After being GMAC Bank first and then changing it’s name to Ally Bank, everyone’s no doubt seen the new advertisements that emphasizes no fine print. When I heard about the new name and with General Motors filing bankruptcy, the first thing I can think of is whether my money will be safe. Of course, I went to research further before my readers make any mistakes with this bank so this review represents what I think of whether putting money into its savings account offering is worth the time.
Sign up for an account by clicking here
Safety of Ally Bank
First things first, Ally Bank saving accounts and CDs are all FDIC insured so our money is safe. The limit is $250k right now and it won’t be adjusted back to the original $100k until the end of 2013. To increase the amount that you are covered for even further, you may want to open separate accounts under your name and also joint accounts so you get a higher limit. (Another way is to open accounts across different banks, which is actually safer.)
Products Offered from the Online Bank
Ally Bank offers 2 main products that we are really concerned about – an online savings account and a certificate of deposit with above average rates. The extremely good interest rates for this type of products and the bank being FDIC insured prompt me to open an account with them.
When I opened an account, it was also nice to see that I can actually open multiple savings accounts and certificate deposits all on one screen. No more submitting multiple applications and spending time filling the exact same form more than necessary.
Ally Bank is Another Excellent Option
There’s really many options out there to compete for our money, but it’s nice to see that there’s still a savings account that offers more than a 2% savings rate. The name GMAC may spook you in opening an account, but the safety of the FDIC guarantee should provide comfort, especially since you are getting more interest by going with them.
- Ally Bank – Official Site
Other News You May Want to Know About the Ally Bank
News on This Financial Division
It seems that the American Bankers Association would like Ally Bank to lower its deposit rates because it’s so high. In fact, they sent a letter to the FDIC saying that they think Ally Bank shouldn’t offer a rate that’s almost double the national average. It’s a little absurd to think that someone would publicly express concern when one of the bank is clearly trying to gain deposits by offering attractive rates but hey, nothing should surprise us by now right?
Of course, Ally Bank fired back an email that states that the bank is very well capitalized and with the rush of people opening accounts because of the high rates, the capital position picture looks better every day. It is also saying that it will continue to offer high interest rates for its customers.
Is GMAC Really GM?
Many people asked me about this already, and I actually had the same question myself. I always thought that GMAC Financial Services was part of General Motors but I was wrong. GMAC is actually a standalone banking operation that provides lending and banking services. The difference with GMAC to a traditional loan is that instead of offering mortgages and home equities to consumers, GMAC offers loans and lending to GM and Chrysler dealers to finance their operations.
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@Steve D:
I saw this on the news this morning. GMAC Bank, now called Ally Bank, was formed in order for GMAC to receive TARP funds and with latest infusion of cash, it is a Government Controlled Bank. The Fed is taking over.
It was not formed so that gmac could recieve tarp funds, the name was changed to help symbolize the banks change from just a bank to a bank holding company also the funds where accepted by gmac fincial services a subsidiary of GMAC so no the fed did not and is not talking over ally bank please research items before you jump to conclusions.
FORGET ALLY – don’t waste your time.
I recently moved money for myself and family members. Wjhen I applied with Ally they declined me. I have a FICO score of 830 and perfect credit for 30 years. Their reason? My phone number did not match their background service’s (mystery) record for my phone number. /they offered me the “opportunity” to reapply and I properly told them to forget it. The morons lost a total $1 million in deposits due to a mystery phone number!
It took me 5 minutes to open 5 accounts at American Express Bank and they had no problem with my phone number and they were intelligent and grateful for the business.
Let me get this straight,
You’re angry because they declined you an account because they have strong security measures?
Pretty silly if you ask me.
I just happened across this and figured I would address it. There are 4 different credit reporting agencies in the US. Some companies use just one of them. Ally Bank checks at least two, to the best of my knowledge, as an additional security measure. If AmEx let you in that easily, that’s how easy it would be for a fraudulent application to go through. Ally needed to speak to you because they give a crud about security and fraud.
Or you could have an account with the guys that just make it easy.
If I had to choose one bank today, it would be Ally. I started of as a sceptic and have been just more and more impressed with every facet of their customer experience. Good rates, great customer service and even the web interface keeps getting better. You guys rock!
I fully agree – was sceptical prior to going “online” but have used Ally’s online savings account since September ‘09 and been very pleased. No fees as long as I do transfers on the Ally website interface whether from my checking (my local bank) to Ally or from Ally into my checking account. Transfers take 2-3 days either way which is ok since the interest rate is so far above what I’d get at my bank. Recommended – take the plunge and you won’t be sorry seeing the “decent” interest paid monthly being added on to your balance.
PS. I’m no way affiliated with Ally and I have not tried any other online banks and won’t change as long as rates stay competitive.
I personally think your TV ads with the small children are extremely tasteless & border on child abuse! The idea of an adult displaying trickery & then laughing about tricking a child should be banned & you should be fined!
John Mahon, I hope you don’t have children. The world has enough stupid people and you shouldn’t increase the number.
Amen Adam.
John, (and the rest of idiots jumping on the “i hate Ally bandwagon) is missing point of the commercials. The adults who are “tricking” children are the other “big” government banks, not Ally. The commercial shows how customers (the children) are treated when doing business with the other big banks, i.e Bank of AMerica, Wells Fargo/Wachovia etc. Ally is attempting to show how they are different. Now then, with that being said, I am not an Ally customer and although i find the commercials cute (because i understand them) I believe that they may be a little misleading in getting their message across. Also, regarding Ally owned by GM/GMAC – you should do more investigating – GMAC sold major portion of their shares to – yep, you guessed it – the US Government.
So – buyer (or saver in this case) beware
I agree with John and also find the adds tasteless. Ally should pull the add and find another add agency.
Only a person who abbreviates the word advertisement as “add” would say something like that.
How tasteless are the big banks that aren’t giving you a decent return on your money and rape you with interest hikes and fees?
Thank you, John Mahon — for expressing my revulsion at the advertising used by Ally Bank. I have had a long career in TV, radio and advertising but I also come at this as a woman, mother, and grandmother.
