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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My goodness. I wish all the self-righteous people would quit cluttering up the posts with whining about the children. Obviously the kids are actors and understand what is going on…and they are getting paid. Their parents permitted them to do the commercials, and their opinion is what matters…not yours. Please stick to telling the public about your experiences with Ally Bank, their products & service. That’s all we need to know.
Sorry, but as a 37 year veteran elementary school teacher, I think that the ads using the children are appalling. Sure, the children know what is going on and aren’t they the good little actors? It’s the PARENTS whose judgment is misguided and inappropriate, along with the ad people who dream up these campaigns. I’m sure there are more effective ways to sell a product. Leave the children out of it. They are abused enough.
The ads with the children are stupid and the one that upsets me the most is the one where the white girl gets the real live pony. The answer was “you didn’t ask for a real live pony” Neither did the white girl
This ad is cruel and racial. It should be taken off TV.
I agree totally. The ads with the children should be pulled. What kind of message is this sending to all the children, that do not realize this is acting. I would not use a bank that resorted to this type advertising.
Avoid at all costs. This bank irresponsibly hurt my credit. I will be closing my account.
Care to elaborate on the details?
I’m interest in opening a CD at your bank. I’d like to know if you have a brach in the Pasadena area and if the branch is open on Saturday’s? Thanks.
Hi Steven,
Ally is an online bank ONLY. They do not have branches at all and do not have a location that you can go to.
I love their ads….I bet there are thousands of kids auditioning for them…To try to put a racial spin on the ad in which one kid gets a real pony and the other didn’t is ridiculous. It didn’t occur to to me that the dark haired girl wasn’t “white”…she looks italian or greek or something else..who cares!!!…get a life and quit looking for racial injustices where there aren’t any. The real star of that ad is that child who didn’t get a pony and who gives the adult the best dirty look on tv!!!
Amen – that was the best part of the commercial, the girl who didnt get the pony (i agree, she looks more Italian – but who cares) and the look she gives the guy – priceless!
The other idiots posting about racism – get a life and quit whining. If you have children than it is your responsibility to clarify to your children. I have 13 yr old and a 9 yr old girls, both of whom thought it was funny and thought the girl who didnt get the pony was the best.
I suppose you whiners about this “non-racist” issue have your money with a bank that accepted TARP money and that the tax payers bailed out and have since begun charging their customers higher fees to cover for their mistakes….
Every time one of your advertisements comes on my tv, I can’t get to my
mute button fast enough. I hate to see that guy being mean to those kids!
How could you ever think these spots were what you wanted to convey
to the general public? Who handles your advertising account? These
spots are just awful! As a result, I don’t even know what you’re trying to
sell me because I just can’t stand watching or listening to them.
lol, wow! I can’t believe I came on this site to get reviews about a bank and I am reading posts about kids in commercials. PROTECT THE LITTLE children. HEY! Life is rough and you will get taken if you aren’t aware. That’s what the story is about. Non-disclosure! What the hell is your problem people. It was a great learning opportunity for my children. Life isn’t fair, get use to it! People are greedy and will take you for a ride if they can. That’s the point. Watch for it! Did you know that scams go on for a long period of time before being reported because people feel stupid for letting it happen. There is a reason that is the case. Talk about your experience with Ally Bank. That’s what I want to hear about. And, blogger remove all this crap!
I agree, Rena, and I also requested B. Smith to explain their position .
It’s just funny that people have nothing better to do than to run their gator (“gator” is Floridian for “yap”) about their own close-minded, opiniated spew.
I came to this site looking for info on their accounts, but , I see all this “uninformative”, or in some cases, “unexplained” crap about problems that people PROBABLY created themselves!)
Get a life, an education, something…
“I hate to see that guy being mean to those kids”.
Isnt that the point of the commercial? Corporate banking/creditors (banks) are taking advantage every day Americans by charging absurd fees for using their services. Who’s the real “meany” here……Don’t get upset about ones creativity for expressing a point. See commercials only for what they really are, and nothing more.
Per comment from B. Smith of 11/10/09 at 3:13 p.m., how did Ally Bank ruin her credit?
Are there people with good reviews of Ally Bank? I appreciate the message that is presented in the ads because most banks are pocketing profits rather than providing an avenue for gains for the people who are paying for banking disasters in the recent past. Is this too good to be true?
