Ally Bank

Ally Bank

Formerly GMAC

 3.7/5 (1328 ratings)
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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.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • No account minimum or overdraft fees
  • High APY

Cons

  • No physical bank locations
  • No cash deposits

Bottom Line

Ally Bank has low fees and higher yields, all with the ease of online banking from your preferred tech device. Customer support is available 24/7 for support; there are no in-person services.

Ally Bank Reviews

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Page 5 Reviews 100 - 130
Rated with 1 star
Verified Reviewer
Original review: Nov. 16, 2021

I would recommend people go to loan shark before Ally to get a car loan. People answering phone calls are all very nice but unable to put me in contact with anyone with authority or knowledge of what is going on!

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 15, 2021

Ally Bank was overpaid on a car loan by our bank. The loan was paid off on October 25, 2021. We are told that we will not receive our $ 1033.00 overpayment refund until December 10. 2021. They blame covid for not being able to process the refund. In the meantime, they use our money to loan out, not paying us interest. Despite compounding Auto loan interest daily for over 4 years. BEWARE. BEWARE.

6 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 2, 2021

I have been trying to pay off my daughter's car loan for over three weeks now and they continue to decline the payment. There is sufficient funds in the account and the account numbers are correct. I re-entered them several times but they are unable to process the payment and incompetent people.

5 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Nov. 2, 2021

Short and simple, I bought a vehicle from their predatory lending bank, when I became ill from Covid and got behind on my bill, they were heartless, had no plan in place to help people who got off track. And if you need assistance from them to get back on track you have to pay your bill upfront first. Now, what kind of help is that? If you had the money to pay upfront you wouldn’t need the help. How does that help the struggling customers? They finance easy at very high interest rates. I paid my previous vehicle off in full 29,000 and they still gave me a very high interest rate. If you are shopping for a loan, don’t get cheated by them like I did. Go find a loan somewhere else or I promise you will regret it.

They have no sympathy for their customers at all, no program to help, they call after 9:00pm and the calls are Very aggressive, the interest is tooooooo high. So I guess the ceo is living very good because he is bleeding the customers dry. They will call like they care because I told people the truth in my review and I’m refinancing with someone else. But I’m only telling the truth. Don’t buy from this company.

10 people found this review helpful
Customer increased Rating by 3 stars!
Verified Reviewer
Original review: Oct. 30, 2021

Please, no matter how desperate you are regarding your finances, don't get involved with this company. When I had a low credit score, they approved me with an astronomical 22% interest rate. I took it, have been paying for 2 years, and it's like throwing money in the garbage. Finally my credit score has risen to where I could try and trade the car in, but Ally has blocked every attempt for me to trade in my car by not accepting the terms. I then went to refinance with my credit union who gave me a 6% rate, and after my credit union sent them a huge check, Ally does not release the vehicle due to a $35.00 balance that was incurred because the payment took a few days to arrive. Now my new loan is going to have to wait because processing that new payment will take 10 days by Ally, then they take another 10 days to send the paid off letter and Title out. Once you are locked in with them, they will bleed you for every cent they can. Please find another way.

5 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 19, 2021

I opened a deposit account and an investment account. I funded both accounts using Ally’s internal debit initiation system, moving funds from another bank to Ally. Once the transfers were completed, Ally blocked both accounts without explanation or initiating any contact with me: no courtesy call, no e-mail, no letter. I telephoned and was asked to provide scanned copies of identification and a selfie of me holding the identification. I did so within minutes. Ally continued to block the account. I telephoned to confirm that the documents were in hand with Ally and was promised resolution within three days.

One week later, the accounts remained blocked. I telephoned to learn why and Ally was unable to verify my name, social security number, mother’s maiden name or security question. I was then asked five questions, all of which were completely unrelated to any logical information about me. I passed zero security checks. I was transferred to Victoria, the same haughty Ally employee, who asked for the identification and selfie. It was my third conversation with her and her haughty attitude was reconfirmed.

