Transfer Mone
  • Home
  • Checking Account
    Checking AccountShow More
    Ally Bank Checking Account
    Best Ally Bank Checking Account Reviews
    December 8, 2022
    chase college checking account
    Chase College Checking Account | Fees, Bonus, Eligibility
    November 28, 2022
    Chase Checking Account Bonus
    Chase Checking Account Bonus 2023
    November 25, 2022
    U.S. Bank checking Account
    U.S. Bank Checking Account Reviews
    November 19, 2022
    Golden 1 Checking Account 
    Overviews of Golden 1 Checking Account 
    November 7, 2022
  • Online Banking
    Online BankingShow More
    best personal loans for fair credit
    Best Personal Loans for Fair Credit 2023
    January 7, 2023
    bank promotions without a direct deposit
    The 9 Best Bank Promotions Without Direct Deposit Requirements
    December 5, 2022
    Zero Interest Personal Loans
    Best Ways To Get Zero Interest Personal Loans
    December 1, 2022
    Wells Fargo Personal Loans
    Overviews of Wells Fargo Personal Loans
    November 16, 2022
    Best Low-Interest Personal Loans
    Best Low-Interest Personal Loans Reviews
    November 13, 2022
  • Money Transfer APPs
    Money Transfer APPsShow More
    capital one ach transfer
    The Best Way For Capital One ACH Transfer Process
    September 18, 2022
    Walmart Accept Apple Pay
    Walmart Accept Apple Pay – Is It Really True
    August 28, 2022
    How to Add Cash to Cash App Card
    How to Add Cash to Cash App Card – The Best Guide For You
    August 22, 2022
    cash app instant transfer fee
    A Key Discussion On Cash App Instant Transfer Fee
    July 25, 2022
    jpay send money to inmate
    JPay Send Money To Inmate – The Entire Method
    June 29, 2022
  • Credit Union
    Credit UnionShow More
    credit unions in georgia
    5 Best Credit Unions in Georgia 2023
    January 27, 2023
    Credit Union in New Jersey
    Best Credit Union in New Jersey 2023
    January 19, 2023
    Best Credit Unions in Washington
    Best Credit Unions in Washington 2023
    January 14, 2023
    TD Bank Secured Credit Card
    The Best TD Bank Secured Credit Card & Alternatives
    October 27, 2022
    Huntington Bank Credit Card
    The Best Huntington Bank Credit Card Reviews 2022
    October 18, 2022
Search
© 2022 Transfer Mone. All Rights Reserved.
Reading: Best Ally Bank Checking Account Reviews
Aa
Aa
Transfer Mone
Search
  • Home
  • Checking Account
  • Online Banking
  • Money Transfer APPs
  • Credit Union
© 2022 Transfer Mone. All Rights Reserved.
Transfer Mone > Checking Account > Best Ally Bank Checking Account Reviews

Best Ally Bank Checking Account Reviews

December 8, 2022

Ally Bank is a financial institution headquartered in Detroit, Michigan. It provides financial services, including car finance, corporate lending, online banking through a direct bank, mortgage loans, vehicle insurance, and an electronic trading platform to buy and sell financial assets. Ally is among the largest car finance institutions in the U.S., offering car financing and leasing for more than four million customers and producing 1.4 million car loans yearly. In today’s article, I will major in the Ally Bank checking account. 

 For your information, Ally Bank is among the largest banking institutions in the United States by assets. It has about 2.0 million depositors, with more opening accounts daily. Its electronic trading site has about 350,000 funded accounts. Among the most operated bank accounts are checking accounts that allow you to keep finances for your daily expenditures. Checking accounts help you to keep funds secure.  

Additionally, checking accounts allow you to keep money needed for emergency uses. Instead of keeping funds in your house and risking it to thieves, fire, flood, and any other disasters, keeping them in your house is safe. Furthermore, you can conveniently access the funds using an ATM card, online, or through a mobile application. Businesses are now accepting electronic payments more than ever before.  

Features of Ally Bank checking account

Ally Bank Checking Account

The account has numerous features, which include the following.

  1. ATM access using your ATM card at any time of the day. 
  2. Remote check deposit using your mobile banking app.
  3. Ability to earn interest on your checking account.
  4. Overdraft protection
  5. Early direct deposit

Opening process an Ally Bank checking account

Ally Bank offers a checking account known as Interest Checking Account. You can open your checking account at Ally Bank in a simple manner. You only need to visit the Ally Bank website and navigate to the product page, then select the type of account you need to open. For our case, you will select a checking account and tap the “Open Account” button. Next, you should enter your personal details and choose the terms and the most preferred funding options you prefer. After that, you will receive an email once they approve your application. 