A quick lesson in basic economics for Judy DePonceau, who wrote “banks are pocketing profits rather than providing an avenue for gains for the people…” Are you serious? All banks, even Ally, are “pocketing profits” or at least trying to. That’s called capitalism and that’s what keeps them in business. The profit motive is what makes banks compete for your business and come up with new and innovative products and improved customer service for you to enjoy. If there are no profits, what is the incentive to open a bank? What’s the incentive to provide you with superior products and services? Is the incentive simply to be nice, hold your money and pay you interest? How can they pay interest without a stream of income, and survive long-term without a profitable bottom line? A little advice, if you do find a bank that is this altruistic, DO NOT deposit your money there. They will be closing their doors in no time. Profits keep businesses alive and people working. Sounds like you want to “pocket” some profits yourself…how ironic.
Great job on the Econ crash course, the professors here at UCLA should ask you to write some of our econ textbooks. Nice and to the point. As for the idea of a non-profit bank, Doctors without Borders is sponsoring a new program, Bankers without Jobs, providing the service of a bank that sends you ceramic swine to manage your own money.
Lol, a “non profit bank” is a Credit Union…
Judy,
I love Ally Bank. I had no problems since I opened the account 4 months ago. There are many positive reviews at bogleheads.org.
The Ally commercials are great, especially the look that the girl gave to the guy with the pony. By the way, racism never entered our minds. Some people need to get a life.
Good grief. Charlie Meitzner, please seek help. If that’s what rattles your cage then God help you, go back to your cave and gather your children with you. It’s a scary world out there.
Anyway, just for peoples info, had an issue with old GMAC regarding our home equity. Seems like they wanted out of that business asap (had to, I expect) and kicked their customers around to make it happen. If this customer service ethos is in place with ‘ally’ then I would be wary. GMAC are a bust and still in dire trouble with bad loans, but back at the ‘well’ for more money, they are tainted but FDIC insured, so should be ok. Just dont’ put more than 250K in there.
I have been watching your commercials run on Comcast.
I’m in advertising sales & I don’t know if you are using an ad agency or creating the very offensive ads. Using the children or not, but we find them most demeaning, degrading, & generally totally the opposite of the messages you are trying to bring to the public. I wouldn’t use your bank on a bet! You say the children are paid & their parents understand. They must be as stupid as you! Those are the most negative ads I’ve ever seen. We would never use children who are so impressionable at that age as a tool to sell your bank’s services. I’m glad to see that there are more sentiments to have you stop those ads than are for running them.
I came on this site to find out about the financial risk or gain to be had through Ally Bank, not to read people’s whiny and ridiculous opinions about commercials. Those comments are useless and completely off-topic.
Ally is great. I have been with ally (GMAC) for 1 year now. Since they changed to Ally, it has been only better. Your money is safe as it is FDIC Insured and I have never been more happy with a bank. The online transfers from bank to bank are very fast 1-3 days tops. AS A FIREFIGHTER I MAY TAKE MANY RISKS, BUT NOT WITH MY MONEY. I give Ally 2 thumbs up.
Good lord people, get over the commercials and talk about something useful, like have you been happy with your Ally bank account!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Thank you, Mike the Fireman, I was looking fo someone that would focus on Ally’s performance, rather than the commercials (which I think are funny-because they’re TRUE!)
Your welcome! I think the commercials are funny also, but even if I thought they weren’t; I would not make that the topic of this forum like many have
Any business that makes children look stupid in their commercials must have very sick management. I hope you bloody bank goes belly up.
I hate your commercials about disappionted children! I just noticed who is responsible as I was always turned off and tuned out. I would never do business with people of no heart. Schockingly distastful!
This article is not about advertising nor did anyone ask about anyone’s feeling towards the commercials. Some people who actually have lives would like to learn more about other’s experiences using one of Ally Bank’s offerings. Can those who are or have been a customer with Ally please chime in? Those who are just wasting your day away waiting for Oprah to come on TV and decided to blog about a commercial, please take it to Twitter or some other forum where your “advertising” opinion is solicited.
Thanks!
My thoughts exactly! There are some intelligent posts, here and there, but you must sort through the “crap ones” to find them.
(All these people, bitching about the commercials-obviously, they don’t have any money they plan to invest in any bank, anywhere, so, they just fill their time, visitng websites bashing commercials they don’t agree with.)
