Ally Financial is a bank holding company organized in Delaware and headquartered in Detroit, Michigan. The company provides financial services including car finance, online banking via a direct bank, corporate lending, vehicle insurance, mortgage loans, and an electronic trading platform to trade financial assets.
Ally is one of the largest car finance companies in the U.S., providing car financing and leasing for 4.5 million customers and originating 1.4 million car loans annually. It is on the list of largest banks in the United States by assets and has 2.0 million depositors. Its electronic trading platform has approximately 350,000 funded accounts. Via its SmartAuction online marketplace for auto auctions, launched in 2000, the company has sold more than 5 million vehicles, including 270,000 vehicles sold in 2019.
The bank’s mobile app is impressive. Not only does it let customers find nearby ATMs and cash-back locations, but customers can also deposit checks, transfer money between Ally and non-Ally accounts, pay bills and search their transaction history.
Ally’s Online Savings Account pays the same competitive APY across all balance tiers. Ally Bank offers a single checking account. Its competitive Interest Checking account offers tiered interest rates; yields vary depending on the minimum daily balance in the account.
There are no monthly maintenance fees tied to the checking account. Ally Bank is a part of the Allpoint Network, which provides Ally Bank checking account customers access to more than 43,000 in-network ATMs. Ally also reimburses up to $10 at the end of each statement cycle for fees charged at out-of-network ATMs.
According to bankrate.com; en.wikipedia.org. Source of photo: internet
