Get a $750 Welcome Deposit for eligible new customers who open an 
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Ally Bank is another great online-only bank, and offers nationwide online Checking, Savings, Money Market, CD and IRA accounts that earn market leading rates.
Ally Bank is an internet-only bank based in Utah and offers a wide variety of deposit accounts, as well as auto financing services.
Their online banking platform features Ally eCheck Deposit, which offers a simple way to deposit checks with your smartphone, computer scanner or free postage-paid envelopes. You can transfer between Ally accounts or between Ally and non-Ally accounts for free.
Because they operate solely online, there are no Ally Bank branches to visit, but this allows for higher rates than with traditional banks. Like most top online banks, they offer free ATM fee reimbursements for all of their accounts.
Ally Invest $3,500 Cash & Free Trades Offer
Updated offer for up to $3,500 cash in bonuses
With this updated promotion from Ally Invest, you can earn anywhere from a $50 to $3500 cash bonus, as well as $500 in free trades for 90 days. If you’re transferring over from another brokerage, you can apply for a Transfer Fee Credit of up to $150 also.
- Cash Bonus:
- Funding – Accounts must be opened by the expiration date and funded within 60 days of account opening.
- The qualifying deposit to open the new account must be from outside Ally Invest.
- The new account must be funded with a minimum qualifying deposit of $10,000 or more to receive the Minimum Cash Bonus and Commission-Free Trades for up to 90 days Bonus.
- The minimum qualifying funds to receive bonus offer must remain in the account (minus any trading losses) for a minimum of 90 days from the date of funding.
- Accounts will receive the specified credit, depending on the initial deposit amount, deposited into the account within ten (10) days of meeting the qualifying requirements.
- Once the account is credited, the bonus and initial qualifying deposit is not available for withdrawal for 300 days after the requirements have been met.
- If the qualifying deposit(s) are removed the bonus payout may be revoked.
- See the table below for the deposit required for each bonus amount.
| Bonus Amount | Deposit or Transfer Amount |
| $3,500 and free trades | $2MM+ |
| $2,500 and free trades | $1MM – $1.99MM |
| $1,200 and free trades | $500k – $999.9k |
| $600 and free trades | $250k – $499.9k |
| $300 and free trades | $100k – $249.9k |
| $200 and free trades | $25k – $99.9k |
| $50 and free trades | $10k – $24.9k |
- Commission-Free Trades for up to 90 Days Bonus:
- The qualifying deposit of $10,000 or more must be received and remain in the account (minus any trading losses) for a minimum of 90 days from date of funding account or Ally Invest may charge the account for the cost of the trades credited to the account.
- New accounts receive $500 in commission credit for equity, ETF and option trades executed within 90 days of funding the new account.
- Commission credit applies to the per contract commission.
- The commission credit takes up to 2 business days from the funding date to be applied.
- Unused trades expire at the end of 90 days from the funding date of the new account.
- You will not receive cash compensation for any unused free trade commissions.
- Mutual fund, bonds, exercise and assignment fees still apply.
- $150 Transfer Fee Credit:
- Must complete a first-time ACATS account transfer of $2,500 or more to receive a Transfer Fee Credit of up $150 to cover the outgoing transfer fee from your current brokerage firm.
- ACAT forms must be received within 15 days of opening new account.
- Credit will be deposited to your account within 30 days of receipt of evidence of charge.
- This transfer reimbursement offer does not apply to Termination Fees or Maintenance Fees.
- Not valid for any retirement or ERISA qualified accounts.
- Offer is not transferable.
- Open to US residents only.
- Excludes current Ally Invest Securities, LLC account holders.
- Excludes former Ally Invest Securities, LLC (formerly TradeKing Securities LLC) account holders who have closed their accounts within the past 90 days.
*See all Ally Invest promotions here
Ally Bank Interest Checking Account
Ally’s Interest checking account offers a competitive compounding interest rate for balances of $15,000 and up. You’ll get a free MasterCard debit card, free, checks, unlimited check writing, and free ATM reimbursements from any ATM nationwide. Plus there are no minimum opening deposits and no monthly maintenance fees to worry about. This account makes it onto our list of the best free Checking accounts.
Interest Checking Features
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| *Current Interest Rate is 0.60% APY with a $15,000 minimum daily balance and 0.10% APY if you have a daily balance less than $15,000. | |
Below are a variety of online Checking accounts to compare with Ally Bank before making a decision. You can also find all the latest bank promotions here.
- BBVA Compass Bank Promotions: $150 To $250 Checking/Savings Bonuses
- Chase Coupon Promo Codes: $200, $300, $350, $500 – November 2018
- Simple Bank Review: Unlimited $20 Bonuses & Top Savings Rate Offer
- Capital One 360 Promotions: $100, $200, Up To $1,000 In Bonuses
- 10 Best Free Checking Accounts Review November 2018
- Charles Schwab Brokerage Promotions, Bonuses And Offers
- Ally Bank Online Checking, Savings, CD, Investing Promotions
- Chase Bank’s Finn Checking & Savings Account $100 Bonus Offer
- Bank5 Connect Review: Checking, Savings, CD Promotions & Offers
- Chime Online/Mobile Banking Review: Checking & Savings
Ally Bank Online Savings Account
Ally Bank’s Online Savings account typically offers one of the best interest rates in the country for savings accounts. There are no monthly maintenance fees and no minimum opening deposit requirements. Like all Savings accounts, you’ll get up to 6 withdrawals per month without a fee ($10 for each outbound transfer after 6, which excludes checks).
Online Savings Features
- Clients can deposit checks remotely via Ally eCheck Deposit
- Interest compounds daily (great for accounts with large balances)
- Deposits are insured by the FDIC
- Allows transfers between other Ally Bank accounts and external accounts
- Transfers can be scheduled a year in advance
- Six transactions per statement cycle as required by federal law. Clients that make more than six transactions incur a $10 fee per additional occurrence.
