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Ally Bank Review: Savings Account and No Penalty CD Rates

Published 6/5/09 (Modified 2/19/14)
By MoneyBlueBook

Review Of Ally Bank.com's High Yield Money Markets, Savings, and CD Offers

After a rather bumpy ride over the last few years, the financial institution formerly known as GMAC Bank is now Ally Bank. In mid-May 2009, the former financial lending and banking arm of General Motors took the first of what it hopes to be a series of reinvigorating steps towards distancing itself from the much criticized and tainted image of the now bankrupt auto maker.

Since then, many of you may haven noticed their recent aggressive purple-themed advertising blitz on TV spots and online ads. With the launch of Ally Bank, the company is undertaking a massive promotional effort to differentiate itself from the collectively damaged reputations of other struggling online banks in the hopes of positioning itself as a commercial advocate of honesty, transparency, and accountability. Though the former bank has been struggling mightily in the midst of the worst economic recession and subprime mortgage crisis in decades, now that it's flush with bailout funds courtesy of the federal government's Troubled Asset Relief Program (TARP), the new Ally Bank is now sufficiently stabilized to concentrate on growing its depositor base and rebuilding its image.

Currently, Ally Bank's interest rate offers are extraordinarily competitive and have been consistently dominating the high end of the bank rate spectrum. If you are willing to accept the view and belief (as you perhaps ought to) that the government's FDIC insurance protections are more than adequate to guarantee the safety and security of your banking assets in the case of any unforeseen scenario, Ally Bank's high interest account rates alone ought to be worth some measure of consideration. Whether Ally Bank's quest to transform itself will be successful remains to be seen. However, in terms of the top rates alone, Ally ranks among the very best online banks, as you won't find too many non-teaser rate offers that can match the consistency and aggressiveness of Ally Bank's high interest deals. In terms of product lineup diversity, the bank also touts a few special banking products not readily found elsewhere - most notably, the Ally Bank No Penalty CD. Other offers include:

  1. Online Savings Account - The high yield online savings account from Ally Bank earns a very high interest rate - much higher than other banks.
  2. Money Market Account - With no account minimums and no monthly fees, the Ally Bank money market account offers versatile check writing and free ATM fee reimbursement privileges.
  3. Classic CD - The classic fixed interest certificate of deposit from Ally Bank offers a variety of high yielding CD rates for different term limits, all with no minimum deposit requirements. Interest is compounded daily for maximum earnings.
  4. No Penalty CD - The highly coveted No Penalty CD from Ally Bank allows you to withdraw your money and put it anywhere, without the hassles or shortfalls of an early withdrawal penalty. This special CD offer has no fees of any kind and offers high fixed interest rates with no minimum deposit stipulations.

Ally Bank's High Interest Rates - An Illusory Scam Or A Legitimate Offer?

Let's focus on Ally Bank's greatest and most dominant selling feature - its consistently favorable high yield savings account and CD rates. Despite the depressed state of interest rates across the board, Ally's current rates have always remained one of the highest. Its perpetual financial issues have forced Ally to continuously offer very competitive interest rate yields to attract new account depositors. Interestingly, it's these same perpetually high rates that have been recently raising the ire of competing banks, who via the American Banking Association (ABA) lobbying group have complained to the FDIC that the extraordinarily high deposit rates offered by Ally Bank are unfair due to its status as a recipient of subsidized federal taxpayer funds. Ally Bank has responded to the conflict by accusing the other banks of wanting to stifle competition to the detriment of consumers.

It may be a rather draconian way of looking at it, but I feel Ally Bank's loss is our potential gain as prospective banking customers. Ally Bank's continued desperation to acquire new deposits and stay sufficiently capitalized, and its willingness to continuously shell out the highest rates to accomplish this objective - is our potential windfall as interest rate seekers. For the foreseeable future, I don't believe Ally Bank's rates will plummet any time soon. So long as it continues to be closely monitored by federal government regulators and continues to stay aggressive in its ambitious plan to re-invent its brand, Ally Bank will continue to be a top tier destination for aggressive rate chasers. Let's just hope the bank can ultimately turn things around and not meet the same failed fates as IndyMac Bank and Washington Mutual.