Miraculously, the identification was reviewed more than a week after originally submitted and the accounts were unblocked. She explained that: “it is not her job to review the documents, only attach them.” Not a word of apology from Ally until I requested one, when I was told: “if it makes you happy, I will give you one.” When I logged into the app to transfer money away from Ally, the accounts remained blocked. In a subsequent call, all security information magically worked again and the funds could be moved. Shocking.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 18, 2021

I’ve had this bank for 3 years and I only have reported a fraud recently. The only one that I ever had. I had a transaction that I did not recognized and they told me they are going to need to investigate it and that it will take 10 days. And while I wait on their decision I didn’t have any card because they had to order me a new one and they won’t give me the money that was taken out due to fraud. So I have no way of getting my money out of this account and no way of spending it. It’s so sad because I never reported fraud until now and when I reported it they made me feel like I’m the fraud. They don’t care about their customers. Very sad and disappointed. To solve my problem with them I decided to get an account with a different bank. NEVER WILL I EVER USE ALLY EVER AGAIN.

9 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Oct. 14, 2021

This company is a joke. I have never seen such unprofessionalism. I have been calling to just change my payment due date and it looks like I am asking for one million dollars. Hang up the phone on you. Disgusted is the word. I am working to see if there is ways I can change my car loan with them.

10 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Oct. 11, 2021

Absolute worst auto finance company. I paid $1360 to cover month and extra was to be applied to principal. Instead they apply to next month so they can continue to earn interest. I complained and agent hangs up. I tried to complain but Ally Financial gives me the runaround and never able to file complaint against agent who hung up.

8 people found this review helpful
Rated with 5 stars
Verified Reviewer
Original review: Oct. 9, 2021

Sharon in Repairs Check Department..."She is Perfect Customer Service". Sharon is there with you all the way through. If she says she will call you back- "She will". Also she will personally investigate and handle your issues from beginning to end! She has excellent phone etiquette and very professional. Because of her, we will continue to do our banking business with Ally Financial. Thank you Sharon.

5 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 24, 2021

Too Much.. Rep just ACTUALLY HUNG UP ON ME.. I really cannot believe this. I am going to say This.. Not good. Bad experiences.. Title Problems. Since I am near paying off..it's 1 thing after another. Judge for yourself..when you near paying off.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 22, 2021

I laugh looking at the 3-4-5 star reviews. Run from this bank as a Auto Loan company! Documented calls with total incompetency on every level. Do not report till 60 days to Credit Bureaus. Will not show your loans are paid till last day required by law to report. 6 days to get a email with a payoff quote. Month 3 since payoff still waiting for title! These people are a joke! All documented statements.

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 19, 2021

After being in an accident and total loss, my gap insurance left about $1,500 liability. They would not allow me to make monthly payments, now, my credit is impacted with a negative mark. Never again.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 1, 2021

After my 5th attempt to contact a customer service representative to answer a question and get my auto lease closed properly, I am so frustrated that I cannot reach a person to speak with. I have been placed on hold for hours. This is the worst company customer service I have ever come into contact with.

15 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 26, 2021

Horrible experience from beginning to end. We are tier 1 borrowers with FICO >800. Easily got our re-fin approved. Spent 3 months in the works...everything done, set to close and on the day of our closing...no one shows up. I had to reach out to them the following Monday. Loan was cancelled last second because of a second we had on our home (disclosed on the initial application)...No one bothered to call/email anything. And they did nothing what-so-ever to make it right. Avoid at all costs

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 24, 2021

I leased my car through Ally and was planning on doing a lease buy out. I’ve stated that multiple times talking to people. I was out of town when my car was repossessed even though payments were all caught up and they did not bother to send me written or verbal notice. Now for 7 days straight I have been relentless in trying to get a hold of ANYONE at Ally via phone and email that can give me any information about not only where is my vehicle but how do I get my vehicle back and how to do a lease buy out. I’ve tried calling every single department possible and I keep getting transferred to different departments until someone eventually disconnects or hangs up on me because no knows the answer to my very basic questions.

There has to be someone in charge of my account and there has to be a way to get a hold of this person. It feel like I have a better shot of getting a hold of the wizard of oz. It has been a week now that I do not have a vehicle to get back and forth from work or transport my son to school or the hospital god forbid he has an allergy attack. No one has gotten back to my emails and I’ve sent one to every email on the website and it has been a week, no response. This is unacceptable and downright outrageous to do to people in a time like this when we’re all just trying to hold onto our jobs through a pandemic.

