Ally Bank eliminates overdraft fees entirely

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Interesting. Given their online-only presence, its probably a minor issue from them given their clientele. I wonder what the plan is to make the revenue back elsewhere.


Ally sat on my IRA rollover for 2 months. I called them, they apologized profusely and processed same day I called. It’s not about being a perfect business, it’s about taking responsibility for your mistakes and fixing them immediately. They have a customer for the foreseeable future with me


Semi off topic: Ally is an online only bank and my last online only bank (Simple) became BBVA which is a straight downgrade when it comes to the app and website. Is Ally a really good online only bank or should I switch to Charles Schwab?


I love Ally. I was worried when doing my home closing that it’d be difficult to wire money, but they handled it wonderfully.


At my bank you have 3 options, ” home town coverage ” where they will cover up to 200$ with an overdraft fee tacked on OR “No overdraft charges” where its impossible to clear more than you have in your account, everything simply declines if you dont have the cash. Or a third option where they withdraw out of your savings account if you have one linked in 100$ amounts to cover an overage with no fees.