Ally Bank Review 2025
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Edited by
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At a glance
Best bank overall
Overview
Ally Bank is ideal for consumers that are comfortable solely banking online, and those interested in consolidating their banking under one roof. The bank offers a full suite of deposit products, along with loans and credit card services and 24/7 customer service.
Highlights:
High APY ATM Fee Refunds Low Min DepositHighlights:
CDs
Checking
Savings
MMA
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.2/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
Ally Bank is a one-stop shop for online-only banking customers. It offers a consistently strong yield on its savings account, money market account and certificates of deposit (CDs). It is a part of a large fee-free ATM network, and its spending (checking) account reimburses up to $10 worth of out-of-network ATM fees each statement period.
Pros
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Competitive APYs across savings, money market and certificates of deposit products.
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The bank offers deposit accounts with no monthly maintenance fees or minimum opening deposit requirements..
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Ally Bank lets customers access more than 75,000 ATMs through the Allpoint network.
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Customer service is available 24/7.
Cons
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Cash deposits aren't accepted.
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You can’t send an international wire transfer from Ally Bank.
Ally Bank products
Ally Bank Savings Account
Pros
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Ally’s Savings Account pays the same strong annual percentage yield (APY) across all balance tiers.
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The account doesn’t have monthly maintenance fees or minimum balance requirements.
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The digital account offers multiple helpful savings features.
Cons
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Cash deposits aren't accepted.
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Limit of 10 transfers/withdrawals per statement cycle (though there’s no fee for exceeding the limit).
Ally’s savings account offers a unique set of helpful savings tools. For example, you can divide your savings into “buckets” to help you organize your money for different savings goals. You can also turn on a feature called “Surprise Savings” which analyzes your linked checking accounts to find money you can safely save (without putting you in danger of overdrawing) and then automatically transfers it to your savings for you. Or you can get your debit card transactions rounded up to the nearest dollar and the difference transferred to your savings.
Bankrate's take
Ally offers a high-yield savings account that is consistently competitive. It doesn’t offer the absolute highest APY, but it is usually around the top-tier rate and it offers unique savings features that could help you build or maintain a savings habit.
Yuliya Goldshteyn
Editor, Banking
Rate history for Ally Bank's Savings account
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Ally Bank High Yield Certificates of Deposit
Pros
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There is no minimum deposit required to open a CD.
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Multiple types of CDs are available.
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Early withdrawal penalties are less harsh than at other banks.
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Rates on all CDs are well-above average.
Cons
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The no-penalty CD isn’t available as an IRA CD.
CDs at Ally Bank come in four different flavors: high-yield CDs across multiple terms, two bump-up CDs and an 11-month no-penalty CD; the high-yield CDs and bump-up CDs are also available as IRA CDs.
Ally offers a unique feature for those who renew a CD with the bank: a 0.05 percent APY increase on top of the offered rate at the time of the renewal.
Rate history for Ally Bank's CD accounts
See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
Ally Bank Money Market Account
Pros
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The Ally Money Market offers a strong APY.
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The account includes a debit card and checks.
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Account holders are reimbursed up to $10 per statement cycle for fees at non-Allpoint ATMs.
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There’s no minimum deposit required to open the account.
Cons
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Cash deposits aren't accepted.
Ally’s money market account pays a relatively strong yield and doesn’t have a minimum balance requirement to earn interest, whereas money market accounts often have tiered APYs and only pay higher APYs on higher balances.
Ally Bank Spending Account
Pros
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Customers can earn a little bit of interest on any daily balance.
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There is no minimum deposit required to open the Spending Account.
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There are no monthly fees.
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Standard checks are free with this account.
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Ally doesn’t charge overdraft fees.
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You can get reimbursed for $10 worth of out-of-network ATM fees each statement period.
Cons
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Ally doesn’t accept cash deposits.
Ally’s Spending Account — the bank’s sole checking account — is a solid account all around. With this account, you’ll earn a bit of interest and won’t pay maintenance or overdraft fees. Ally also offers two forms of overdraft protection. One is CoverDraft, which provides up to $250 in temporary relief for overdrawn transactions. The other is overdraft transfers, which automatically transfers money from a linked Ally savings account to cover any overdrafts.
