Comments on: Ally Bank Review – Best in Class Savings and Checking

By: Lynn

Lynn — Tue, 15 May 2012 20:32:55 +0000

I’ve been a customer of Ally Bank for 2 years now. I have never once had an issue. I’m very surprised to hear some of these negative comments. I’ve had to call customer service a few times with questions regarding a possible auto loan and the costumer service reps were very nice and helpful. Unfortunately there is no such thing as a perfect bank or business. I’ve had a wonderful experience with Ally, so had to post.

By: Blue Spyder

Blue Spyder — Fri, 23 Dec 2011 02:02:33 +0000

Opened my account on Thanksgiving, so far no complaints. Customer service seems friendlier than Navy Federal was to me.

By: Anna

Anna — Sun, 13 Mar 2011 06:34:26 +0000

Stay away from Ally Bank, I tried to open up an online checking account and filled out all of the information and then waited for over 15 minutes to see if the account was opened. Then I received a message that states that you can not open accounts online anymore, that you have to call. Why do they still have the application online if you can’t open the account online, does not make any sense. An online bank where you can’t open an online account. Never again will I go to this site or use this bank. Now I probably have a credit inquiry on my credit report because of this, if there is one I will be filing a complaint against this bank .

By: Ryan

Ryan — Tue, 08 Mar 2011 04:30:40 +0000

Herman, so long as you make your payments on time, I’m not sure they are allowed to call the mortgage. If you have concerns about the legalities of banks calling mortgages, then I recommend sitting down with a third party who is familiar with the laws and has no vested interest in your deal (for example, a lawyer, not a broker trying to sell you a mortgage).

By: Herman

Herman — Tue, 08 Mar 2011 03:56:23 +0000

considering a refi with ally, under what circumstances would they call the mortgage? If I have electronically deducted payments will I have any problems with lost records? Has anyone experienced any balloon payments? Is 5.375 a good 30yr rate? As long as I make on time payments am I safe…..Thanks HR in Texas.

By: Joe Ally

Joe Ally — Sun, 26 Dec 2010 22:21:04 +0000

My question would be “Do I feel Ally is a moral and ethical bank who are good for the USA?” My answer would be “Absolutely not!”

The US Government gave 14 Trillion dollars to GMAC Mortgage in bailout money when the Fed declared them a bank to qualify them, even though they were not a bank. GMAC Mortgage never repaid those bailout loans and are now 56% owned by the US Treasury.

After the Government bailed them out, GMAC Mortgage foreclosed on more homes than any other mortgage company, resulting in plenty of wrongful foreclosure lawsuits against them. No one bailed out the US Citizens, and Ally Financial proved to be an “Ally” to no one when they robbed the nation from the top and bottom.

During the Mortgage Crisis which they were partially responsible for, GMAC Mortgage were unable to properly answer their phones and rushed to hire a completely untrained staff who remain poorly trained to this day. Customers waited months for customer service. Most either got none, or got service so poor that it may have been illegal.

Suddenly they have decided to rename themselves and to take advantage of their “bank” status with online bank accounts.

Your money will be FDIC insured, but will your conscience allow you to lend your money to the people who are more responsible for the collapse of our economy than anyone else?

By: Kathy

Kathy — Thu, 05 Aug 2010 10:37:54 +0000

I had my mortgage with GMAC for many, many years – no missed or late payments, great credit rating. I asked them to refi my mortgage at a lower rate since the rates were lower. I thought because I had a good track record, they would be willing to comply and this would possibly be the cheaper way to go, that it would be simple and I would be given a break on closing costs. No such luck. All they could offer me was the same rate I already had but extended back for the full 30 years, the same paperwork as though I were a complete stranger, with a heap of closing costs. So I chose another lender, an online lender, and lowered my mortgage by 1.38 points, a $564 per month reduction in my house payment. I thought as rates went lower that they might try to contact me, knowing I intended to refi and would probably go to another lender, but no, they didn’t. So they could have continued with this great customer, but they chose to lose the business. Maybe this is how you deal with people nowadays, but I don’t see how a bank can ever be successful when they let opportunity slip through their fingers.

By: B.Magallon

B.Magallon — Fri, 21 May 2010 16:18:32 +0000

This May, I recently have been hit with one of Ally’s computer gliches. I had opened an initial account about one month ago and because it was going well, I decided to open another account with them.
Then the huge problem arose!
Ally bank has a feature that if you verify an account with the same test deposit numbers than it automatically initiates a transfer from an external bank into your other account.
For example,
1. Account # 1- You open your account with $1000.00 and you have verified your test deposits.
2. Account # 2- You decide to open another account and use the same test deposits but this time only want to open your new account with $100.00,
Then
3. A transfer of 1000.00 will initiate to account # 1.
Leaving you with no solution and alot of overdraft fees from the external bank account.

Ally bank made it clear that they don’t have a gliche in their system, and I informed them that if I wanted to transfer $1000.00 from my external account into my Ally bank account then I would have specifically did just that. But this was not the case. Instead you use the same test deposits of $0.45 and $0.22 and this is what happens.

Has anyone else incurred this type of problem because I do not believe that I am the only one.
For professional purposes, Ally bank should have at least tried to care about this gliche or the customer but that was surely not the case. They were dumbfounded!
What else can I say, I’ve been duped by this bank, hmmm no surprise there I guess.