With General Motors in crisis, GMAC Bank today changed it’s name to Ally Bank.  According to the press release, the transition of GMAC BAnk to Ally Bank will be seamless for current bank customers.  All login and passwords with be transferred over to the new website.  I was kind of surprise the change was so sudden with no advance notice to current customers.

Today, the company launched a new Web site, allybank.com, along with its new 24-hour customer call line, 1-877-247-ALLY (1-877-247-2559)

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.