11 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Aug. 19, 2021

Ally Invest has technical problems with their website. I am unable to log into my investment account to trade my stock holdings. Customer service insists it's my computer that's causing the problem. In the meantime, I have been deprived of control over my financial affairs. I'm planning to run away from Ally Invest and continue trading my stocks on Merrill Edge, where I haven't experienced any problems. Experimenting with an Ally Invest account was a big mistake. Hopefully, knowing about my experience with Ally Invest will prevent you from enduring a lot of needless aggravation.

10 people found this review helpful
Rated with 1 star
Verified Reviewer Verified Buyer
Original review: Aug. 8, 2021

I scheduled a wire transfer on 8-4 early morning to a gardener contractor for some backyard work. The wire never got approved on 8-4 and still shows a review status on 8-5. I was about to call ally and see what’s going and only found out they locked my account without any notification. I called their support on 8-6 and got transferred to their back office and answered several security questions. After the agent finally has assess to my account, she later found out she didn’t have the authority to do anything and advised me to continue to wait. At the meantime I may end up having to cash out some of my funds in brokerage account just to pay for the home remodeling.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 30, 2021

I’ve financed cars for several years. I had a 5 year agreement and have always paid on time. I only have about $3000 left. But Once covid hit, unfortunately I was laid off my job, financially struggling with many bills and still not working. They offered to work with me in the beginning reassuring me but in the end, that just was not the case. I was behind about 2 months, I had made payments but they were not the full amount. I got a bill saying I owed $1200+ which included late fees. The bill due date was for 7/31/21. On 7/29 the day before, without a verbal warning, or letter, I went out and my vehicle was repossessed. In a panic. I thought my car was possibly stolen or taken for a past ticket? Had no idea what happened.

After calling the local police they suggested I call my finance company. After 2 HOURS, and a runaround of calling, I was finally told yes it was repossessed for late payments. I had received a voicemail prior that day just telling me to give a call back with no indication of urgency or possible repossession. They took my car to Suffolk County LI, 35 minutes from where I live when there are actually 3 reputable companies near me. The company also is only there from 10-2 and closed on the weekend. How convenient! After getting on the phone again to verify the information, a robotic, blunt, foreign, cold voice told me, I had to pay the total amount which was almost double with the late fees and a $400 tow fee! Almost $2000 and cash only! Also, there is a key fee if you don’t hand in your key right away and additional storage fees for each day your car remains.. I was given to August 14, otherwise my car would be put up for auction..

I was hysterical, Penniless, and humiliated.. Thank God, I was able to borrow the money from a friend and family member. You would think during these times of the pandemic a small shred of human decency would be shown but no. No remorse, not helpful, not honest, and just want to take your money.. I’ve never encountered such a company like this in my entire life. And I’ve been in customer service for over 25 years.... Yes I was late, but that is not how you treat customers... I’m writing this to help others. Please Be aware.. Check your due date, and the day before your due date, or they will repo you without warning...

16 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 26, 2021

Ally financial services has horrible ways to pay an auto loan, online payment won't work. They tell you to call and wait on hold to speak to a non English person. Third party services don't work and charges $5. Tried paying through Walmart money services. Their fee went from $8 to $20! And Western Union Quick Collect for instant is now $30.49! I'm just trying to make a car payment without jumping through 100000 hoops! Lesson learned and will NEVER finance through Ally Bank.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 25, 2021

When covid hit I spoke to Ally and explained to them my situation and told them I needed at least 2 months. They told me it was ok. I called and informed the lady that I was going to make the payment the following day because it was nighttime and I couldn’t do the Money Order they asked me for that night. She said it was ok. That same night they repossessed my car. Making me pay $2,000 to take it out and they make me go through a ridiculous process just to get the car. And on top of that I had to make the payments. They refused to give me the car that following morning because it was too soon. They even made me pay for all the hours the car stayed there. They are not impeccable with their word and make you believe they’re on your side when in reality they only care about the money. I suggest you think twice about working with them. An auto loan is a delicate matter and you want to be sure the bank who’s lending you the money stays true to their word.

