 48 months or 60 months, but you can also trade in the vehicle at any time during the contract. The program is available in every state except Nevada.

Ally Balloon Advantage

Under this program, your monthly payments are lower, because you make a large, one time payment at the end of your contract. You start with a fixed APR and monthly payments, with a single large payment at the end. You can sell or trade in your vehicle at any time as long as you pay off the remaining balance on the loan.

The program can make it easier to qualify for a loan, with lower monthly payments that will enable you to save the money needed to make the balloon payment at the end of the term.

Ally Balloon Advantage applies to all new GM, Chrysler and Mitsubishi vehicles. But it also extends to use vehicles up to four model years old (except Saab and Suzuki). The program is available in every state except Maryland, Nevada, New Hampshire, North Carolina and Pennsylvania.

Ally SmartLease

Ally offers shortened financing terms that give you the flexibility to get a new vehicle more often, and even includes select pre-owned models.

Ally Pre-Owned SmartLease

You can use Ally Pre-Owned SmartLease to lease a used vehicle. This will extend the benefit of leasing (lower monthly payments) to pre-owned cars.

The program lets you lease vehicle models based on the following criteria:

  • You have clean history reports
  • The vehicle is less than 4 model years old
  • It has fewer than 75,000 miles

Along with the lease, you’ll also receive automatic Guaranteed Auto Protection and the ability to purchase maintenance coverage similar to what’s offered for new models.

Ally Invest

As if Ally Bank’s banking and lending services aren’t enough, their Ally Invest platform enables you to invest with the same company where you bank.

The platform allows you to trade stocks and exchange traded funds for just $4.95 per trade–$3.95 if you’re a frequent trader (at least 30 trades per quarter). But you can also trade bonds, mutual funds, options, Forex and futures. Since they are a successor to TradeKing, Ally Invest is particularly strong with options trading. There is no minimum balance requirement to open a self-directed account.

If you’re not interested in self-directed investing and prefer robo-advisors, you may want to try Ally Invest Cash-Enhanced Managed Portfolios. Receive a fully automated investment portfolio with a $100 minimum investment. Ally will create and manage the portfolio, offering periodic rebalancing as well as dividend reinvestment. There are no advisory fees for the Cash-Enhanced Managed Portfolio. About 30% of the portfolio will be put in a cash buffer earning about 1.80% interest.

They offer both taxable accounts and IRAs for both self-directed trading or the robo-advisor.

Ally Bank Pros and Cons


  • Earn high interest on savings products. Ally Bank pays interest rates that are at or near the top of the interest rate range for all banks.
  • No fees on checking, savings, and money market accounts, or even on credit cards.
  • Unlike many online banks, Ally Bank provides many traditional banking services, including credit cards and mortgages.
  • Ally Bank auto financing programs are among the most innovative available.
  • Invest where you bank with Ally Invest.


  • No branch locations, but this is typical of online banks.
  • Cannot accommodate cash deposits.
  • Ally CashBack Credit Card has a 3% foreign transaction fee, which is not charged by most major credit cards
  • No availability of FHA or VA mortgage programs through Ally Bank Home Loans.

Should You Open an Account with Ally Bank?

At a time when local banks–and even some of the best-known banks in the country–are paying interest rates on savings of well below 1%, online banks are becoming the go-to source for higher interest rates. Ally Bank pays some of the highest rates available. But unlike many online banks, Ally Bank also offers many of the services traditionally associated with banking, including home loans and a credit card.

They’re virtually the industry leader when it comes to auto financing. Whether you need a loan or lease, Ally Bank has a program for you. Ally Pre-Owned SmartLease even enables you to lease a used car, which is a unique financing arrangement all by itself.

And finally, with Ally Invest you can invest money with the same company where you do your banking. Ally Invest offers an attractive combination of low cost self-directed investing, as well as a competitive professionally managed robo-advisor.

All in all, Ally Bank offers a comprehensive package that’s virtually unmatched in the industry.

If you’d like more information, or if you’d like to sign up for an account, you can visit the Ally Bank website.

Author Bio

Total Articles: 1081
Rob founded the Dough Roller in 2007. A litigation attorney in the securities industry, he lives in Northern Virginia with his wife, their two teenagers, and the family mascot, a shih tzu named Sophie.
Article comments
reinkefj says:

Change the name to fool folks? GM spun them out when it was still trying to save itself. Spawned from the now “government motors”, we’re supposed to “forget” who they were. I’ll share one phrase “Rule Of 72”. When they were GMAC, they used this to extract more money from car buyers. Who knows what else they did to car buyers borrowing. But, they have a new name and we’re just supposed to forgive and forget. Their ancestry won’t have anything to do with their offerings. Sorry. I’ll stick to my credit union. This group has “blood” on its hands. Be careful when you make a deal with the devil. Sometimes it doesn’t work out so well.

