Ally Bank

Ally Bank is on your side when it comes to banking. Formerly known as GMAC Bank, Ally Bank (which is a subsidiary of government-backed Ally Financial) offers savings and money market accounts, as well as traditional and no-penalty CDs. The online bank also offers interest checking accounts. The bank offers its services online and over the phone; it operates no physical branch locations. Clients also can use any ATM in the US and Ally will reimburse any fees charged by other banks. Ally Bank was revamped and renamed in 2009 in the midst of GM's (very public) financial difficulties. Predecessor GMAC Bank had been in operation since 2001.