I would like to know how ALLY BANK works..If i set up an online banking with your bank..How can i process my money out or if i needed to wire money into another person’s account..May be within states or offshore accounts..How will that be possible cause am located in WI, I want to know more about it..Please i need more information.
Ally bank works just like all the other online banks, in that when you set up the Ally account they ask your for the account information of another account you have with another bank (usually a checking account). Once setup you can transfer money between the two accounts by logging in and asking for a ACH (bank to bank) transfer.
Usually banks do not charge for ACH transfers (but check with your bank), but they usually do take between 3 – 5 business days, so if you need your money in a hurry don’t put it in the online bank.
So basically the online banks rely on the fact that you can deposit money directly to that other checking account some how, and only have to use bank to bank transfers and not have to pay for places for you to deposit or withdrawn money.
…….my mother & i are now and have discussed the ads in ?/……we go for the child’s expression/ reaction to the adult TRIck!…….as if saying ” i’ll remember you”/….too bad the adult ( salesperson ) tricked the child- tho the child gave the look of knowing that a trick had been perpetrated/…..children know/ adults beware- grow up/…..overall the ads are clever simply to the fact of the child’s knowing look!
You have the most tasteless TV ad I have ever seen and that goes back to 1949. It should it be taken off the air and because you approved it to run, there is no way I would ever do business with you. Your alienation tactic is pretty complete.
Please take down this pony ad. It is tasteless and exploitive of children. In escence it is child abuse. What are children seeing this ad to think? Fire the ad agency. Any Bank that could stoop so low as to use young children in this deceptive display of psychological abuse, should shut its door. I would never do business with such a Bank. Mr. Michael DiComo, please read the comment. I imagine the children are getting paid, but their parents ought to be a shame to prostitute their young children psyche in such a way for money. What about the other children who see this ad? Take it down. Make better use of the talents of these beautiful children. Thank you
Unbelievable! You obviously underestimate the intellgence of children. (perhaps you are basing this on the intelligence, acuity, and common sense of YOUR children)
I have been a member of Ally Bank for about two weeks, I did NOT know that this bank USED to be GMAC…I have had bad dealings with them. I won’t elaborate on that, it is now water under the bridge, and settled to my satisfaction. But knowing that this WAS GMAC I will have to pay closer attention to all transactions and really read and look for any fine print. Thanks.
I am offended every time I have to view your ad where a man
is sitting at a table with 2 little girls and he hands the first girl
a toy horse but the 2nd little girl gets a real horse.
Firstly, when the first little girl says something about “you didn’t ask if
I wanted a real horse”, his reply is well you didn’t ask for a real horse.
WELL……the second little girl didn’t ask for a real horse either but she got one.
This ad is so stupid–CERTAINLY does not inspire confidence, integrity or
honesty. I would think that would be what a bank would want to convey–not that some man intentionally betrays a little girls confidence in him
while playing with words.
I simply turn the channel whenever it comes on.
You must have an extremely lame advertising agency representing you if they can’t come up with something better than this.
The only thing I hate are these whiny, immature idiots crying about the commercials.
Ally bank sounds like a good deal.
The FDIC is bankrupt as of August 14, 2009, do your research. Therefore, there is NO guarantee that any deposit account and alleged “insurance” are safeguarding anything you allegedly “own” in your account.
You all can discuss Advertisements all you want, however, you are MISSING the REAL “show” here, which is the fact that your deposits at ANY banking institution are not being insured by anything. The FDIC is bankrupt! Now, as a suggestion, next time you go to open a bank account (of any type) ask your banker “Can I see your insurance company’s (FDIC) balance sheet?”, and watch a banker urinate in his/her pants in front of you. So, when you lose your money, the banker can say “well, you didn’t ask to see our insurance company’s (FDIC) balance sheet, now did you”. Which is more important, these ridiculous commercials, or the fact that the REAL joke is on you, as a client….????
Please stop spreading rumors because your facts are just not correct. The FDIC is NOT bankrupt and even if they run out of their own reserves, they have a window to borrow from the treasury. The last thing the government wants is a main street type panic because EVERY BANK will be in trouble. Therefore, the FDIC will ALWAYS be saved.
Ummm, the federal government is operating in the red as well. But, let’s talk about our most expensive cost, healthcare! How about we give it to everyone free. The FDIC is officially 8 billion dollars in the hole, and the government is ….let’s not even talk about that. Wait, let’s borrow money from China. The country still running under communism. This is really ironic. The capitalists are using the communists to stay afloat. See a problem here? NO?! Well, just wait, you will.
