Saturday, October 15, 2022

Where Is Ally Bank Located

Don't Miss

About Ally Bank History And Headquarters Information

Ally Bank

Ally Bank is into financial services. The headquarters is located in Detroit, Michigan. The company has planned to shift its headquarters to Charlotte, North Carolina in 2021.

Ally Bank is into the business of car finance, mortgages, credit cards, brokerage firms, online banking, etc. It is the 19th largest bank in the US.

The company was founded in 1919 by General Motors. It was then a corporation that provided loans for automobiles. In 1985, the then CEO of the company introduced mortgaging services under the company. In 1998 the company stepped into real estate business. Eventually it sold its real estate wing in 2006 due to heavy debt. In 2010, its name was changed as Ally Financial.

In 2012, it sold its Canadian banking operations. In 2016, it acquired Trade King. Trade King was a brokerage firm. Today there are more than 1500 employees associated with Ally Bank. Its work area is more than 400, 000 square feet.

Incoming Domestic Wire Transfer Instructions

You can receive funds to your Ally Bank account from any bank within USA using domestic wire transfer. You need to provide the following details to sender of the funds who will initiate the domestic wire transfer through his/her financial institution.

Bank Name:
Outgoing $20 for each transaction

Apart from the wire transfer fees, if the transfer involves currency conversion, banks make money on currency conversion as well by giving retail conversion rates to you which is usually 1-2% lower than the market rate. We recommend using services like TransferWise for getting best conversion rates with lower wire transfer fees.

How Ally Bank Stacks Up

Ally is worth consideration for savers interested in higher rates, low fees and no minimum deposit requirementsthats a rare trifecta at banks.

Its worth noting that Ally is also a full-service bank, providing a one-stop-shop for banking customers also interested in mortgages, loans and investing. Because of its robust mobile app and online banking technology, its possible to accomplish all your banking needs without visiting a physical location.

In place of branch access, the bank offers 24/7 customer service via phone, live chat or email. But that means that this bank isnt ideal for those who prefer to bank in person, especially if you often need to deposit cash.

Ally consistently offers competitive interest rates, landing them among the best online banks, including being recognized among the best online savings accounts, best CD rates, and best money market accounts.

Ally Bank ranked fifth on J.D. Powers 2020 U.S. Direct Banking Satisfaction Study, right behind Capital One.

You May Like: Td Bank Overdraft

Entertainment And Performing Arts

Major theaters in Detroit include the , , the , , the , the , , , the , and , which hosts the renowned . The , the largest controller of Broadway productions in New York City, originated with the purchase of the in 1922 by the Nederlander family.

with 535,000 square feet produces movies in Detroit and the surrounding area based at the Pontiac Centerpoint Business Campus for a film industry expected to employ over 4,000 people in the metro area.

Because of its , , and , Detroit has enjoyed increased prominence as a tourist destination in recent years. listed Detroit as the 9th-best destination in its list of 52 Places to Go in 2017, while travel guide publisher named Detroit the second-best city in the world to visit in 2018.

Many of the area’s prominent museums are in the historic neighborhood around and the . These museums include the , the , , the , as well as the main branch of the . Other cultural highlights include , the museum, the studio and school, the Museum, , the Dossin Great Lakes Museum, the , the Contemporary Art Institute of Detroit , and the Belle Isle Conservatory.

Artist Tyree Guyton created the controversial street art exhibit known as the in 1986, using found objects including cars, clothing and shoes found in the neighborhood near and on Heidelberg Street on the near East Side of Detroit.

Gm Branched Out Further In Home Mortgage Services

Ally Bank Reviews, Rates and Information

In 1999, GM acquired the Ditech company. The following year they established a direct bank which was named GMAC Bank. Just five years later, in 2005, they developed the GMAC ResCap to serve as the holding company that would preside over its mortgage operations. What had started as a financial service for the auto industry had now made a full launch into the dual services of home and auto and they became a major force in home mortgage loans as well as in real estate. The American public was in need of car and auto services and GM filled the gap nicely with diversified services.

Also Check: Atm Withdrawal Limit Td Bank

Ally Bank Participates In Giveaways

As a major financial institution, Ally Bank understands the value of giving out rewards to their loyal customers. They celebrated attaining their 1 million customer mark by distributing 2,300 gift cards to their customers. This was a major milestone for the company but the significance of the 2,300 is because this was how long it took them to reach the one million mark. The marketing department of the bank also participated in a 2018 giveaway that they called Banksgiving. They asked customers what they needed and then selected customers to received monetary gifts in amount from $25 to $55,000 as a charity donation.

