19 comments. Apply Now. The Betterment robo-advisor is their original claim to fame. Here's everything you need to know about its minimum balances, fees and perks. The bank started out in 1919 as GMAC, General Motors’ finance division. Ally Bank CD Rates . Never worry about maintaining a minimum monthly balance. But in 2009, the company rebranded as Ally Bank, an online-only banking institution that offers everything from checking and savings accounts to home and auto loans to investment accounts. On the other hand, Ally Bank offers high interest rates on their savings as well as … Meanwhile, the lower 0.10% APY rate tier on Ally Bank’s Interest Checking account, which applies to balances less than $15,000, earns less than the national average. 24/7 customer service. $10/mo None Looking for personal CD rates? CD Rates > Apply Online. Earns interest with your checking account, and your rate increases with a daily balance of $15,000 or more. Monthly Fees. There is no minimum balance required to open a checking account or savings account with Ally. Ally's high-yield savings account offers a competitive APY with no required initial deposit or minimum account balance, and there are no monthly fees. These fees are relatively common at traditional banks, though fees and amounts will vary depending on which bank or credit union you choose. User Interface. ATMs. Some accounts may have balance requirements to earn a … hide. Ally’s roots go back to 1919 when it started out as GMAC, the finance arm of automaker GM. APY 1. But if you maintain that minimum balance, you’ll be able to earn interest as well as enjoy the cash back perks. You’re Looking for Lucrative Savings Options. Free checks. 70% Upvoted. Ally Bank’s MMA earns either 0.50% or 0.50% APY, depending on your balance, while Synchrony offers 0.50% APY on all money market balances. Monthly Fees. Minimum Balance to Earn APY. No minimum balance. Unlike the Ally Bank savings rate, which is applied to all tiers of deposits in an Ally savings account, Chase Bank has different interest rates for different Chase Plus savings account balances. The minimum balance to open a Ally Bank Online Savings Account is $0. No balance requirements – None of Ally’s bank accounts have minimum balance requirements. Want to Review More? They offer different types of banking services depending on your needs – from personal checking to investment options like CDs. Sign in or enroll to access Ally Online for bank or invest products - accessible on desktop, tablet or mobile devices with your Username and Password. 6 years ago. Interest Rate. Ally Bank waives ATM fees at Allpoint ATMs nationwide too. Ally customer representatives are always available. The bank rebranded in 2009 as Ally Bank, a straight-talking online bank. Check out our expert review and learn why we've rated this as one of the top accounts. Open an account in under 3 minutes—right now, wherever you are, on any device! This account has no minimum balance requirement and provides you with unrestricted access to your money. save. But you’re looking for a convenient, one-stop-shop for all your online banking needs, then Ally is an excellent choice for you to consider. Schwab. Get free standard checks with your Ally checking account. Ally Bank does not charge account maintenance fees and no minimum balance is required to open. Neither bank charges excessive fees — no account maintenance fees or minimum balance fees, for example. There are no monthly fees. Annual Percentage Yield (APY) accurate as of 01/19/2021. Ally Bank boasts a wide shelf of trophies, including best bank and best online bank awards from organizations such as MONEY Magazine and Kiplinger’s. Similar to how Ally bank got started with auto loans, these companies often dominate one product and then expand elsewhere. I recently opened an Ally Bank Interest Checking Account. In addition to requiring no minimum account balances, Ally also has zero monthly maintenance fees. Find the Best High Yield Saving Account. These rates are better than the national average checking account rate of 0.04% . Find out why in our in-depth review. best. 0.00% 0.10%. And you can use any ATM for free because Ally charges no … Ally Bank Online Savings Account is a convenient, on-the-go banking option. No debit card or ATM access. They don't have any brick and mortar costs since they're an online bank. The Ally Online Savings Account has no minimum balance, no monthly fees, and currently pays 1.45% APY (as of 4/2/18). Betterment has disrupted the traditional financial advisor industry in a major way. No minimum deposit or balance requirements. Check out its latest awards here. 0.00% 0.10%. You do not need … What should I look out for? report. New comments cannot be posted and votes cannot be cast. No monthly maintenance fees. There’s no minimum deposit to