Ally Bank

9.6

Welcome to Ally Bank, your trusted partner in banking innovation. Offering a range of services from high-yield savings accounts and interest-earning checking accounts to competitive mortgage rates, Ally Bank combines cutting-edge digital features with exceptional customer service. Designed for convenience and growth, Ally Bank empowers you to manage your finances effortlessly, ensuring your money works harder for you. Join Ally Bank today and take control of your financial future.

Product Info

Product Type Online Bank

Founded 2009

Headquarters Sandy, Utah, United States

Primary Services Savings accounts, Checking accounts, Loans, and Investment services

Mobile App Availability Yes

Customer Service 24/7

PROS

Competitive interest rates on savings accounts
No monthly maintenance fees or minimum balance requirements
24/7 customer service with live chat and phone support
User-friendly online and mobile banking interface

CONS

Limited physical branches, which can be inconvenient for those who prefer in-person banking services.
No cash deposits at ATMs, making it difficult for customers who frequently need to deposit cash.
Potentially slow customer service response times, particularly during peak hours.
Certain fees and limits on outgoing wire transfers, which may not meet the needs of all customers.

Q&A

What are the fees associated with Ally Bank accounts?

Ally Bank accounts have no monthly maintenance fees, no minimum balance requirements, and offer reimbursed ATM fees up to $10 per statement cycle. There are fees for excessive transactions on savings and money market accounts, overdrafts, and outgoing wire transfers.

How can I deposit funds into my Ally Bank account?

You can deposit funds into your Ally Bank account through several methods: online transfers from another bank, mobile check deposit using the Ally Mobile app, direct deposit, mailing a check to Ally's deposit address, and wire transfers. Additionally, you can use Ally eCheck Deposit to deposit checks remotely.

Is Ally Bank FDIC insured?

Yes, Ally Bank is a member of the Federal Deposit Insurance Corporation (FDIC). This means that all Ally Bank deposit accounts are insured up to $250,000 per depositor, per ownership category, in the event of a bank failure.

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