The three commercials which have been running since mid-2009 according to my information, are more than atrocious. There are several themes running simultaneously in my opinion. Irritation advertising — which does work sometimes — is not what a bank should be after. Repetition is OK, but running these three ads for all this time is ridiculous. Bait-and-switch is only one theme, which I really don’t accept where reorganized banks are concerned. Positive advertising works better in the long run.
There is an underlying “beauty” and self-image issue, too, for the little girls who get ponies. Think of it this way — what if the REJECTED little girl was BLACK — instead of just being brunette? Unacceptable. The whole meaning changes in my opinion. So, light-haired (and light-skinned) girls are viewed as prettier and more deserving than dark-haired girls. Perhaps you never thought of this, but I assure you that this dichotomy still exists all over the world.
Do yourselves a favor. Get some other commercials working for you. Good luck with your business.
Cordially,
Ellen Kimball
Portland, Oregon
Ellen, the subtext of PRIVILEGE is the point of the ad in question. The blonde girl was used to represent privilege; it has nothing to do with race or beauty per se.
You might want to read up on semiotics before going off half-cocked.
It’s alright John; I’m sure those kids completely deserved it.
I thoroughly agree with John that the ads are tasteless and, if not child abuse, are certainly very unkind. When I called to complain about the ads I was told the children were “actors”. While this may be true, I still think the ads should not be shown. I have hoped that they would just disappear. As a former educator, just the idea of treating a child this way is, if nothing else, a poor one! Certainly not a good idea for others to emulate.
I think your ads with the children involved are very negative ads.
Every time I see one, I only think poorly of the company who runs them.
Knocking the competition never works.
Time to get a new ad. agency
Obviously their commercial’s are working. Just ask anyone, “What’s the name of the bank that uses the children?” I’m sure everyone would know the name and that’s exactly what the advertiser wanted to do. So whether you like them or not, it worked. I too wanted to find out what customers reviews were on the banking aspect not advertising.
They are still tasteless commercials.
A good agency would attempt to have potential customers remember the advertiser in a positive way.
Why do you think many of Tiger Woods’ sponsors are dropping him from their ads, and ending their contracts ?
To use your logic, would it not be better to decapitate someone, everyone would remember which company ran the ads, but would you deal with them..I don’t think so!
I don’t understand how they are tasteless. No children were actually harmed in the making of the commercial and no one with half a brain would think that Ally was encouraging people to actually treat children that way. Anyone who thinks that should not have children in the first place.
And even if it were, it’s less tasteless than what is actually going on. Banks are treating adults that way, with their money, not with toys. They trick you with big claims and then take everything away from you with the fine print. The kid will get over not getting a toy truck, how are you going to feel about loosing thousands of dollars while a banker laughs at you.
Even the stuff they don’t lie about is ridiculous. The best savings interest rate I can get out of a bank with a physical branch within a hundred miles of me (seriously, I have called every single bank in that radius) is .5 percent, and that happens to be Chase. That’s with a $15k minimum. What do they do with your money? Loan it out. Their average credit card rate is above ten percent. Mortgages? As of the call I made last week, 5.8%. Cars? 6.2%.If they can’t find anyone to loan it to they put it in blue chip stocks and get four to six percent, so lets call that at 5 on average.
With that in mind, lets say you have a $20k savings account with Chase and you get a $20k car loan from them. When you loan them money, which is all a savings account really is, you only get half a percent. But when they loan you your own money back, they get 6.2%? Why? The only thing it is costing them is a couple hours for someone to approve it and set it up in the computer, and then some paper for sending you the bills. If you go paperless and do automatic transfers no one may even look at it again for the rest of the term of your loan. It costs them next to nothing, but they are raping you for 5.7% on your own money.
That is tasteless. If you don’t like the commercials, go to the bathroom.
I love the commercials. I am a mother of three boys and one on the way. I am well aware of how treating kids fairly is a big deal. Two of my children are twins. Everything I have bought or done for my children has been done equally.
Maybe the people running these other banks had mothers that didn’t do that for them and now they are doing the same to us.
These commercials just make you think. Which more of us need to be doing.
You’re a tasteless commercial Dave
If I were looking for a bank I wouldn’t choose yours if it was the last one on the planet. Your commercial with the “cute” blond girl who gets the real pony and the poor plain little girl who gets a plastic pony is horrible and tasteless. What kind of message is that which you send out to kids possibly seeing it? One more time where “looks” win out. All children should be led to believe they are beautiful
Many children are not beautiful. I don’t think we should lie to children.
LOL – But really, I agree.
People who think that these commercials are somehow abusive or discriminatory or any of that are the same ones who think that all kids should get bumper stickers about school accomplishments, even if they are stupid, lazy and accomplish nothing but showing up– then they get jobs and work for me and they are stupid, lazy and just show up- and want to be paid.
As for the advertisements, only a morn would get this sociological nonsense out of them. They are merely telling the story that Ally makes you a better and more sensible fair deal than you are sued to from a bank. I just saw the “egg management fee” one and it is hilarious.
You are not understanding the fact that those are highly paid actors whos parents signed a contract for them to do the comercial. People like you call ally bank every day and complain to them about how “tasteless” the comercials are and how you wouldnt bank wit hally if they where the last bank on the planet but how many of you contact those kids parents to tell them they are irresponsible? stop complaining about a bank in which you know nothing about because of their comercials because you make yourselves sound uneducated.
Haha. Looks always win out. I’m sure that is exactly what Ally was trying to stress in this commercial!!
Poor little plain girl? Why is she plain? Why would you think that? I think the brunette is cuter. Maybe you are just biased. You say that kids should be led to think they are beautiful but in the same paragraph, refer to the kid with brown hair as “poor and plain”. That’s YOUR perception.
