Online Savings Account

We offer rates that are consistently competitive.

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Our Annual Percentage Yield (APY) is accurate as of 07/20/2018. Keep in mind, this rate is variable and may change after the account is opened. Fees may reduce earnings.

The APYs for other banks are provided by mybanktracker.com and are accurate as of 07/20/2018. The APYs in this table are for the state of California.

The most common services and transactions are free with Ally Bank.

We're an online bank, which means we don't have physical bank locations. By eliminating the costs associated with traditional brick-and-mortar banks, we can offer great rates and outstanding customer care.

With Ally Bank, you get everything you expect from a traditional bank and more:

• Peace of mind. No hidden fees. No maintenance fees. No minimum balance required
• Make deposits. Deposit checks with Ally eCheck Deposit℠ or ACH transfers
• Keep track. Access your account anytime, anywhere with online and mobile banking

Learn more about the benefits and conveniences of Ally Bank.

Average rating 4.7

• Can I deposit cash?

  No. We don't accept cash deposits. However, there are several ways you can make a deposit into your account.

  • Remote check deposit with Ally eCheck Deposit℠
  • Online transfers and direct deposit
  • Wire transfers and mail

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• How do I add money to my account?

  There are several ways you can add money to your accounts. You can transfer money from another bank or an Ally Bank account. We also offer Ally eCheck Deposit℠ to deposit checks. You can also send a wire transfer or mail checks to:

  Ally Bank
  P.O. Box 13625
  Philadelphia, PA 19101-3625

  Make sure checks are properly endorsed on the back with For Deposit Only and the signatures of all payees. Please don’t send cash.

  You can also set up direct deposit with your employer. Direct Deposit (PDF)

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• How do I make a withdrawal from my Online Savings Account?

  You can withdraw money in 4 ways:

  • Online funds transfer
  • Outgoing wire transfer
  • Telephone transfer
  • Check request

  You should know that there are a few guidelines to these transactions:

  You can always call us and request a check made out to you. You can also make unlimited deposits. But, Federal law limits other electronic, telephone and check transactions to a total of 6 per statement cycle. These limited transactions can be to other accounts or to a third party. If you go over the limit we charge $10 per transaction.

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• How many withdrawals can I make from my Online Savings Account each month?

  You can make six withdrawals and transfers per statement cycle from your Online Savings Account. The limit is set by federal law for electronic and telephone transactions from all U.S. savings and money market accounts. Please remember, you will be charged a $10 fee for each transaction that exceeds this limit.

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• What's the difference between an Online Savings Account and Money Market Account?

  The main difference is the way you access your money. A money market account gives you more access because you can be issued a debit card and checks. An online savings account doesn't include checks or a debit card.

  Discover more about our Online Savings and Money Market accounts. Also, find out how we can help you reach your financial goals when you're starting to save.

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