Ally Bank checking

[4thmouse]

Anybody here have ALLY Bank account? I was considering signing up because it seem like they are pretty descent bank. I know they gave me an awesome 6% auto loan 3 months out of BK when everybody else was 12+ percent.

Im kinda iffy about getting a checking with an internet bank.

[ksgirl38]

I do, just got it at the end of June. What concerns/questions do you have?

[4thmouse]

Well the biggest thing, If I need cash, How hard is it to obtain. Also how difficult are the deposits.

[ksgirl38]

You can basically use any ATM. You'll initially get charged for the ATM fee, but at the end of the month when you get your statement they'll reverse the charges so you'll see an ATM credit.

Deposits are a little trickier. You can mail them which obviously is going to take longer. Otherwise you can scan them and submit them online electronically. New accounts seem to take longer for checks to post, but the last one I did I did over the weekend and it posted on Monday. If you get them submitted early enough they'll post the next business day.

[4thmouse]

Wow, they turned me down for a checking because chapter 7 bk shows on my credit report. Strange considering they gave me an auto loan. First bank I have ever had do a credit report pull for a checking.

[ksgirl38]

Really? I don't recall doing a credit check. Of course this was just before I filed too. Maybe it's because of the debit card.

[4thmouse]

Maybe. The Credit check surprised me, But the fact that they will give me an auto loan and not a checking account is kinda messed up.

[ksgirl38]

Can't explain that one. Maybe it's all a timing issue.

[IBroke]

Wow, they turned me down for a checking because chapter 7 bk shows on my credit report. Strange considering they gave me an auto loan.

Some things in life simply don't make sense. This is a great example.

[4thmouse]

Well that is weird. Got a email today saying my new account was ready. Now Im downright confused. Course I can't have a username or password, So I don't know how Im supposed to log in. Now I don't know if I want to continue with them or not, If they are so messed up that one minute I can't have a checking account the next I can, What will they mess up next?

[ksgirl38]

Strange. Have you called them to see what's up?

[4thmouse]

Yeah, They said something about turned down accounts being further reviewed or some such thing. I went ahead and took the account. You folks that use them pretty happy with them?

[Epic]

Yeah, They said something about turned down accounts being further reviewed or some such thing. I went ahead and took the account. You folks that use them pretty happy with them?

4thmouse, what rate did Ally give you on your auto loan?

[4thmouse]

New Car, $29,800, No trade, 6% Fixed for 60 months, I paid the TT&I out of pocket though. Ally was the lowest by far. Everyone wanted in the 12% up to 14% range and many wanted a down payment, Which in itself was ridiculous because many of the same ones who wanted money down were willing to wrap initial TT&I in the loan, Negating any money down.

CK Score was 630 2 months post. However I don't know FICO, since I didn't actually start checking FICO until about a year post.

although it is time to see if I can Refi it now that I am right at the 700 fico.

[ksgirl38]

Yeah, They said something about turned down accounts being further reviewed or some such thing. I went ahead and took the account. You folks that use them pretty happy with them?

Better than my last bank. The fact that you can use any ATM you want is nice. They also have these things called Ally Perks where sometimes you get credits for shopping at certain stores. I've inadvertently gotten a few credits that way. Free checks are nice too. Overall they are pretty good. My only complaint was in the beginning when it took awhile for deposits to go through, but I guess that's standard with new accounts.