10 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 18, 2021

Ally financed my Auto Loan in 2016. When Covid lockdowns occurred in March 2020 and continued thru June 15th here in California I was bombarded with phone call after phone call regarding payment. There was nothing I could do to stay current but never fell more than 2 payments behind. Impressive considering no income. They offered deferred payment plans placing the payment on the loans backend. Not my best option but only option since the car was almost paid off. My car is my livelihood and didn’t want it reposed.

I answered the calls, spoke to so many service reps! I was a good consumer that found them very misleading and dishonest. They never truly moved those payments to the backend as promised, How do I know? Fast forward to now July 2021. My business is re opened and I decided to check my credit score to possibly relocate and it’s ruined ruined ruined by Ally Financial showing red late payments for almost the last year. The same period during the mandatory government lockdown. I’m going to fight for us little guys, and pursue a possible lawsuit! How can I be responsible for something the government decided? Ally Financial was extremely dishonest because they told me on several occasions as long as I was working with them there would be no negative credit rating. That is not true. My credit worthiness is gone! My only option is to sell my car and stop the hemorrhage.

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 16, 2021

I have been trying to get a lien release letter for 2 months on a car that was paid off in 2017! I have been bounced from department to department with no one who can help me get it resolved. Will never do business with them again!

9 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: July 16, 2021

I am an attorney with 30 years experience in real estate. I had never been involved with an online bank until last year. My interactions with them lead me to believe that their business model operates on the same principles as a fast food, but for mortgage lending. Absolutely no ability to deal with issues outside of a pre-fab model. Right hand does not know what left hand is doing leading to repetitive requests. No interest in client relationships just volume. Little substantive knowledge of basic real estate issues. No bilingual staff or ability to assess banking documents from institutions who operate in Spanish. For an online bank petty clunky software. I am severing my relationship with them and going back to Chase. Do not recommend to any Latino consumer.

13 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 15, 2021

My vehicle should have been paid off on 6/7/21 when the dealership sent in the check for the payoff of my car. The payment was applied on 6/8 and then was reversed on 6/17. I have tried to call every day to get it resolved since 6/8 and I can't get it fixed. Now my loan is showing late as of 6/15 and will mess up my credit. I have asked this entire time to speak with a supervisor and have yet to get one to call me back as of 7/15/21. This company is a joke and I cannot believe they can get away with treating people like this. They are messing up my credit that I worked so hard to build.

13 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 15, 2021

Ally invested in a company that dealt with paychecks and then distributing them, and when the company went bankrupt they accepted money out of those paychecks. This money did not belong to the company, the company had other's money moving through it. They took this money as part of the settlement of the remaining money when those who actually made the money got nothing. This is not acceptable to me, it needs to be addressed. I will not allow this to go quietly into the night.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 14, 2021

I've been a happy Ally customer for many years... However, this changed recently. The Ally's agent managed to send my money to a wrong external account (closed few years ago) and it took hours of my time on the phone and 1+ week to get my money recovered. The agents are strictly following the call scripts and are not able to comprehend the mess up they created and how the bank shall step up to correct its error and compensate a client for the inconvenience and extra cost associated with the issue. The agents never follow up on the promises they make and it is impossible to get connected to anyone who has a reasonable level of authority to offer acceptable solutions. I did not expect such a bad experience and would not recommend Ally to anyone going forward.

8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 12, 2021

Had set up multiple car payments on auto withdrawal one for $1083 and another for my child $147. For over 3 years no problem...then covid hit. They offered a deferment plan, we accepted then assumed payment would go back to normal. No sir deferred and then didn't set it back up. Now multiple negative strikes and tried to rectify with personnel stating they would fix it. But no such thing has happened. Now what was once a strong credit score is in shambles because they do not follow through with what they say they will do. Very unsatisfied and upset customer. Will never deal with them again. Part of GM as well and done with them too!!

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 9, 2021

I've been with Ally for a few years. I just started getting an issue where my card got compromised and the last 3 times someone got money out of my account. They are the most penetrated bank ever. It sucks.

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 7, 2021

Paid off my vehicle and haven't received the cleared title. Rerouted through the phone system until placed on hold for literally hours. No one answers the phone while they hold the title to my car. Crappy company.

15 people found this review helpful
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Ally Bank Company Information

Company Name:
Ally Bank
Website:
www.ally.com