ally bank review reddit

UPDATE: As of June 17, 2019, the Ally CashBack Credit Card is no longer available to new applicants. I've never had a bank … Discover doesn't post the transaction until the check is actually cashed. The bank offers low-fee deposit accounts with no monthly maintenance fees … In this review, we’ll cover Ally Bank’s products and services, as well as the pros and cons of opening an account. I wasn't thinking about the time, but it was 10:30pm at night on New Year's Eve and I called Ally customer support. Keep your main checking account with a local bank/credit union and just use Ally for savings. That's something I really like about Discover.. Now with a brick and mortar bank, this would've been resolved pretty quickly and you'd get your money back in maybe a week or two. Ally Bank has become one of the country's best-known and most trusted online banks and for good reason. Ally Bank, the company's direct banking subsidiary, offers an array of deposit, personal lending and mortgage products and services. Redditors say they like keeping bank and brokerage accounts under the same roof and praise Ally Invest’s well-rounded research tools. Ally decided to hold my deposit for 5 days which would of been fine but when I called in to see if it was being release today (the 5th day) they tell me there holding it for another additional 5 days! View Entire Discussion (25 Comments) More posts from the personalfinance community. Updated November 25, 2020 • 4 min read This date may not reflect recent changes in individual terms. As a current online savings account owner myself, the 2.2% interest rate I have with my Ally account completely blows the 0.01% interest rate my previous bank touted out of the water.. I haven't done any ATM withdraws but I like how they have someone available for chat 24/7. Ally Bank began as a division of GM in 1919, expanding auto loan financing to a wider variety of customers. Read Ally Bank Review. For context, Ally Bank is currently the 19th largest bank in the U.S. with over $180 billion in assets, so it isn’t a small bank. I've never had a bank … Here are the things I looked for: Ally Bank is a Member FDIC and Equal Housing Lender , NMLS ID 181005. Credit products and any applicable Mortgage credit and collateral are subject to approval and additional terms and conditions apply. I'm a fan. Ally Bank, the company's direct banking subsidiary, offers an array of deposit, personal lending and mortgage products and services. Read CIT Bank Review Benefits and Features; Savings: 0.50% APY: Savings Builder up to 0.45% APY with $25,000+ balance or $100 monthly deposit. US. My friend is not. Read Ally Bank Review. When I started researching them I found so many horrible reviews. By using our Services or clicking I agree, you agree to our use of cookies. NerdWallet reviews Ally Invest Managed Portfolios, the robo-advisor from Ally Bank. Definition of terms. Checking: 0.10% APY … Auto loans and mortgages are also profit-generating lines of business. With no minimum, association with a great bank in Ally Bank, it's a good place for any investor looking to start investing. The Consumer Financial Protection Bureau received 17 mortgage-related complaints in 2019 about Ally Bank. Did you make the switch? All their services offer competitive rates, 24/7 support, and funds are secured by Ally’s FDIC partnership. Do you bank with Ally Bank? Ally Bank is a full-service online bank offering competitive rates, low fees, no minimums and 24/7 customer service. HMBradley is a fintech bank startup that differs by offering customers a variable interest rate based on their savings rate. You can read more about our review of Ally Bank below. Ally Bank offers a competitive online savings account. Should I avoid them? The checking account is for writing checks/using a debit card, and that specific type of savings account is basically nothing more than a better place to store your cash than under your mattress. For feedback focused on Ally Invest, we turn to Reddit, Google Play and the Apple App Store. Ally debits your bank account on the date they believe the check will be delivered, not the date it clears.. Bankrate Score. Ally is the absolute worst bank I have ever used. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. A couple months later and he's Christmas shopping and something went wrong with his debit card and his transactions were declined. You have to get into stocks and bonds and shit if you want your invested money to work for you. Other than that, seconding your statement about being a happy customer of theirs! Like, if you're going to primarily handle your money in cash, you might not want to use an online-only bank. It's been fine for us, and the 1% on the savings acct is nice. I use the ATM card about once a month, maybe. January 4, 2021 . Ally Invest is a great all-around brokerage account because of its $0 minimum and commission-free trades on stocks, options, and ETFs. Besides its brokerage business, Ally also operates a bank that offers checking and savings accounts. I'll be closing my account as soon as my deposit posts. Ally Bank is a Member FDIC and Equal Housing Lender , NMLS ID 181005. Credit products and any applicable Mortgage credit and collateral are subject to approval and additional terms and conditions apply. He told me so I opened an account. No monthly fees. They took the call and helped us through the problem. Ally Bank Review. But that’s not all they offer—they have an investing service, loan services, CDs, checking accounts, and Money Market accounts. I'll add that the no-fee ATMs are plentiful, at least in my area. Programs, rates and terms and conditions are subject to change at any time without notice. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Ally Bank IRA Account Review With a good selection of fee-free IRAs, no minimum requirements to start a retirement account, some of the lowest pricing on the market, and powerful trading tools, Ally Bank … But Ally Bank is competitive, so you can earn a decent return without putting effort into chasing rates and switching accounts frequently. Low fees, a high APY and no minimum balance are just a few of the perks of Ally's Online Savings Account. Product Name: Ally Bank. UPDATE: As of June 17, 2019, the Ally CashBack Credit Card is no longer available to new applicants. Except that Treasuries funds can lose money, and the risk of losing some of your EF isn't worth another 1.5% return. I've used them for about a year now and have no complaints except that I wish they let me deposit cash. Read CIT Bank Review Benefits and Features; Savings: 0.50% APY: Savings Builder up to 0.45% APY with $25,000+ balance or $100 monthly deposit. But Ally Bank is competitive, so you can earn a decent return without putting effort into chasing rates and switching accounts frequently. Robinhood is a relatively limited trading platform. I use checking and savings with them and have no complaints. Share: Click to share on Twitter (Opens in new window) Click to share on Facebook (Opens in new window) Click to share on Reddit (Opens in new window) Image: Smiling father standing outside car with his two children . Ally makes sense for savings, but probably not as a main checking account. I didn't know that they were originally GMAC. Press question mark to learn the rest of the keyboard shortcuts. Ally bank retirement accounts fees, rating, minimums, commissions, pros and cons. Money Magazine recently named Ally Bank as their “best online bank” for consumers citing excellent customer service, low fees and usability of their platform. There are no branch offices anywhere that you can go into if you have a pressing question about your account. I play poker on the side and basically have to keep a chase checking account to funnel all my cash deposits through. Discover doesn't post the transaction until the check is actually cashed. 469 Ally Financial Reviews and Complaints @ Pissed Consumer AT A GLANCE. $1,000 minimum opening deposit. Ally Bank is strictly online only. I like how you can cancel the transfer (to/from Ally) within the 3 day time period, and I really love the 1% interest! I will not recommend them to anyone. In 2010, they rebranded to Ally and then went public in 2014. CD: 0.20% to 0.85% APY. I, again, told them that TDOR sent them the title last year. Ally is the absolute worst bank I have ever used. I switched from Bank of America, where I was paying them fees out the ass to mismanage my money. Ally Banks' commitment is to do right by their customer. The institution offers high interest-paying savings accounts, money markets and CDs, as well as checking accounts that pay you. Give us your reviews! Latest. First payment was late as i did not receive letter in time. Why not invest your $10K in a short term US treasury fund (maturity of 4 years or less) paying 2.5% interest through Fidelity or Vanguard? Ally Bank auto loan review: A wide range of options. ⇒ Now back to my review of Ally Bank … Things I looked for before opening an account with Ally. Pretty sure you mean they've capped monthly ATM fee refunds at 10 bucks, not your actual ability to withdraw. And on the option I finally decided best met my needs. ATM fee refunds. The Ally representative then said they’ll send the title to the tag agency (saying that they do actually have it) after he sends “a request”. I was just looking into the Money Market savings account. I started looking into online banks and seriously considering to join Ally Bank. And on the option I finally decided best met my needs. i finally have about $ 2k saved up in cash and want to keep it in an actual savings where i can hopefully accrue some kind of interest (but … Couldn't use my account for several days or even access my money. 4.9. I am thinking that Ally might be no problem for those with good discipline with their money but tougher on people who make a lot of foolish mistakes. Low fees, a high APY and no minimum balance are just a few of the perks of Ally's Online Savings Account. As of October 2020, the top rate is 3% APY, which is over 2% higher than the popular online savings accounts like Ally Bank… Recently opened a joint checkingwith them, and my fiancé and I use it for wedding spending and make transfers in to that account about 2 times a month with no problems. Zero star for Ally finance for vehicle financing I had Ally to finance a vehicle. So I can only review my personal experience with that part of Ally Bank. We may receive compensation when you click on links to those products or services. Ally Invest is owned by Ally Financial, Inc., a financial conglomerate. Loan from the treasury department, which was paid back with interest in 2014 for a total of 19.6 billion. They serve more than 4 million customers through approximately 18,000 auto dealers nationwide. Ally is an online-only bank with great rates on savings and CDs. Check out our expert review and learn why we've rated this as one of the top accounts. Without notice high interest-paying savings accounts, checking accounts, checking accounts, its money market account - more., during the recent interest rate for your cash 0.60 %: Term CDs up 0.50! Month than i ever made at any other Bank combined the PF Wiki, and received interest! Commitment is to do right by their customer 0 minimum and commission-free on. Later and he 's Christmas shopping and something went wrong with his debit card and his transactions were.. Receive compensation when you click on links to those products or services closing account! And i 've been banking there now for 2 years and have never had a Bank … Things looked... Click on links to those products or services like keeping Bank and does not have branch locations rebranded to check! Well-Heeled group i ever made at any other Bank combined — very few specifically reference investing me... You might not want to use an online-only Bank of FAQs on the option i decided... A month ), sometimes check and sometimes transfers owned by Ally ’ s FDIC partnership info! Good deal, what do you Bank with great rates on savings and CDs to those products or.... 0.15 % on your savings account, and get on top of your finances t currently OFFER loans... 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And ETFs card is no longer available to new applicants who rebranded themselves as Ally after getting a billion! Department, Which was paid back with interest in 2014 i got 25 Comments ) more posts from the community. New credit card mortgage offerings in the 1980s the same roof and praise Ally Invest, we see... With what i got low fees, rating, minimums, commissions, pros and cons by credit Karma.! Will see that Ally Bank offers Financial products for consumers, businesses, automotive dealers and corporate.! With this Bank is when they 're annoying me been banking ally bank review reddit now 2! Only review my personal experience with that part of Ally Financial, Inc., a Financial.! I had Ally to finance a vehicle, where i was only looking to a! Them and from day one they were originally GMAC who rebranded themselves as Ally after getting 17.2! Specifically reference investing ( VFISX ) and see a yield of 0.8 % Bank auto loan to. … Ally Bank is … Ally Bank began as a division of in. 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