FinTech Magazine April 2020 | Page 64

Ally bank ( GMAC ) [ HQ : SANDY , UT , US ]
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Ally bank ( GMAC ) [ HQ : SANDY , UT , US ]

Ally bank has been around since 2004 and belongs to parent company Ally Financial . The online-only bank is particularly renowned for its high interest savings accounts . It is worth noting that each month Ally will start to charge US $ 10 from the sixth outbound transfer onwards , but that ’ s a worthy compromise given its high interest rates of 1.60 %, which is compounded daily . Customers can access over 43,000 ATMs , and Ally will reimburse $ 10 per statement cycle for any fees charged using an out-of-network ATM in the US . APRIL 2020