Ally Financial Inc. (NYSE: ALLY) is a leading digital financial services company. I contacted Ally Bank to let them know that his car was at our house and he had passed away. How Much Do I Need to Save for Retirement? Ally Bank is a part of the Allpoint Network. Ally Bank is a trusted and safe bank. This means if Ally Bank defaults, the federal government guarantees the balance in your deposit accounts, up to $250,000 per account. Why Ally Bank is Safe. Ally Bank is an online-only bank offering competitive deposit accounts and other financial services. If you’re looking for a car loan, it’s an option that is well worth checking out. It asked me for SSN only. Ally bank used to be GMAC bank and is very reliable. sorry i meant the application process. Most likely, the FDIC will sell the bank’s assets to another bank, so your account would simply be housed elsewhere. I would only concern myself with the banks finances if I were to deposit over the FDIC insurance amount. Plus, Ally offers dedicated banking and credit card customer service teams available 24/7 should you need. For those with interest in options the broker is even better choice, due to its specialization in this trading vehicle. The FAQ page also offers a host of helpful information. Ally also employs several privacy protection measures to combat the risks that come with the internet. New comments cannot be posted and votes cannot be cast, Important Information About Opening a New Account, More posts from the personalfinance community. As an FDIC-insured bank, Ally will make good on your deposits with the help of the federal government. Ally Bank Review Bottom Line. If you’re worried about the security that Ally Bank can offer, you don’t need to worry. Photo credit: ©iStock.com/cnythzl, ©iStock.com/Eva-Katalin, ©iStock.com/Wavebreakmedia, Bank of America® Travel Rewards Visa® Credit Card Review, Capital One® Quicksilver® Cash Rewards Credit Card Review, The Federal Deposit Insurance Corporation, 7 Mistakes Everyone Makes When Hiring a Financial Advisor, 20 Questions to Tell If You're Ready to Retire, The Worst Way to Withdraw From Your Retirement Accounts. For one, the The Federal Deposit Insurance Corporation (FDIC) insures Ally Bank and its deposits up to the maximum, federally designated limit of $250,000. If you prefer online banking and want to get access to loans, high-yield deposit products and credit cards, this is a good solution for you. Find out how Ally Bank is rated and compare its account fees, read customer reviews, and latest bank accounts rates.. Or there might be a high net worth individual who needs to transfer $1,000,0000 at a time. If you really value face-to-face time with a banker and physical paperwork, it may not be for you. ALLY Bank ALLY is a scam and a ripoff Internet *UPDATE EX-employee responds : You are not alone in your complaints about Taxpayer Owned Ally Bank Print this Report Ally’s online chat service is reliable and even lists estimated wait times so folks can get on with their day if the virtual line is too long. The easiest method may be finding the type of account you want to open on the website and clicking “Open Account.” Once you enter your information, including your Social Security number, email address, mailing address and date of birth, you’ll be able to fund the account. Good rates & FDIC insurance at Ally Bank ---- I let them in my cave. Ally Bank's mobile banking app is available for Apple and Android phones. Ally Invest is a great all-around brokerage account because of its $0 minimum and commission-free trades on stocks, options, and ETFs. In addition, customers are not forced to make a certain number of transactions per month or per quarter in order to avoid fees. You can reach a representative by phone, over email or through the onsite chat platform. 1 decade ago. Ally Bank also offers free Webroot® SecureAnywhere™ anti-virus and anti-malware software. It’s a bank with a very interesting history that we’ve recently reviewed. Ally Bank, the company's direct banking subsidiary, offers an array of deposit, personal lending and mortgage products and services. In fact, Axos does away with many fees by offering checking and savings accounts with no monthly service fees. report. Ally Bank may not have branches like a traditional bank, but it does follow the same rules and regulations as big names like Chase or Citibank. With no minimum, association with a great bank in Ally Bank, it's a good place for any investor looking to start investing. i wonder if people are often unaware that Ally is GMAC, and changed their name ten years ago. As we mentioned, Ally Bank operates completely online at ally.com. Do you suspect fraud? My wife and I spoke with over 10 people over the next 4 months, and not one expressed any sympathy our loss, and it was obvious they could care less. I still keep a Bank of America account for quick ATM access, despite Ally’s ATM reimbursement program, but I keep that around because of inertia more than any other reason. One article even said it was the leader of online banking, but I saw that its BBB rating was only C+. Ally Bank is an industry leader in online banking and high yield savings accounts. You can do that, too. The easy-to-use mobile app and innovative customer service offerings don’t hurt either. This means you never have to wait in line at a branch, file paper statements or wait to access your funds. To help the U.S. government fight terrorism and money laundering, federal law requires us to obtain, verify and record information identifying each person opening an account. How reliable is Ally Bank? Ally Bank has a very reliable customer service support, which is available 24/7 via phone, live chat, and email. Because Ally Bank is not a traditional bank, it has no physical branch locations, which could be limiting for consumers who prefer in-person banking. Sort by. It offers not only security but also some peace of mind. Ally’s customer service is very dependable that in fact, it has earned second place in the 2019 J.D. save. Though if I recall right, after you set up the account they do ask for a photo copy of your ID. You can either link a non-Ally account and transfer money electronically, mail a check, use its patented eCheck Deposit™ system for a mobile deposit or set up a wire transfer. You can link up to 20 external accounts to your Ally account. Is Ally a safe bank? You can rest assured that your funds (up to $250,000 per depositor) are backed by the U.S. government. Right on their website. Ally Bank has been in business since 2009, serving consumer banking needs. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Ally’s roots go back to 1919 when it started out as GMAC, the finance arm of automaker GM. They’ve been around for a very long time. 0 0? It is also ranked among the top 20 US banks with the most robust and most reliable asset base. Of course, Ally won’t be the right bank for everyone. 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