In addition to a range of CDs, money market accounts, savings accounts, mortgage, auto loans, and personal loans, Ally Bank's offering a checking account that is rewarding in so many ways.
Not only are the fees on Ally Bank's Interest Checking Account significantly lower than what other banks usually charge, but there are also many other benefits included in this checking account offer that make it hard to pass.
Depending on the amount you keep in your balance, you will earn a variable interest, without having to keep a minimum amount of money in your account. You'll also enjoy access to many free tools, and financial resources to help you manage your finances, and make smart financial decisions.
You'll be able to use your Ally Bank Mastercard debit card anywhere Mastercard's accepted, and connect your card to your mobile device to use it as a digital wallet.
If you're a fan of technology, you'll love Amazon Alexa, which lets you do basic banking tasks using your voice!
Some of the downsides of Ally Bank's Interest Checking Account might be the fact cash deposits aren't possible, but, with so many other ways to fund your account, this should not be a problem at all.
Checking account details
- Ally Bank Debit MasterCard® with cashback, Google Pay, Samsung Pay, Apple Pay, and Microsoft Wallet.
- Online and Mobile Banking, with a Mobile App, and Bill Pay.
- Ally eCheck Deposit℠.
- Ally Skill™ for Amazon Alexa.
- Send money with Zelle®.
- Free access to Allpoint® ATMs in the U.S.
- Free eStatements.
- Free standard or expedited ACH transfers.
- Free standard checks, deposit slips, and prepaid envelopes.
- Free domestic and international incoming wire transfers.
- Financial Life Tips & Tools.
- Ally Wallet Wise.
- Free Anti-Virus and Anti-Malware Software.
Checking account fees
APY0.10% / 0.50%
Minimum Deposit to Open$0*
Out-of-Network ATM Transaction FeeVariable*
Out-of-Network ATM Withdrawal FeeVariable*
Non-Sufficient Funds Fee$25
Foreign Transaction FeeUp to 1%
Ally Bank Interest Checking Account FAQ
Yes. You can bank with Ally knowing your deposits are insured up to $250,000, because Ally Bank is a member of the FDIC. You can learn more about FIDC insurance at https://www.fdic.gov/deposit/deposits.
Besides, Ally Bank takes a serious approach when it comes to ensuring their customers safety. Not only does the bank use extra security measures, such as two-step authentication, firewalls, and encryption, but it also has a guarantee in place protecting you against unauthorized transactions. Plus, Ally's customers can download free Webroot® SecureAnywhere™ Antivirus software, and install in on up to 3 devices.
In case you notice any suspicious activities or fraud, you should call the Ally Fraud Hotline at
Yes, but you need to know that your Ally Bank Interest Checking Account will be closed if not funded within 30 days of account opening.
You can fund your account by making a transfer from a bank account, by check or a wire transfer.
No, Ally Bank doesn't accept cash deposits. There are other ways you can make a deposit into your account, including remote check deposits with Ally eCheck Deposit, online transfers and direct deposits, wire transfers, and mail.
Ally Wallet Wise is a free financial education program that offers courses on budgeting, banking and investing, credit, and auto finances. In addition to these four introductory courses, Ally Financial also hosts and helps organize various workshops and events, the list of which is available on the official Ally Wallet Wise website.
These resources are only some of the initiatives Ally takes to help people learn about finances, make smart financial decisions, and take control of their budget with more confidence. They can be used as a go-to source of information and guidance if you ever need help understanding financial terms or topics. You can explore content, take a quiz or use Ally's tools by visiting their Resources.
Ally Bank won't charge you any fees when you use an Allpoint® ATM in the U.S. You can find a fee-free ATM on the Ally Bank website.
When you use an out-of-network ATM, you'll be charged whatever fees the ATM owner or network charges. However, Ally Bank will reimburse up to $10 at the end of each statement cycle for fees charged at other ATMs nationwide.
If you're travelling abroad, you'll be charged foreign transaction fees of up to 1% per transaction, regardless of which ATM you use. Fees might be higher if you use a non-Allpoint ATM overseas.
Ally Bank applies an APY based on the amount of money you keep in your Interest Checking Account balance. An APY of 0.10% applies to daily balances of less than $15,000, while a 0.50% APY applies to daily balances of $15,000 or more.
With your Ally Bank debit card, you can request cash back when using your debit card for purchases. The card reader will usually ask you if you'd like cash back, and, if you do, you'll be asked to enter the amount and your PIN. The cashback amount will be added to the total price of the transaction.
If you buy something for $5, and ask for $10 cash back, you'll pay a total of $15, and get those $10 in cash.
So, this is not really a rewards program. The Ally Bank Cashback Credit Card was converted to a TD Cash Credit Card in February, 2020.
You can use your Ally Bank Debit Mastercard when traveling internationally, anywhere Mastercard is accepted. However, to make sure there aren't any interruptions of service while you're outside the U.S., let Ally know by contacting them at 1-877-247-2559 to set up a travel notice for your account.
Ally eCheck Deposit allows you to deposit checks online or using the Ally Mobile App. It's a convenient, secure, and free way to quickly deposit your checks. That said, it's much more convenient to deposit your checks using Ally eCheck Deposit with your Ally Mobile App, as all you need to do in that case is take a photo of your endorsed check, and submit it. If using a computer, you'll need access to a scanner to upload an image of your check.
Your funds will be available in your account within up to 5 business days, depending on when you've deposited your check(s).
You can use the Ally Skill for Amazon Alexa for many banking tasks using your voice via an Alexa-enabled device.
You can check your balance, make money transfers, get recent transaction information (type, vendor name, amount, date), get today's rates, and even ask Alexa for price check-ups with the Ally CurrenSee feature.
You'll have to set up a password in order to protect account access, and your confidential information. If using CureenSee, you'll also need to provide your annual income, and the number of hours you work each week to get a personalized answer about the prices, and hear how much you'd have to work to afford it. However, this information won't be shared with anyone, so there's no need to worry.
If you ever want to disable the Ally Skill, you can do so within the Ally Mobile App.