Ally Bank Reviews
Formerly GMAC
- We require contact information to ensure our reviewers are real.
- Our moderators read all reviews to verify quality and helpfulness.
- We use intelligent software that helps us maintain the integrity of reviews.
+1 more
About Ally Bank
This profile has not been claimed by the company. See reviews below to learn more or submit your own review.
Ally Bank has financial roots that go back to 1920, but it was established as a digital bank in 2009. It was one of the first 100% online banks, and now it is a full-service bank offering checking and savings accounts, investment and retirement services, and loans for auto and home purchases. Customers can expect fee-free products with no account minimums, such as the No-Penalty Certificate of Deposit (CD), which allows early withdrawals.
- No account minimum or overdraft fees
- High APY
- No physical bank locations
- No cash deposits
Helpful Reviews
What is Ally Bank?
Ally Bank is a completely digital bank; there are no brick-and-mortar locations. It offers many benefits and features for customers, including no account minimums for savings accounts, checking accounts and certain CDs. Many accounts offer a higher-than-average annual percentage yield (APY).
Some features of Ally Bank include:
- No overdraft fees, low balance fees or cashier check fees for savings and checking accounts
- Everyday rewards credit card with up to 3% cash back
- Self-directed investing with cryptocurrency options and commission-free exchange-traded funds (ETFs)
- Personal, auto and mortgage loans
Ally Bank’s savings account comes with tools that make saving for financial goals simple. The buckets option allows you to separate your savings into sub-accounts without the money leaving your main savings account. Surprise savings happens when Ally Bank transfers safe-to-save money from your linked checking account to your savings.
How Ally Bank works
Signing up for an Ally Bank account should take less than 15 minutes online. You can also choose to sign up over the phone with a specialist at any time. Opening a new account will require you to provide the following:
- Social Security number
- U.S. residential address
- Legal name and birthdate
- Driver’s license
Later in the application process, you can add up to four joint account holders, depending on the account. For individual retirement accounts (IRAs), only one account holder is allowed.
Applying for additional accounts or services is a similar process, though once you have one account, it should be easier to apply for another. Investment accounts and loan applications might require additional information to qualify.
Even though you will not be able to deposit cash into your account, you will still be able to deposit checks up to $50,000 in a single day and $250,000 total within 30 days through the mobile app. If you need to deposit more than the electronic limit, you can mail additional checks to Ally Bank.
Withdrawing cash is also convenient, with over 43,000 free-to-use ATMs across the country and up to $10 ATM reimbursements per statement cycle for out-of-network ATM usage.
Ally Bank products and services
Ally Bank is a full-service online bank that offers many accounts and services to meet your financial needs.
Ally Bank checking account
Ally Bank savings accounts and CDs
There is no minimum deposit to open a CD, and you receive a 0.05% bonus when you renew your CD with Ally Bank.
Ally Bank loans
Ally Bank credit cards
Ally Bank fees
Ally Bank is very transparent about its fees. It has eliminated several fees, including account maintenance fees and overdraft fees, making the account simple to use. It does charge fees for the following:
- $10 fee for each withdrawal after the allowed six per statement cycle
- Expedited delivery fee
- Outgoing domestic wire
- Research fees
FAQ
What debit card does Ally Bank use?
The Ally Bank Debit Mastercard comes with the Interest Checking Account.
Does Ally Bank require proof of income?
For savings and checking accounts, Ally Bank does not inquire about or check your income or employment status. However, for a loan or line of credit, such as a credit card, personal loan, auto loan or mortgage, you will need to provide your annual income and will need to show proof through bank statements or W-2s, depending on which product you are applying for.
Does Ally Bank use Zelle?
Ally Bank allows you to select Zelle from the payments menu within your Ally checking account.
Can you use Ally Bank with any ATM?
If an ATM is part of the 43,000 no-fee ATMs in Ally Bank’s network, you will not be charged a service fee. If you use an ATM out of network, you will be charged a service fee. However, Ally Bank will reimburse up to $10 in ATM service fees each statement cycle.
Still have questions?
Is Ally Bank legit?
Ally Bank is a legitimate online bank. Unlike other online financial technology companies that are not legally allowed to be called banks, Ally Bank is legally a bank and FDIC-insured. It has over 8 million customers and uses Transport Layer Security (TLS) encryption and two-step verification to protect customers’ financial information.
Ally Bank Reviews
Filter by Rating
- (65)
- (20)
- (9)
- (53)
- (1,591)
Popular Mentions
- 4,907,997 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
A link has directed you to this review. Its location on this page may change next time you visit.
