Quick Answer: Is Ally Bank Good For Savings?

Ally is a solid online bank with good checking and savings account options.

And with its savings account, monthly transaction No.

7 and following will be charged a $10 fee.

But if you want to park your money in a savings or even checking account hassle-free, this is a good solution for you.

Is Ally a good savings account?

Ally Bank should appeal to most consumers who want an online bank account. It may be a particularly good fit for customers who want to: Earn a competitive return on savings. Open a savings account with no minimum balance requirement.

Can Ally Bank be trusted?

Online banks know they’re a hacking target and work hard to keep their – and your – assets safe. Ally uses multiple forms of encryption on its accounts and monitors them regularly. As an FDIC-insured bank, Ally will make good on your deposits with the help of the federal government.

Which is better ally or Capital One 360?

These accounts are better than most

But there are slight differences: Capital One 360 offers a higher rate for balances below $15,000, while Ally is a better option for those looking to use out-of-network ATMs every now and then.

Is Ally savings account free?

Lowest fees: Ally

Ally’s Online Savings account is completely free. That means no monthly service fees, no maintaining a minimum balance, and no paying for ACH transfers. On the other hand, most traditional savings accounts come with a monthly fee.

Who is Ally Bank owned by?

Ally Bank History

Ally is the reincarnation of GMAC which was a financing company owned by General Motors.

Does Ally Bank have ATMs?

With ATMs, Ally Bank does not charge a fee and Ally will reimburse ATM fees of $10 each statement cycle. They use the fee-free Allpoint ATM network and their 43,000+ network. Many banks don’t reimburse customers any amount when using other ATMs.