Good luck getting your money after a certificate of deposit with Ally Bank matures and you told them not to renew it. Their policy states they will transfer it within 24 to 48 hours. They don’t follow their policy and hope it goes past the 10 day grace period in which case it renews automatically at a lower rate. Then you have to write letters to them and it will be weeks before it gets resolved. You know the TV ad with the pony? Well, everyone gets the toy pony no matter what they claim. No wonder Ally has a C minus rating from BBB. Don’t bank with them. Go to a community credit union or bank instead and keep your money working locally and where you can talk someone in person if there is a problem. A little extra yield on a deposit account is just not worth the aggravation with banks like Ally.
Shorebreak you are so right!!! I had money transferred from my 401K to Ally and they have LOST, yes LOST my money and I have been fighting with them for weeks now to get my money! I will NEVER again bank with them, they are lairs!!!! After they FINALLY locate my money, I will clean the account out and go elsewhere!! I RECOMMEND THIS BANK TO NO ONE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Victoria I’m sorry you feel you have lost your money to this Bank. However if you had done a little research. You know make a phone call, sent an email, or use the handy chat feature you would have found that Ally Bank does not deal in IRA accounts or retirement accounts of any kind. Ally bank saved you from getting huge early withdrawal penalty.
I’ll be removing my money from Ally as soon as they will give me access to it. I recently tried to redeem a couple of CDs that had matured. They were not able to complete the redemptions within the timeframe they promised. They gave some excuse about a big backlog of transaction requests from customers. I’m still trying to get the money back. As soon as I can get these CDs redeemed, the money will go to another bank!
Well I guess people like Ally and people hate Ally and for those individuals who don’t like the commercial, lighten up. It’s a commercial to make a point omg you guys shouldn’t be watching tv way to sensitive. I am going give this bank a shot every thing i read is positive.
Don’t be confused! Ally has been a great bank for me. I have been with them for over a year. People are saying the CD’S have been a problem; I’m not sure about that, as I do not have any with them. I do have a savings and a money market account with them and I have been very pleased to this point.
I have been watching your ads on cnbc for as long as they have been playing. I decided to write you to say they are very cleaver and I have a smile on my face every time I see them. I never realized that so many people wrote a comment both pro & negative. If i took the time to write you they are great.
Confused… I couldn’t agree more… Everyone is so damned PC anymore it is killing this country and if these people are more focused on these simple comercials just because they have children in them…Well enough said… As for the bank itself, the concept is good and in hearing the few people here that are actually talking about hte bank and it’s performance, I will probably sit and watch it for a while before opening an account, but that doesn’t mean I won’t in the future. It is a start up for the most part and there are bound to be growing pains until they get the processes and people in place to run it how it should be run….
I have to say that I absolutely love Ally. Not only can I manage my money online but they have an IM feature that lets you do your banking from home online with a REAL person (yes, I asked), just as if you were at a physical location. I’ve never had any problems and have always been treated very well and unlike most banks, their call centers are very professional and all speak American English! lol that’s saying a lot!
Bravo Danielle… Thanks much for the honesty and not focusing on the commercials… Maybe I will open an account sooner than expected… A lot to be said for an American company with a customer support base that you can actually converse with…Thanks….
All of you people claiming to be happy with ally, it is only a matter of time before you are not happy with them. Like when they lose your money as they did mine!! I have been fighting to have my money located and returned to me so that i can take it and go elsewhere. In fact i have opened another bank acct. Ally knows this and i truly believe they are purposefully keeping my money from me so that they can gain interest for as long as they can. They are cheats and lairs!!! Recommend this bank to no one you care about. And be ware, they are not what they seem, i too, thought this would be my dream bank, and because i forgot the old but true adage: if it sounds too good to be true it probably is! And now i am having to fight to get what is mine, the whole purpose of using the bank was to keep my money safe and out of the hands of potential thieves. Well, the thieves got it, and won’t give it back!! Any suggestions on what i can do? Is there a banking oversight committee or something like that out there?
I worked for ally bank so I know the ins and outs. What is the actual problem?
There is a government agencies that consumers can file complaints with.
The Office of the Comptroller of the Currency
Here is the link: http://www.helpwithmybank.gov/contactus/index.html
Good luck
Ally bank also did this to me!!! I opened an account and deposited my income tax check, $14000.00, and waited 8 days for the check to clear…After it cleared and was made available I withdrew some funds to pay bills and then they put a block on my account claiming that the check didnt look authentic..(isnt that what the 8 day hold is for?)..I waited a week for them to resolve this issue and when they didnt I called HR block with gmac global security on the line 3 way to verify the check…The woman from hr not only told him that the check was good but also told him that someone had called the previous day and verified the check and she told them the same thing…The gmac security guy told me to call him in 15 mins and he would have the problem resolved but when I called he wouldnt answer…He would always answer my calls before but after the call to HR its been 3 weeks and he wont answer or return my calls and ally says that he is the only person that I can talk to about this issue…lol..When I call they are very nasty to me and say that I call everyday but I ask them what would they do if it was their money…I think that you are correct in assuming that they are using the money while they have it on hold…Im gonna write my congressman and let him know that a “bank” that just recieved billions in bailout taxpayers money is stealing taxpayers money and their income tax checks to boot…I think it may be “newsworthy”…We also called the BBB and its a 30 day process but it may be worth it for you…Plz let me know if you make any progress???
I was watching TV the other day, and saw these little children with sad looks one their faces, because they supposedly “didn’t ask for something” If that’s the best you can do with commercials, I would hate to see how you run your banking. That is one of the worst commercials I’ve seen. No one likes to see a child hurt. Fortunately, I live in a rural community and we don’t have your bank(thank goodness). I realize this has nothing to do with banking, but it has bothered me so, I had to get it off my chest. Patricia Crawley
Ummm… Ally is an online bank……. It’s on the internet so there isn’t really branches in the traditional sense located in any cities.
Nice try though!!!
I have been an Ally bank (formerly GMAC bank) customer for a couple of years now. I am extremely satisfied. I currently have 5 accounts open (money market accounts for me and my three kids, plus a 1-year CD). I am about to open another CD account. I have had a couple of CDs make it through the full maturity cycle, one of which I allowed to renew and one of which I cashed out of. No problems. I have never had any issue at all.
I absolutely love their web site. It is incredibly easy to transfer money to and from my bank accounts at other banks and my stock broker. I can transfer money to one of my kids accounts in 30 seconds. The security seems fantastic on their site.
I have called a couple of times to their 800 number and have never sat on hold at all. I talked to real people who spoke real, unbroken English, who actually knew what they were doing and didn’t have to put me on hold or transfer me! What a joy! 100% positive experiences every time.
No hidden fees. No charge for checks or an ATM card. You’ve got to like that.
I take it back . . . I did see them do something wrong once. I got a check in the mail a week or so ago for 75 cents. They said that due to a computer error, they hadn’t given interest on leap day, February 29, 2009 and they were correcting the mistake. Good enough for me.
I have made many hundreds of extra dollars from their interest rates compared to my local banks. Going with Ally has been a very smart decision.
> They said that due to a computer error, they hadn’t given interest on leap day, February 29, 2009 and they were correcting the mistake.
I wouldn’t trust a bank that thinks there’s a leap day in 2009.
Why not? He won an extra day in interest!
Nobody should trust a bank that thinks there’s a leap day in 2009, because 2009 is obviously not a leap year!!!!
Duh!
I do not like your commercial onTV showing small children …girl on bike trying to ride in a small space and another little girl getting a toy pony instead of a real one…hope you change your thoughts on these commercials…
Some of you need a class in logic or just need to pay more attention . I do not know if Ally is different from other banks or not…but, I do know the ad is directed at banks who hide things in small print and take other steps to fool or take advantaqge of their “grown-up” customers. The ad is making a comparison between banks who treat their customers unfairly and adults who would treat children unfairly. The makers of the ad “expect” everyone to find the treatment of the children repugnant…as repugnant as they find mistreatment of bank customers. And, for Pete’s sake, grow up and realize the children in the ad are actresses, are being paid, and are not being mistreated. It is NOT real. In fact, you should change the channel and watch your soaps…
WELL STATED Huh!!!!!!!!!!!!!!! Couldn’t agree more…………..Wish there were more like yourself in this world…Wouldn’t be as F’ed up as it is getting…
Reality seems to be a thing of the past anymore… Not to mention common sense…
Reading the commendt from “Authors” such as Huh?, I get a distinct inkling that they are from, either the “bank” or the AD agency, trying to justify their value. The latest one from”Huh” says they are ” directed at banks who hide things in small print and take other steps to fool or take advantaqge of their “grown-up” customers. The ad is making a comparison between banks who treat their customers unfairly and adults who would treat children unfairly.” I don’t know why Ally would spend air time money at other banks. I have reviewed other bank Ads and they are directed toward obtaining new accounts/customers. If these comments are from the Ad agency, they should let us know who they are. I sure would never use them!!
People complaining about the commercials……GET EFFIN OVER IT! Obviously these children are PAID actors, who have been allowed by their parents to do this commercial! I think this has nothing at all to do with how they run their bank!
BRYAN B January 21, 2010 at 9:54 am
People complaining about the commercials……GET EFFIN OVER IT! DID I COMPLAIN WHEN THE GUYS IN THE NICE WHITE COATS DID A MEDIAL FRONTAL LOBOTOMY ON MYSELF? Obviously these “DRS” are PAID actors, and thats why they turn on the nice twirly red light on the nice white truck when they come and “get me” when I “forget” to take my meds! When I dont take the meds, the people in the white coats, “parents” have been allowing me to do this commercial! I think this has nothing at all to do with how they I run Ally bank! Yours truly, CEO/Janitor/Patient of ally banking!!!
I must say I have been looking around for a new bank because Chase is not cutting it and you know what I find? I find morons complaining about a commercial that they simply can’t figure out is not real life. It has a point that is so over your heads its embarrassing. Does it really bother you? If it does, please shut off every single medium that is coming through to your house and just sit in a room and read a book that suits you perhaps snow white, oh wait the witch might be too cruel…on second thought read the local paper…oh real life is too cruel….on second thought how about just sitting in a room by yourself and twiddle your thumbs because you are WAISTING everyone’s time with your sensationally sensitive non sensical moronic ways.
Thank you so much for that Paul. There are some really ridiculous people out there. Let’s judge a bank on their “Real-World” commercials. Too long commercials have been duping people into this false reality of what the world is like. God forbid if a little truth comes out in one, you will have evangelicals tooting their holy horns!
I had a number of CD accounts with Ally. All of them went through an entire interest cycle but then decided to close before the next cycle ended. Because I closed early I couldn’t get my money deposited directly into my bank but instead had to have it either wired (i.e., cost me extra money) or mailed. I asked why I couldn’t just have the money electronically deposted into the same account that I had originally deposted the money from and got a nice run around explanation that basically said, “You’re stupid and here’s the blather pitch! Blather, blather, blather…”
I closed my accounts on a Friday, got an email Monday saying they were closed (on Monday) and as of Friday am still waiting for the money.
The up front services are OK but don’t expect to see your money quickly if/when you close your accoutn “early.” And I guess I have to admit that I was stupid to do business with them in the first place. (Blather, blather, blather…”)
Guess I’ll go back to USAA.
That’s pretty much how all direct banks work. The best way to avoid your situation is to also open an Online savings account along with a CD. Since there is no minimum balance, it does not cost you anything to do that. That way when your CD matures, you simply transfer the CD balance over to your savings account which is immediate and then transfer the funds using the free electronic transfer capability to any account you want. I have used this without any problem and Ally is better than most banks when it comes to quick transfers. I just noticed that they added a checking account capability as well and I am looking into that since I have been very pleased with the other deposit products.
Cause, ya know, the mail doesn’t take longer than a week at all. EVER!
Josh,
Checking means you can write yourself a check and take it to any bank to cash it if you need cash now. They don’t mean that they’ll mail you a check. Do you even have a bank? Or maybe you just keep your money under your mattress so you can have easy access to it.
