Ally Bank Savings Accounts

I had no issues with my Ally Savings Accounts. I used them for my emergency fund and spending fund. ACH transfers had been seamless. But their customer service has gone downhill. I've asked for help to connect my Ally checking account to Plaid and Yodlee to transfer funds to my crypto exchange accounts and Vanguard. Ally's response to me was I should call up the third-party software systems companies. Why should I have to call up the companies when Ally should be calling them up. I switched banks because of their bad customer service.

For the longest time, no problems. I transferred my money into the account every week. Just fine. So, now, I recently have had some money being paid back to me. Quite a bit. Verified with the person that they did send the money. Now they froze my account because they think there is fraud going on. I wanted to transfer the money to an online account because I am in the middle of buying a home and did not want the money to be a factor in the purchase. So, until this whole virus thing is over, I was going to use the money for many personal things I need to take care of. So I wanted to park it in another account.
In three months I was going to put the funds from the sale of my home into this account and take care of all the payoffs via wire from Ally. Good thing I know what I do now. I would not of been able to close. They would of froze my account, the wire would of been outside of my annual income, and I guess it would of been a huge red flag. What bank freezes an account where the party has actually told them that they did send the funds and let the wire go through. So, I am not allowed to do what I want or put the money where I want? Because it is for a lot of money. Like I said, would I have lost my new home if this had happened during the closing? Probably. So, they have the right to say what circumstances are acceptable? Its COVID time. There is no normal.
What I thought would be this great blessing of someone paying me back, has turned into a huge nightmare. I have never had any wire transfer issues with any other bank. This is a first. They make me feel like I did something wrong.

Ally is seriously terrible. I got suckered into thinking they are a good bank because of financial sites but I'm pretty sure it's just a well organized marketing gimmick. They have very long waits sometimes for customer service, whenever a transaction needs to be done it takes much much longer than most other banks to get it through. You have to jump through hoops to get out a wire transfer. I requested it over the weekend and called in early morning to verify, and they still don't get it done within the same day. They float your deposits and do not credit you same day or the next day. It is just the worst bank I've ever dealt with. Taking all of my money out.

Ally bank turned me down for a savings account because I don't have any credit. I have never had a credit card. I don't want one. I don't owe anyone money, either. Ally said "Your credit score doesn't meet our requirements."...... For a SAVINGS ACCOUNT? It's MY money! I'm not asking for a loan. Ally is condescending and snobby. Don't waste your time with this crappy bank.

I already have an investment acct so I thought it would be easy to add savings and cd. Oh no! For a digital co, they are backwards. I had to apply by calling in. Then after giving some random agent my personal info, they never followed up with an email. I thought this odd so I called 2 days later. Waited nearly 30 min to speak with a very RUDE agent. Then, I get a letter 4 days later that said they could not verify my identify. Seriously?? I have an account.. for over a year! Opened 2 accounts with Synchrony. Super easy and my money is already earning interest. This bank is a scary joke. Don’t send your hard earned cash here!!!You have been warned!

The customer service is great. However, just received another notification regarding a savings interest rate decrease. 2 interest rate decreases in a few months and 3 total in under a year. There are many other banks that still honor and provide close to or at a 2% interest rate. They've essentially removed the entire incentive that brought us (and I am certain, other users) to use this bank in the first place. We'll be taking our money out and moving to another bank. I am glad we never moved all of our money here.

I did a mobile deposit of my federal tax return to Ally Bank on 4/29. Two days later when the money was in my account, I wired it to my bank in Hawaii because all of my bills including my mortgage, solar, cars, etc. are paid out of Central Pacific Bank. I received a call Wednesday 5/1 from the Ally Bank Fraud department saying that they froze my account dues to suspicious activity. I was told that the verification of funds would take 24 hours. On 5/4 I called and was told to call back Monday 5/6. I called back on the morning of 5/6 and was told that there was nothing that could be done pending the US Treasury Department. I then attempted to call back twice directly to the fraud department where I was hung up on after 2 calls waiting for 20 minutes each. I then called back to the regular customer service number where I was transferred by the customer service agent to the fraud department after 1 hour on hold. I spoke to someone there briefly and I asked for a manager. I was put on hold and approximately 4 minutes later I was hung up on again. I called the treasury department and was told that the funds had been released to the bank on 5/1. It's 5/6 and my money is still not available to me, and my Ally bank account is still locked including my other savings account. They are choosing to hold my money that has already been released to them 5 days ago by the federal government. I am now being told that the review would take until 5/10. This is 9 days after the funds were released to them by the US Treasury. DO NOT USE THIS BANK, THEY ARE CRIMINALS. I have filed a complaint with the Federal Reserve, and will also be seeking legal representation to get my $14,468 of my money back from these crooks. SHAME ON YOU ALLY BANK.

Opened joint account online on 4/7/19, after entering all my personal info, I received a message that "DUE TO HIGH VOLUME" response time would be 3-5 business days or longer. WAIT, WHAT? I'm giving you money, and I need to wait a week? OK, deep breathe, I will wait for the 2.2% rate. I ended up waiting 6 business days, then went online and started an online customer service chat, gave my app ref # and they said my information was not on file. WAIT, WHAT? What happened to my data? My SSN, personal info, not on file? Online rep took my cell and said someone would call me within 1-2 business days. UGH, ok I waited. Today, 8 business days later, I call in and speak to a rep who says my information could not be authenticated? WAIT, WHAT? I had to call Ally Bank to find this out? NO WAY, but yes it's true. The rep also said they could not delete my personal information so my data is out there. I went online tonight on Marcus by Goldman Sachs, took me 5 minutes and application was approved, and we made our initial deposit of $25,000.00 at 2.25% interest. 100% TRUTH AND UNBIASED REVIEW.

Once again Ally Bank has one of the highest interest rates for savings and money market accounts, they reimburse your ATM fees up to $10 month who else does that? If there is a problem customer service is excellent and accommodating.
I will continue banking there for long time.

My wife opened a money market and savings accounts. The MM was for moving money in and out and savings was to park most of it at the higher interest rate. She misunderstood the agent who opened her accounts. Since she intended to write very few if any checks she turned down the starter checks for the MM thinking they were a full chargeable set. Later she found out they were only the complimentary starter checks and she called back to request those. Instead, an order for a full set of regular checks was created, the agent failed to confirm what was actually happening. In the meantime my wife moved almost all her funds into savings account. This generated an overdraft when the check order was processed. When she called to complain she was told nothing could be done. So she has checks she did not want, paid an overdraft fee for that privilege, got a letter months later about an extended hold on her deposits because of "repeated overdrafts" - there was only the first one. She waited 5-10 minutes on phone to complain again but gave up. The website took three tries before accepting her email. The result of all this was an automated email trying to explain away the hold on deposit funds. She got tired of being mistreated and is done with Ally. I also had accounts with Ally but no more. Products are good but service is horrible!