Consumer complaint received 2026-04-22 00:00:00
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Closing an account — Fees charged for closing account
Company: ALLY FINANCIAL INC.
State: TX

Complaint narrative:
A CD I held with Ally Bank was due to mature on XX/XX/XXXX. Ally states in many places on their website, as well as in the account agreement, that there is a XXXX grace period starting on the expiration date in which you can make changes to the maturing CD, including canceling automatic rollover into a new CD. If your CD matures on the XXXX, this means the last day of your grace period is on the XXXX, right? When I called Ally to cancel the CD on the XXXX day ( XX/XX/XXXX ), I was told that they consider the maturity date to count as " day XXXX '', so the XXXX grace period actually only covers 9 days after the maturity date. This is completely nonsensical and in contradiction to any reasonable interpretation of the account agreement and the policies stated on the Ally website and my account page. By this logic, if you have a XXXX grace period, that means you have to make the change on the maturity date itself. It's not a grace period if you get XXXX days of " grace ''! If my rent is due on the XXXX but I get a one-day grace period without penalties, Ally Bank says that paying on the XXXX is not in the XXXX grace period. There is only XXXX place where Ally specifically clarifies this " ambiguity '' as to what a XXXX grace period means, and it clearly agrees with my ( and any reasonable person 's ) interpretation of the policy. In a video titled " What happens to my CD at maturity '' found on the Account page for my CD, an animation of a calendar is used to clarify what the language means. In the video 's example, a maturity date on the XXXX has a grace period ending on the XXXX. Day XXXX is 10 days AFTER the maturity date, not 10 days including the maturity date as XXXX of the days. Nowhere else, be it the account agreement, advertising, or account information pages on their website, is this issue clarified. In my numerous calls with various levels of Ally customer service staff, you can find multiple cases of staff agreeing that my interpretation seems correct. In one case, when trying to explain the policy to me, an agent counted out the 10 day grace period day by day ... and landed on XX/XX/XXXX, the day I was speaking to him on the phone, as the last day of the grace period. The only response Ally customer serivice has given other than " sorry, it's the policy, let me escalate this '' is noting that the other account holder received an electronic notification stating that XX/XX/XXXX would be the last day of the grace period. However, I am an account holder, legally bound by all terms of the account agreement, and not only was I not actively sent such a notification, there was ( and still is ) absolutely no way for me to view this incorrectly-calculated date. No letters, nothing in the Secure Message portal, nothing in my Documents or Statements, nothing when I view the account details after logging in to the website or the mobile app. There is literally no way for me to find out when the end of my grace period is, other than to view and trust the clear statement that I have 10 days that is found in multiple places on the Ally website, and is explicitly clarified by the " What happens to my CD at maturity '' video, which IS actually visible from my account page on the Ally website. It is false advertising and simply wrong to claim up and down that you offer a XXXX grace period ( which is suposedly a feature of the account that differentiates Ally from competitors who sometimes offer only XXXX or 7 days ), then to deviate from that policy with the sole justification that you notified XXXX of the account holders XXXX time ( without giving the other ANY means by which to access this information ).

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation