Best Ally Bank Checking Account

Ally Bank is a financial institution headquartered in Detroit, Michigan. It provides financial services, including car finance, corporate lending, online banking through a direct bank, mortgage loans, vehicle insurance, and an electronic trading platform to buy and sell financial assets. Ally is among the largest car finance institutions in the U.S., offering car financing and leasing for more than four million customers and producing 1.4 million car loans yearly. In today’s article, I will major in the Ally Bank checking account. 

 For your information, Ally Bank is among the largest banking institutions in the United States by assets. It has about 2.0 million depositors, with more opening accounts daily. Its electronic trading site has about 350,000 funded accounts. Among the most operated bank accounts are checking accounts that allow you to keep finances for your daily expenditures. Checking accounts help you to keep funds secure.  

Additionally, checking accounts allow you to keep money needed for emergency uses. Instead of keeping funds in your house and risking it to thieves, fire, flood, and any other disasters, keeping them in your house is safe. Furthermore, you can conveniently access the funds using an ATM card, online, or through a mobile application. Businesses are now accepting electronic payments more than ever before.  

Opening process an Ally Bank checking account

Ally Bank offers a checking account known as Interest Checking Account. You can open your checking account at Ally Bank in a simple manner. You only need to visit the Ally Bank website and navigate to the product page, then select the type of account you need to open. For our case, you will select a checking account and tap the “Open Account” button. Next, you should enter your personal details and choose the terms and the most preferred funding options you prefer. After that, you will receive an email once they approve your application. 

You can also apply for a checking account online by calling customer care at 1-877-247-2559 27/7. You can also apply for an account by mail by downloading an application from the section of your form and sending it to the address on the application page.

Things needed to open the Ally Bank checking account 

Various documents are necessary when opening your checking account at Ally Bank. These include the following. 

• Your Social Security Number. Alternatively, you can provide a tax identification number.
• Your legal name
• Your street address
• Your birthday

You may also need to supply additional documents when needed. That can happen if you change your names and never make them official, for example, after marriage. The bank may request the following documents. 

• Your Social Security card
• Your driver’s license
• Proof of U.S. residency or citizenship.

Features of Ally Bank checking account

The account has numerous features, which include the following.

1. ATM access using your ATM card at any time of the day. 
2. Remote check deposit using your mobile banking app.
3. Ability to earn interest on your checking account.
4. Overdraft protection
5. Early direct deposit

Ally Bank checking account fees

Most bank accounts charge monthly fees, withdrawal fees, foreign transaction fees, etc. However, Ally Bank’s Interest Checking Account does not charge those fees. There are no;  

• Overdraft item fees
• Monthly maintenance fees
• Low daily balance fees
• Official/cashier’s checks
• Standard or expedited ACH transfer fees
• Incoming wires (domestic and international) fees
• Postage-paid deposit envelope fees
• Copies of online statements fees

However, you have to part with returned deposit item fees of up to $7.50. You also need to pay expedited delivery fees of around $15. Outgoing domestic wire fees can go up by $20. The account research fee is $25.