Would you like to read a thorough review of the Ally checking account? Responsible Economy has conducted a comprehensive analysis of its features, including fees, interest rates, welcome bonuses, requirements, and everything you need to know. Additionally, we provide a comparison of the top checking accounts available in the United States in 2023. Welcome!
Video Ally checking account review
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Features
In this section, we present all the features of the Ally checking account.
Fees
Ally offers a checking account with no maintenance fees. There is also no requirement for direct deposits.
Minimum deposit
There is no minimum deposit required to open the account. You can open the checking account with $0.
Overdraft services
The account does not have overdraft services. Any payments that would result in a negative balance will be declined.
Zelle
You can use the Zelle service with Ally to send and receive money quickly and without any fees.
Bonus
There is no welcome bonus offered with this account.
ATMs
You can make fee-free withdrawals at all Allpoint ATMs. There are over 43,000 ATMs across the United States without any fees.
Wires
Outgoing bank transfers have a $20 fee.
Rates
With Ally, you can earn interest on your checking account, savings account, and CDs. The checking account offers an interest rate of 0.25%, the savings account has an interest rate of 3.30%, and the CDs have an interest rate of 4.25%.
Fees
Here are the fees associated with Ally’s checking account:
- Account maintenance fee: $0
- Outgoing transfers fee: $20
Requirements
These are the requirements you need to meet in order to open an Ally checking account:
- You must be 18 years of age or older.
- Reside in the United States.
- Have a valid American phone number.
- Possess a social security number.
Documents
Ally will require you to provide documentation that proves your residence in the United States, such as an invoice or letter, as well as a valid driver’s license or other acceptable identification document.
How to open a checking account
Ally is an online bank, which means the only way to open a checking account is through their website or mobile app. You can conveniently apply and complete the account opening process using your mobile phone or computer.
Best banks in 2023
We have conducted a comparison of the best checking accounts available for opening in 2023 in the United States. Below is a table highlighting the main banks and their respective features:
- It is very easy to avoid monthly commissions
- Welcome bonus of 200 dollars fulfilling conditions
- More than 16,000 ATMs in the United States
- $25 minimum deposit
- Very low interest rates
- It is very easy to avoid monthly commissions
- More than 16,000 ATMs in the United States
- $100 minimum deposit
- No welcome bonus
- High interest rates if you have a lot of savings
- It is very easy to avoid monthly commissions
- Nearly 12,000 ATMs
- $25 minimum deposit
- Welcome bonus of 300 dollars fulfilling conditions
- High interest rates on CDs
- No fees and no requirements
- Nearly 60,000 ATMs
- Welcome bonus of 250 dollars fulfilling conditions
- High interest rates on CDs
- No fees no direct deposits
- Fee-free withdrawals from ATMs around the world
- Without minimum deposit
- No welcome bonus
- High interest rates on CDs
- No fees no direct deposits
- More than 60,000 commission-free ATMs
- Without minimum deposit
- No welcome bonus
- High interest rates on Savings
- No fees no direct deposits
- More than 50,000 commission-free ATMs
- Without minimum deposit
- No welcome bonus
- High interest rates on CDs and Savings
- Commissions of $10 if you do not meet requirements
- No fees at Citibank ATMs
- Without minimum deposit
- No welcome bonus
- High interest rates on CDs
Video with the best banks
Here you have a video with the best checking accounts in the United States:
Pros and cons
Below is a table outlining the advantages and disadvantages of the Ally checking account:
Pros | Cons |
---|---|
No monthly fees | No welcome bonus |
No minimum deposit | Does not accept cash deposits |
Zelle | No branches |
High interest rates |
The advantages that Ally offers are that it does not have monthly commissions, it is not necessary to make a minimum deposit of money, the interests are high and it has a Zelle service.
The disadvantages are that it does not have branches, you cannot make cash deposits at ATMs and it does not have a welcome bonus.
Frequent questions
Now we answer all the questions you may have about Ally:
More information about Ally
Here is a table with interesting information about Ally:
Information | Descripcion |
---|---|
Website | https://www.ally.com |
https://twitter.com/ally | |
YouTube | https://www.youtube.com/c/ally |
Phone | 1-888-925-2559 |
Other Ally products
Here are other products offered by Ally:
Related posts
Finally, you have related posts on checkings accounts:
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Updated the day 1 September, 2023 by Alfredo Barandiarán
Alfredo Barandiarán is not only passionate about finance and the economy, but also has more than 10 years of experience helping people find the best possible financial product. He has worked for 5 years at Iahorro and 2 years at Atrapacrédito. He has currently been running the financial comparator Responsible Economy for 3 years. I graduated in business from Complutense University of Madrid and has studied at ESIC and CEF. You can see all the professional experience of Alfredo Barandiarán on his LinkedIn profile