Rena people go bankrupt, governments (especially the main reserve government) prints more money. Can it go on forever? Nope, but what will stop it? 1) Revolution, in this case all bets are off the money is no good and you will be worried about living not some 8 billion on some governments books. 2) The rest of the world calls in the debt, well they aren’t going to call it in because it would trash them too, so what they will really do is ask for more interest, and they will, and the dollar will go down in value, which it will, so the effect? Your money will still be safe in the bank it will just be worth a lot less. 3) They raise taxes. 4) They cut spending. 5) All of 2-5. As far as I can see there is nothing here that should make putting money in Ally is any more risky then putting in any other bank paying less interest. Personally I use Dollar Saving Direct, just because they were giving better rates before Ally, and so got my money first.
Point 1)Revolution is coming, and you are right, no bank money will be safe, that’s why mine is no longer in a bank at all. It’s not in paper money anymore. 2) If we continue to have this attitude, let’s hope you all don’t have a heart attack when they do. 3) They can’t raise taxes when no one has a job. 4) YEAH RIGHT! I agree reading this blog made me pull all my cash out of the bank, and buy something solid. The rev is coming, make no mistake. The people that own the debt are not likely to increase the interest. They will just come “repo” stuff. Yeah, think about it.
Maybe we will sell the Government motors to cover some of the loses, it’s an asset….or is that a liability?
Like everyone else I came here initially to attain some insight into Ally Bank and its services since little mention is ever made to those items specifically in the Bank’s advertising. It’s difficult to ignore (from the obvious deviation of thread in this blog) that the advertising is seriously lacking. Might I add, since I have been inadvertently drawn into this lateral, but very interesting topic, that I too find the media somewhat disturbing and undoubtedly misplaced. If these were commercials about kid’s products they could be somewhat clever and effective. But, like some others below, I watched these commercials for over a month now, almost daily (CNN) and only just recently learned who the sponsor was. That violates rule #1 in advertising. Additionally, this is a bank- yet as another blogger pointed out, his children “got it” right away while (I would guess from the comments here) , 80% of the respondents also “got it” but were negatively impacted by it (violating advertising rules 2 thru 99).
That seems to me to indicate that running the ad was a poor decision on the part of Ally, and while that might be forgivable for a beer company or computer manufacturers, it is most irresponsible for a bank in these days and times. I currently have no bank and I am looking to Canada or elsewhere to do my banking. I would certainly like to find a trustworthy U.S. bank to do business with but I don’t think it will be Ally. (BTW, my wife pointed out to me that there would probably be a number of “racist under every rock” types that would jump on the little brunette’s victimization as an act of racism. I did’t see that (it’s a real stretch) and thought she was wrong. I guess I forgot how many stupid people there are.
Good point about the advertising. You’re right! It doesn’t matter if I think the commercials are ok, if they aren’t affective for most of the population, and viewed negatively, then they aren’t really doing their job. Of course, if you stir enough of a controversy and this comes up, people start paying closer attention and you get the other side of that proverbial coin. Nothing tops advertising except bad publicity. Which brings up yet another moral topic of discussion. But yes, it did take me about three times of seeing the commericial before realizing the owner. Thanks for the read. Wanted to say eloquent and persuasive writing.
Sure would like to hear more about customer service experience, before I put my money in this bank. I don’t care about the advertising, obviously if you are talking about it, it got your attention. Good marketing.
The ads featuring children are insensitive and disgusting. They should be pulled immediately!
Few people have a sense of humor here on this site. Grow up and smile.
The ads using children are cruel and bordering on sadistic. I am sure there are some disturbed people out there who think they are inventive. If the intent was to get people to remember the name of the bank, it did not work with our family. Instead, it was a distraction and a complete turnoff.
Hi my name is Cody and I’m thinking about starting an account with Ally Bank but I’m confused on how I’m supposed to get my money in the account. Can someone please help me?
Hi Cody, Ally Bank is online banking like ING Direct. You must first have a physical bank checking or savings account. I think it has to be checking. You will have to link your physical branch with your online branch (Ally). If you decide to get an account with Ally, it gives you a step by step process on how to link the accounts together. In order to deposit money into your Ally savings account you will need to transfer money from you other physical bank account. Hope this helps.
You are running a series of commercials in which an adult male tricks children with bait and switch techniques and unreasonable limitations.