How To Bank With Ally Bank After Business Hours

Since Ally technically doesnt have business hours, this is more about banking with Ally in general. As an online bank, Ally offers its customers banking options such as online savings and checking accounts, money market accounts and high-yield CD options. Allys mobile banking app, online accessibility and an extensive network of Allpoint ATMs let you access and monitor your money without the need of a teller. Ally Bank is also compatible with Amazons Alexa in addition to your phone or tablet.

Read Also: Who Does Jackson Hewitt Bank With

Open An Account With Ally Bank

To get started, visit or call 1-877-247-2559. As with any financial institution, you need to provide personal information when opening a bank account.

Benefits In our review, we found thatAlly Bank is a solid option for anybody that wants free online banking. Interest rates arent always the highest. But Ally Bank is competitive, so you can earn a decent return without putting effort into chasing rates and switching accounts frequently. With 24/7 customer service and a well-designed site that explains almost everything, you know what to expect with Ally Bank .

Drawbacks The main weak point is the money market account, which pays less than Allys savings account and less than other banks money markets. If you need a high money market rate, it may make sense to look elsewhere. Alternatively, you can keep the bulk of your money in Allys savings account or a liquid CDand transfer money to checking or the money market when you need it.

Ally Money Market Account

Ally Financial Wants Your Location

Ally offers a Money Market Account, advertising for you to increase your earning power. keep your money within reach. There is no minimum opening deposit, no monthly maintenance fees, and your money is FDIC insured.

Your MMA account will also come with a debit card and you will have access to unlimited ATM withdrawals.

Read Also: Lightstream Boat Loans

Ally Bank Customer Service

Ally Bank offers several ways to get support when needed. Phone support is available 24 hours a day, seven days a week. Customers can also log into their online account to send secure messages.

For immediate service, Ally also offers chat support through its website. You can also send general correspondence by mail to:

Ally Bank Customer CareHorsham, PA 19044

The Company Was Rocked By A Costly Scandal In 1991

GM ran into a sticky situation in 1991. One of their executives was involved in an illegal operation that cost the company dearly in terms of its reputation and well as financially. John McNamara had committed fraud and was convicted of running a Ponzi scheme. It generated a bad debt for the GM company in the amount of a $436 million loss. GM was forced to write off a total o $275 million of this debt. It made national headlines and shook the company to its core.

Don’t Miss: Routing Number For Ibc

Who Is Ally Bank Owned By

Ally Bank is the consumer-focused banking division of Ally Financial. Believe it or not, Ally Financial initially started off as the General Motors Acceptance Corporation back in 1919.

At the time, the company was focused on providing auto financing to American consumers. Two decades later, GMAC formed the Motors Insurance Corporation and began offering car insurance.

In 1985, GMAC entered into the home financing arena by acquiring two mortgage companies and an $11 billion mortgage portfolio.

In 2000, the company formed its first direct bank: GMAC Bank.

After a series of complicated debt write-offs, mergers, and government interventions, GMAC rebranded itself as Ally Financial in 2010. It hasnt looked back since.

A New Company Took Over Gmac In 2006

What are some services offered at Ally Bank branch ...

While the customers who held loans through GMAC probably didnt notice any changes, in 2006, a private equity firm named Cerberus Capital Management purchased a 51% interest in GMAC. General Motors had a agreed to the proposition that gave the firm a controlling interest in GMAC. In the same year, GMAC sold a portion of GMAC Commercial Holdings, which was its real estate division to Five Mile Capital Partners, Kohlberg Kravis Roberts and Goldman Sachs. It was enough to give them controlling interest and the real estate portion was renamed Capmark.

Don’t Miss: Td Bank Overdraft Fees

Ally Bank Serves Millions Of Customers

Ally Bank proudly serves an estimated 4.3 million retail customers. They are a financial service provider for more than 18,500 automotive dealerships. Theyre a major financial institution who serves many larger businesses and corporations as well as individual customers not affiliated with any type of business. Theyre a bank that assists a diverse group of customers and they do it very well.

Ally Bank Review: Checking Savings And Cds

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list ofour partnersandhere’s how we make money.

Overall bank rating

The bottom line:

Ally Bank is online-only the money it saves on overhead, it can pass to customers in the form of high interest rates and minimal fees. For example, the bank removed its overdraft fee in June 2021. It also has strong customer service and is ideal for people who don’t need branch access for their banking.

Best for: Those who want competitive rates, minimal fees, easy access to customer support, and donât need to deposit cash or access in-person services.


  • No monthly maintenance fees or minimum balances on checking, savings or CDs.
  • Access to over 43,000 free ATMs via checking or money market accounts.
  • An above-average interest rate on savings.


  • No way to deposit cash.
  • No branches available.

Recommended Reading: Motorcycle Loan Chase

Ally Banks Customer Service

Ally Bank earns high marks for customer service, taking second place in the 2019 J.D. Power 2019 Direct Banking Satisfaction Study. Customers particularly like Allys account opening experience, as well as the products and fee structure.