DR says:

reinkefj, I try to have a lot of patience with the differing views expressed on this site, but this comment is about the most ridiculous thing I’ve ever read. First, General Motors has a long and storied history in our country. Perhaps you’re too young to remember, but it has employed more people and benefited the U.S. in ways most companies never will. It’s current turmoil is the result of a lot of factors, and frankly, it’s sad to watch the auto industry crumble like it has. But a lot of hard working men and women poured their lives into these great companies, which should not be quickly forgotten.

As for Ally, it is an FDIC-insured bank. Its deposits are as secure as any credit union (actually more secure in some cases), and Ally pays some of the highest rates currently available. Use Ally or don’t use it, but “‘blood’ on its hands” is just ridiculous.

JanSimpson says:

Nice post -but why are you being paid by the evil ones who want to tax this country so much we go bankrupt and will be fully controlled by the Chinese? Seriously you are messed up –

GMAC is owned by GE who will getting hand-outs from the Government of taxpayer monies. First we will pay for their research and then we will pay through the nose for the products, plus get taxed 20 times over.

stop the spreading of liberal bs and get a life in helping others.


DR says:

JanSimpson, first, I was not paid by anybody to write this review. Second, Ally Bank, formally GMAC, is not owned by GE. Third, the Chinese own so much of our debt because we Americans (both government and individuals) can’t seem to say no when it comes to buying stuff. Fourth, the hand-outs from the Government make me sick, too. We’ve gone far beyond what the government typically spends in financially tough times. Now the government helps us pay for our homes, cars, and digital TV converters. Government is without doubt out of control, but I’m not sure how that reflects on whether or not Ally Bank offers a good rate on a CD, which it does.

GMACAllyCustomer says:

I have been with Ally (GMAC) for 3 years. I had no problem with GMAC before.

Recently I spend 2 months in Ally and still can not open a new account, this experience is very frustrated. The customer representatives have inconsistent answers. One day they call you with one answer, and please don’t feel surprised for the call from them in the following days with another answer; I fax the documents to them, and they can not find/locate the fax. I am tired with several rounds of this kind of inconsistence.

My question is:
If representatives can NOT provide standard guidance/answer, what’s the meaning of customer service of the bank?

Although they have 7-24 call service, it won’t help if they can NOT solve your problem. (In fact, it wastes your time!)

I am searching for another bank with relative high rates. Enough is enough.

Cynthia says:

I have spent one week and numerous phone calls and have been unable to open a savings account. The customer no service representatives haven’t a clue as to what they are doing. I’m taking my business elsewhere.

DR says:

Thanks for the input on Ally. I don’t know if the problems have anything to do with their transition from GMAC to Ally, but I’ll look into and report what I find.

Garlicbulb says:

Stay away from Ally Bank. Their website does not accurately reflect transactions and they want real paperwork when you sign up

Kel says:

I’ve had no problems with Ally whatsoever. Didn’t need any physical paperwork and the transfer from my bank went smoothly. At least that was the expierence I had with my CDs. Never even needes to talk to customer service.They do have some of the best rates around. And DR, I agree. I dont see what GM’s bankruptcy has to do with Ally’s CD rates 😛

Tony says:

I just love this Bank. I have been very pleased with their No Penalty CD and like their 24×7 customer service concept a lot. Their website is really good and I have had no problems moving money between banks whenever I needed to. Good service and good rates…..what more can you ask for?

Kevin Lackner says:

If the Ally Bank that is advertising high deposit rates is the same as the Ally Bank chartered in Midvale, UT, you should probably be aware that they are on the Watch List for Brokered CD banks based upon their June 30, 2009 call reports. .

These banks are evaluated based upon their Texas Ratio (Nonperforming Assets + 90 day past-due loans and leases / tangible equity + loan loss reserves). The higher the ratio, the greater the financial and credit risk. The listed banks all have a Texas ratio in excess of 40%. While most depositors need not worry as they are covered by FDIC insurance, it is certainly an issue they should be aware of.

Kevin Lackner says:

Just looked into it. The Ally Bank on the Brokered CD list is not the same.

David says:

I regret opening accounts at Ally. I opened a savings and the new checking account. 3 weeks later I’m still waiting for my debit card to arrive! They do require a hard copy of a signature card mailed in. They won’t accept a fax. The chat feature for customer service is nice, but I get the feeling that the customer no service people are indifferent to providing really good service. I switched from ING because ING typically has the lower interest rates out of all the online banks, they just have had great marketing success. But ING Direct does have great service.