Ally Bank's Quest To Build A Better Bank - With No Minimum Deposits, No Fees, No Minimum Balances, and Improved Customer Service

So what's your personal take on Ally Bank's recent name change from GMAC Financial to Ally? Great decision to rename itself and shed the tainted reputation of its former self - or merely putting lipstick on a pig as some people have put it? Personally, as a former long standing GMAC Bank customer, I'm extremely pleased that Ally Bank's decision to overhaul itself included a major name change. While a name change in of itself isn't capable of changing the corporate culture or altering the pre-existing way of doing things, at the very least it's a significant gesture that the bank is trying to go in a different direction.

Hoping to improve its relationship with customers and usher in honesty and openness, the new Ally Bank has rewritten its explanations of financial terms in very simple language, curtailed much of its former usage of disclaimers, and pretty much done away with old school tactics such as implementing introductory teaser rates, monthly fees, and minimum deposit requirements. With these changes, the bank has also tweaked its best product features to make them more attractive. Currently, you'll find that Ally Bank sits at the top or near the top of all ranked reviews of the best money markets, the best high yield savings accounts, and the best CD rates for everything from 6 month to 12 month certificates of deposit. The savings account and CD rates that Ally Bank touts is frequently many times over the national average - topping even the offerings of the best online banks.

Ally Bank has also drastically overhauled its customer service system - installing and heavily promoting its laudable 24 hour, 7 days a week customer service accessibility. In fact, this improved feature is pretty much plastered everywhere on the new Ally Bank website. To test out Ally Bank's new customer service improvements, I purposely called a few times at weird hours of the night and a few times during office hours. In response to my cadre of banking questions, I received pretty targeted and courteous answers (something I don't always get from more established banks like Citibank). Of course, despite the company's financial difficulties in the past, the former GMAC Bank's customer service reputation has always been generally well regarded in most editorial reviews. Here a quick run through of Ally Bank's best new features:

  1. Promise of the Best Rates: Ally Bank has indicated that it is committed to consistently offering the best savings products featuring the best rates. Historically, the former GMAC Bank has delivered, and at present is still delivering on this promise.
  2. No Fake Teaser Rates: Ally Bank states that it will no longer be offering introductory "bait and switch" teaser rates that start very high but later crash. Let's hope Ally can indeed keep those rates perpetually high.
  3. No Minimums: There are no more minimum deposits or minimum balances required at Ally Bank. Feel free to open a new account with a whopping $0.00
  4. No Sneaky Disclaimers: More transparency on rates and terms along with less usage of confusing legalese and jargon.
  5. No Penalty CDs With No Strings Attached: One of Ally Bank's best new features is the no withdrawal penalty certificate of deposit. Customers can withdraw funds prior to the maturity date without paying a fee and transfer the funds to any account at any bank without penalty charge.
  6. Sleeping Money Alerts: In an effort to encourage customers to continuously seek out higher rates, Ally Bank will send out notices to customers when funds have been idle and could be earning a higher rate of return.
  7. 24/7 Customer Service: Ally Bank now offers around the clock 24 hour, 7 days a week access to a live call center agent for customer assistance help. Just dial (1-877-247-ALLY)

Full FDIC Insurance Limit Protection With Ally Bank Up To $250,000

If you are like many of the high interest rate seekers out there drawn to the new Ally Bank because of its exceptionally high rates, you ought to be mindful of the online bank's viability issues and ability to stay operational. Despite the name change, Ally Bank is still the same struggling GMAC Bank, at least until its aggressive marketing allows it to snag more customer deposits and become better capitalized. Until then, the possibility of an Ally Bank failure is always a real and serious concern.

But fortunately, like most reputable banks out there, Ally Bank accounts are fully insured and guaranteed by the United States government's FDIC insurance - confirmed as FDIC certificate 57803. Based on recent changes with FDIC regulations, bank account deposits at FDIC insured banks are now insured up to $250,000 through December 31, 2013. With FDIC insurance, your Ally Bank savings and CD accounts are completely shielded from loss and backed by the full faith and credit of the federal government to be safe in the event of any unforeseen banking collapse. So long as you stay within the $250,000 FDIC limits, regardless of what happens to Ally Bank, there really is no need to be nervous - your assets are fully protected. If you are unsure about putting your money into the hands of a newly renamed bank with a past, there are plenty of other highly rated banks to choose from - albeit touting rates that aren't as lucrative or as high as that offered by Ally Bank.

