Ally Banking Review

Company Overview: Ally

Ally is a diversified financial services company that offers banking, credit cards, auto loans, investing, home loans and more. Ally serves over 250,000 customers that total almost $5 billion in assets. As an online-only bank, Ally can offer better rates because it doesn’t have to support branches.

Ally Overview

Ally offers attractive rates and terms compared with other top online bank accounts:

Account Minimum: $0

Monthly Service Fee: $0

Debit Card: Yes

Mobile App: Yes

How Ally Compares: Key Benefits Of Ally

Here are some of the reasons that investors love Ally::

  • Great Rates: Ally has among the highest rates for bank accounts in the industry, which means you can watch your money grow.
  • Account Minimum: You can open an Ally online savings account with $0.
  • Free ATMs: Ally provides access to over 43,000 free ATMs.
  • Mobile App: Ally’s mobile app is compatible with Apple, Android and Windows phones.
  • Customer Support: Ally offers 24/7 customer support as well as real-time chat support.

Bottom Line: Is Ally right for you?

Ally has a top reputation as an online bank.

Ally offers among the highest rates for online bank accounts, which means you can watch your money grow faster. With no monthly maintenance fees or minimum balance, Ally has built the reputation as one of the premier online banks.

One of the best benefits of Ally is free access to over 43,000 ATMs. Plus, there are no ATM fees at All Point ATMs. Ally will even reimburse you $10 per month for fees at other ATMs.

Ally does not have any physical branches. While you cannot deposit cash in this account, you can set up a direct deposit and deposit checks remotely with Ally eCheck Deposit. With all online savings accounts, federal law limits electronic transactions to a third party or another account to six per statement cycle. However, you can make unlimited deposits and ATM withdrawals.

Next Steps: How To Apply To Ally

You can open an Ally account online within a few minutes, and the process is simple.


Best Bank Accounts For 2018

Bank
Rates (APY)

Overview

Account Minimum: $0
Monthly Service Fee: $0
Debit Card: Yes
Mobile App: Yes

Details

  • One of the oldest online banks
  • Mobile app is compatible with Apple, Android and Windows phones
  • Real-time chat support
  • Access to over 43,000 free ATMs
  • No ATM fees at AllPoint ATMs, plus $10 / month reimbursement for other ATMs

Review

Overview

Account Minimum: $0
Monthly Service Fee: $0
Debit Card: No
Mobile App: No

Details

  • No transaction fees
  • Easy electronic transfers, wire transfers or deposit by check
  • One of the leading financial services companies

Overview

Account Minimum: $0
Monthly Service Fee: Waived, if balance of at least $30
Debit Card: Yes
Mobile App: Yes

Details

  • Offers remote check deposit
  • Access to more than 2 million ATMs
  • $0 fees for Synchrony Bank ATMs, $5 monthly rebate for other ATMs
  • $0 overdraft fee
  • Hotel discounts and rental car discounts available for balances over $10,000

Overview

Account Minimum: $0
Monthly Service Fee: $0
Debit Card: Yes
Mobile App: Yes

Details

  • $5 non-sufficient funds fee (much lower than other banks)
  • No maximum monthly deposit
  • No ATM network, but ability to make electronic transfers that link to your bank account

Overview

Account Minimum: $0
Monthly Service Fee: $0
Debit Card: Yes
Mobile App: Yes

Details

  • Not-for-profit credit union that you can join by meeting membership criteria, or simply making a $10 charitable donation
  • Access to 80,000 ATMs
  • $0 ATM fees for in-network ATMS, plus $20 / month reimbursement for other ATMs
  • 24/7 phone support

Overview

Account Minimum: $0
Monthly Service Fee: $0
Debit Card: Yes
Mobile App: Yes

Details

  • Extensive ATM network
  • One of the highest yields around
  • Strong customer service

Overview

Account Minimum: $0
Monthly Service Fee: $0
Debit Card: Yes
Mobile App: Yes

Details

  • Includes automatic savings tool
  • Extensive ATM network
  • Access to service cafes in select cities
  • Ability to set and track goals to save you money

Overview

Account Minimum: $100
Monthly Service Fee: $0
Debit Card: Yes
Mobile App: Yes

Details

  • One of the highest rates
  • Free online banking

Review

Advertiser Disclosure