DR says:

David, thanks for sharing your experience. It raises a good question–should interest rates determine which bank we choose, or is customer service a key factor?

Tony says:

I have been a customer of theirs for two years and appreciate the high interest rate and actually think their customer service is better than ING having dealt with both banks. I opened a checking account as well and the debit card took a couple of weeks to arrive but I now use it any ATM (unlike ING where I have to look up which ATM I can use it at). I also like the Raise your Rate CD which is where I have put a fair amount of my money given that I expect rates to rise.

DR says:

Tony, thanks for sharing with us your experience with Ally Bank. It sounds like Ally Bank is becoming more and more popular. They even won an award recently as the best online bank from Money Magazine.

Paul S says:

Folks I would not open an account with these theives under any circumstance. I made that mistake and still paying for it. Seems they could not automatic deposit my first paycheck in to the account. so I overnitghed at cost of $52 the check. Seems there was no one there on Saturday to accept the check so It was not delivered unitl Monday morning. Tuesday my Account showed the check deposited and my available balance was what I was expecting to be, so I started paying my bills. Next morning I now see a negative current balance and multiple 9.00 fees. Called the bank and they informed the check had a 10 day hold on it. So here I sit being payed but not able to access the funds. Next up they start sending out bill pays for bills I expected to have money for. They sent one out the 21st of the month and it has yet to arrives and tomorrow it will be late. Look at my account today and they sent another one to the same place that was not authorized. I have closed the savings account and just waiting for the hold to finally clear and I am gone from this bank. I would not trust ally to take out my trash let alone handle my money.

Haha says:

Lesson learned. Don’t wait till the last minute to pay your bills without knowing if you cleared on a brand new account. Sheesh.

Grant says:

I’m a huge fan of Ally Bank. Transferred money over from ING because the rates were higher. Their non-penalty CD’s are great, especially when the rates seem ready to take off. I would definitely recommend them to others!

David says:

My question would be “Do I feel Ally is a moral and ethical bank who are good for the USA?” My answer would be “Absolutely not!”

The US Government gave 14 Trillion dollars to GMAC Mortgage in bailout money when the Fed declared them a bank to qualify them, even though they were not a bank. GMAC Mortgage never repaid those bailout loans and are now 56% owned by the US Treasury.

After the Government bailed them out, GMAC Mortgage foreclosed on more homes than any other mortgage company, resulting in plenty of wrongful foreclosure lawsuits against them. No one bailed out the US Citizens, and Ally Financial proved to be an “Ally” to no one when they robbed the nation from the top and bottom.

During the Mortgage Crisis which they were partially responsible for, GMAC Mortgage were unable to properly answer their phones and rushed to hire a completely untrained staff who remain poorly trained to this day. Customers waited months for customer service. Most either got none, or got service so poor that it may have been illegal.

Suddenly they have decided to rename themselves and to take advantage of their “bank” status with online bank accounts.

Your money will be FDIC insured, but will your conscience allow you to lend your money to the people who are more responsible for the collapse of our economy than anyone else?

Susan says:

DO NOT open an account with this bank. I had to receive large sum of wire transfer from overseas that was on a time constraint and because the customer representatives gave me wrong information, I had to get it wired twice, and because of this, the fund got recalled. Ally bank just closed my account after this happened and when I explained what had happened, why it got recalled because of the fact that the customer reps gave me the wrong information and I had to get the money wired twice, they still blamed it on me. They treated me like a criminal, talked down to me and over me, while shifting the blame on me and never apologizing or trying to rectify the problem. The manager, David Pakosh was the rudest most despicable person I ever dealt with with a bank. He practically told me to shut up while I was trying to explain what had happened and blamed it all on me and NEVER once accepted that Ally’s staff gave me the wrong information to screw up the transaction that should be so simple.
If they deal with customers this way that put in large sums of money in the bank and handle large sums of money this way, imagine what they will do if it is small? I will never deal with this bank again. That manager needs to be fired because he obviously doesn’t belong in the service industry and I have never been more furious of how I was treated and how my money has been treated.

Grace says:

Ally has breached security of unknown numbers of its clients. This morning I got a payment confirmation email with someone else’s personal information in it. After being on hold for 45 minutes so far, Ally has confirmed that my information was also sent to another person, and cannot confirm whether or not this OTHER person’s payment (which is double mine) will be taken out of MY bank!

They are also refusing to provide credit monitoring service, and won’t let me speak to a supervisor.

