Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circ*mstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Editorial disclosure
All reviews are prepared by our staff. Opinions expressed are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including any rates, terms and fees associated with financial products, presented in the review is accurate as of the date of publication.
Marcos Cabello
Written by
Marc Wojno
Edited by
Updated April 30, 2024
The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict,this post may contain references to products from our partners. Here's an explanation for .
The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. All of our content is authored by highly qualified professionals and edited by subject matter experts, who ensure everything we publish is objective, accurate and trustworthy.
Our banking reporters and editors focus on the points consumers care about most — the best banks, latest rates, different types of accounts, money-saving tips and more — so you can feel confident as you’re managing your money.
Editorial integrity
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Editorial Independence
Bankrate’s editorial team writes on behalf of YOU — the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a stricteditorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
On This Page
On This Page
- Ally Bank checking account interest rates
- Ally checking account fees
- Ally checking account promotions and bonuses
- Alternatives to Ally’s checking account
Ally Bank is a popular online bank that offers one checking account. With Ally’s checking account, you’ll enjoy the ability to earn a small return on your funds without paying any monthly account fees. However, you will not be able to deposit physical cash into this account, which could be a dealbreaker if you are primarily paid in cash.
Ally Bankearned 4.7 out of 5 stars in Bankrate’s review across its deposit products, and its checking account earned a perfect score of 5 out of 5 stars.
Ally Bank checking account interest rates
Ally offers just one checking account, and the yield varies depending on your balance. If you have at least $15,000 in the account, you’ll earn a higherannual percentage yield(APY). The rate you earn is determined on a daily basis based on your balance at the end of the day.
| Account name | APY | Minimum deposit | Monthly fee |
| Ally Spending Account | 0.10-0.25% | None | $0 |
Note: The annual percentage yield (APY) shown is as of April 30, and may vary by region.
Unlike many checking accounts, the Ally Interest Checking Account lets you earn a modest return for the funds you keep in it. There is no minimum deposit to open the account.
Ally is an online-only bank, so you will not have any access to an in-person support team. But there are ways to receive immediate banking help from Ally with 24/7 access to customer support over the phone. It also offers chat support on its website.
With this checking account, you’ll also have access to useful digital tools to manage your funds easily. You can send or receive money from friends and family viaZelle. You can even move funds through voice commands on devices enabled with Amazon’s Alexa. You can also use any Allpoint ATM in the U.S. for free (there are more than 43,000 ATMs in the network). Plus, Ally will reimburse up to $10 of ATM fees that other ATM operators charge with each statement cycle.
Ally checking account fees
As you seek out the right checking account for your situation, make sure to take a closelook at the fees. Many checking accounts are riddled with hidden fees that can drain your account. Ally Bank, however, is very open about the fees associated with its Interest Checking Account.
The bank’s Interest Checking Account doesn’t charge any monthly maintenance fees or several other standard fees many other banks charge. At Ally, you won’t need to consider paying for expedited ACH transfers fees, statement fees, incoming wire fees, or cashier’s check fees, for example.
However, there are other fees that this account charges. A few include:
- Expedited delivery: $15
- Outgoing domestic wires: $20
- Account research fee: $25
Ally checking account promotions and bonuses
The Ally checking account doesn’t offer a specific promotion or cash bonus. However, the interest offered on your checking account funds could be considered a reward. Since many banks offer checking accounts without paying any interest, the APY offered by this account makes it a worthwhile option to consider.
Alternatives to Ally’s checking account
The interest-bearing feature of this checking account makes it a useful option for anyone seeking an extra boost to their spending cash. However, there are much higher APYs out there if you prefer to use a high-yield savings account to stash your extra funds, includingAlly’s savings account.
If you need to deposit cash on a regular basis, then this account is not a great option for you. You may need to consider larger banks that operate a large network of physical branches, such asBank of AmericaorWells Fargo, to cover your in-person banking needs. With access to more physical branches, you will likely sacrifice higher APYs, however.
Marcos CabelloArrow RightWriter, Banking/Deposits
Marcos Cabello is a banking writer at Bankrate, where he’s dedicated to helping readers make the best decisions about their finances. Previously, Marcos wrote about money for CNET and NextAdvisor, running the gamut of personal finance topics including U.S. economic policy and cryptocurrency.
Feedback submitted
Thank you for sharing your experience with Bankrate
Up next
Read moreBanking Reviews