Extra Information and Resource

  • Ally Bank ABA/Routing Number for direct deposits and ACH transfers: 124003116
  • Ally Bank Customer Phone Number: 1-877-247-2559 for 24/7 assistance
  • Ally Bank E-mail: customercare@ally.com

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Reasonable efforts are made to maintain accurate information. See the Discover online credit card application for full terms and conditions on offers and rewards.

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29 Responses to “Ally Bank Review: Savings Account and No Penalty CD Rates” 

  1. Robert says:


    Ally.com is a complete scam! They spam mail scams to phish your real identity. Do not surf there web site or open any email from ally.com

  2. Raymond says:


    Can you elaborate? Alleging that Ally Bank is a phisher of identities seems to be somewhat odd. The company is an otherwise legitimate bank. What interest would they have in stealing the identities of its customers? Do you work for a competing bank or something?

  3. Noel says:

    In the past I have received phishing emails from "Bank of America", "ING", and others, but these emails aren't from the bank itself. Its from someone in another country, trying to find out your account information so they can gain access. Its just a shame that people fall for this, especially since the sender's email is usually so fake! If you're really worried, call the bank directly and ask, but don't respond to the fake emails!

  4. Emily says:

    Thank you for all of the information. I'm looking for a savings account to open with my fiance, and ally seems like our best bet as of right now. I was impressed with their website, and it all seemed too good to be true, so i sought out further information. I am 99% convinced that we will go with Ally bank, although I did not know they were formerly GMAC. But that could be a good thing, considering they want to completely dissociate themselves from their former reputation. We're going to wait a few more months, so we'll see if these high interest rates continue until 2010.

  5. Bob says:

    Very unsatisfied with Ally. I scheduled ACH transfer and it initiated. Next day it returned to original Ally account as a deposit, Ally could not explain why. Ally agreed to Bank Wire the amount to destination account but required a form. They emailed form I completed form and my local institution faxed it to them including extra forms to help Ally to complete transfer. The Bank Wire failed to complete. This all occurred on a Friday before Labor Day weekend. I had this and other transactions scheduled for this day as a way to pool funds into a CD before the Holiday, four banking institutions were involved only Ally failed me and twice. Ally can't explain what happened with the ACH transfer but with the Bank Wire the excuse was employee training. Ally has caused loss of interest income and much aggravation. I will be moving away from Ally and recommend all to avoid this institution.

  6. joe black says:

    I own a lot of GMAC Smart Notes , and all I can say is I'm glad as hell the government is backing GMAC . It gives them a chance to claw their way back and I think they eventually will . While it may take many years even a decade or two , it's better that the alternative . I own some 7% notes and some 9% notes , and they've never failed to pay even one interest payment . Truth be told those notes are supporting about half my monthly expenses (retired) . One thing all these people who say they want these organization to go under don't realize is , Great Depressions aren't a lot of fun . Eventually the bulk of these loans will be paid back to the government / taxpayer . Had the government not stepped in when they did , things would be 3 to 4 times worse than they are . This is what the people who are clamoring for the bankruptcies of these companies don't understand . We will get out of this , BE PATIENT !


  7. Paul S says:

    Folks I would not open an account with these theives under any circumstance. I made that mistake and still paying for it. Seems they could not automatic deposit my first paycheck in to the account. so I overnitghed at cost of $52 the check. Seems there was no one there on Saturday to accept the check so It was not delivered unitl Monday morning. Tuesday my Account showed the check deposited and my available balance was what I was expecting to be, so I started paying my bills. Next morning I now see a negative current balance and multiple 9.00 fees. Called the bank and they informed the check had a 10 day hold on it. So here I sit being payed but not able to access the funds. Next up they start sending out bill pays for bills I expected to have money for. They sent one out the 21st of the month and it has yet to arrives and tomorrow it will be late. Look at my account today and they sent another one to the same place that was not authorized. I have closed the savings account and just waiting for the hold to finally clear and I am gone from this bank. I would not trust ally to take out my trash let alone handle my money.

  8. steven says:


    How many commercials have they made now, where in the end a child is hurt??? No pony ride, no ice cream, some seezeball ass stealing a child's EASTER EGGS!!!!

    What is wrong with you people???? This is the LAST THING this country needs right now. Oh yeah... "oh all the kids got to pet the pony later on." Don't believe it, believe your eyes and your heart. When ALL of their commercials end, A CHILD IS HURT AND FEELING BAD. Watch for yourself, and then if you're man or woman enough to believe in WHAT IS RIGHT --CALL THEM-- and TELL THEM, we will not have this ABUSE. DO IT FOR THE CHILDREN.


