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Ally bank?

blacksoxing 1,233 May 20, 2012 at 09:55 AM
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Moving to cincy and they don't have a Regions.

I don't wanna go with another "bank", and credit unions aren't for me due to having to find the perfect one and how I like to travel around

But I read about Ally bank....and their rates. Got excited.read about their bankruptcy with the parent company but I'm not scared.

Y'all use it? Convenient? Reliable?

I trust y'all feedback

38 Comments

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Joined Oct 2006
L5: Journeyman
148 Reputation
#2
No atm charges is hard to beat.
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Joined Oct 2010
L5: Journeyman
206 Reputation
#3
You can deposit checks on their website and later in the year you'll be able to do so on your phone.

I use Ally as my main bank but also use Bank of America if I want to make a cash deposit.
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Joined Jun 2011
L7: Teacher
371 Reputation
#4
i would not use a bankrupt bank


the firm provided financing to 75% of the 6,450 General Motors dealers -not a good sign

As of December 2010, 73.8% of Ally was owned by the United States Treasury, with the remainder divided between Cerberus Capital Management, General Motors, and other investors


http://www.foxbusiness.com/invest...-bailouts/
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Joined Sep 2006
L10: Grand Master
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#5
Quote from cavan View Post :
i would not use a bankrupt bank
Why? They're safe and have been cleaned up by the feds. I'd worry more about banks with shakey finances that haven't yet been taken over, but then only if I had more than the FDIC insurance limit on deposit.
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#6
Quote from larrymoencurly View Post :
Why? They're safe and have been cleaned up by the feds. I'd worry more about banks with shakey finances that haven't yet been taken over, but then only if I had more than the FDIC insurance limit on deposit.
I second this. Ally is FDIC insured and that's what I worried about at the time of opening an "online" checking / savings account. I've been using them for well over 2 years and have a traditional B&M bank to use for check / cash deposits. I have my employer direct depositing to my Ally account. They are reliable, great customer service, they refund your ATM fees within 30 days, and probably as low cost as you can get compared to any other banks out there. I pay all my bills, rent, and everything through the free checks Ally provides and electronically as well. Great online bank.
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Joined Sep 2005
L10: Grand Master
1,344 Reputation
#7
I would reconsider joining a credit union. Even if you don't use them as your primary financial institution, it's nice to have one available when you might need one.

Also, I'd consider Charles Schwab [schwabbank.com] as your online bank. They offer online deposits and free ATM usage at any ATM worldwide.
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Joined Aug 2007
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#8
I joined Ally about six or seven months ago and they've been very good overall. As someone already mentioned they offer online deposits; which in my experience is clunky and difficult use compared to the one my credit union offers. Almost 80% of the time it rejects the deposit due to a "bad" check image or some other ridiculous error. To make matters worse, Ally also holds your deposit FOREVER (like 7-9 days after deposit) - which is NOT fun when you have bills to pay. The first time I used online deposits, I thought the funds were available as soon as I had received notification that the deposit process had been "completed" (it takes a couple days). Even though the "balance" on my account reflected the deposit, the "available balance" did not and it took an additional week to do so. This resulted in my paying some bills and an earning an overdraft fee. >Frown

Now, I just use the online deposit through my credit union and then transfer the money to my Ally account. It is much faster and the credit union's system never gives me an error or any trouble accepting the scanned check images. Now, it's possible Ally may have improved their online deposit software and procedures in the six months or so since I last used it.

BTW, another online bank that has received great reviews and which I considered joining was ING Direct. You may want to check them out as well. Ironically, I think the reason I went with Ally over them at the time was because they didn't offer online deposits..
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Joined Dec 2009
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#9
Quote from Syrinx2112 View Post :
I joined Ally about six or seven months ago and they've been very good overall. As someone already mentioned they offer online deposits; which in my experience is clunky and difficult use compared to the one my credit union offers. Almost 80% of the time it rejects the deposit due to a "bad" check image or some other ridiculous error. To make matters worse, Ally also holds your deposit FOREVER (like 7-9 days after deposit)
That's strange. I have been using Ally's online deposit since it came out and haven't had one check rejected yet and the funds are available in 3 days.

I also have a local credit union but most of my online bill pays are through Ally. I like the email confirmation I receive when checks are cashed through the online bill pay. My credit union doesn't do this which resulted in a tense wait for a mortgage payment that wasn't posted 9 days after I "paid" it, resulting new check and stop payment/late fees from both sides (turned out CU left out the mail code and lender had my check and was about to deposit it when CU issued stop payment).
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#10
Quote from teixeirarosa View Post :
That's strange. I have been using Ally's online deposit since it came out and haven't had one check rejected yet and the funds are available in 3 days.

I also have a local credit union but most of my online bill pays are through Ally. I like the email confirmation I receive when checks are cashed through the online bill pay. My credit union doesn't do this which resulted in a tense wait for a mortgage payment that wasn't posted 9 days after I "paid" it, resulting new check and stop payment/late fees from both sides (turned out CU left out the mail code and lender had my check and was about to deposit it when CU issued stop payment).
Although, I am a supporter of Ally, I too had a LOT of trouble with their online deposits - specifically scanning the checks. It is a pain, but again this was a few months back, it may have improved a lot since then. And yes, it did take 3 days to process.
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Joined Oct 2010
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206 Reputation
#11
Quote from Syrinx2112 View Post :
I joined Ally about six or seven months ago and they've been very good overall. As someone already mentioned they offer online deposits; which in my experience is clunky and difficult use compared to the one my credit union offers. Almost 80% of the time it rejects the deposit due to a "bad" check image or some other ridiculous error. To make matters worse, Ally also holds your deposit FOREVER (like 7-9 days after deposit) - which is NOT fun when you have bills to pay. The first time I used online deposits, I thought the funds were available as soon as I had received notification that the deposit process had been "completed" (it takes a couple days). Even though the "balance" on my account reflected the deposit, the "available balance" did not and it took an additional week to do so. This resulted in my paying some bills and an earning an overdraft fee. >Frown

Now, I just use the online deposit through my credit union and then transfer the money to my Ally account. It is much faster and the credit union's system never gives me an error or any trouble accepting the scanned check images. Now, it's possible Ally may have improved their online deposit software and procedures in the six months or so since I last used it.

BTW, another online bank that has received great reviews and which I considered joining was ING Direct. You may want to check them out as well. Ironically, I think the reason I went with Ally over them at the time was because they didn't offer online deposits..
I tried it during the holidays and it didn't at all for me. Scanner or manually uploading photos.

I think it got better but that could just me because I just deposited one check two days ago. I manually uploaded the pics from my iPhone.
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#12
Quote from blacksoxing View Post :
Moving to cincy and they don't have a Regions.

I don't wanna go with another "bank", and credit unions aren't for me due to having to find the perfect one and how I like to travel around

But I read about Ally bank....and their rates. Got excited.read about their bankruptcy with the parent company but I'm not scared.

Y'all use it? Convenient? Reliable?

I trust y'all feedback
So, I'm curious. What did you end up going with?
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Joined May 2006
L3: Novice
46 Reputation
#13
The eDeposit thing is horrid... but other than that, Ally Bank is great!
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Joined Mar 2006
Not Fragile
803 Reputation
#14
Read hundreds of (mostly) horror stories about Ally Bank here:

http://www.emoneycentral.com/bank...ally-bank/
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Joined Feb 2010
L2: Beginner
30 Reputation
#15
Quote from Roundabout View Post :
Read hundreds of (mostly) horror stories about Ally Bank here:

http://www.emoneycentral.com/bank-reviews/ally-bank/
Just about every major bank listed is "mostly" horror stories. Does that surprise you?

Some of the stories are ridiculous like "They don't take cash." Duuhhhhh. It's an Internet bank. Not saying they are the best or the worst but reading sites like that is pretty useless.
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