at Ally Bank,

Member, FDIC

Pros

No monthly maintenance fees or minimum balances
Access to over 43,000 free ATMs via checking or money market accounts
2.00% APY on savings, among the best you'll find

Cons

No way to deposit cash
For its savings account, Ally charges $10 for every outbound transfer after the sixth one

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Overall

4.5

An online-only bank, Ally Bank has become popular among people seeking strong rates and robust customer service. Because it doesn’t have to put money into physical branches, Ally is able to offer better rates and fees than brick-and-mortar institutions and can invest more in its products.

 

Ratings methodology | Updated Oct. 9, 2018

Checking

4.5

Ally offers an interest-bearing checking account with good rates, low fees and free access to over 43,000 ATMs nationwide. Ally will also reimburse you up to $10 per statement cycle for any fees you’re charged using an out-of-network ATM in the U.S. Although there is only one checking account to choose from, its rates are competitive, starting at 0.10% APY.

 

Note that Ally doesn't accept cash deposits. Your options include mobile check deposit, setting up direct deposit, setting up a wire transfer or sending a check by mail.

Online Savings Account
APY
2.00%
Min. balance for APY
$1

at Ally Bank,

Member, FDIC

Raise Your Rate CD
APY
2.60%
Min. balance for APY
$5,000
Length of term
4 years

at Ally Bank,

Member, FDIC

Interest Checking Account
APY
0.10%
Monthly fee
$0
Balance to waive monthly fee
$0

at Ally Bank,

Member, FDIC

How does Ally Bank compare?

Ally Bank

Online Savings Account

cheatgame.info Rating

APY

2.00%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

Live help 24/7

Goldman Sachs Bank USA

Online Savings

cheatgame.info Rating

at Goldman Sachs Bank USA,

Member, FDIC

APY

2.05%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

American Express National Bank

High Yield Savings Account

cheatgame.info Rating

at American Express National Bank,

Member, FDIC

APY

2.00%

Monthly Fees

$0

Bonus features

Competitive APY

Live help 24/7

No Monthly Fee

Not for you? Read more bank reviews
cheatgame.info reviews are the result of independent research by our editorial team while accountholder reviews are contributions from independent users not affiliated with cheatgame.info. Banks, issuers and credit card companies are not responsible for any content posted on the cheatgame.info site, nor do they endorse or guarantee any posted comments or reviews.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Waste of Time and Money
On the surface, it seems like a good bank. Low fees, high interest. However, the devil is in the details. If you need to deposit cash you have to pay Western Union to send them a deposit, and then it takes up to 2 weeks to hit the account. That can lead to overdraft fees, so you pay twice just to deposit cash. If you use their investment platform, you can only transfer out of checking and it takes a week for the transaction to happen. So if you have an unexpected bill or other debit come through the account, the transfer will fail and they will charge you an overdraft fee again. Additionally, as soon as you transfer money into your investment account, they allow you to start trading on that money. If you happen to buy a stock that goes down, and your transfer fails, they will immediately sell the stock so you lose whatever the market loses AND the overdraft fee. It's ridiculous. My recommendation is to bank at a real bank that has local branches and to use a real trading platform that doesn't rip you off. I'm marking current customer here, but I will soon be a past customer.
Overall
Customer service
Poor
Website / app
Fair
Rates
Poor
Fees
High
DONT USE THIS BANK.
I financed my car though ally in December of 2017, and they were the worst from the very beginning. Their customer service is rude on the phone and they hang up on you several times without even hearing your problem. To make matters worse they report false past due statuses to your credit bureau when you pay the account ONTIME and have always done so, and then act like it was your fault. Keep ALL your receipts, because they WILL try and screw you. Unprofessional and not helpful in ANY way. Its been a year of headache with them and I refinanced my car in July of 2018 and am STILL having issues. Save your peace, and your sanity and find another bank.
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