  9. Kris says:

    What I am wondering is if anyone knows how Ally handles checking accounts. My current bank uses a practice where they manipulate my paid items, paying large amounts and then returning say...a $7.00 check or withdrawal, charging me almost $40.00 per item. Then, because my account doesn't have enough to cover multiple $40.00 overdraft fees they go back to weeks previous and transactions that have already cleared and begin returning them, again, charging more overdraft fees. This has amounted to 100s of dollars in fees. It seems illegal to me that they create a situation of huge overdraft by all of their overdraft fees and then in the time it takes me to realize what they are doing and transfer funds they have ripped me out of 200.00 to 300.00 dollars. When I call them on this manipulation of funds they say that they were actually doing me a favor by "honoring" my larger withdrawals but in reality, they look for the largest amount and pay that so they can return multiple smaller amounts regardless of the dates of these transactions, if I allow my account to drop even $1.00 to the negative. I do not understand how a bank can pay your checks and then two weeks later if you have insufficient funds again, for say...a $7.00 withdrawal/check the bank goes back and move all the deposits and withdrawals around/manipulates in such a way as to be able to charge the maximal amount of overdraft fees on as many items as they can to get the most charges/income for them. This should be illegal but a U.S. Bank representative told me that there was a lawsuit brought against U.S. Bank and U.S. Bank won! He was arrogant and no matter how I pointed out the thievery, pointed out that I had the money to cover all of these items except one until they started assessing these massive overdraft fees, regardless he would not reverse the charges. I have argued with them enough. I just want to find a new bank and I've heard that Bank of America and others all do this type of fund manipulation too so I've hesitated to go with any other banks either. Does anyone know if Ally does this? I figure if U.S. Bank and others are doing this to all their customers they must be making millions and millions of dollars off all of these "charges". It's a racket pure and simple. If Ally doesn't do that and really is a "transparent" bank, I'd switch to them in a heart beat because I'm tired of having my money stolen.

  10. steven says:

    My wife and I were watching TV, tuned to CNBC. Our 7 year old granddaughter was sitting on the floor in front of the TV playing with toys. I could see that she had watched the ALLY BANK commercial where one of the little boys DOES NOT get an ice cream like the other boy.

    Since she was watching, I asked her how she felt about the commercial. This is what she had to say:


    I said: "How do you feel?" She said "SAD, THERE WAS A LOT OF ICE CREAM." And again asked me why the other boy did not get any ice cream.


    DON'T ACCEPT THIS, ALLY IS HERE ONLY BECAUSE OF ___ YOUR___ TAX DOLLARS. They are so guilty of their conduct, they changed their name. In case you don't know, it is good ole GMAC FINANCING. YES, GMAC. Why the name change??? Anybody?? What were they hiding?

    Please call them and tell them to STOP THE COMMERCIALS WHERE CHILDREN ARE HURT!!! If not, please close your account. Thank you.

  11. Ted says:

    Words can't properly express how upset I am right now at Ally Bank. I am a self-employed computer consultant. I travel 100% of the time and decided to move my account to your bank so I could better manage my finances online from whatever hotel I happened to be in. I was having some trouble with getting a couple of external accounts verified so I chatted with someone at the first of the week. During that conversation, I also requested my debit card be expedited because of my travel schedule and was assured I would receive it before the weekend. I arrived home late Friday night and found no debit card.

    I chatted with one of our csrs name Dale and explained the situation. I was online with him for close to an hour, working on multiple issues. He told me he would have the bank operations team contact me about my external account problem (the Ally website would not let me enter the full account number and truncated it). He also assured me he would Fedex my debit card on Monday so my wife could then activate it for me. He also told me he would email me a form so I could do a wire transfer on Monday, as I need to pay some bills and the account where I have my mortgage, car, etc. automatically deducted from is still at my old bank. I tried moving some funds via online transfer but was rudely awakened to the fact that apparently takes 3-5 business days. So much for the promise of online banking.

    This evening (Saturday), I checked my email account and found no wire transfer form. I contacted another csr (Charlene - partial transcript attached as I got disconnected) and was told a) Ally bank will not expedite a debit card and I should get mine in regular mails, and b) I could not do a wire transfer because the bank had not received my signature card (I had told "Dale" it was in my mail for the week when I got home late Friday night and I dropped in our mail for Saturday morning).