Another thing to consider is Ally Bank’s overdraft fees. Customers are charged $25 for overdrafts but have the option to use Ally’s overdraft transfer service for free. This service transfers funds from one Ally Bank account into another Ally Bank account when your balance becomes too low to handle a transaction. This protects your account from going into the negative but will cost you around $10 each time.
Ally’s APY Vs. Traditional Banks
With an APY of 1.90% on all balance tiers, Ally Bank offers a higher rate than several of it’s competitors, giving clients the opportunity to gain more interest on their balances. The higher your balance, the more you are likely to gain in interest.
Free Services And Transactions Include
- Online Statements
- Unlimited deposits
- Cashier’s Checks
- International and Domestic Wires (incoming)
- ACH transfers to external bank account
- Deposit envelopes (postage-paid)
You can manage your accounts online on your desktop and mobile devices. Should you find an unauthorized transaction, Ally won’t hold you liable as long as you report the incident within 60 days of when your statement comes out.
*Use our Savings/Money Market Rates Guide to find the best rates currently
I recommend looking at the Money Market and Savings rates offered by CIT Bank and HSBC Direct as a comparison point. Chase Bank’s Savings account doesn’t have a good rate, but the sign-up bonus is great. You can find the latest Savings Account bonuses here.
- MySavingsDirect Hield Yield Savings And CD Account Promotions
- BBVA Compass Bank Promotions: $150 To $250 Checking/Savings Bonuses
- CIT Bank Promotions: Online Savings Builder Account Offers 2.15% APY
- Chase Coupon Promo Codes: $200, $300, $350, $500 – November 2018
- Simple Bank Review: Unlimited $20 Bonuses & Top Savings Rate Offer
- Online HSBC Direct Savings Rate Offer: 2.01% APY (Available Nationwide)
- Citizens Access Online Savings And CD Accounts Offers, Promotions
- PurePoint Financial Online Savings & CD Accounts Promotions, Bonuses
- CIBC U.S. Bank Offer: $200 Checking Bonus [IL, MI, MO, WI Residents]
Ally Bank Online Money Market Account
Ally Bank’s Money Market account is similar to the Online Savings account. You’ll have extra features like a debit card, free checks, and ATM fee reimbursements. Rates are good and there’s no minimum deposit or monthly balance requirements.
Money Market Features
- No monthly maintenance fees
- Unlimited deposits and ATM withdrawals, and up to 6 additional transactions
- Earn a higher rate than most money market accounts
- Deposit checks remotely with Ally eCheck Deposit
- Grow your money faster with interest compounded daily
- Your deposits are insured by the FDIC up to the maximum allowed by law
Rates
| Balance | APY Rate |
| $0 To $4,999 | 0.90% |
| $5,000 to $24,999 | 0.90% |
| $25,000+ | 1.00% |
Ally Bank Online CD Accounts
CDs and IRA CDs are also available and come in term lengths from 3 months to 5 years. They have a few different CD options, including the High Yield CD, Raise Your Rate CD, and No Penalty CD.
Compare Ally Bank’s CD Options
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| CD Term | Minimum Opening Deposit | APY |
| 5 Year CD | Up to $4,999.99 | 3.00% |
| $5,000 – $24,999.99 | 3.00% | |
| $25,000+ | 3.00% | |
| 3 Year CD | Up to $4,999.99 | 2.50% |
| $5,000 – $24,999.99 | 2.55% | |
| $25,000+ | 2.60% | |
| 18 Month CD | Up to $4,999.99 | 2.35% |
| $5,000 – $24,999.99 | 2.45% | |
| $25,000+ | 2.55% | |
| 12 Month CD | Up to $4,999.99 | 2.50% |
| $5,000 – $24,999.99 | 2.50% | |
| $25,000+ | 2.50% | |
| 9 Month CD | Up to $4,999.99 | 1.25% |
| $5,000 – $24,999.99 | 1.25% | |
| $25,000+ | 1.25% | |
| 6 Month CD | Up to $4,999.99 | 1.00% |
| $5,000 – $24,999.99 | 1.00% | |
| $25,000+ | 1.00% | |
| 3 Month CD | Up to $4,999.99 | 0.75% |
| $5,000 – $24,999.99 | 0.75% | |
| $25,000+ | 0.75% | |
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| CD Term | APY |
| 2 Year CD | 2.50% |
| 4 Year CD | 2.50% |
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| CD Term | Minimum Opening Deposit | APY |
| 11 Month CD | Up to $4,999.99 | 1.75% |
| 11 Month CD | $5,000 – $24,999.99 | 2.00% |
| 11 Month CD | $25,000+ | 2.10% |
Read my Best CD Rates guide before deciding, but also take a look a CIT Bank CDs and BBVA Compass CDs for some good rates. The banks below have the best CD rates at the moment.
- BBVA Compass Bank Promotions: $150 To $250 Checking/Savings Bonuses
- CIT Bank Promotions: Online Savings Builder Account Offers 2.15% APY
- Live Oak Bank Online Savings And CD Offers, Promotions
- Virtual Bank Checking, Money Market, CD Promotions & Offers
- Popular Direct Online Savings And CD Account Promotions, Offers
- Barclays Bank Promotions: Savings And CD Account Offers, Bonuses
- Synchrony Bank Online Savings, CD, Money Market Promotions
- Salem Five Bank Checking, Savings, CD Promotions
- Ally Bank Online Checking, Savings, CD, Investing Promotions
- Crestmark Bank Online CD Account Promotions Available Nationwide
Get all updated bank sign-up offers here.
*These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.