SuperMoney
Ally Bank Interest Checking
in Checking Accounts from Ally Financial, Inc. · Member FDIC
Claimed

Ally Bank Interest Checking

Claimed
in Checking Accounts from Ally Financial, Inc. · Member FDIC
SuperMoney Net Recommendation Score +64  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +64, equating to 4.3 on a 5 point rating scale.

+64

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

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Highlights
Community Rating Strongly recommended
Cashback Rewards N/A
APY (Annual Percentage Yield) 0.10% - 0.25%
(Verified 06/01/2023)
Monthly Fee $0
(Verified 06/01/2023)
Minimum Balance to Avoid Monthly Fee Starting at $0
Number of Reviews 14

Ally Bank Interest Checking Review

Ally Bank Interest Checking is offered by Ally Bank, a bank founded in 1919 and based in Detroit, MI. Ally Bank Interest Checking is available in 50 states (and Washington, DC).

Key Takeaways

  • Get paid before payday. Early direct deposit lets you access your money up to two days earlier.
  • Savings Roundups. Boost your savings with Round Ups by saving when you spend. Ally can round up your transactions to the nearest dollar, then transfer the difference to your Ally Online Savings account.
  • Higher than average APY. Ally Bank Interest Checking has an annual percentage yield of up to 0.25% (depending on balance), which is higher than the national average interest rate on savings accounts.
  • $0 monthly fee. This account does not charge any monthly account fees.
  • No minimum initial deposit. There is no minimum balance required to open an account online.
  • No ATM fees. Ally Bank Interest Checking does not charge fees on ATM transactions.
  • Up to $10 in ATM fee rebates. This account will reimburse you for ATM fees (see terms and conditions for details).
  • Bill pay. Pay your bills to practically anyone in the United States through Ally Financial, Inc..
  • Early direct deposit. Get access to you paycheck funds faster If you set up a direct deposit to this account.

Ally Bank checking Pros & Cons

Pros Cons
  • Access 43,000+ no-fee Allpoint® ATMs; get reimbursed up to $10 per statement cycle for fees charged at other ATMs nationwide.
  • Available in all 50 states.
  • Interest-yielding account.
  • Free debit card and the option to lock/unlock the card if lost or stolen
  • No charge on incoming domestic or international wire transfers.
  • You require a minimum balance to qualify for the higher interest rate.
  • No signup bonus.
  • Higher than average wire transfer fees.

Ally Bank checking FAQ

Are checking accounts from Ally Financial, Inc. federally insured?

Yes, your deposits are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #57803). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does Ally Bank checking offer?

Ally Bank checking offers an APY starting at 0.10% and ranging up to 0.25% (APY stands for annual percentage yield, rates may change).

Ally Bank checking Rates and Terms
Rates Amount
APY (Annual Percentage Yield) 0.10% - 0.25%

What are the account minimums for Ally Bank checking?

Ally Bank checking does not require a minimum initial deposit.

Ally Bank Interest Checking Minimums
Description
Minimum Opening Deposit Starting at $0
Minimum Balance to Avoid Monthly Fee Starting at $0

What fees does Ally Bank checking charge?

The good news is that this account does not have a monthly Service Charge.

Ally Bank Interest Checking Fees
Description
Monthly Fee $0
ATM Fee: In-Network $0
ATM Fee: Out-of-Network Starting at $0
ATM Reimbursement Monthly Limit $10
Foreign Transaction Fee (Debit Card) 1%
NSF Fee $25
Overdraft Item Fee $25
Overdraft Protection Fee (per transfer) $0
Returned Deposit Fee (Domestic) $7.50
Returned Deposit Fee (International) $0
Stop Payment Fee $15
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $20
Wire Transfer Fee - International (Incoming) $0
Wire Transfer Fee - International (Outgoing) $0
Paper Statement Fee $0
Online Bill Pay Fee $0
Check Cashing Fee $0
Debit Card Replacement Fee $0
Early Account Closure $0

Does Ally Bank checking charge overdraft fees?

Yes, Ally Bank checking charges a $25 fee for every overdraft.

What features and perks does Ally Bank checking offer?

This account includes the following features:

  • ATM rebates - This account will reimburse you for any domestic ATM fees up to a monthly maximum of $10.
  • Check images with statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks.
  • Fraud monitoring - Ally Bank checking monitors transactions for potentially unauthorized activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
  • Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Get paid early - If you set up direct deposit with your employer and request this service, you can collect your salary early.
  • Mobile Banking Services - Ally Bank checking allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.

What is the customer support email for Ally Bank checking?

The customer support email for Ally Bank checking is support@invest.ally.com.

How do people rate the customer service and user experience of Ally Bank checking?

Overall, Ally Bank checking is strongly recommended based on community reviews that rate customer service and user experience.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Ally Bank checking

A checking account that gives you more. We reward you for banking with us, not the other way around. No minimum balance requirements. Ever. Open your account with any amount. Plus, we don’t penalize you or charge fees based on your balance. Make everyday banking count.

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • Washington, DC
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Minimum Opening Deposit Starting at $0
Minimum Balance to Avoid Monthly Fee Starting at $0
Monthly Fee $0
(Verified 06/01/2023)
ATM Fee: In-Network $0
ATM Fee: Out-of-Network Starting at $0
ATM Reimbursement Monthly Limit $10
Foreign Transaction Fee (Debit Card) 1%
NSF Fee $25
Overdraft Item Fee $25
Overdraft Protection Fee (per transfer) $0
Returned Deposit Fee (Domestic) $7.50
Returned Deposit Fee (International) $0
Stop Payment Fee $15
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $20
Wire Transfer Fee - International (Incoming) $0
Wire Transfer Fee - International (Outgoing) $0
Paper Statement Fee $0
Online Bill Pay Fee $0
Check Cashing Fee $0
Debit Card Replacement Fee $0
Early Account Closure $0
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Proof of Identity
  • Proof of Residence
  • Government Issued Photo ID
  • Social Security Number
Account Features
  • Tiered-rate Account
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • ATM Reimbursement
  • Nationwide ATM Network
  • Check Images with Statement
  • Mobile Banking
  • Fraud Monitoring
  • Debit Card Lock/Unlock
  • Fraud Protection
  • Debit Card
  • Get Paid Early
  • Bauer Financial A+/A Rating
  • Member FDIC
  • Check Writing
  • Expense Management
Signup Bonus Starting at $0
APY (Annual Percentage Yield) 0.10% - 0.25%
(Verified 06/01/2023)

Ally Bank Interest Checking Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +64, equating to 4.3 on a 5 point rating scale.

+64

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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