- 4,907,997 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
Reviewed June 26, 2026
In my last review, I gave it 2 stars, but the more I think about it, and reading the other reviews, I think I will redact that past review and give it 1 star. I have only 2 savings accounts in the bank, but today, with all the BS that's on the web about how bad things are, I want to close my accounts... but I literally could not get signed on to the bank. I clicked on everything but nothing worked. As a retired bank senior officer, this scares the hell out of me! If I want my money, I want it NOW! Not when the system comes back up...fix the friggin' system and be a good, honest bank. However, from the other reviews, I think that's probably never gonna happen.
Reviewed June 24, 2026
Read their rules. They can freeze your account, lock you out for just about any reason for any length of time with no explanation. Impossible to speak with anyone in customer service who knows what they are doing. Be prepared to spend 45 to 60 minutes on hold and most times they never get back to you. Can't get a supervisor, stay away from this bank. The worst experience I've ever had, now I need legal council to get access to my money.
Thanks for subscribing.
You have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.
Reviewed June 17, 2026
I was quite happy with Ally for many years and then, without explanation, the bank closed my accounts. I had no access to checking or savings, even though I used Ally services for investing as well. The bank refused to offer an explanation. Establishing a new bill pay service and investment program is time consuming and difficult. If continuity and reliability are important to you, do not use this "bank". Sorry to say it, but with a brick and mortar institution, you have access to staff and conversation.
Reviewed June 16, 2026
ABSOLUTELY BUNCH OF UNPROFESSIONAL **!! So I have verbally INSTRUCTED to close the dispute so the funds would be deposited and reflected on the account like a week ago. Today I am finding out the dispute HAS NOT BEEN CLOSED!!!! And the ONLY PATHETIC CRAP they are able to say is ".... Sorry for your frustration...." Absolutely disappointed!!! I am going to move my money out!!!
Reviewed June 4, 2026
Watch out. Ally bank will send you a form 5498 (for RMD) showing a year end balance which is different (higher) than the statement account balance at year end closing. One cannot calculate their RMD in order to take an early RMD with the way they calculate the account balance shown on their form 5498, which is not sent until May or June.. They are different than every other bank or credit union in their vague reporting. Place your IRA’s elsewhere…
Reviewed May 28, 2026
Your overseas associates are rude and don't understand how speak good English. I couldn't understand her and she couldn't understand what I was saying. I had to end the call.
Reviewed May 15, 2026
Horrible. I will never do business with this bank again. The car they financed was so horrible. The repairs were just as costly as the loan payments, and those were already way too high at $490/month for a Chevy Trax. When asking them about financial hardship options, they actually suggested paying $2000/month instead of $490 to pay it off faster. RightWay and Ally are crooks working together. I will never go to either and will warn everyone I know to stay away.
Reviewed May 12, 2026
Very disappointing experience with this bank. Customer service was slow, unhelpful, unqualified and I kept getting transferred without any real solution. I expected much better communication and professionalism.” This company Ally Bank has to be the worst company I have ever dealt with, such an unprofessional and ineffective financial company. I am 62 years old and this is by far the worst and most incompetent company; I spent 3 weeks trying to get an issue straightened out with them and they made it so difficult for me. I cannot fathom how a company lacks so much knowledge on somebody’s account when we are dealing with a financial institution. Every time I called to inquire about my account nobody had a clue and I would be put on hold several times. One person told me I had to go to the motor vehicle dept to change my title back into their name and I did so only for the next person to tell me I had to put it into the new finance company’s name.
After the weekend I called and they told me I have to put the title back into their name???? Their incompetency is almost laughable, but this really put a dent into my financial standing and the stress they put me through is reprehensible. I sincerely have no idea how they are in business. I probably spent over 2 hours on hold with this company throughout this nightmare. I would not recommend this bank for anything relating to your hard-earned money as they are 100 percent clueless. Very poor communication, extremely frustrating and staff was very uneducated in helping resolve issues, and the online banking experience was outdated and inefficient. There are much better banking options available. Do yourself a favor and do NOT use this bank.
Reviewed April 29, 2026
Hard to understand, not good English speaking to me...
Reviewed April 25, 2026
04/25/26 | moa Verified Account Owner. Ally Bank makes offers they do not honor. It is impossible to reach a customer service representative with any authority. The supervisor calls back; she doesn't have any power either. Emails go unanswered for weeks, and then when a reply comes, you get a cryptic email, "We've been trying to reach you." Of course, they haven't, so you have to go through the whole cycle of phone calls again to figure out what they're up to. Then it is obvious that nobody even read the email you wrote; but you have to call to get some boilerplate reply read to you. Stay away unless you wish to be treated like the insignificant insect that they view you to be.
Ally Bank Company Information
- Company Name:
- Ally Bank
- Website:
- www.ally.com