You can also apply for a checking account online by calling customer care at 1-877-247-2559 27/7. You can also apply for an account by mail by downloading an application from the section of your form and sending it to the address on the application page.

Things needed to open the Ally Bank checking account 

Various documents are necessary when opening your checking account at Ally Bank. These include the following. 

  • Your Social Security Number. Alternatively, you can provide a tax identification number.
  • Your legal name
  • Your street address
  • Your birthday

You may also need to supply additional documents when needed. That can happen if you change your names and never make them official, for example, after marriage. The bank may request the following documents. 

  • Your Social Security card
  • Your driver’s license
  • Proof of U.S. residency or citizenship.

Ally Bank checking account fees

Most bank accounts charge monthly fees, withdrawal fees, foreign transaction fees, etc. However, Ally Bank’s Interest Checking Account does not charge those fees. There are no;  

  • Overdraft item fees
  • Monthly maintenance fees
  • Low daily balance fees
  • Official/cashier’s checks
  • Standard or expedited ACH transfer fees
  • Incoming wires (domestic and international) fees
  • Postage-paid deposit envelope fees
  • Copies of online statements fees

However, you have to part with returned deposit item fees of up to $7.50. You also need to pay expedited delivery fees of around $15. Outgoing domestic wire fees can go up by $20. The account research fee is $25. 

How much money do you require to open a checking account

Some banks require you to deposit some money when opening an account. However, Ally Bank does not require depositing money when opening your account. Interestingly, Ally Bank does not require you to fund your checking account with any specific amount. However, depositing some amount in your account is recommended to keep it active. You can deposit between $20-$25. Also, you can set up a direct deposit to receive your salary payments from your employer every month. 

Pros of the Ally Bank checking account

There are various advantages associated with Ally Bank checking accounts. They include the following.

  1. There are no fees for various transaction activities. For example, no overdraft fees, incoming wires, and official/cashier’s checks. 
  2. Easy account opening online since you can open an account online using your phone or computer. You can even call the bank to open an bank account.
  3. You can access your fund easily through ATMs and online.
  4. No minimum balance requirements. Therefore, you can open your checking account with any amount. Again, the bank does not penalize you or impose charges based on your balance.
  5. FDIC-insurance. Your funds will remain intact even if the bank collapses since FDIC insures them. 
  6. Deposit checks remotely. Ally bank has an eCheck Deposit feature that allows you to deposit checks from your smartphone. You only need to snap a photo to deposit.
  7. Debit card. The bank gives you a Mastercard debit card that you can utilize to withdraw finances from ATMs and shop online and at physical stores.
  8. Its checking account earns interest. Your funds will not just lie idle in your account. 

Cons of Ally Bank checking account

Even though the bank has numerous advantages, there are disadvantages too. These include the following. 

  1. Fees on transactions such as expedited delivery and outgoing wires.
  2. No cash deposits. You can only make online deposits, direct deposits, wire transfers, or remote check deposits.
  3. No brick-and-mortar services since the institution operate online. Therefore, you need to get one-on-one assistance from bank officials.

Bottom line

Ally Bank is a financial institution headquartered in Detroit, Michigan. It provides financial services such as car finance, corporate lending, online banking through a direct bank, mortgage loans, vehicle insurance, and an electronic trading platform to buy and sell financial assets. The Interest Checking Account is among the best checking accounts for your transaction needs. The account has fewer fees and allows you to carry out various transactions online.

You Might Also Like

Chase College Checking Account | Fees, Bonus, Eligibility

Chase Checking Account Bonus 2023

U.S. Bank Checking Account Reviews

Overviews of Golden 1 Checking Account 

The Remarkable Overviews Of TD Bank Checking Account 

By Spencer Tierney
Follow:
Spencer Tierney is a writer and expert on certificates of deposits at transfermone.com. His work has been featured by USA Today, MSN, SF Gate, the Los Angeles Times, NerdWallet and more. He earned a bachelor’s degree in English at UC Berkeley.

© 2022 Transfer Mone. All Rights Reserved.

  • Home
  • Privacy Policy
  • About Me
  • Contact
Welcome Back!

Sign in to your account

Lost your password?