Anyone Use Ally Bank?

[BluMoon]

Because Cap One bought out ING, I'm changing banks.  What on-line banks do you recommend?  Also, anyone here have any personal experience with Ally?

[Anonymous]

I have 2 savings accounts (ear-marked for different savings goals) and 3 CDs with them. I really like their online interface. It's very clear what interest rate you're getting. With some other banks I have to click around a lot to figure out what the current rate is on my accounts. Their CD rates are competitive and I like their no-penalty 11 month CD.

I've only moved money using ACH transfers with them. Haven't needed to use ATMs.

[BluMoon]

Super - Thanks!  You don't have a checking account with them, do you?  I'd like to know about automated payments and how easy/complicated their billpay system is.  People that like them really like them.  On the other hand, there are a lot of negative comments about them, and I'm not sure whether they are all valid comments or not.

[Anonymous]

No, I don't have a checking account with them. Hopefully someone else will chime in with the billpay experience. I'm rather curious myself. I've been considering either opening one up with them or with Alliant CU. I'm trying to transition away from HSBC banking.

I also like that the few times I've called customer service at Ally, I get what sounds like a native English speaking representative. Most of the time I call HSBC, I get someone who sounds like they are from India. They have all been nice, but there's more of a struggle to communicate. I find myself repeating myself a lot and asking for them to repeat themselves, and overall it takes longer and is more of a hassle.

[slarano]

I have their Checking and Savings. Love Ally!  I should mention though, transactions that happen on the weekend don't post as quickly as they do when I was using ING for my online banking. I don't buy anything with my debit card, use Ally (and before ING) strictly for direct deposit of paycheck and paying bills throughout the month.

[rckstrscott]

I have an Ally car loan.. I know it isn't the same thing, but my experience with their customer service has been exceptional

-scott

[BluMoon]

Thanks Everyone!  simonlarano, do you have any automated payments set up?  For instance, at ING my mortgage and another loan are set to automatically pay on the 7th and 23rd of the month and I have had no trouble with this at ING.  In some of the posts that I saw about Ally, people said that they had to check to make sure the checks or electronic transfers actually were sent because sometimes they weren't.

[slarano]

I don't have any automatic payments set up via Ally itself. I set up all my payments through the site of the company I'm paying, not through the BillPay of my bank.

[Anonymous]

I love Ally bank, I have a checking account and the best thing about it is the .50 int rate and zero fees.  Also you can scan checks into the system for deposit.  I give ally high marks.  I hope this helps?

[Anonymous]

I have a checking account, money market, and a joint money market with my wife at Ally.  My wife recently followed suit and opened a checking account and savings account.  She actually transferred her ING savings account to Ally due to the same concerns as the OP.

Free interest checking is a rare thing, and I rather enjoy it.  Their fee schedules are much friendlier than the other large banks, if you happen to accidentally overdraw or something.  They do cheap out on the free checks, as they are basic checks with no carbon copy sheets.  Their online check deposit is still in the roll-out phase, so it's not available to everyone yet, but it does work well.  I have used gas station ATMs on a couple of occasions with my Ally debit card and it worked with no issues.  Ally does not charge a fee for this, but I believe you're still on the hook for the other end of the ATM fee.  (I think there are a few banks out there that will refund this, though)

I have had no issues with either money market account.  I got checks only for one and checks and a debit cards for the joint account.  The MM debit card is a Visa, while the checking debit card is a MC (they are also different colors, so I don't get them confused in my wallet.)

I do have a slight issue with online only banks like Ally, but they're rates are good enough that I've put them aside.  The limit of 6 withdrawal transactions on a savings or money market account apply to phone and online transactions.  With a walk-in bank you can make an in-person transaction without this limitation.  Also, I am very leery of online or by mail deposits of large checks, but so far we have had no issues.  You are also unable to make cash deposits.  I did retain my old credit union account for in person deposits and other perks like cashier's checks, but in general the Ally account has been better for me.