Is Ally Bank Safe?

Is Ally Bank Safe?

Ally Bank is a member of the FDIC and regulated as any other domestic bank, making Ally a safe organization for financial transactions. Ally Bank is an online bank, so it has no physical locations for customers to visit for banking activities.

Ally has been a member of the Federal Deposit Insurance Corporation since 2009, so its accounts are insured as a normal bank. It has also maintained a 90% satisfaction score among its customers. The bank offers customer service 24 hours a day, seven days a week. There are limitations for the customer, such as using another bank's ATM machines for withdrawals. Since there is no physical location, deposits must be made online.