Save when you can. Spend when you need.
Get the flexibility of a check card and still earn a higher rate than traditional savings.
- Open with $0
- No minimum balance
- No monthly fees
- Check card and first 50 checks are free
- No ATM fees at any ATM
- Daily compounded interest for maximum earnings
- FDIC insured Maximize your coverage
- Six transactions per statement cycle with no fees. Why only 6?
- Your actual variable rate will go into effect when you make your opening deposit
The Ally Difference
We don't have monthly fees. Ever. Some banks charge a monthly fee if your deposit doesn't come directly from your employer.
We don't require minimum balances. Many others charge a fee if your balance dips too low.
We work to keep our rates high. Other banks often tempt new customers with promotional rates.
We grow your money faster by compounding interest daily. Many others compound monthly, quarterly, or even annually.
Frequently asked questions
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What is the difference between an Online Savings Account and Money Market Account?
The differences are their rates and the ways you can withdraw money from them. Both let you make unlimited deposits electronically, by wire, and by mailed check. Both also allow six electronic and telephone withdrawals and transfers per statement cycle — as limited by federal law — although a Money Market Account does provide more options for how you can make those transactions.
To summarize:
Our Online Savings Account usually has a higher APY and lets you withdraw via bank-to-bank online transfers only.
Our Money Market Account usually has a lower APY but lets you withdraw money by debit card, check, and bank-to-bank online transfers.
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When will I receive my new debit card or checks?
Your free debit card will arrive in the mail within 10 business days of opening your account. If you ordered free Ally standard checks, they'll arrive in the mail within five business days after we've received your opening deposit. -
How do I make withdrawals from my Money Market Account?
You can withdraw money by online electronic funds transfer, telephone transfer, check, check card point-of-sale transactions, and ATM machine. Please remember that federal law limits the number of electronic and telephone withdrawals and transfers from all U.S. money market accounts to six per statement cycle — three of these transactions can be made by check or with your debit card at point of sale. Unfortunately, you will be charged a $10 fee for each transaction that exceeds this limit. Fortunately, ATM withdrawals are unlimited. -
What's the difference between an Interest Checking Account and a Money Market Account?
Each account gives you easy access to your money and a competitive interest rate on your balance. But federal regulations limit the number of transfers or withdrawals you can make with a Money Market Account to just six per monthly statement period. With our Interest Checking Account, there's no limit on the number of transactions you can make.
You'll also get the convenience of our online bill pay service for free. And as your checking balance grows, you could earn a higher interest rate.
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How many withdrawals can I make from my Money Market Account each month?
Federal law limits the number of withdrawals and transfers you may make from your Money Market Account during each statement cycle. You can make up to six withdrawal transactions — including electronic fund transfers and telephone transfers, checks, and debit card purchases — per statement cycle. Each transfer or payment from your Money Market Account is counted as one of the six limited transfers. You will be charged a $10 fee for each transaction that exceeds this limit. Fortunately, ATM withdrawals are unlimited.