onlinebanking with Ally Bank

COULD YOU PLEASE TELL ME WHAT YOU KNOW ABOUT ALLY BANK. IT HASBEEN OFFERING AHIGHER INTEREST RATE ON MONEY MARKET THAN MY LOCAL BANK.IS ITSAFE?

Terry Says:  Ally Bank is a primarily online bank, and highly regarded.  Here’s a link to finding out everything about them:  http://www.ally.com/about/company-structure/  As long as you’re in an FDIC insured money market account or CD, there is no reason, except perhaps convenience of a local banking institution, not to use them.  Ally grew out of the old GMAC (General Motors Acceptance Corp) and changed its name when the government took over GM!