Whats more, Ally Bank offers phone support 24/7, and you can see your estimated wait time before calling . If you prefer typing, you can chat with customer service representatives 24/7. Customers logged in online or using the Ally Bank app can send secure messages and chat about account-specific issues.

Ally Bank Salt Lake County Locations

Ally Bank axes overdraft fees should they exist at all?
Code: 21 – Limited Service Administrative Branch – This is a management office. Accepts no deposits and does not make loans.Code: 11 – Full Service Branch Office – Accept deposits, can make different types of loans, open and close accounts, loan officer is typically on site, normal hours, full-time banking staff. These office locations may or may not have safe deposit facilities on site, they can give loan and deposit rates. The branch location may be owned by the bank or may be leased by the financial institution.

Also Check: Chase Bank Greenville Nc

Ally Bank Provides A Diverse Group Of Financial Services

Throughout the decades, Ally Bank, formerly GMAC has evolved and diversified its offerings to include a wide variety of financial services. Theyve come a long way since their initial launch in 1919, when they just offered auto loans. They sequentially added new services to their portfolio to include auto insurance, mortgage loans, and now offer corporate lending services, online banking, brokerage firm services and credit card services.

Primary And Secondary Schools

As of 2016 many K-12 students in Detroit frequently change schools, with some children having been enrolled in seven schools before finishing their K-12 careers. There is a concentration of senior high schools and in the area, which had wealthier residents and more gentrification relative to other parts of Detroit: Downtown, northwest Detroit, and northeast Detroit have 1,894, 3,742, and 6,018 students of high school age each, respectively, while they have 11, three, and two high schools each, respectively.

As of 2016 because of the lack of public transportation and the lack of school bus services, many Detroit families have to rely on themselves to transport children to school.

Public schools and charter schools

With about 66,000 public school students , the district is the largest in Michigan. Detroit has an additional 56,000 students for a combined enrollment of about 122,000 students. As of 2009 there are about as many students in charter schools as there are in district schools. As of 2016 DPS continues to have the majority of the special education pupils. In addition, some Detroit students, as of 2016, attend public schools in other municipalities.

Detroit public schools students scored the lowest on tests of and of all major cities in the in 2015. Among eighth-graders, only 27% showed basic proficiency in math and 44% in reading. Nearly half of Detroit’s adults are .

Private schools

Detroit Free PressDetroit News

You May Like: Zelle Chase Limit

Youre Our First Priorityevery Time

We believe everyone should be able to make financial decisions with confidence. And while our site doesnât feature every company or financial product available on the market, weâre proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward â and free.

So how do we make money? Our partners compensate us. This may influence which products we review and write about , but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services.Here is a list of our partners.

Ally Corporate Finance Ally Financial

Ally Bank Online Banking Login â Rolfe State Bank
    Ally Bank, the company’s direct banking subsidiary, offers an array of deposit and mortgage products and services. Ally Bank is a Member FDIC and Equal Housing Lender , NMLS ID 181005. Mortgage credit and collateral are subject to approval and additional terms and conditions apply.

Read Also: Do Banks Sell Silver Bars

Gmac Became Ally Financial In May Of 2010

GMAC re-branded itself as Ally Financial in 2010. They had acquired a resort finance business when involved in real estate and in the same year, they sold the business to Centerbridge partners. Just two years later, Ally Financial brought another $3.8 billion into its coffers through the sale of its Canadian banking operations to the Royal Bank of Canada.

So Is Ally Bank Right For You

If you like to access your accounts online and want to earn the best savings interest rate in the industry, Ally Bank is without a doubt worth considering.

I personally like to use their savings account for my emergency fund. I love how my funds grow roughly 1.9% every month, regardless of how the stock market performs, and with absolutely no effort or risk on my end.

In my opinion, Ally should be a part of every millennials banking portfolio. How big of a part depends on your unique circumstances, of course. But poke around, take a look, and see if you like it. I think you will.

Recommended Reading: Regions Bank Hours Chattanooga

Gm Expanded Into Real Estate In The Late 1990s

While still operating under the name of GMAC, the bank formed yet another company in the vein of diversification. in 1998, GMAC Real Estate was developed and launched. They had branched out in several directions and were not only providing home and auto loans as well as car insurance, they were not getting into real estate. It made sense to follow this direction because GM was already servicing home loans.

By 2018 Ally Financial Was Ranked Among The Top 20 In America

Ally Bank Debit Card Protection

Ally Financial made it to the position of the 19th largest banks in the United States as determined by assets in 2018. They had weathered many financial crises that put other financial institutions out of business. They also reached the status of becoming the largest auto finance company n the United States by volume. They were the leader in the auto loan industry.

You May Like: Ibc Bank Telefono

More articles

Popular Articles