    After an awful lot of cajoling and asking for a supervisor I was finally told the debit card would be fedexed on Monday. But, of course, I still could not use a wire transfer to pay my mortgage & car payment. I asked if the csr could email or fax me another signature card and I would fax it to them when I got to my client site on Monday morning. No dice. Apparently, a faxed signature is valid everywhere in the United States except Ally bank.

    The bottom-line is I have deposited almost 10,000 dollars in my Ally bank account and I can't use any of it to book my hotel for the week (guess I'm sleeping in my car) or pay any bills. Very nice. To add insult to injury, I could have had my wife fedex me the signature card LAST week and fedexed it to you guys if someone would have bothered to tell me. I thought I was being proactive by asking on Monday or so if the debit card could be expedited. The csr at that time also did not say that was impossible, just that I would definitely get the card before the weekend.

  12. Lola says:

    Steven: Really? Are you really flipping over a commercial??? Do you realize those kids are PAID to do those? That their parents got them HIRED TO DO THE COMMERCIAL??? Of all things you complain about the commercial? What a joke and you sound psycho.



  13. steven says:

    My Dear LOLA,

    Could it possibly be you work for the ALLY BANK???

    We can cut through all the crap LOLA, and get down to what your bank's commercials are all about. In the end, the viewer sees that ---A CHILD IS HURT AND UNHAPPY.--- And YOUR BANK IS ONLY HERE BECAUSE OF US, THE US TAXPAYERS --TARP--MONEY. Oh that's right folks... don't forget they had to change their name. Their -real name- is GMAC financing. Why did they feel they had to change their name??? We (all US Citizens) pay for you to disparage children??? How sad is that??

    Was it an "accident" with one commercial??? Did we get the wrong impression??? No... you do it -each and every one- of your commercials. In the end of EVERY ONE OF YOUR COMMERCIALS, A CHILD IS UNHAPPY AND HAS BEEN CHEATED IN SOME WAY. Is that the best you got at Ally Bank??? Picking on our children???

    Shame on you LOLA, for even responding to my post. You know in your heart (no matter how cold it may be) that I am correct.

    TELL YOUR SO CALLED BANK TO STOP ABUSING OUR CHILDREN, FOR THE SAKE OF YOUR ADVERTISING!!! Now I am contacting my senators and representatives because this is our taxpayer money paying for your SHAMEFUL ACTS!!!

  14. Joe says:

    Preamble. I have NOTHING to do with any financial organization what-so-ever. I work for an electronic recycling company and ONLY found this site because I am trying to figure out a way to (A) improve my credit score & (B) save my mortgage due to my fiance losing her job. I just have this tendency to agree with people criticizing some organization over their marketing ploys. There have been many, extremely condescending, and boring ads that abuse the intelligence of of many people with common sense.

    In regards to the ads that "abuse" children, they are basically comparing all of us to how a child feels whenever they do not get what they are promised. We are the "children" promised many things that are never delivered. I'm not sure that it is an actual abuse since they are actors that are paid (with parental consent, as Lola mentioned) and no child is actually being hurt. It is simply a metaphor. We ALL remember how we felt when what we were promised never got delivered. It was always so much worse feeling when we were children. This happens all the time and the only reason why it doesn't "feel" so bad to us as adults is due to the fact that we become jaded over time. It is merely a marketing ploy that doesn't actually hurt people. Sheesh. Do people really believe EVERYTHING they see on TV as being REALITY?

    While I do find these commercials somewhat offensive, there have been many other commercials in my lifetime that I have found even more so offensive. I do not hold them with any higher or lower regard than others, however I do have to respect the level of metaphorical truth they portray. We, as consumers, are OFTEN lied to with misrepresentation of terms and conditions that very often get "modified" without our agreement. Often times they are dictated to us in a manner that requires us to either accept these changes or be denied completely. That's given the premise that we're even given the ILLUSION that we have a choice in the first place.

    The commercials are comparing other companies tendency to change what we receive compared to what they promised and they are merely relating it to how children feel when parents or other significant role-models do that to them.

    While I have no experience if what they are claiming about themselves is true (i.e., the implied promise that they will NOT renig on their promises for ANY reason) or not is besides the point.

    Aren't we all sick and tired of having way more limited play space than promised?

