Never any issues.. Chase, on the otherhand..
ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL
Most Helpful Positive Review
Most Helpful Negative Review
My experience with Ally Bank started off positively, I enjoyed the various features and benefits and some of the highest interest rates for personal savings in the market. However, this experience quickly degraded after about a year of being an account holder with Ally. Interest rates were lowered unless certain balances were met – part of the reason I joined Ally was because they marketed high interest rates regardless of balance, it was a key selling point. Another feature that was downsized was ATM fee reimbursement, at first unlimited at any ATM, was then downgraded to only a maximum of $10 per statement cycle, another key selling point when I first joined Ally that was subsequently taken away.
However, besides having key features that compelled me to join the bank being removed – what truly invoked my ire was their change in certain policies that ultimately made being an account holder intolerable. In this case, it is what occurs once you overdraft your account.
Due to an error from Ally’s Bill Pay, where a payment recipient was paid twice – resulting in an overdraft of my account - Ally not only charged me a $25 overdraft fee (previously only $9 when first joined, again – another key selling point that was quickly removed after I joined) because of their mistake, but also refused to waive the fee after the duplicate payment was corrected. On top of that, due to a “change in policy” since my account overdrafted, they put a 7 business day hold on any new deposits made to the account. So not only did they take $25 for an overdraft they caused, but they didn’t return my money to my account from the duplicate bill payment they made for 7 business days. Other than direct deposits, any other deposits I would ever try to make was then also subjected to this 7 day hold.
To add insult to injury, Ally has made the process of closing my account as difficult as they could possibly do. I attempted to transfer my funds to a new account at a new bank – where Ally promptly debited the funds out of my account the very same day. Ally, however, was not done with me yet. Due to another “error” my account was charged an overdraft fee of $25 when I was left with a balance of $0, now leaving me with a negative balance of $25. I was then told that this gave them grounds to cancel my transfer – which would take 2-3 business days to process, and then be once again subject to the 7 business day hold because of the recent overdraft. Ally has now stolen $50 from me from mistakes they’ve made, and has held my money hostage on multiple occasions. As a final kick in the pants on my way out of this simply atrocious institution, they had “temporarily” disabled any transfers to and from my account. Thankfully, I was able to at least stop my direct deposits being made their and to a new bank – but I had to wait over a month for Ally to finally give me my money back that they held “on hold” because of the mistakes they had made.
I say again, avoid this institution, avoid it like the plague, do not let them handle your money – because they will make clerical errors and hold you and your money responsible.