Does Ally Bank have a branch?

All interest rate and fee information is accurate as of March 16, 2023. One of the advantages of not having any physical branches is that the bank can pass along those savings to customers in the form of lower fees. That’s the case with the Ally Bank Interest Checking account, the only checking product offered by this bank.

What are the benefits of an ally bank savings account?

An Ally Bank savings account offers many benefits to consumers. The main benefit is that Ally is able to offer a higher interest rate than most banks due to its low overhead. It currently offers an annual percentage yield (APY) of 1 % with interest compounded daily.

How does ally's money market account work?

Ally’s Money Market Account earns a strong APY on any balance. It also offers customers a debit card and the ability to write checks. (An MMA is a type of savings account, but some MMAs offer debit cards and checks, which is not typical for regular savings accounts.) There is no minimum deposit requirement or monthly fee.

What happened to Ally Bank in 2022?

Online banking with ALLY has degraded so badly in 2022 we became afraid and switched banks. Their stock price is crashing and we think they are experiencing liquidity issues. Insane bank regulators are allowing Ally to prevent customers from paying scheduled bills and accessing accounts. We just move $40k out to a safe bank. WHEW.