Everyone,
If you need money that you put in a CD cashed out early, you shouldn’t have put it in a CD. After penalties, you would have earned more simply saving your money in a high yield account most of the time. Stop being stupid and plan ahead. A certificate of deposit is supposed to be a promise to lend the money out at a certain rate. How would it work for you if the bank suddenly wanted the money it lent you for your mortgage back?
I called today and spoke with one of your salespeople. However, I did not feel that my complaint would go further than the phone call.
Your current advertising campaign, depicting small children being offered ‘a pony’ or ‘a bicycle’ and then having said offer withdrawn is abusive, deceptive and downright obnoxious. This mocks children and leaves nothing but a negative feeling towards your institution.
Certainly, with the many advertising agencies throughout the country, replete with creative minds, looking for work; your marketing department could do far better.
This is just something I cant understand….. Why do people keep posting like this is an ACTUAL forum from ally?? I see complaints. I see idiots saying “I’ll never use YOUR bank” (YOUR=Ally for those of you who don’t understand what I’m saying.
Honestly, lets go back and see what people have written.
So we get it. Some of you don’t like the commercials. Stop beating a dead horse.
Lost your money? Sorry to hear. someone did mention that Ally doesn’t deal with 401k’s.
You like the bank? Great! I’m interested in hearing more of what people think! that is why I googled “How is Ally bank doing?”
You don’t like the bank? I want to hear more. I’m doing my research. Why don’t you like the bank? What is it that you don’t like? (Yes, there have been some people saying they don’t like it)
As for the guy saying that he wouldn’t bank with Ally because they paid for a leap year that didn’t occur in 2009-> This bank USED to be GMAC. So they have been doing business for quite a while, I’m sure. Did you ever think that maybe the error wasnt one that happened in 2009?
My apologies for my rant to those who are reading here and are actually interested in finding out what other people think.
They are idiots, but you can see why they would be confused. This blog’s “review” was so obviously paid for that it SHOULD be considered an official Ally advertisement.
The commercials that I see every night involving children literally make me sick. If you guys can’t come up with something better than this, then no one should do business with you. I can tell you I certainly wouldn’t. The one with the horse and bicycle make me want to puke. Please remove these. I know I am not the only one who detests this act of exploitation.
Unfortunately, no. There are several of you with the same ridiculous comments about Ally making you sick with their commercials. They are extremely effective at getting their point across. How is it exploitation?? I’m sure these child actors/actresses and their parents are being paid for their time. They are NOT real people being tricked. They are acting!!
Lol we have another one!!
Do you people who are complaining about Ally’s commercials realize that you are writing on a 3rd party’s website? Do you realize that Ally will NEVER READ your comments on here? Do you realize that you are all whiny morons?
I think the commercials are great. They point out how most banks treat us adults like kids when it comes to banking as if we don’t have common sense. Enough about commercials I want a good rate for my money and I could care less about ponys and bike riders. If Ally can pay us more than the .50 rate I am currently receiving and they are FDIC insured, than they have my business. Some of you people need to watch your bank statements more and your televisions less. Stupid is as stupid does!
Wow, there are some really moronic people on here talking about their hate for a commercial. 1) Ally is as explained 100 times in this post is trying to get the point across of how different they are in their treatment of customers (no hidden fees, disclaimers, etc.); 2) Do you really think that the kids in these commercials are other than child actors or actresses!!??. It’s not like Ally is pulling these kids into a film session and terrorizing them. Get real people.
I just signed up for Ally bank. My only regret is that I didn’t do it sooner. Has anyone tried their checking account out? I was thinking of switching my checking to them as well.
Regarding the commercials. The kids are not being terrorized. Even if you believe it’s real (if you do, see a doctor) the kids are not screaming and sobbing. The kids just pout because they were “tricked.” The kid and the adult in the commercial are actors. They are doing something called….ACTING!
I suspect that the multiple comments about the ad might be from the same individual.
The commercials are great. People need to take the stick out of their butt. Live life, have fun. Have you never played a joke on someone before? I mean come on, don’t live life with a stick in your butt.
Brian March 2, 2010 at 12:53 am
The commercials are great for sadists!!! ally bank feels that people need to have a stick rammed up their butt so they can see how our executives feel when they get a bonus less than 1 billion dollars a year. Live life, have fun, and “donate” your money to allys execs. The taxpayer bailout money isnt enough!!! Have you never played a joke on someone before you scammed them out of their money? I mean come on, live life with a stick in your butt for our executives!!! Its the American way!!!
I just added the checking account to my savings account and couldn’t be happier. No fees to use any ATM, free checks, and no fees for overdraft protection if you link to savings account. What can I ask for more?
Enough with the commercial!!! I want to see more reviews of the actual services not how someone feels about a commercial. Maybe those complaints should be directed to another page and keep this one for actual reviews of the bank itself.
My thoughts exactly, Tina.
How ’bout everybody move their money to Ally and then the other banks will have to change their behavior. Who knows, maybe some company will create a fair credit card as well and invite some real competition in that arena. In many ways our “free market economy” is not free (or fair) for everyone.
Why would I want to move my money to an out of state bank? What did that out of state bank ever do for my community? Ally Bank’s Call Report is now available on the FDIC website. They lost 1.9 Billion in 2009. they may be FDIC insured, but I’ll pick another bank. As of 9/30/2009, they had 33 Billion in deposits and 31 Billion in loans. That is not a good ratio. It’s no wonder that they’re paying higher rates. They need the deposits.
Vince, thanks for posting. Where can i find info on their debt ratio? could you please post the link?
Thank you Vince for posting something that is viable in this conversation! This is information I can really use when thinking about opening up an account with Ally
That’s actually not a horrible ratio. Looking at just deposits and loans, as you’ve done, they have a current ratio of 1.065 (rounding), which is well within GAAP guidelines of 1-1.5. You are also neglecting to look at any of their other assets/liabilities, which may shake things up. The whole point of a bank is to reinvest their money to raise profit. If they had many more deposits than loans, they would be a bad bank because of all the idle capital.