make, no monthly maintenance fees and no minimum balance requirements. As of this writing, Ally Bank will pay a 0.1% APY on checking accounts with less than a $15k minimum daily balance. This Internet bank won't charge you monthly maintenance fees or require you to keep a minimum balance. Ally Bank has been around for over a century — but you probably didn’t hear about it until the last decade. Variable interest rates. Here's a look at the bank's different account types, features and rates. There’s plenty to like about Ally Bank: Great APY for savings accounts. The bank was chosen for its competitive annual percentage yield (APY) and no monthly maintenance fees or minimum balance requirement. Ally charges no minimum balance fees and no monthly maintenance fees. Pros. Ally Bank offers one checking account. share. APY. Compare the online banks to see which could be best for your money. 4.2. The Ally Online Savings Account offers an APY of 0.60% (as of Nov. 6, 2020), while the average APY for a traditional savings account is 0.05% (as of Nov. 6, 2020). MIDVALE, Utah, Jan. 9, 2017 /PRNewswire/ -- Ally Bank, the direct banking subsidiary of Ally Financial Inc. (NYSE: ALLY), has been named the Best Online Bank of 2017 in GOBankingRates' fifth annual rankings. Minimum Deposit. $0. In addition to having no minimum balance requirements, the Ally Bank Money Market Account also offers no monthly maintenance fees. Of course, there is no perfect banking option. Ally Bank account holders have access to over 43,000 fee-free Allpoint ATMs, but even then you may want to use an ATM from a different provider. Interest savings are deposited into your savings account each month. Their interest rates may not be the absolute highest, but they have consistently been within 0.10% of the temporarily top banks, making it not worthwhile to move my money. There is no minimum balance or opening deposit. Annual Percentage Yield (APY) accurate as of 01/19/2021. Ally Premium Bank Current Account is a transactional account that allows you the freedom to manage your money the way you desire. Android App Rating. 0.03%. And the bank charges limited fees. In this Ally Bank review, we will ... With no monthly fees and a $0 minimum balance requirement, this saving account is well suited to meet your financial needs. As noted above, Synchrony doesn’t offer a checking account. (See my rate chaser calculator). You can open this account with as little as $0 with no minimum balance. You get free checks and a free debit card after you make an initial deposit. level 1. Not impressed by it at all and thinking of moving to Ally. TD Bank is located on the East Coast with 1,300 locations offering low minimum balance requirements as well as extending banking hours with a 24/7 customer service by phone. Let’s go through the important factors. Virtually unlimited . Ally Bank’s Key Features and Services. Ally Bank is an online-only bank offering competitive deposit accounts and other financial services. With jaw-dropping APYs, minimal fees, and no account minimums, Ally Bank is one of our experts' favorite online banks. Checking accounts that hold over $15k will be paid 0.6% APY. Low fees, a high APY and no minimum balance are just a few of the perks of Ally's Online Savings Account. Sort by. For this premium plan, you will need a minimum balance of $100,000. $10 $5,000. Once your Ally Bank savings account is open, you can set up buckets to organize your savings and deposit certain amounts towards items like home … One of Ally Bank checking account's main strengths is the high-interest rate offered to customers. 4.8. The Ally Interest Checking Account is one example of a great checking account from an online bank that comes with an above-average APY that's up to … Minimum Balance. This thread is archived . Ally Bank Online Savings Account Account Minimums; Description; APY Minimum Balance: $1: Minimum Initial Deposit: $0: Minimum Combined Balance to Avoid Monthly Fee: $0: Minimum Required Balance: N/A: Minimum Account Transfer to Avoid Monthly Fee : N/A: Minimum Direct Deposit to Avoid Monthly Fee: $0: Minimum Balance … Your money earns money with interest compounded daily. Ally and Synchrony can earn you more interest than you'd get with a traditional bank. There are no ATM fees, and if you do get charged an ATM fee they will reimburse you. Ally pays a 0.10% APY for account balances under $15,000, and 0.25% for balances over $15,000. Ally Bank Products Ally Bank's line of banking products includes checking, savings, CD and money market accounts. … $0. Better yet, Ally’s online saving account compounds interest daily, so you end up getting a better bang for your buck. You can’t withdraw cash at ATMs. iOS App Rating. You also don’t need to keep a balance to retain the account. 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