Absolutely ridiculous. The switch from GMAC to Ally has been nothing but trouble.

MikeM says:

I have been a customer of Ally Bank for a few years now and I could not be HAPPIER. I have direct deposit through my work, transfer funds between my local bank for cash withdrawals, and pay my bills online. They have the Best Rates and Service.

Joe says:

Just had to draw my money out of GE capital, they just sold that like everything else there selling.
I figured, I would try Synchrony, what a mistake. STAY AWAY from this institution. I was on the phone for over an hour,not one day but two days, after i tryed to open an account on line, and it’s stil not right.


Angel says:

Thanks for writing this review on Ally. I actually had a good experience with them as my first online account. I think as long as they are FDIC insured your money is safe. I also like your blog a lot and I feel like you have a lot of great financial topics.

Carl says:

Ally has been the poorest experience I have know in my 40+ years of banking and loans! We are unable to reach a decision maker to help resolve our dilemma . We are on fixed income, seniors. With our new auto loan we asked Ally to move our payment day each month to 14 days down to coincide with our SS checks deposited. Done with a $47 charge! First bill we paid. Ally returned check mark insufficient funds ! We go directly to bank to confirm our account balance… Over $2000 balance. Bank said no record they ever received the check. Assured us they would have paid it! Called Ally to pay over phone. Oops. No billing yet on extra charge for date change. Next month since it not paid Ally flags our account as delinquent! OVER $47! This has affected our credit score and is preventing us from being able to purchase a house! Repeated calls to Ally we,re told has to go to “Back Office” and that takes 4-6 weeks! Ally needs to lean how to empower their frontline and lower level supers to make immediate decisions on minor issues! It’s $47 NOT $47,000, We’re on a critical deadline waiting for this financial sloth to make a decision! Reeks of incompetence on the front lines es and a bottleneck at the top!

Carl says:

With all the the positive giddiness by Doughroller I really suspect this is NOT an independent, unbiased reporting agency. Really it is just an advertisement for Ally!

Rob Berger says:

Well Carl, your suspicions would be wrong. I’ve used Ally for years and have found the bank’s rates and fees to be very good. Feel free to add a substantive comment about Ally, rather than attacking me personally.

Daniel S says:

I have used Ally bank for years and was shocked recently when they dropped the ball when I needed them the most. A failed bank transfer wasn’t the main problem I had with them, it’s how they handled it and the resulting multiple hoops I the customer had to jump through to straighten everything out.

I contacted their customer care department with a multi-point bulleted email of where and how they dropped they ball, and their response was a signed one page PDF detailing the initial problem, and how I wouldn’t give them some information that was pointless after the fact (but they wanted me to know I hadn’t done something they wanted like that was somehow pertinent to their customer service issues). That’s all the PDF said, as they totally ignored the customer service issues I brought to their attention, and as a result they lost a customer.

I HIGHLY recommend you go to another bank where they are required to look you in the face and explain why they messed up when they do (because everyone is human). I will never trust Ally Bank again.

Suzanne Spence says:

My client just opened an account at Ally with over $200,000. He just tried to send a wire today in the amount of $100,000. Wire was confirmed received by Ally Bank at 9:21 am and at 1pm today I got the call to verify the wire details and was told the wire should process within 45 minutes. At 2:30 I spoke to customer service and all they could say was wire was still processing. Asked for a supervisor and he politely apologized for the length of time wire was taking, blah blah, blah. My belief is this bank doesn’t have ready access to funds to be able to accommodate my wire on a day’s notice. Very scary to me. They should have advised my client that wire transfers of large sums would take more than 1 day. As soon as we can, we are transferring all of our money out of this Rip Off Bank.

Deb says:

I opened a checking acct a couple mos. ago. First problem I encountered is I could not add a memo to one of my online payments. For instance, I was including an additional amt on my mortgage pmt to go toward principle. Because it wasn’t an actual paper check pmt, that feature is not available. It is available with Wells Fargo online banking. Next issue. I set up a property tax pmt to be made on 10/11. Here it is 10/17 and I received no email notification that the pmt was made. I went on to Ally and my available balance looks to high. I see the property tax pmt was made on 10/11 BUT in the “withdrawn on” date column having a date, it shows “When Check Cashed”. I called to get clarification and was asked if I called the payee yet. NO! If Ally paid my bill, I expect the bill total to come out of my available balance on the day it was paid. If I wanted to use a paper check and wait around for the payee to cash it, I WOULD WRITE A PAPER CHECK AND NOT USE ONLINE BANKING. Closing my Ally Account ASAP.