Its a commercial!!!!!! End of story. I wish people would write to their senators or congressmen with such fervor. Then maybe we would see some real change in this country. But instead, you waste your time and energy commenting about a commercial which, for those of you who found it offensive, only watched once. Twice, if that. The fact of the matter is, Ally offers one of the most competitive savings rates of any bank out there. Period.
are people really offended by the commericals? the kids are actors do any of the offended people know that? there are way too many sensitive people on this page. and do people know they are suppose to imagine themselves getting ripped off by the banks. seriously.
I’m afraid those of us over 50 will have to “endure” what our kids in their 20’s and 30’s find entertaining. I have kids in these age ranges and they take offense to nothing and think everything they find entertaining should entertain the rest of us. Of course we all “get” the message the Ally Bank commercials wants us to hear but why stoop to this level? Right of the bat they take a walk on the wild side because all of us have tolerated this level media for a while now so why not just follow suit. Heres a thought, try using English. If your bank has a message then just say it. I too had to watch the commercial online in order to find out whose behind it. Good thing I’m prior military and can bank with USAA!! They’re the best…check them out.
I’m fairly certain the message is said at the end of the commercials. Also, the adds I see in newspapers and magazines speak the messages. If the commercials were all text, you’d probably complain about that!
I had been laddering 6-month CDs with USAA, but it was getting to be too much trouble. I have to call them each month when the CD matures if I want to add money to it, and if I call to close the CD they are very nosy and want to know why I am closing it. Unfortunately USAA doesn’t have the ability to close the CD or add money to the CD online.
Originally I had planned to get a CD at Ally, but the interest on the savings account was even better than the 6-month CD. It was very quick and simple to open the savings account. I do like USAA and I will continue to use USAA for most of my banking, but I will use the savings account at Ally instead of laddering CDs at USAA for my emergency savings money.
Also, I don’t like children. I was so disappointed when I read the comments in this forum, and learned that the children in the commercials were just actors. I thought they were really tormenting those children!
Don’t like children? So, were you created as a fully grown adult?
Thanks for the opinions everyone.
A bank I had $30,000 worth of cds at crashed in December but the government transferred my money to another bank in California. The new bank immediately cut my rates 60%. It took 3 weeks but I got all my money back and I am now searching for new savings institutions.
I have quite a bit of money in Discover bank which is rated at 5 out of 5 stars on Bankrate. 5 is the best rating. Ally is rated at 3 stars and their interest is competitive with Discover bank which is at apy 1.70% for a 12 month cd.
I noticed several comments about cruelty to children in the ads. I personally do not find them harmful to children but I am concerned about the person that is complaining about discrimination against a dark haired girl not getting a pony but the preffed blond girl getting one.
Chill out please.
In dealing with Ally Bank they have gone from hero to zero in my book. I rolled over a Ally 1 yr CD in Nov 2009 and open a penalty free cd and rolled all the money I had in the previous cd into the new one. I did this to legally avoid reporting accrued interest for 2009. I received a accrued statement for 2009 from Ally Bank. I called and a customer service agent told me that the No penalty Cd didn’t qualify as a reg cd. and that I would have to include the intrest with my 2009 taxes. I cannot find anything concerning this on their website or in any paperwork they sent me. Wheres the truth in Banking?????
Did you say a CD came to maturity and you rolled it over into a different CD? Wouldn’t your interest be posted, and thus taxed, at the time it is paid out?
I’m not even going to point out trying to avoid taxes which you’ll have to pay eventually as it is.
My hats off to the Ad agency! The Ally commercials are some of the best commercials I have ever seen. I was an art director for several large agencies, and wrote and helped produce many award winning commercials . Ally commercials use the children wisely and correctly to achieve their strong point. Anybody who doesn’t understand, or is confused by their message is truly a pathetic case. The real problem is, the same people who can’t even understand the point of a simple tv commercial, are actually voting for our public officials. no wonder we are in such a mess.
In that “horse” advertisement the dark haired girl’s disappointment and disbelieve emotions are so REAL I cannot believe that she is just acting. An ordinary child actress cannot fake it that well. If she has acting skills that good, she would be in hollywood. I am convinced that it was one take and she really was fooled. So, shame on the advertisers for this cheap trick Poor kid, she’ll never forget that bad feeling.
They are in Hollywood. One of the kids was in “Away We Go” just last year. He had one of the funniest lines in the whole movie. So why don’t we all stop harping on Ally’s ads, thank the ad agency for paying for that kid’s college education, and get back to talking about the quality of the company?
Thank you for the relevant feedback, Ally customers. You just made my banking decision so much easier.
Lol I wanna pull something like this with my kids someday…
I’m just kidding but seriously. Children can actually act. It’s pretty amazing I’ll admit.
What’s wrong with some of you. The commercials are a metaphor and the kids are not being abused. Nothing is taken away from them and things are corrected after the shoot. The last time your kid cried, you apparently abused him more. If one is prettier in your eyes than that’s your problem. They’re all beautiful to me. There may be an exception to how I feel about a kid (yours?) that’s never been disappointed and needs to face one within ear shot.
…does their acting background mean those awesome reactions were in fact; acting?
I hope not, that’s the best part.
Yes I am aware of all the positives of Ally bank but would not do usiness with a company that is so insensitive to choose the ad campaign they have
I have been amused reading all the idiots clamoring about the commercials: harmful and abusive to children, discrimination to the brunette, etc…Why would these people ASSUME that the blonde is the pretty one? THEY are the real discriminators! I, personally, think the brunette is prettier than the blonde. These kids are getting paid a lot of money, launching their acting careers. The simple fact of all this attention to the commercials is validity to the advertisement agency.
I Love Love the commercials -simple and get the point across that you don’t have to get ripped off by your current bank – and that’s ALL it is. I opened an account and am HAPPY!!!
you should be ashamed, poor little children, I would fire your ad agency people or whoever write these ads, the ads are child abuse at its higest and sadistic at the least the CRTC should pull the ads from the air, shame on you !!!!!!!!!!!!!!!!!
