Digital banking services have been around, and popular, for a while now.
They offer online access to many of the account features and services consumers need and want.
Additionally, online savings accounts and checking accounts can save you money.
Ally dominated the news in 2021 when it eliminated all overdraft fees for its accounts.
No Interest Til Almost 2027?
The account comes with a free debit card and free checks.
It will do so in increments of $100.
This perk, called overdraft transfer service, is optional and free of charge.
And as of June 2021, Ally does not charge overdraft penalty fees.
you could learn more about online banking featureshere.
Did you know?
It offers intuitive mobile check deposit and easy money transfer.
The Allpoint web connection of ATMs is extensive and free to use.
The app is free.
Ally Bank prides itself on its lack of monthly maintenance fees.
However, Ally does have some fees and is transparent about those upon account signup.
you’re free to find the full breadth of products on the Ally Bankwebsite.
However, notably absent are small business banking options, save for the SEP-IRA.
Weve analyzed our readers most common questions about the financial institution and provided as many answers as we could.
See if we have the answers to your questions.
you’ve got the option to even utilize a robo-advisor for investing through Ally.
Ally lacks small business banking options.
The bank started out in 1919 as GMAC, General Motors finance division.
Ally Financial remains the parent organization to this day.
Ally and Chime continue to be among our top most recommended financial institutions.
If you are just starting your personal finance journey,Chimeis a great choice.
Ally Bank is more suitable for those with more established savings.
We do currently rate Ally a half a star better than Chime.
Though it does not have physical branch locations, Ally Bank is a legitimate bank.
It is one of the leading online banks in the country.
Yes, your Ally account will come with a debit card.
Is Ally Bank Right for You?
Ally offers an interest-bearing checking and joint accounts, while Chime doesnt.
However, the simplicity the latter offers might match up with what you want.
It boils down to what youre looking for in an online bank account.
Timothy Moore and Kathleen Garvin are veteran writers on personal finance topics and frequently contribute to The Penny Hoarder.
Freelancer Dennis Lynch contributed to this post.
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