Ally Bank has a representative there 24 hours a day 7 days a week, which I can’t say that for alot of banks. The rates go up and down based off of the current stock market, if stock markets are down what makes you thing that you gon be a millionaire over night that is retarded. Or better yet why don’t you invest into some type of stocks to get fast cash on top of what you are investing. Now you won’t have to tie your money up for some time. I can appreciate Ally Bank straight forward thinking. And yes if it protects your bank image and gets the heat off of your bank then why not change the name, alot of companies do this including other banks. Why do you think that alot of these banks got either bought out and or merging with shutting the whole organization dowm.

Some of you all are tripping over dum stuff. I have seen alot of people who are not self sufficent to work any computers but you have room to critcize the works of other peoplw within one organization when you are the ones who need help maintaining you thousands and thousands of dollars. $250,000 is covered under FDIC until 12/31/2013m please check ouy http://www.myfdic.gov to search any bank to make sure that they are FDIC Insured and it is even give you that bank FDIC#. With Ally Bank agents are there to attempt to insist you with questions not work a miracle for you.

And by the way there bank operations departments handles transferring money to your other bank account and or funding the accounts for you, so the next time you all call up there and start fussing at the agents you need to fuss at your self ater all you choose that bank. They did not choose you and if you all want to go to another bank then be knowlegdeable and go do your research. I like Ally Bank because they have no mimium opening deposit and no mimium balance unlike ING and Bank of America.

My question is:
If representatives can NOT provide standard guidance/answer, what’s the meaning of customer service of the bank?

Although they have 7-24 call service, it won’t help if they can NOT solve your problem. (In fact, it wastes your time!)

I am searching for another bank with relative high rates. Enough is enough.

Flexo – did they pay you for your review? If you do the most cursory review of their web site, you discover drop down boxes that overprint, choices that aren’t clear, etc. An organization this big which doesn’t care about its web presentation and whose CSR’s can’t write even basic English properly scares the hell out of me – I’m NOT transferring my money to them.
Here’s the reply:

Dear Mr. H……,
THANK YOU FOR BANK with Ally Bank. I would like to apologize for the frustration you have experienced with Ally Bank. I hope we are able to assist you now more effectively. After reviewing your account information I see that an external account for First Midwest Bank HAS BEGAN THE registration process…………….

You mentioned the credit check for opening an account — do you have any thoughts on what they base the decision on? Is it the credit score. I am increasingly worried about the practice of using a score that favors debt as opposed to an assessment of actual ability to pay in general.

It is my understanding that it is based on credit history. Without one, Ally Bank will likely not take your money. They may also base their acceptance on credit score. This is a different policy than most banks who base their decisions on Chex Systems ratings. There’s no reason Ally Bank wouldn’t use Chex Systems as well. It may be worth reading ToughMoneyLove’s experience with GMAC/Ally Bank and their credit history policy.

I am aware of banks using Chex Systems to determine whether or not the consumer has issues such as frequent overdrafting that would clearly indicate how good of a bank customer someone would be. Even that has issues if it leads to someone not being able to get a bank account anywhere (I am not as worried about those who completely abuse banks, more about those who are in fringe situations that often occur with these types of reports and scores).