Ally Bank is a one-stop shop for online-only banking customers from coast to coast.
Ally is a robust online bank with an array of deposit products, loans and services.
The bank offers low-fee deposit accounts with no monthly maintenance fees or minimum balance requirements.
Pays higher yields on CDs and savings accounts than traditional brick-and-mortar banks.
Ally Bank lets customers access more than 43,000 ATMs through the Allpoint network.
Ally Bank offers zero physical branches.
Reimbursements for out-of-network ATM fees are limited to $10 per statement cycle.
Customers cannot deposit cash.
Ally Bank customers cannot visit a physical branch. However, retail bank customers can speak with a representative over the phone 24/7. They can also use the live chat feature online.
Ally customers who download the bank’s app have access to a voice-enabled assistant, too. Consumers with a debit card have the ability to control it. Customers can check their balances and complete other tasks using Amazon’s Alexa. They can also ask Alexa how many hours of work equals the price of an item.
Ally Bank rates fairly well for its mobile app experience. Out of five stars, its app received 4.8 stars through the iTunes app store and 3.6 stars, according to Android users.
Ally Bank is an online bank that grew out of the banking division of General Motors Acceptance Corporation (GMAC), which was originally an auto financing company. In 2009, GMAC Bank was converted into Ally Bank.
Today, the bank offers consumers nationwide a wide range of products, including credit cards, home loans, money market accounts, investment products, certificates of deposit, checking accounts and savings accounts. The bank’s holding company, Ally Financial, is a leading financial services provider with headquarters in Detroit, Michigan. It serves millions of retail customers and thousands of automotive dealers.