Ally Bank continues to get on its feet after getting entangled with the financial woes of GMAC last year. The bank is pushing for some good money in the bank deals.

Among the most competitive rates it has now is the 1.29% APY for the money market account. It remains one of the most competitive money market rates in the area today. Aside from being one of the best money market rate today, it also has other attractive features. The account has no minimum balance requirement and no monthly service fees.

The first fifty checks ordered through this account will also be free of charge. However, the MMA follows federal regulations, including a cap of six withdrawals per month. MMA holders will also be given their own check cards.

Deposits to the account will have to be done electronically, through the bank’s online database. The good news is that this feature allows you to connect an unlimited number of other bank accounts outside Ally Bank with this money market account. Because this is primarily an online bank, Ally also offers its clients 24/7 service. This is a convenience most account holders can no longer do without, these days.

Should you decide to access your MMA through any ATM nationwide, you won’t be charged extra service fees, either. The Ally Bank is insured by the FDIC. A single account is eligible to $250,000 coverage. This can be raised, depending on the account type, and the number of accounts you hold with the bank.