Ally Bank review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Ally Bank suits US savers who want easy-access cash and self-directed investing in one place. Savings pay 3.1% at a variable rate, the brokerage side covers stocks, etfs and options, and the trading platform is ranked 1 of 166 brands on what a trade costs.
Key facts
- Best for
- Savings and commission-free stock trading under one US roof.
- Minimum deposit
- $0↗
- Stock trade fee
- $0↗
- Account fee
- $0↗
- Inactivity fee
- $0↗
- Markets
- Stocks, ETFs, Options, Funds, Bonds↗
- Regulators
- SEC, FINRA, FDIC↗
- Investor protection
- SIPC up to USD 500,000↗
- Options contract fee
- $0.50↗
- Account types
- Joint, IRA, Roth-IRA↗
- Legal entity
- Ally Bank↗
- Headquarters
- United States↗
- Founded
- 1919↗
- Support channels
- Email, Chat, Phone, Help-centre↗
- Pricing model
- Commission-free
- Official website
- ally.com
Savings
Robo-advisors
Facts checked September 26, 2026, 10 sources
Pros and cons
Pros
- Savings pay 3.1% at a variable rate, a little above the site median of 3%.
- Trading covers stocks, etfs and options with a commission free model and a minimum deposit of $0.
- Cash is FDIC insured (certificate 57803), and investments are covered by SIPC up to USD 500,000.
- Support runs on email, chat and phone, so a question can go to a person or into writing.
Cons
- Savings access stops at 10 limited withdrawals and transfers per statement cycle, so a large emergency fund is awkward to hold here.
- Options are the exception to commission free trading, with a charge of $0.50.
- Robo portfolios charge a management fee of 0% to 0.3% and start at $100.
Who it suits
- US households, since the bank is headquartered in the United States and its savings pay 3.1%.
- First-time investors, who can start trading at $0 on a commission free model.
- Retirement savers, who can hold joint, IRA and Roth IRA accounts.
Who should look elsewhere
- CFI, for readers who want forex, contracts for difference or crypto: its markets are stocks, etfs and forex, against stocks, etfs and options here.
- bunq, for euro savers who prefer an account in euros, since its minimum deposit is set at €10.
- Fiesta Credito MX, for readers in Mexico who want a lender regulated by CONDUSEF rather than SEC, FINRA and FDIC.
Rates and terms
The online savings account pays 3.1% at a variable rate. A variable rate is not locked in, so what the balance earns can move up or down as market rates change rather than holding steady for a set period. That makes the headline figure a starting point rather than a promise, and it suits readers who want access to cash rather than a commitment period.
Who runs it
The legal entity behind the brand is Ally Bank, headquartered in the United States and trading since 1919. The brokerage side is registered with FINRA under 136131, and the bank side carries FDIC cert 57803. Support runs on email, chat and phone, so help is available by phone, chat, email or a help centre as well as in writing.
How Ally Bank compares
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Ally Bank vs eToro9.6 vs 9.2
9.6 vs 8.7
9.6 vs 8.6
9.6 vs 9.2
9.6 vs 9.2
9.6 vs 9.0
9.6 vs 9.2
9.6 vs 9.2
9.6 vs 9.2
9.6 vs 9.1
9.6 vs 9.0
9.6 vs 9.0
9.6 vs 9.0
9.6 vs 9.0
9.6 vs 8.8
Where Ally Bank is available
- Available
- United States
- Licence in United States
- SEC, checked September 26, 2026
- Licence in United States
- FINRA (136131), checked September 26, 2026
- Licence in United States
- FDIC (FDIC cert 57803), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does it cost to keep an account open?+
The brokerage account fee is $0 and the online savings account carries a monthly fee of $0. The inactivity fee is also $0, so an unused account is not quietly charged. The one regular trading charge is on options, at $0.50.
Is there a minimum deposit to start?+
Self-directed trading opens at a minimum deposit of $0, and Ally Bank ranks 1 of 218 brands on that measure. Automated investing is the exception, with a minimum investment of $100 before the first purchase.
What can I trade and what does a trade cost?+
The self-directed platform covers stocks, etfs and options, and stock trades are charged at $0. Options are the exception, with a charge of $0.50. The listed model is commission free, so most of the running cost sits outside the trade price.
Is my money protected?+
Two schemes apply. Savings are FDIC insured (certificate 57803), while investments held in the brokerage account are covered by SIPC up to USD 500,000. The business is supervised by SEC, FINRA and FDIC in the US, so two different bodies watch the two sides of it.
How often can I withdraw from savings?+
The online savings account allows 10 limited withdrawals and transfers per statement cycle. That limit is the practical constraint for anyone treating this as an emergency fund, and the account is listed as easy access rather than a notice or fixed term product.
Can I hand my money to a robo advisor instead?+
Ally Bank runs automated investing with a management fee of 0% to 0.3% and a minimum investment of $100. Portfolios cover etf, esg and cash, and the accounts are available as joint, IRA and Roth IRA types.
How many investors lose money in markets like this?+
Retail accounts that lose money across the brokers compared here have a median of 70.15%, with 65.75% at the lower end and 74.5% at the upper end. Those figures describe the wider market rather than Ally Bank on its own, so they sit alongside its commission free model and $0 stock trades.
Sources
- banks.data.fdic.gov/bankfind-suite/bankfind/details/57803 checked September 26, 2026
Backs: Deposit protection, Headquarters, Legal entity, Licences
“CERT=57803; NAME=Ally Bank; WEBADDR=www.ally.com; ACTIVE=1”
- brokerchooser.com/broker-reviews/ally-invest-review/ally-... checked September 26, 2026
Backs: Inactivity fee
“No, doesn't charge an inactivity fee - Ally Invest”
- files.brokercheck.finra.org/crs_136131.pdf checked September 26, 2026
Backs: Investor protection, Regulators
- ally.com/bank/online-savings-account checked September 26, 2026
Backs: Access terms, Headline rate, Monthly fee, Rate type
“You can make 10 limited withdrawals and transfers per statement cycle from your Savings Account.”
- ally.com/bank/savings-account-rates checked September 26, 2026
Backs: Account kind
“Access your money at any time. ... Ten withdrawals per statement cycle”
- ally.com/contact-us checked September 26, 2026
Backs: Support channels
“Log in for chat support or send a secure message. ... General Bank 1-877-247-2559 Open 24/7 ... Get quick, easy answers to most common Ally Bank questions”
- ally.com/invest/robo-automated-investing checked September 26, 2026
Backs: Account types, Management fee, Minimum investment, Portfolio types
“Ally Invest Advisors Inc. offers the following variety of account types: Individual, Joint, Custodial, Traditional IRA, Roth IRA, Rollover IRA”
- ally.com/invest/self-directed-trading checked September 26, 2026
Backs: Markets, Minimum deposit, Pricing model, Options contract fee, Stock trade fee
“Stocks $0 commission - ETFs $0 commission - Options $0.50 per contract - Mutual Funds - Bonds - Self-Directed Trading”
- fxleaders.com/forex-brokers/forex-brokers-review/ally-inv... checked September 26, 2026
Backs: Account fee
“No account maintenance fees apply - Self-Directed Trading”
- y.gogonow.de/finance.yahoo.com/personal-finance/banking/r... checked September 26, 2026
Backs: Founded
“Ally Financial was originally founded in 1919 as the General Motors Acceptance Corporation (GMAC)”
Compiled from 10 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Retail accounts that lose money.