    Why not allow them time to either hang themselves or prove themselves. If they deliver what they promise, who really cares how they delivered the message. If they fail to do so, then crucify them.

    Either way, it's time for a change and I have to respect that they're at least appearing to be attempting to deal with the way things are in reality vs. sugar-coating it so that we will only be disappointed later. While I feel I have to respect this, I am always skeptical with the tendency to give people the chance to prove me wrong.

    Do something with this Ally, just don't turn out to be "new boss, same as the old boss." I'm really getting tired of the status quo.

  15. Stan says:

    Alot of trolls on this website....

    Ally bank may be slow setting up the account, but mostly the bank is a supplementary bank.

    I bank with BOA and Ally. I still use my regular checking with BOA for day to day transactions but I transfer a majority of my savings to my Ally MM account.

    PS. Keep in mind most of these comments are biased. Either really happy with the bank or pissed the hell off and need to rant.

  16. Joanie says:

    My experience with Ally Bank has been less than satisfactory. I had a one year CD with them. No problems there. At the end of the year I decided to keep the money in place for another year and added additional monies to the original amount. At that same time I opened an online saving account. Long story short, Ally completed the transfers into the CD and online saving account and then took an additional $20,000 from my account, which I didn't authorize. I discovered this when I checked the account from which the funds came. The money wasn't there, but it didn't show up in the Ally account either. My current bank told me that the transfer had been initiated from Ally, but when I called Ally, no one could tell me anything. After 24 hours, my money did finally show up at Ally, but to date, no one at Ally has been able to give me a satisfactory answer as to why the transfer ever took place at all. They keep telling me it was initiated by me, but it wasn't. I am in the process of closing my online account with Ally, and when my CD matures, I'll be moving that money too. I'm steering clear of Ally Bank.

  17. Raymond Navarro says:

    I opened a No Penalty CD online with Ally Bank on Sept. 10, 2010. But when I closed it on Jan. 3, 2011, I could not get my money back in my checking account with Chase.
    Something must be wrong with this bank. Everytime I follow up with the Customer Service, I get a different alibi for the delay in remitting my money. There must be something fishy about this bank and must be investigated before it is too late.

  18. Phil says:

    Ally Bank is really scary. I'm trying to get my money out of my online savings account so I can close on my new home, and they seem to be trying to stop me. I scheduled a $150,000 transfer from Ally to my bank checking account, and their website accepted my request, but then on the date the transfer was scheduled to happen they sent me an email saying that my requested transfer exceeded the $150,000 daily limit (which of course is not the case, $150,000 IS the limit). When I called and pointed out their error, then they scheduled a $150,000 transfer from my checking account to Ally instead of vice versa. Now my checking account is overdrawn, I can't close on my house, and Ally claims they can't guarantee when I can have my money. They say they will reimburse me for any bounced check fees I incur in the meantime, but something tells me that will never happen. I'm trying to figure out if there is some governmental authority that I can complain to that will stop these abuses.

  19. ap123 says:

    I have been with Ally for about 2 years now. I have not had any real problems like others may have. My accounts with them are just generally set and forget about it. Or the occasional transfer from Savings to my outside checking account. I have about 10 CDs with them, 2 savings account and 1 Checking. I started off with the CDs with them, and that seemed to be a real hassle or made difficult by them. Basically I was just making a bit of a CD ladder every month or so. The first CD I opened with them, they required the usual, driver license and a bill to prove your identity to be faxed. Okay no big deal, did that. But when I opened the rest of the CDs by logging in and going to open account, they would require the same information to be resent over and over again. By this time I probably had a a few CDs, a savings and checking. Then I called them and said hey I have sent this information multiple times and that I have multiple accounts. They dont seem to have a good answer. I have been with ING now Capitalone360 since 2006. I have had several CDs, Savings and checking with them, never any issues. Infact I have had never had to even call customer service because I have been able to control my account with the click of a button, isnt that the point of online banking?

  20. mikeycctx says:

    I have had my checking account with Ally for a couple of years. Previously I had accounts with Bank of America and local banks. All I have is my checking account for my social security and annuity and my balance drops below $10 many times. I have never been charged any fees, and I once accidentally overdrew my account. I contacted them immediately to let them know it would be covered in 1 day. They treat me with respect and it is a pleasure to talk with every time I have called. Banks I have used in the past treated me like I was a pest. Being able to talk to a human being by chat or on the phone at 3am is a plus.

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