On December 11, 2020, Ally Financial Inc. provided noteholder notice to the Demand Notes investor base detailing Ally’s intention to terminate our Demand Notes program and redeem, in full, all outstanding Demand Notes. The program closure and Demand Note redemption date was March 1, 2021.
Below, we’ve compiled a list of our most frequently asked questions regarding the discontinuation of our Demand Notes program, and potential next steps for Demand Account holders.
We have answers.
You can contact customer care at 1-800-684-8823 Monday – Friday, 8:30 am - 7 p.m. ET. We'll be happy to help.
Demand Notes are financial instruments generally established by non-bank finance companies. Our Demand Notes program was established prior to the formation of our subsidiary, Ally Bank—which is an FDIC-insured financial institution.
With substantially all of Ally’s business now occurring within the Ally Bank entity, the Demand Notes program is no longer an efficient use of our resources.