CHARLOTTE, N.C.
— GMAC Financial Services announced Friday that launched Ally Bank, the new
brand for its U.S. online bank.
Ally Bank will offer a variety of savings products,
including no-penalty certificates of deposit (CDs), online savings accounts and
money market accounts. "We are launching a new brand with a new approach
of treating customers with total transparency," said GMAC Chief Executive
Officer Al de Molina. "Unlike other banks which depend on fees as a
business model, we want to make money with customers, not off customers."
The transition of GMAC Bank to Ally Bank will be seamless for current bank
customers. "Both current and new customers will benefit from our improved
online banking experience, the avoidance of teaser tactics, true no-penalty CD
products, and rates among the best in the country for all of our savings
products," de Molina said.
Ally Bank builds on the expertise of the GMAC team's nearly 90 years of
customer financial services experience to take banking in a new direction:
- No-Penalty CDs with No Strings Attached: Customers can
withdraw funds prior to the maturity date without a fee and transfer the
funds to any account at any bank without penalty.
- Sleeping Money Alerts: While most banks are happy to let
customer deposits earn minimum interest, Ally Bank will send an email to
customers when funds have been idle for three months and when the customer
can be earning a higher rate of return.
- No Teaser Rates: Ally Bank will not "bait and
switch" depositors with teaser rates that later change on CDs or
other products.
- Leading Bank Rates: Ally Bank is committed to always
offering rates among the best in the country across all savings products.
The Ally Bank Website clearly posts a rate comparison tool, enabling
customers to check out the competition.
- No Sneaky Disclaimers: Ally Bank provides complete
transparency on rates and terms, and won't hide behind legalese and
jargon.
- 24/7 Customer Service: Recognizing that not all questions
can be answered by an automated system or during traditional business
hours, Ally Bank offers around-the-clock access to a call center agent for
customer assistance.
- No Minimums: There are no minimum deposits or minimum
balances required at Ally Bank.
"The Ally brand is founded on three principles: Talking straight, doing
what is right for the customer, and being obviously better than the
competition," said Sanjay Gupta, chief marketing officer. "It is a
promise from our company to our customers. We believe that being direct and
honest is the best way to build lasting customer relationships."
Gupta added, "Given the recent financial market turmoil, people are
looking for a safe, honest and efficient place to save and grow their money.
Ally Bank offers that place."
Depositors can open bank accounts online, by phone or by mail. Ally Bank is
insured by the Federal Deposit Insurance Corporation up to $250,000 per
depositor through Dec. 31, 2009.
For information, visit www.ally.com
or call a 24-hour customer call line, 1-877-247-ALLY (1-877-247-2559).