I find these commercials very upsetting and will change stations rather than watch them.
All of your TV ads are in very poor taste. However, there are a lot of other commercials I find equally disgusting. I wish everyone would clean up their act and bring back decent programming and commercials.
I have to applaud those who took the time to share their experiences and expertise on the matter on banking with Ally. For all those who thossed out negative remarks I would point out that you have lent little to no facts to support what you said. Your comments weighted very little due mostly in the lack of making any real points. As for the comments centered around the commercials– really? I found them pretty humorous. Maybe banking with Ally wouldn’t be idea for you anyways because it seem like you have trouble getting it anyways. Your lack of a sense of humor offends me but I prefer not to make a big deal out of it
GMAC is the worst bank there ever was (is). By changing their name to Ally they are just trying to get all the bad publicity swept under the rug from the thousands of home owners who they have screwed. Poorly managed then – poorly managed now. You hope you never have a loan problem with them. Stay FAR away from this bank! Nice try GMAC!
I’m a little uneasy that we’re grading this bank on good or bad their commercials appear. Most banks have their financial statements available online (if you’re unsure of how strong your bank might be). If you want a nice rate for a year or so – sure – go ahead and put your money here. In the end, you’ll end up back in a traditional branch with your accounts/CDs etc.
Granted it may be worth it for some people – but for me, it appears all they did was re-brand themselves with a new name and logo and venture back out into the world.
Good luck – I’ll stick with my bank where I can call into the branch and see that very person within 10 minutes if I’d like
Everyone has had a problem with a bank a time or two. I think Ally Bank has been great. You keeping your money at a local bank is fine. I choose to earn more interest, even if I have to move my monies like a day trader. I keep most of my money in Ally Bank due to their rates being very competitive.
I keep most of my money in dividend paying utilities stocks getting 4 to 7 percent in dividends. Better than 1.50 %.
Cody, I believe you can open an Ally account with a bank to bank transfer, a wire transfer, or by sending them a check. I’m considering a couple CDs and maybe a savings account with them even if I don’t get a pony. Just be advised there is normally a fee for wire transfers.
The Ally ads are child exploitation, pure and simple. I agree with the boy who declares this cardboard truck is junk, i.e., this bank is crap, avoid it at all costs.
I’ve been an Ally customer for three months so far… let me tell you, their savings account rates keep going down, down, down. While I originally signed up for an account at 1.85% APR, only 3 months later, it’s down to 1.50% APR. Also, the interest rate changes with astounding frequency. Don’t expect to get the advertised APR for even one full month!
That said, at the moment, their rates are still competitive. Not the highest, but competitive. Hopefully the downward slide has ceased. If not, I’m definitely taking my funds elsewhere. As it is, I’m already turned off by this bank’s “day-by-day APR”. Some ally.
Also, I’m not sure what’s up with all these negative comments about the ads. I half suspect it’s a “rigged” controversy to obscure any actual conversation about the bank’s services. I mean, the men were obviously meant to represent traditional banks & the children their customers, while Ally promises to be different from this old establishment. It doesn’t really seem there’s anything to take offense to here.
Of course, this “Ally” does have its own tricks. One, as I mentioned above, being an APR that changes day-to-day. Why call it an Annual Percentage Rate when it doesn’t even stay the same for a week, let alone any significant part of a year?
Try to get you money out. I bet you will have a hard time.
I have been with them for over a year, since they were GMAC and I withdrawl and move my monies almost weekly with no problems. The interest rates have dropped, but they are better then most local banks. If you add funds FROM a credit union or transfer funds TO a credit union, it is a much faster transaction than with a commercial bank. With a credit union, it takes 1-2 days, with a commercial bank, expect it to take as long as 5-8 days.
I setup a CD with them. Now I can not get my money out. My CD was suppose to expire and even though I requested it not be auto renewed a month before it expired using phone, their secure email that is only available on their site and their chat sessions. Also the interest I earned doesn’t not match the APY we agreed uppon at the beginning of the CD. The only statements you get is what they have on their website, which don’t balance. I am currently waiting on a response from the FDIC about this bank because I don’t know what else to do to get my money back. For the little bit of APY they where offering 4.1, I would have been better off and spent less time making money by mowing lawns.
Not sure why you are having problems. I have never had a hard time getting my money. YOU CAN GET PAPER STATEMENTS MAILED TO YOU, just like you local banks. You have the option under your account to get them online or by mail, there is no cost for the mailed copies.
