Checking account basics
For many people, a checking account is the place where money first enters the budget. It's the hub from which money is directed to bills, expenses and savings. As an important part of your everyday money management, an interest-bearing checking account should be simple and convenient. Keep in mind the following factors as you compare accounts.
Fees and balance requirements
Be sure you understand all the terms and fees associated with any account you consider. Not all interest-bearing checking accounts are the same. For example, one account may require that you maintain a certain minimum balance in order to avoid a monthly fee. Another may limit the number and kind of transactions you can make, and others may charge you ATM or maintenance fees.
Interest rates and security
Online banks usually offer higher interest rates than their brick-and mortar counterparts because they don't have the expenses associated with maintaining physical branches. They can pass that savings on to you in the form of great rates. Once you've checked into interest rates, be sure the bank you consider is a member-FDIC bank so that your deposits are insured up to the maximum amount allowed by law.
The Ally Bank Interest Checking Account is designed to be a simple, convenient and rewarding part of money management toolbox. Check out the following features:
- A great interest rate that, based on the rates published by Bankrate.com is consistently among the most competitive available in the country.
- No monthly maintenance fee, period.
- Free Debit MasterCard® and free standard checks.
- Use any Allpoint® ATM in the U.S. for free, plus get reimbursed up to $10 per statement cycle for fees charged at other ATMs nationwide.
- Free online banking and Bill Pay. And whether you're between Ally Bank accounts or to or from your non-Ally Bank accounts it's as easy as a couple of clicks.
You can open and fund an Ally Bank Interest Checking Account with any amount. We compound interest daily to help your balance grow faster and your deposits are FDIC-insured up to the maximum amount allowed by law. Learn more at Ally.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.