Although Ally does not offer a student account, the standard checking and savings accounts are excellent. There are no fees with these accounts, and you can earn 0.50 percent on your savings balance. The disadvantage is that Ally is a completely online bank.
As a result, there are no branches to visit if you have a problem, and Ally does not provide credit cards. This means that, while your basic banking needs are met, Ally may fall short if you require more.