I am highly amused.
I was searching around for some info on Ally, and found this site. Yes, the writeup up top is obviously a paid schill job, but oh well. What I am amused about is the obvious one or two people in here who keep making up names to express “outrage” to a company about a commercial with paid actors/actresses that will never read any of this, because it is a third party website. Absolutely hilarious.
No wonder the US as a nation is going downhill so fast. For one, everyone is so wrapped up in their own worlds they don’t care about anyone else unless it is especially heinous. For two, people are so wrapped up in their own worlds mentioned previously they they cannot properly separate reality from fiction.
It is a television commercial, you blathering embeciles. If you wish to lose money or take your money elsewhere because an advertisement on the picture box upsets you, then good riddance – that is your low intelligence perrogative. Your amazingly low intelligence would be better served by burning your money for all the good you will do with it. I am not a very smart man, but even I can tell the difference between a real hurt child or one on a commercial. Think for a moment (if you have a brain) about all the child advocates they have on set to ensure no child does get hurt. Also, what about the parents? Hm? Sure, there are some, but do you think those parents will sign a waver to allow harm to their child? I don’t think so.
To the couple of utter morons that are here whining about a commercial – just to spite you I am opening up a savings, checking, and CD right after this with Ally. While you continue to rant to a website that isn’t even affiliated with Ally and shove your money in a hole, in your rear, or burn it to keep warm…I’ll be making more money by getting better rates.
So long, retards.
Now, now. Be nice. “retards” is not a nice word. I have special needs children. That is a word that is not welcome. As for the rest of your comment. right on.
So, if I invest in Ally Bank, will I be paid back by my kids’ inflation-devalued dollars, (we know the whole TARP slushfund game is financed on valueless cash printed in a hurry to make a big statement… and we know only a fraction of those monies has actually been paid to anyone other than to Congress and Senate folk… trying to buy nationlized healthcare… )
or will I be paid back by the money heaped around in the basements of the evil business empires that grew so fast that they ‘couldn’t fail’ (under the auspices of the evil genius with an IQ of one and an innate ability to fool the entire world dBa George Bush )…??
Lets face it. it’s plitics as usual with the players reshuffled.
I mean, a MAJORITY in power on their self-claimed Mission of the People… and they failed… and blamed it on the minority group…
Sigh. I think I’ll buy gold futures. Then just gold.
The Dems didn’t fail, they took the money and ran.
B Hussein O’Bama and Co. printed a bunch, gave some away, bought a few businesses, and kept the rest to buy more power in congress and the senate, who blamed it all on the stupid evil hatemonger re-pubicans who didn’t have enough votes to be heard anyway…
and you ALL believed them. God Save us All.
There was a DEMOCRATIC supermajority, and they couldn’t get anything done.
Why might that be ? You can not seriously think it was because a few Pubicans voted against them…
I think it ws because they were too busy elbowing each other for room around the feeding trough of TARP. OHHH! Looky what we did for GM and Chrysler and…
Ford, meanwhile, is kicking their butt and I guess didn’t take a dime… even though the emails are circulating about smashmouth takeovers if they DIDn’t take the money…
Actually arguing about a COMMERCIAL instead of direction your entire country is going… can’t see past the glass tube… or your own IPod, or your own navel…
It’s about time we throw ALL of the BUMS OUT!! Forcibly, in my preference, but any way we can get them gone, and gone NOW, before we really do get invaded by China or Japan or anyother country we have borrowed from…
We can’t even keep our head out of our collective butts long enough to beat a bunch of people living in freaking caves what makes you think we could survive a tete a tete against the Chinese Army…??
Fiddling while we burn. Freakin’ idggots, all of em. OR…..
really totally completely NOT concerned about the people the represent (representED, 250 years ago…)
WE are WATCHING a NEW and ARISTOCRATIC SOCIETY move into the FOREFRONT of our government proces, and doing NOTHING about it.
HAHA!! Well, I had to look up the commercials on YouTube since I don’t watch TV much and I gotta say – they are funny! I love them all. What a great comparison to lots of real-life situations and what great expressions on those cute little actors! OK, there’s my comment on the commercials.
Now, I’m going to pull my money out of my current online bank who’s APY has dropped to 1% and open a savings with Ally. Or, maybe that Raise Your Rate CD. Ahhh, so many options. And yes, I’m a real person who has absolutely no affiliation with Ally, to all you paranoids out there. The reviews here have cracked me up almost as much as those funny commercials did!
Huh? January 21, 2010 at 8:29 am
Some of you need a class in brainwashing given by ally banks professional name changing dept.. or just need to pay more of your hard earned money to them . I do know that Ally is different from other banks because I took the class and when I would disagree with them the instructor/Janitor would hit me so hard a knot would form on my forehead…but, I do know the ad is directed at unsuspecting hard working people who dont read entire contracts so ally can hide things in small print and take other steps to fool or take advantaqge of their “grown-up” customers. The ad is making a comparison between banks like ally who give the bailout money they recieved to their CEO’s for lavish vacations and when the head huncho’s spend customers money unfairly they say, “we are adults who would treat children unfairly”. The makers of the ad “expect” everyone to find that ally bank treats its customers like pugs…as “pugs” ally bank finds mistreatment of bank customers fascinating and exhillerating. And, for Pete’s sake, grow up and realize that the CEO’s are “has been” actors and actresses, who are used to big salaries, are being paid by stealing customers money, and will mistreat anyone from 8 to 80, blind, crippled or crazy to get what they want. It is FOR real. In fact, you should change the channel and watch thier commercial that says, “at ally bank, we don’t believe in taking stuff from people”…lol..(what would make ANYONE think of a “slogan” such as this unless that is what they are doing???) Sounds like a freudian slip to me and since the bank executives were sunning and funning, they didn’t care enough to check out the ad before it aired…
Took “the class”? What class is that, the Ally Bank Class…taught by the janitor? What are you talking about? I really want some helpful info on this site! I’m amazed by the mentality of people who go off on tangents. Ok, so what bank do you recommend people use where they can make a tiny bit of yield on their savings?? That’s the kind of info people are looking for on this website.
