Ally Bank

[Jdmiata]

Thinking of opening an account with them.
Anyone have any experience / opinions with them ?

[Two Bills]

Just had a look at some of their reviews.
I think I would pass! JMO.

[saratogaman]

I've had a savings account with them for years...no problems. They have been ranked among the top online banks, paying higher interest rates consistently than most -- and way more than our local bricks-and-mortar banks.

[retiredguy123]

The consumer guru, Clark Howard, says that online banks are a good way to earn higher interest rates, and, as long as they are FDIC insured, they are fine to use. Bankrate.com gives Ally a 5 star rating. But, personnally, I would feel uncomfortable with any online bank. I would get a local bank for checking, and use an investment company, like Vanguard or Fidelity for a money market account. Currently, the Vanguard MMA has a yield of 1.73 percent, as compared with 1.7 percent for Ally. If you want a CD, I would use a credit union, like penfed.org.

[New Englander]

I have used Ally for years. They are a very good on-line bank and are 100% safe because Ally is FDIC insured. Each depositor can have up to 250K fully insured. No worries what so ever.

[Altavia]

I have used Ally for years. They are a very good on-line bank and are 100% safe because Ally is FDIC insured. Each depositor can have up to 250K fully insured. No worries what so ever.

Same here.

[dewilson58]

Lots of issues.


Do your work.


Not a lot of gain (for the pain) with these guys.

[Toymeister]

If the reviews concern you in the slightest...

Use Alliant Credit Union virtually identical rates (1.65% vice 1.70%). A real brick and mortar bank (although not here). 2.5% cash back on everything CC. Nerd Wallet bank of the year for 2018. You qualify for membership.

Nerd Wallet recommends financial deals, quite well known with internet connected generations.

[Altavia]

16 Best Savings Accounts of December 2019
Margarette BurnetteDecember 1, 2019
At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

The best savings accounts should come with great customer service, cutting-edge technology and higher-than-average interest rates, and they should have low or no fees. NerdWallet staff analyzed, compared and rated dozens of banks and credit unions before selecting the savings accounts that offer the best combination of consumer-friendly features. (Most of these banks are NerdWallet partners, which was not a factor in our evaluations.) Our selections are below.

16 Best Savings Accounts of December 2019 - NerdWallet (https://www.nerdwallet.com/best/banking/savings-accounts)

[Altavia]

Just had a look at some of their reviews.
I think I would pass! JMO.

The negative reviews I could find were related to loans and fee based products, not savings?

[retiredguy123]

Why not just get a money market fund or short term bond fund from Vanguard or Fidelity? The interest rates are competitive with savings accounts from online banks. Your money is very liquid and you can write checks. I don't understand the advantage of using an online bank, or any bank for a savings account. I only use a bank for a checking account, and I like being able to deal with a real live person.

[Toymeister]

Here is Clark Howard's disclosure on how they are paid. As you can see it is identical to Nerd Wallet.

Clark Howard Inc. is an independent O&O company. We only write about companies and products that we want you, the consumer, to know about. We do however make money from links and offers from some companies and deals on our sites. For example, you may see a deals roundup or a credit card comparison/review page with links to particular products or cards in a story. After the story is written, our advertising team will look and replace links to those products/sites that will pay us a commission if they gain a customer. Many of the retailers/banks on that page may have no relationship with us, in which case we receive no compensation. Clark does not include the entire universe of available credit or financial offers on our sites.

While this helps us pay the bills, the trust that you have in us is our number one priority and always will be.

[fraurauch]

We have had an Ally savings account for approx. 5 years and are very satisfied with their customer service and their interest rates are among the best around.

[gcanonge]

Been with them for years. Great Bank. They offer good rates and I have never had an issue.

[Syd2008]

Have been with Ally for 6 years. Wonderful service. Easy check deposits. Easy check ordering. Wonderful service if you need to contact. Refund up to $10 per month to your account for ATM fees. Have used for cashiers checks. Easy.

Highly recommend.

[toeser]

I have had savings accounts and CD's with them since they were GMAC. No problems whatsoever.

[CFrance]

Thinking of opening an account with them.
Anyone have any experience / opinions with them ?
I've had three accounts (one joint with husband and two joint with adult children) and a savings account with them for close to ten years. I've never had a problem. One negative... Their debit card charges a fee for overseas usage, over and above the currency exchange rate. Even American Express has stopped doing this. So I don't use their debit card outside of the US.

[GEOLIN]

Been using them for a very long time for MM and CDs. No complaints. Good service. Rates are very competitive. On CDs they give a CD renewal bump.

[edwardt6]

I get monthly statements for a account i closed 4 year ago quit calling just throw in trash

[Two Bills]

The negative reviews I could find were related to loans and fee based products, not savings?

Sorry, but even if the complaints were only about the cleanliness of the restrooms it would put me off.
When negatives outway positives, whatever the cause, I will look elsewhere.

Many posters are more than happy with their service, so maybe/probably I am wrong. I would still pass though. JMO.

[OhioBuckeye]

Thinking of opening an account with them.
Anyone have any experience / opinions with them ?
Actually I’ve never heard of them. The thing I would be concerned with would be will they protect me if any of my accounts got compromised & how they protect you. Personally I would do my banking at a bank that’s been around & nationally known. I use CHASE & so far in 15 yrs. they’ve done a great job! Sorry I can’t tell you anything about ALLY Banks!

[edlynette@cs.com]

Thinking of opening an account with them.
Anyone have any experience / opinions with them ?

Don't go to BB&t

Their customer service is horrible

[jacksonbrown]

Nearly two years with Ally and am 100% satisfied. Saving's rate was 2%, now Annual Percentage Yield is 1.70%. Occasionally, their system would be down when I tried depositing a paper check using their iPhone app. No bother, simply tried again in a few hours. I needed a few more checks, Ally sent them promptly.

[CFrance]

Nearly two years with Ally and am 100% satisfied. Saving's rate was 2%, now Annual Percentage Yield is 1.70%. Occasionally, their system would be down when I tried depositing a paper check using their iPhone app. No bother, simply tried again in a few hours. I needed a few more checks, Ally sent them promptly.
I haven't had to order checks in over a year, so my information may not be current, but their checks have always been free.


Ally has been around for some time. We had a car loan through them in 2005. That's what led to my opening the joint bank accounts with my kids. Our main bank is Schwab, but my husband and I also have a joint account with ally that we have SS checks deposited into and pay bills from. So three checking accounts and a savings account, and no problems in the last 8 years.

[Jdmiata]

Thanks for the input. I have opened an account.

[maybe]

I have had no problems with Ally. You might also consider online CIT Bank. It is not CITI Bank.