Ally Bank Review 2026
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Edited by
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At a glance
Overview
Ally Bank is ideal for consumers that are comfortable solely banking online, and those interested in consolidating their banking under one roof. The bank offers a full suite of strong accounts, along with loans and credit card options and 24/7 customer service.
Highlights:
High APY ATM Fee Refunds Low Min DepositHighlights:
CDs
Checking
Savings
MMA
Customer Experience
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.6/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.8/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Ally Bank pros and cons
Pros
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Solid APYs across savings, money market and certificates of deposit (CDs).
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Offers deposit accounts with no monthly maintenance fees or minimum opening deposit requirements.
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Ally Bank lets customers access more than 75,000 ATMs through the Allpoint network.
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Customer service is available 24/7.
Cons
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You can’t send an international wire transfer from Ally Bank.
Ally Bank products
Ally Bank Savings Account
Pros
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Pays the same solid annual percentage yield (APY) across all balance tiers.
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Doesn’t have monthly maintenance fees or minimum balance requirements.
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Offers multiple helpful savings features.
Cons
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Cash deposits aren't accepted for this account though you can deposit cash into a Spend account and transfer it over.
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Limit of 10 combined transfers and withdrawals from savings and money market accounts per statement cycle — but your account can be closed.
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No outgoing international wire transfers.
Ally’s savings account offers a unique set of helpful savings tools. For example, you can divide your savings into “buckets” to help you organize your money for different savings goals.
You can also turn on a feature called “Surprise Savings” which analyzes your linked checking accounts to find money you can safely save (without putting you in danger of overdrawing) and then automatically transfers it to your savings for you. Or you can get your debit card transactions rounded up to the nearest dollar and the difference transferred to your savings.
Bankrate's take
While it doesn't have the best of the best APYs, Ally Bank consistently offers solid yields. Competitive rates combined with Ally's savings features can help you keep your finances on the right track.
Rhys Subitch
Editor, Deposits
Rate history for Ally Bank's Savings account
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Ally Bank High Yield Certificates of Deposit
Pros
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There is no minimum deposit required to open a CD.
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Multiple types of CDs are available, including no-penalty CDs.
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Early withdrawal penalties are less harsh than at other banks.
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All yields are above average.
Cons
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The no-penalty CD isn’t available as an IRA CD.
CDs at Ally Bank come in several different flavors: high-yield CDs across multiple terms, two bump-up CDs, an 11-month no-penalty CD and a handful of IRA CDs. Its standard CDs have highly competitive APYs for the most part, with the exception of the three-month CD.
Ally offers a unique feature for those who renew a CD with the bank: a 0.05% APY increase on top of the offered rate at the time of the renewal.
Rate history for Ally Bank's CD accounts
See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
Ally Bank Money Market Account
Pros
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The Ally Money Market account offers a strong APY across all balances.
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The account includes a debit card and checks.
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Account holders are reimbursed up to $10 per statement cycle for fees at non-Allpoint ATMs.
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There’s no minimum balance required to maintain the account.
Cons
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Cash deposits aren't accepted for this account, though you can deposit cash into a Spend account and transfer it over.
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Limit of 10 combined transfers and withdrawals from savings and money market accounts per statement cycle — but your account can be closed.
Ally’s money market account pays a relatively strong yield and doesn’t have a minimum balance requirement to earn interest. This is a big advantage over other money market accounts, as they often have tiered APYs and only pay higher APYs on higher balances.
Ally Bank Spending Account
Pros
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There is no minimum deposit required to open the Spending Account.
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There are no monthly fees.
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Standard checks are free with this account.
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Ally doesn’t charge overdraft fees.
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You can get reimbursed for $10 worth of out-of-network ATM fees each statement period.
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Cash deposits are available at Walmart.
Cons
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Though you earn a bit of interest with this account, it’s not much — you can find higher APYs on your checking elsewhere.
Ally’s Spending Account — the bank’s sole checking account — is a solid account all around. With this account, you’ll earn a bit of interest and won’t pay maintenance or overdraft fees.