How Ally Bank compares to other banks
Compare different account types offered by Ally Bank. Annual percentage yields (APYs) shown were updated between Oct. 22, 2025 and Oct. 28, 2025.
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Selected bank
Ally Bank savings account
Bankrate score
4.4
Bankrate Savings rating = 4.4/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Most comparable
Capital One savings account
Bankrate score
4.4
Bankrate Savings rating = 4.4/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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Bankrate score
Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Oct. 22, 2025 and Oct. 28, 2025.
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| 3.40% | 3.40% | |
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Minimum balance for APY
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| $0.00 | $0.00 | |
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Estimated earnings
Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
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| $1,700 | $1,700 | |
| Ally Bank consistently offers a competitive yield on its Online Savings Account. The online bank doesn’t have the absolute highest yield, but it offers a competitive one and doesn’t have a minimum balance requirement or a monthly service fee. The bank offers mobile deposit, but you’ll need to transfer money to the Ally checking account or money market account if you want to access money in your savings from an ATM. | Capital One’s 360 Performance Savings Account earns a competitive yield. It doesn’t require a minimum opening deposit and you won’t pay a monthly service fee with this account. Capital One is one of the few online banks that you can visit at a branch location to withdraw cash. | |
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APY offering:
3.40%
4/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum balance for APY:
$0.00
5/5
The lowest deposit amount an account must have before it can earn interest.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account if certain requirements are not met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain in order to avoid a fee.
Access to funds:
Good
4/5
A procedure that allows an individual or organization to access and manage the funds of another account holder.
|
APY offering:
3.40%
4/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum balance for APY:
$0.00
5/5
The lowest deposit amount an account must have before it can earn interest.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account if certain requirements are not met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain in order to avoid a fee.
Access to funds:
Good
4/5
A procedure that allows an individual or organization to access and manage the funds of another account holder.
|
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
The lowest deposit amount an account must have before it can earn interest.
A monthly charge a financial institution deducts from an account if certain requirements are not met.
The lowest balance an account must maintain in order to avoid a fee.
A procedure that allows an individual or organization to access and manage the funds of another account holder.
Bankrate does not currently track additional product details for this bank.
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Bank fees
| Fee | Charged? | |
|---|---|---|
| Overdraft fee | None | |
| Non-sufficient funds fee | None | |
| Account maintenance fees | None | |
| Out-of-network ATM fee | None | |
| Excessive transaction fee | None |
Customer experience
Customer support
24/7 support is available. Ally Bank has no branches, but retail bank customers can speak with a representative over the phone 24 hours a day, seven days a week. The website even lists the current wait time to get connected with a representative before you make a call. You can also log in to your account to chat with a representative or send a secure message.
High overall customer satisfaction. Ally Bank ranked highly in overall satisfaction among online-only banks for both its checking and savings products, according to J.D. Power’s 2025 Direct Banking Satisfaction Study. The bank ranked third among checking providers and fifth among savings providers.
Digital experience
Highly rated mobile app. The Ally Bank mobile app has a high rating on iOS and Google Play.
Robust help center and transparent website. Ally maintains a customer-friendly website that shows the most relevant information — such as rates and fees — prominently for each product. It also has an extensive help center, which can assist current and prospective customers in getting answers to their questions without having to connect with a representative.
The FAQ menu system is easy to navigate and prominently displays important forms you may need during the application process. There’s also an FAQ section at the bottom of each product page. Moreover, the search function does a great job of finding relevant information based on the keywords you enter, including information on fees and helpful articles breaking down banking basics.
Short helpful how-to videos. Ally features how-to videos on its website and mobile app, which break down Ally’s banking tools. For example, these videos will show up next to Ally’s buckets, recurring transfers and round-up tools, which are all features to help grow your savings.
The above images were last updated on May 21, 2024.
Bankrate staff insights
Where did this quote come from?
Our focus at Bankrate is on delivering accurate content and the right context for making well-informed financial decisions.
We gather real quotes from real people through surveys, interviews, and testimonials from Bankrate staff and consumers like you who have actual experience with these products. We then hand-pick what to feature to ensure credibility and relevance.
Disclosure: To enhance our product reviews, Bankrate employees often open accounts and provide feedback. They may have been compensated for their time and account maintenance, but this does not affect the integrity of their review.
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Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
