Reasons to choose Ally

grow your trust with an ally account

Consistently competitive rates, plus:
  • No monthly maintenance fees
  • Daily compounded interest
  • No minimum balance
  • Award-winning customer service available 24/7
  • FDIC insured to the maximum permitted by law
Compare our products >
Accounts that actually help you save:
  • High Yield CDs
  • No Penalty CD
  • Raise Your Rate CDs
  • Online Savings
  • Money Market
  • Checking
Call us at 1-877-314-2559 or download the Account Application for Trusts here

Get an account started for your Trust

At Ally, we want to make setting up an account for your Trust as easy as possible. Our customer care associates are always here to help you fill out your Account Application for Trusts and identify all the documents required to open your account. Just call us 24/7 at 1-877-314-2559.

Here's some useful information to get you started:

1. Begin with a legal trust agreement.

First, you'll need to establish your legal trust agreement – this typically requires the services of an attorney.

2. Send us your documents.

Follow the instructions on the Account Application for Trusts and mail in your required documents.

3. Make your deposit.

Here are your options:

  • Mail in a personal check with your documents
  • Transfer from an existing Ally account
  • Wire transfer from a non-Ally account
4. We’ll be in touch with you.

A customer care associate will review your documents as quickly as possible. If we need any other information we will call you no later than 10 days after receipt of your documents. Otherwise your account will be opened and you will get a confirmation email. Of course, you can call us anytime at 1-877-314-2559 to check on your application's status or to ask questions.

Call us at 1-877-314-2559 or download the Account Application for Trusts here


1. Why would I want a Trust?

A trust can be a useful financial planning tool to help you (the grantor) ensure your assets are protected and that your beneficiaries are cared for in the future. A trust can also help you reduce estate taxes and avoid probate (the sometimes long and complicated process of settling an estate). An attorney can help you obtain a legal trust agreement and name the trustee, who is the person who will manage the trust once it has been established. Then an Ally account can be opened for the trust.

If you have questions about whether or not a trust is right for you, you may want to consult an attorney or financial advisor.

2. Can I also become the trustee of my Trust?

Many people decide to name themselves as the trustee so they can control the trust's assets. As the trustee, you can decide what type of account you want to hold your money. An Ally associate can explain how our current products work.

3. What's the difference between revocable and irrevocable trusts?

With a revocable trust, the grantor can make changes to the trust under certain conditions. This is a flexible agreement often used to avoid probate and protect the privacy of the beneficiary. An irrevocable trust is one where the grantor has given up the right to change any terms of the legal trust agreement. While not as flexible as a revocable trust, it can help reduce estate and gift taxes.

4. Will the account for my Trust be protected by FDIC coverage?

Yes. Accounts for Trusts are insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum allowed by law.
Learn more.

5. Can I convert a current Ally account into an account for a Trust?

Yes. Call us 24/7 at 1-877-314-2559 for more information on converting your existing Ally account to a trust account.

Call us at 1-877-314-2559 or download the Account Application for Trusts here