Jaxnurse February 28, 2010 at 6:16 am
Took “the class”? Thats the same class that I took to get my nursing degree, the Ally Bank Janitorial/Nursing/Class…taught by the HEAD janitor/CEO of ally bank!!! What are you talking about? This highly esteemed professor has been “johnny on the spot” when I really want some helpful info on this site! I’m amazed at the guys mentality, 13 IQ, and people have the audacity to go off on tangents about his credentials. He is my protege and will be helping me with my post grad thesis on “ally bank is my friend”!!! Ok, so what bank do you recommend people use where they can yield their entire life savings for executives vacations?? In other words, for the simple I will explain it like this…Ally bank execs are the royal family and we are their subjects!!! BTW, I was born a full blooded Borg..”Its about the collective, NOT the one”!!! That’s the kind of info people are looking for on this website. (wink)
BTW, the Head Janitors of America, who just happen to have a LARGE number of members employed at ally bank, recently had the range changed to qualify for idiotis!!! Jax Nurses “professor” just missed the cut…(smile)
I’m shocked an annoyed by all the comments related to the commercials. I was trying to read reviews about the bank to help me decide if I want to switch, and all I’m hearing about are the friggin commercials!
It’s unfathomable that anyone would be offended by these commercials, because they are what drew my interest. I thought it was clever, yet simple. They are trying to depict that it is wrong to trick people and even kids know the difference between what is fair and what is not. Large banks have a ton of fine print and extra fees, Ally is trying to say it is wrong and they are different. By offering a straight forward approach to banking with minimal or no fees. So far I like what I see and I will most likely be switching. My favorite part is no ATM fees, anywhere, and I also like the high interest rate I can earn.
As for the commercials, I am/have been an agent and CD (casting director) in Hollywood for many years and in that time I’ve auditioned thousands of children. Trust me, it’s a competitive biz and commercials are a great way to make a living or move on to films. Children take acting classes just like adults and they are very excited when they land a role. In addition to compensation, the children receive meals and beverages on set and they can only work a limited number of hours per day. They are by no means being treated poorly! The kids you see in commercials are lucky, because they competed against hundreds of other children and they were the ones chosen.
Now PLEASE stop talking about the dang commercials and only post something if it’s a review about the BANK. The name of this blog is Ally Bank review, not Ally commercial and advertising review. Thanks!
Hollywood CD March 7, 2010 at 12:49 am
I’m in shock therapy and enjoyed all the comments related to how much electricity my body can conduct! I was trying to read reviews about the electric chair (ol’ smokey), to help me decide if I want to pull the switch at my execution or one of the prison guards. But all I’m hearing about are the friggin anti death penalty commercials!
It’s unfathomable that anyone would be offended by these commercials, because they are what drew my interest. I thought my criminal activity was clever, yet simple. They are trying to depict that it is wrong to trick people and even us patients suffering from severe idiotis know the difference between what is fair and what is not. Large banks have a ton of fine print and extra fees, and if I’m ever released Ally says with my “credentials” I could start out as one of their “executives”!What I’m trying to say is it is wrong and they are no different than me. By offering a straight forward approach to stealing with minimal or no punishment. So far I like what I see and I will most likely be switching “jobs” when I am released. My favorite job is charging excessive ATM fees, anywhere, and I also like the high interest rate that we bait and switch.
As for the commercials, when I am having illusions of grandeur,I am/have been an agent and CD (casting director) in Hollywood for many years and in that time I’ve auditioned thousands of children. Trust me, it’s a competitive biz and commercials are a great way to make a living or move on to films. In one recurring illusion Children take acting classes just like adults and they are very excited when they land a role. In addition to compensation, the children receive meals and beverages on set and they can only work a limited number of hours per day. They are by no means being treated poorly! The kids you see in commercials are lucky, because they competed against hundreds of other children and they were the ones chosen.(wink)
Now PLEASE stop talking about the dang commercials and only post something if it’s a review about the BANK because otherwise I start hearing voices. For anyone whos interested, The name of my log is Ally Bank review, not Ally commercial and advertising review. Thanks and I will post again later after my shock treatments!!! (smile)
For 2009 ALLY Bank submitted (12) different 1099-INT forms instead of (1) causing unnecessary paperwork in filing tax return & maintaining hard file as well as addtitional tax due cost. Supervisors at customer support cannot explain why they are the only bank that “will not be” submitting just (1) 1099-INT statement for all CD’s held at their bank
Ouch on the 1099’s. I wonder what the deal is on that. Now THAT is a negative. Not the kid with the pony!
@David: You have a very vivid imagination and way too much free time, have you ever thought about becoming a writer? (or seeking psychiatric therapy)
I’m in the process of closing my account with Ally. I opened a savings account because they have higher interest rates. On January 14, Ally was supposed to send some items to me. It is now March 15 and I have not received them. When I contacted the online customer service, they wrote, “We’re behind in responding to our email.” A bank that cannot respond to customer requests is frightening. I immediately transferred all funds out of Ally to my old Savings Account. Now that anyone can open an account with USAA, I’d recommend going that route instead. I’ll be opening a new savings account with them ASAP.
Hollywood CD March 14, 2010 at 1:46 am
@David: I have a very vivid imagination and way too much free time. When my mama gave birth to me the Dr. took one look at me and slapped her AND my father!!! I have oft times had illusions of grandeur about being a writer, everybody has, right? (I also have a recurring one where I’m recieving psychiatric therapy without ever seeking it! Oh, sorry, that’s in real life! I OFTEN have problems telling the difference but my TEAM of Drs. assure me that with a quarter century of cutting edge therapy along with intense shock treatments, I should reach the IQ level of a moron!!! Smile…)..Well, it’s nap time here at shady oaks, aka, ally bank…START THE THORAZINE DRIP BOYS, BEAM ME UP SCOTTIE!!!
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