Forum

Got rejected by Ally
 

I got a letter in the mail giving the following reason for my rejection: No debit data found, no open paid or closed trade lines found and no credit score. I guess I'm in chex, but I don't understand the reason I was rejected.

no credit score!

No credit history will kill you every time.

You are seen as a higher than average risk as you have no record of proven credit worthiness

Ah, too bad, ING and Ally are really the only non prepaid card banks I've encountered that only require an SSN to sign up. Most online banks also ask for additional id in addition to that. Unless there's another online bank that doesn't perform chex and has an easy signup I'm stuck with that option, which at this point, is practically no option at all.

You have no active credit card?

How old are you?

Have you ever had any type of credit at all?

Have you checked your own credit file recently?

You can get a free copy of your credit file from the annual credit website so you can check it yourself.

If you have no credit file at all you really need to apply or get some kind of credit card even if it is a secured card that reports.

Could you have given them wrong info?

And if you are in Chex you wont get past Ally and many others.

Pay off your chex balance and it should be removed in time.

* Get your free credit report and NOT from the scam free credit report dot scam site either.

Forgot something.

Ally requires I believe a 550 FICO score or above for opening an account.

If you do not have any open credit and no score that is why you were rejected.

have you guys read my post about Ally?
Ally is not good for stealth

Ally is one of those banks who will allow a lower credit score for accounts but if you saying they are not any good then to point is moot.

Still use ally and no problems... There are other factors that come into play?

Also, do you link a checking account to Ally from get go? It does make a difference as they see you have already been verified once by a "big bank".

There are some other factors too, but those you gotta figure out on your own. :yar:

Do not I repeat do not use ally to verify your paypal account. They can see the real name on your PayPal account and will freeze your money. Also ally seems like an unreliable bank. They aren't even a real bank. I would never use them as my main bank even if it was only to store my money away. Again if you ate playing to open a bank account use known banks that have tellers and ATMs across your state.

Ally bank will be able to see the name that it is coming under
Trust me from previous experience, they froze over 1k from me including savings and checking account.
No they will not send u a check or anything they will just basically hold your money:tears::ballchain::violin:

Was this one money transferred into ally at once or over time?

@Ballsack


Check your local credit union(s)

Or look at creating a credit score over the next months. :spy:

http://www.aspkin.com/forums/subscri...ing-funds.html

read the info in the above thread

:focus:

I am sure many people don't have any troubles with Ally bank. I have a bad mark with chex systems and I got approved there. I never have used them cuz I found many credit union options. I'm sure my info is still stored on their computers. Maybe people opened too many accounts with Ally.

There are way better options out there why take a chance with them...
Like they say I guess. U could take a horse to a lake but u can't make him drink it

No it was over a period of time accumulating to over 1k. Btw I did a transfer with ccnow also with ally and that's also no good

I wouldn't trust any bank connected to a paypal or ebay account. Never leave anymore money sitting in there than necessary. When I make withdrawals from paypal, I am at the ATM machine 2 business days later.

what difference does it make, once its out of paypal its suppose to be safe, as long as i dont hit 10k on my accounts im good, not to mention of course im not having thousands of dollars transfered at once any way... not like i would be able to even if i wanted to

"Supposed to be safe" not 100% safe. Get a real bank account, for your main finances and real life. Or keep your money at your house next to your guns. Especially when you are working with a bank that is very unproven like Ally.

There are plenty of banks that are tried and true. Ally is not one of them.

:focus:

And back to the OP's original question.. Ally rejected you because they have stricter credit requirements than most banks. The reasons you mention sound like your lack of credit, not anything with chexsystems. Go to US bank, Bank of America, or Wells Fargo. You will easily be able to get a bank account.

Not to mention, ally is no good, i already know first hand

I don't think ally can keep your money. No matter where it comes from is 100% yours and it is in your accounts name. If they accept the transfer is their problem not a customers problem.

Exactly! If you act all sketchy then they will know your up to something. Act arrogant like everyone else and you will get your way. I hate this, but its true.

They might not be able to keep it but they can sure hold it until the rightful owner with the correct name can claim it.

I mentioned above that you have to have at least a 550 min FICO score to even get an account with Ally.

I was just reiterating that point to be clear. My main point was that Ally bank is garbage, and the OP can easily open a real bank account at one of the places I listed in my previous post.

I totally agree BG!

I do not know anyone yet to have Paypal limit them due to seeing the account holders name. I am speaking from personal experience, right now I have around 20 accounts right now that have seen Paypal taking the deposits back. :typing:

What facts do you have to back up the statement that Paypal can see the name of the bank account. I have over 8 Ally accounts all made when this whole new Paypal mirco deposist withdrawal came in to play and none of my accounts have been limited, 2 months active with a good amount of sales. Ally is safe, but play by the rules and do proper business and most banks will leave you be. Those Ally's are spread over different name's also :shocked:

That would be your opinion because Ally did not work for you, that does not mean it wont wont for others. I do appreciate you sharing the issue you had but other people are having success with them. You cant just run money through banks, you have to treat them like you would when your building trust with Paypal. Buy something, pay for something, take out small amounts, leave some funds in there etc...

Also you had alot of accounts, yes 5 accounts is alot. What was your length of history with Ally bank to have 5 accounts? My rule is 3 at most with most "most" banks.

All I said was that Ally is a garbage bank. I'm just basing it on the fact that they are a small, start-up bank that is unproven. Why not just use a bank that doesn't have tons of negative reviews?

This is very important. Why?

So far not one case of an account going down for the reverse of withdraw.

If anyone has this happen we all need to know about it, no matter the bank.