Ally Bank is one of the best banks I have used. Their account opening process was simple, they have a good interest rate and I have found their customer service to be exceptional.
In fact I just got a letter from them letting me know that their already low fees (they have very few to begin with since they have no monthly fees and minimums) are being further lowered. They did not make a big deal out of it. Just matter of fact, like it was just the right thing to do!
The other banks need to follow Ally’s example.
For several weeks, I have corresponded with a person from Ally Bank, expressing my disdain for making the children in the ads look stupid. My granddaughter, age 7, pointed this out to me. I received nothing from her except the corporate line. Essentially saying that “I didn’t understand.” I resent the ads and the response from Ally Bank. I have an extensive email list and I sent them a note, asking that they look at the ads and be very careful if they consider this on-line bank. If they are so stupid as to air these ads, I don’t want them anywhere close to my money.
I have worked for a community bank for over 25 years. Why don’t you try dealing locally, get to know your local banker, who might be able to help you when you need it? These internet banks don’t give a hoot about you, don’t participate in your community functions, don’t pay taxes locally, don’t have children in your scholls, don’t give to hundreds of local charities, and on and on. Your local community banks have competitive rates, and don’t have to use deceptive advertising to gain customers. We are in the lowest interest rate cycle in recent history. Deposit rates will come back up, but so will loan rates. And yes, we do have to make money, primarily from loans and fees in order to pay you interest, our employees that manage our branches, our shareholders who need a return on their investment, and FDIC assessments, which have gone up over 1000% in the past several years to pay for the sins of the mega-banks who they say are too big to fail, so the fed has to bail them out at our expense. Anyway, try your local community bank. Get to know one of the branch managers. They are real people, not some internet site.
I just can’t believe these people that complain about Ally Bank commercials. The kids are paid, the parents are right there and it is a commercial, not a reality segment! You people must have been really upset for leaving a young boy alone at home when the movie “Home Alone” came out. Please get a grip and realize that a commercial does not translate into reality for the kids.
On the other hand, the ads are outstanding because they show that banks are screwing us as customers and finally there is a bank looking out for customers.
Thank You Ally Bank!
I just read the response from Ally Bank, and they still don’t get it. I know they were paid (or their parents), and I know the parents were there. It is not either one of these, it is the children being duped at the hands of an adult. Ally Bank is a sham, if this is how they want to be known. I don’t need any more party lines from corporate. As one other writer mentioned, I want my bank down the street, not in the either, where they put out stuff like this.
Good Lord people!!!!!!!!!!!!!!!!
Get over the commercials already!!! I can’t imagine what you think with all the other tv ads and shows. Time for you to save some money and cancel your cable so you don’t see things that upset you and cancel your internet so the things you say don’t upset the general population
Your cries are only heard by you. Make a change in life instead of complaining. Most people have more important things in life to worry about. I have been up for 31 hours on a structure fire with fatalities, you don’t hear me whining. I choose to make these calls and don’t complain to everyone I don’t know, YOU HAVE A CHOICE TO NOT WATCH TV if you don’t like it.
General Motors Acceptance Corporation was GM Wholly owned company until 2006 when Cerberus Capital Management acquired 51%.
Currently, Cerberus Capital Management, et al, still own appx. 40%, Appx 35% belongs to the US Treasury and 10% is still GM owned. The remaining 15% is in a blind trust of some sort.
Your article is wrong about having separate accounts at the same bank. That doesn’t protect you at all and doesn’t accomplish anything. The FDIC limit is for all accounts combined at the same bank. So if you have one account for $200k and another account for $150k at the same bank, you’re only covered for $250k.
As of December 30, the US Government now has a controlling interest of Ally Bank as the result of an additional capital infusion into GMAC. An article with the details can be found at:
http://news.yahoo.com/s/nm/20091230/bs_nm/us_gmac_aid
How ironic that this idiot bank would deny my application because I recently filed for Bankruptcy. THEY are affiliated with GMAC who themselves has filed for Bankruptcy!! Don’t bank with this company as they are only out to take your money just like GMAC did with the tax payer’s money which they have not yet paid back after their bailout from the government. I am glad they denied me anyways as I don’t want to feed their greed. Does that make sense anyways to deny you from giving money? It’s not like I’m asking for a loan. They suck and their ads are plainly mean to children. Take your money to a credit union instead!
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