Interest Checking Account: FAQs

Frequently asked questions

  • How will I add money to my Interest Checking Account?

    There are six ways to add money to your account:

    • Move funds online between Ally accounts
    • Make transfers online between your Ally account and your accounts at other banks that have been registered with Ally
    • Scan and submit your check images with Ally eCheck DepositSM
    • Use the direct deposit form to set up your paycheck or Social Security deposits. Download form
    • Wire transfer
    • Checks sent by U.S. mail (Please don't send cash)

  • Where can I find Ally ATMs?

    You won't see an Ally branch or ATM, but you can use your Ally debit card at any ATM worldwide. Plus, if you use any ATM in the U.S., we'll automatically reimburse ATM fees charged by other banks at the end of your monthly statement period.

    To find an ATM, use the Ally ATM & Cash Locator at allybank.com. You can also use the ATM & Cash Locator at our mobile banking site—m.allybank.com—or download our Mobile Banking app for iPhone® or Android™.

  • How can I access the money in my Interest Checking Account?

    To access your account, make payments, or move your money:

    • Use a debit card or checks for purchases and payments

    • Make payments using free Online Bill Pay

    • Get cash back when you shop with your debit card

    • Get cash from an ATM (To find a nearby ATM, use the Ally ATM & Cash Locator)

    • Transfer money between your Ally accounts

    • Transfer money from your Ally account to another bank account

    • Call us to obtain a cashier's check or for a wire transfer

  • Is there a daily ATM withdrawal limit with Ally's Interest Checking Account?

    Yes. For your protection, you can withdraw up to $500 a day from ATMs. To find a nearby ATM, use the Ally ATM & Cash Locator.

  • When will I receive my new debit card or checks?

    Your free debit card and initial check order will arrive in the mail within 10 business days after we receive your opening deposit. If you re-order free Ally standard checks we'll send you a secure email asking you to confirm your address. Once your address is confirmed, your checks should arrive in 10 business days.

  • Will my Ally debit card have a daily purchase limit?

    Yes. For your protection, you can use your debit card to make up to $2,500 in purchases a day. If you have special circumstances, and know you'll exceed this amount, call us in advance at 1-877-247-ALLY (2559) to set up a one-time, extended limit.

  • What's the difference between an Interest Checking Account and a Money Market Account?

    Both accounts give you easy access to your money and a competitive interest rate on your balance.

    Federal regulations limit the number of transactions (transfers or withdrawals) you can make from a Money Market Account to just six per monthly statement period. While you will receive checks and a debit card for those transactions, you won't have access to the free online bill pay service that comes with an Interest Checking Account. Remember, deposits are always unlimited and don't count towards your six transaction limit.

    With our Interest Checking Account, there's no limit on the number of transactions you can make. You'll also get the convenience of our online bill pay service for free. And as your checking balance grows, you could earn a higher interest rate.

  • Is Ally Bill Pay included with Ally's Interest Checking Account?

    Yes. Ally's free online bill pay is included with your Interest Checking Account— no additional enrollment is required. Once your new account is opened, you can take advantage of this secure, easy and environmentally-friendly way to pay bills.

  • What information do I need to open an Ally Interest Checking Account?

    All you'll need is your name, contact information, and social security number. If you're opening a joint account, you need that information for each account owner. If you already have an account with us, we'll ask for your online username and password, so we can securely identify you and pre-fill most of the application for you. Call us at 1-877-247-ALLY (2559) if you need these or to open your account by phone.

  • Which interest rate will apply to my Interest Checking Account balance?

    Your account balance at the end of the day determines the rate we use to calculate your interest earned for that day. The interest you earn each day is then totaled and paid to you at the end of your monthly statement period. To see how your checking account balance can influence how much interest you earn, go to Interest Checking Rates, enter your average balance, then select Calculate.
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