ally bank

Ally Bank: Your Perfect Partner for Secure and Efficient Banking Solutions

Ally Bank is a leading digital financial services company known for its customer-centric approach. It revolutionizes banking by offering online banking solutions with no minimum balance requirements or monthly service fees. Offering high-interest savings accounts, checking accounts, and a variety of loan products, it caters to customers seeking convenience and value. Without the overhead of physical branches, Ally Bank passes the savings to its customers in the form of competitive interest rates. It's a modern, secure, and innovative way to manage your money right at your fingertips.

Brand Name Ally Bank
Type Public
Industry Banking, Financial services
Founded 2001
Headquarters Detroit, Michigan, U.S.
Services Online banking, car finance, corporate lending, credit cards, mortgages, electronic trading platform
Number of Employees 8,700 (2019)
Website www.ally.com
Parent Ally Financial
Revenue $6.2 billion (2020)
Net income $1.14 billion (2020)
Total assets $180.4 billion (2020)
Subsidiaries Ally Invest, Ally Auto, Ally Home
CEO Jeffrey J. Brown (since 2015)
FDIC Insured Yes
Customer Service 24/7
Mobile App Yes
Savings APY 0.50%
Checking APY 0.10%
Routing Number 124003116
Swift Code ALLYUS33
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    Unrivaled Online Accessibility

    With Ally Bank, you have the distinct advantage of unrestricted online access to all your accounts. Their robust and user-friendly digital platform allows you to manage your finances at your convenience, breaking the barriers of traditional banking hours. Read more

    Competitive Interest Rates

    Ally Bank is renowned for offering some of the most competitive interest rates in the market. Whether it's a savings account, checking account, or CD, you can maximize your earnings with their high-yield options. Read more

    No Hidden Fees

    In a world where hidden fees are the norm, Ally Bank stands out with its transparent pricing. You won't be surprised with unexpected charges, ensuring that your money stays exactly where it should be – in your account. Read more

    24/7 Customer Support

    Ally Bank takes customer service seriously. Their dedicated team of financial experts is available 24/7 to answer all your queries and provide personalized support, giving you peace of mind round the clock. Read more ally bank

    Wide Range of Financial Products

    From high yield savings accounts, interest checking accounts, to a variety of Certificates of Deposit (CDs), Ally Bank offers a comprehensive suite of financial products to cater to your every need. Read more

    Secure Banking

    With Ally Bank, you can be assured of secure banking practices. They use industry-leading security measures and technology to protect your personal and financial information. Read more

    Mobile Banking

    With Ally Bank's mobile app, you can manage your accounts, make deposits, transfer funds, and even pay bills right from the palm of your hand. It’s banking made easy and convenient. Read more

    Robo-Advisor and Investment Options

    Beyond traditional banking services, Ally Bank also provides access to a robo-advisor and a wide array of investment options that can help grow your wealth. Read more ally bank

    Commitment to Financial Education

    Ally Bank is committed to helping its customers understand their finances. They offer a wealth of financial education resources, including online courses, articles, and tools to help you make informed financial decisions. Read more

    Ease of Account Setup

    Opening an account with Ally Bank is a breeze. Their simple and streamlined account setup process eliminates the usual hassles of banking, allowing you to start enjoying their services as quickly as possible. Read more

    Facts

    1. Unconventional Beginnings: Ally Bank has an unusual origin story. The bank was born in 1919 when it started as GMAC, a financing arm of General Motors, and it wasn't until 2009 that it was rebranded as Ally Bank.
    2. Bucking the Brick-and-Mortar Trend: Unlike traditional banks, Ally Bank operates entirely online, with no physical branches. This unique business model allows the bank to cut overhead costs and pass the savings onto their customers in the form of higher interest rates.
    3. Savings Powerhouse: Ally Bank's high-yield savings accounts consistently rank among the best in the industry. The bank offers rates that are significantly higher than the national average, helping customers grow their savings faster.
    4. Award-Winning Mobile Banking: Ally Bank's mobile app is more than just a banking tool. It's an award-winning platform with features like remote check deposit, bill pay, and a savings calculator. It has received top ratings from both customers and industry experts.
    5. No Hidden Fees: One of the most appreciated features of Ally Bank is its transparent fee structure. The bank has no monthly maintenance fees, no minimum balance requirements, and even reimburses customers for ATM fees.
    6. Auto Financing Expert: Given its history as GMAC, it's no surprise that Ally Bank is a leader in auto financing. The bank offers competitive rates on auto loans and has financed more than 4 million vehicles to date.
    7. Innovative Products: Ally Bank is known for its innovative banking products. Their Raise Your Rate CD, for example, allows customers to increase their interest rate once over the term if rates go up.
    8. 24/7 Customer Service: Customer service is a priority for Ally Bank. They offer 24/7 customer support, ensuring that customers can get help whenever they need it.
    9. Inclusive Banking: Ally Bank prides itself on being a bank for everyone. It's committed to diversity and inclusion, and has made efforts to ensure its services are accessible to all customers.
    10. Community Involvement: Ally Bank doesn’t just focus on banking. The company is also committed to giving back to communities across the country, with initiatives focused on financial education, affordable housing, and workforce preparedness.

    Vocabulary

    Ally Bank Savings Account – A high-interest account for saving money.

    Ally Bank Checking Account – An everyday account for managing money.

    Ally Bank Certificate of Deposit – A fixed-term investment product.

    Ally Bank Money Market Account – A hybrid checking and savings account.

    Ally Bank Auto Loan – Financing for a new or used car.

    Ally Bank Home Loan – Mortgage for purchasing a home.

    Ally Bank Credit Card – A credit card for making purchases.

    Ally Bank Mobile App – Mobile banking to manage your accounts on the go.

    Ally Bank Online Banking – Internet banking services for easy account management.

    Ally Bank ATM Card – A card for withdrawing cash from ATMs.

    Ally Bank Direct Deposit – Automatic deposit of your paycheck into your account.

    Ally Bank Business Account – Banking services for businesses.

    Ally Bank Wire Transfers – Electronic transfer of funds between banks.

    Ally Bank Personal Loan – A loan for personal expenses.

    Ally Bank Retirement Account – Investment accounts for retirement savings.

    Ally Bank Bill Pay – Online bill payment service.

    Ally Bank Student Loan – Loan services for education expenses.

    Ally Bank Foreign Currency Exchange – Service for exchanging foreign currency.

    Ally Bank Overdraft Protection – Service to avoid insufficient funds in your account.

    Ally Bank Fraud Protection – Security services to protect against fraud.

    Ally Bank Home Equity Loan – Loan based on the equity in your home.

    Ally Bank Investment Services – Investment options and advice.

    Ally Bank Insurance Services – Various insurance products.

    Ally Bank Mobile Check Deposit – Deposit checks using your mobile device.

    Ally Bank Debit Card – A card for making purchases directly from your account.

    Ally Bank Loan Refinancing – Service to refinance existing loans.

    Ally Bank Travelers Checks – Secure payment method for travelers.

    Ally Bank Safe Deposit Box – Secure storage for valuable items.

    Ally Bank Financial Planning – Financial advice and planning services.

    Ally Bank Customer Service – Support for all banking and financial needs.

    Read more

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