Sign up for an Ally Bank Account (once you open a Savings Account, you can add Checking for free!) After hearing about so many great reviews from other bloggers and friends, I decided I had to open an Ally Bank account and check it out.
Ally Bank Review – Ally Savings
Features:
It’s totally free of monthly fees – This is one thing that’s aggravating about bank accounts these days. You open an account for free, only to find out that it doesn’t stay that way if you don’t maintain certain balances or if you don’t add direct deposit. Usually, you don’t find these things out until after you’ve been hit with a fee. Thankfully, Ally doesn’t have any fees like this. 24/7 Customer Support with Real Human Beings! Amazing Customer Support: As I’m writing this email, I can see directly on the Ally Bank website that the customer wait time only 1 minute! Here’s the Ally Bank contact information:
- 1-877-247-ALLY (2559) to speak with a Customer Care Associate 24/7
- Ally Bank Customer Care P.O. Box 951 Horsham, PA 19044
- Ally Bank P.O. Box 13625 Philadelphia, PA 19101
- I get less stuff in the mail. Usually I’ll just open anything I get in the mail and toss it into a pile (or immediately in the recycling bin). With e-statements, I can just glance at them on my computer screen to see what charges have been made to my account.
- It’s easier to record-keeping. I love having digital records of everything versus paper records. I don’t have to physically file stuff, and I can just store it on my hard drive. When tax season rolls around, I just pick it out from there.
Drawbacks
If you’re new to online banking, it might be a bit of a change from you’re experience with a brick-and-mortar bank. But it’s likely not as hard as you think. These are some of the changes you’ll expect:
- No bank branches. With just about all online banks, there are no physical stores where you can walk in and talk to a bank employee. If you like conducting bank business in person, this might be a hard one for you to get over. Virtually the only time I ever went in to talk to someone at my Bank of America branch was when I wanted to close my account 🙂
- Mail-in Deposits. Online banks like Ally require you to mail in any deposits you want to make directly. This can take a few days for them to process, so you won’t be able to have your money right away. However, if you set up direct deposit, this will behave exactly like your current bank accepts it. If you don’t find yourself depositing a lot of checks, this won’t have much affect on you at all.
- No smartphone app. Ally hasn’t develop an app for smartphones yet. However, you can still access balances and transaction history through the Mint app for iPhone or Android. This might all sound difficult, but I’ve found it’s not a problem at all from my experience.
How to Open an Ally Bank account
I found the whole process of opening a new Ally Bank account very easy. It takes less than five minutes, and you can do it all by just typing on your computer. The steps are really as simple as:
- Go to the Ally website.
- FIll in the information to open up a savings account first. You’ll later have the option to add a checking account, too.
- Fund your account with whatever dollar amount you want! This is pretty cool as there’s no minimum investment like a lot of other banks.
Ally Bank offers many CD rate options as well. Click the banners to see those rates and open a CD.
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