Ally Bank Spending Account Review
- Fee
- $0 per month
- APY
- Up to 0.25%
- Minimum deposit to open
- $0
Our verdict
A checking account with zero monthly and overdraft fees, but cash deposits aren’t available.
The Ally Bank Spending Account, Ally’s only checking product, allows you to earn up to 0.25% APY. There are no monthly fees or overdraft fees, and you get access to 75,000 no-fee ATMs around the country. And even if you use an ATM outside its network, Ally will reimburse you up to $10 per statement cycle for fees charged. That said, Ally Bank doesn’t let you deposit physical cash into this account.
Best for: Those who want fee-free checking and earn interest on their balance, but don’t need to deposit cash regularly.
Pros
-
No monthly maintenance or overdraft fees
-
Earn up to 0.25% APY on your balance
-
75,000+ fee-free ATMs nationwide
-
Free check orders
-
ATM rebates
Cons
-
Can’t deposit physical cash
-
Online only
Who is the Ally Bank Spending Account best for?
This account can be great if you do most of your banking online and want to skip the fees. It’s also a solid option for people who don’t deal with cash much, enjoy using mobile apps and want easy access to ATMs without worrying about overdraft charges.
What we like about the Ally Bank Spending Account
Ally Bank’s Spending Account is a low-maintenance checking account free of annoying fees and offers some nice features you don’t always get with online banks. Here’s what stands out.
No monthly fees or overdraft charges
This account has zero monthly maintenance fees, overdraft fees or minimum balance requirements. Compared to some traditional banks that often charge $5 to $15 a month just to keep your account open, the Ally Bank Spending Account can help you keep more of your money.
Earn up to 0.25% APY
You can earn up to 0.25% APY on your Spending Account balance, which is pretty rare for a checking account. Ally has two balance tiers. If your balance is less than $15,000, your balance earns up to 0.1% APY, but with $15,000 or more, you earn up to 0.25% APY.
Though the rate isn’t as high as what you could get with Ally’s high-yield savings account, it’s still a nice bonus. And most banks don’t offer interest on checking at all.
Wide ATM network and fee reimbursements
Ally gives you access to over 75,000 fee-free ATMs across the country. If you use an out-of-network ATM, Ally will still reimburse up to $10 in fees per month.
Mobile banking
Ally’s mobile app is well-rated and lets you deposit checks, track your balance and use Zelle to pay your friends and family.
Another feature we love about the Ally Bank Spending Account is that you can create spending buckets in the app to get a clearer picture of your spending habits. This way, you can set money aside for different purposes and better manage your budget.
Where it falls short
The biggest downside of the Ally Bank Spending Account is that you can’t deposit physical cash.
You can only add money to the account via online transfers, direct deposits, wire transfers, mail or remote check deposit with Ally eCheck Deposit. This limitation can be pretty inconvenient if you get paid in cash.
On top of that, Ally doesn’t have any physical branches, so if you ever need in-person support, you’re also out of luck.
Ally Bank Spending Account’s fees and access
| Type of fee | Fee details |
|---|---|
| Monthly service | $0 |
| Opening deposit | $0 |
| ATMs | $0 if you use the 75,000+ fee-free ATMs |
| Debit card fees |
|
| Overdraft or nonsufficient funds | $0 |
| Wire transfers |
|
| Other fees |
|
Compare Ally Spending Account to other checking accounts
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How we picked theseWhat is the Finder Score?
The Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.
Customer reviews and ratings
| BBB accredited | No |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 1.14 out of 5 stars, based on 162 customer reviews |
| Trustpilot score | 1.4 out of 5 stars, based on 308 customer reviews |
| App Store Score | 4.7 out of 5 stars, based on 87,700 customer reviews |
| Google Play Score | 2.3 out of 5 stars, based on 31,100 customer reviews |
| Customer reviews verified as of | 23 July 2025 |
Ally Bank has an A+ rating with the Better Business Bureau (BBB) and relatively few complaints for an online bank. On Trustpilot, it hasn’t claimed its profile and holds a low 1.5-star rating. Most complaints were about issues with transfers, slow support, unexpected account closures and poor account security.
Since Ally is online-only, most banking happens through the app. On the App Store and Google Play, Ally Bank has great ratings and reviews. Many say the app is easy to use overall, though a few users complained about bugs and glitches.
Frequently asked questions
Can I use my Ally debit card internationally?
Yes, you can use your Ally debit card internationally, but there’s an international transaction fee of up to 1%.
Can foreigners use the Ally Bank Spending Account?
You must be a US citizen or a legal permanent resident and be at least 18 years old to sign up for an Ally Bank Spending Account.
How many times can I use my Ally debit card?
There’s no limit on the number of transactions you can make when you’re using a debit card linked to an Ally Bank Spending Account.
Your reviews
Jamela Finder
Contributor
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