Ally also offers two forms of overdraft protection. One is CoverDraft, which provides up to $250 to cover overdrawn transactions, at least temporarily. The other is overdraft transfers, which automatically transfers money from a linked Ally savings or money market account to cover any overdrafts.
Customer experience
Customer support
24/7 support is available. Ally Bank has no branches, but retail bank customers can speak with a representative over the phone 24 hours a day, seven days a week. The website even lists the current wait time to get connected with a representative before you make a call. You can also log in to your account to chat with a representative or send a secure message.
High overall customer satisfaction. Ally Bank ranked highly in overall satisfaction among online-only banks for both its checking and savings products, according to J.D. Power’s 2026 Direct Banking Satisfaction Study. The bank ranked third among checking providers and second among savings providers.
Digital experience
Highly rated mobile app. The Ally Bank mobile app has a high rating on iOS and Google Play.
Robust help center and transparent website. Ally maintains a customer-friendly website that shows the most relevant information — such as rates and fees — prominently for each account. It also has an extensive help center, which can assist current and prospective customers in getting answers to their questions without having to connect with a representative.
The FAQ menu system is easy to navigate and prominently displays important forms you may need during the application process. There’s also an FAQ section at the bottom of each product page. Moreover, the search function does a great job of finding relevant information based on the keywords you enter, including information on fees and helpful articles breaking down banking basics.
Short helpful how-to videos. Ally features how-to videos on its website and mobile app, which break down Ally’s banking tools. For example, these videos will show up next to Ally’s buckets, recurring transfers and round-up tools, which are all features to help grow your savings.
How Ally Bank compares to other banks
Compare different account types offered by Ally Bank. Annual percentage yields (APYs) shown were updated between Oct. 25, 2026 and Oct. 31, 2026.
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Selected bank
Ally Bank savings account
Bankrate score
4.4
Bankrate Savings rating = 4.4/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Most comparable
Capital One savings account
Bankrate score
4.5
Bankrate Savings rating = 4.5/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Search for or select a bank:
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Bankrate score
Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Oct. 25, 2026 and Oct. 31, 2026.
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| 3.20% | 3.20% | |
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Minimum balance for APY
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| $0.00 | $0.00 | |
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Estimated earnings
Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
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| $1,600 | $1,600 | |
| Ally Bank consistently offers a strong yield on its Online Savings Account. It’s not usually the absolute highest yield, but it is competitive and there’s no minimum balance requirement and no monthly service fee. The bank offers mobile deposit but you’ll need to transfer money to your checking account or Ally’s money market account if you want to access your savings from an ATM. | Capital One’s 360 Performance Savings Account earns a strong yield (though it’s not the absolute highest available). It doesn’t require a minimum opening deposit and you won’t pay a monthly service fee with this account. Capital One is one of the few online banks that has a branch network if you want the option of in-person banking, though they’re only in select states. | |
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APY offering:
3.20%
4/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum deposit for APY:
$0.00
5/5
The minimum deposit amount a financial institution requires in order to open a savings account.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account; can sometimes be waived if certain requirements are met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain to avoid a monthly fee.
Access to funds:
Average
4/5
Access to funds scores how many and which ways you can withdraw and deposit funds from a savings account.
Additional savings tools:
Yes
5/5
Additional savings tools include features such as sub-accounts, roundup savings or other automatic savings features.
|
APY offering:
3.20%
4/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum deposit for APY:
$0.00
5/5
The minimum deposit amount a financial institution requires in order to open a savings account.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account; can sometimes be waived if certain requirements are met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain to avoid a monthly fee.
Access to funds:
Great
5/5
Access to funds scores how many and which ways you can withdraw and deposit funds from a savings account.
Additional savings tools:
Yes
5/5
Additional savings tools include features such as sub-accounts, roundup savings or other automatic savings features.
|
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
The minimum deposit amount a financial institution requires in order to open a savings account.
A monthly charge a financial institution deducts from an account; can sometimes be waived if certain requirements are met.
The lowest balance an account must maintain to avoid a monthly fee.
Access to funds scores how many and which ways you can withdraw and deposit funds from a savings account.
Additional savings tools include features such as sub-accounts, roundup savings or other automatic savings features.
Bankrate does not currently track additional product details for this bank.
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