Handing over (or taking control of) a custodial account with us.
Work together to make it happen.
Generally, a former minor can control money in their account once they reach the age of majority , but usually with a little help from the custodian.
Former minor’s responsibilities
-
Call Ally Customer Care at 1-877-247-2559 to set up online login credentials
-
Open a new account while on the phone, or open a new account online later, using your account login credentials
-
If we need additional verification, we’ll ask you to upload a copy of your social security card and valid form of ID
You can also apply for an account by mail .
Custodian’s responsibilities
Log in to your account and send us a secure message letting us know if you’d like the funds transferred into the former minor’s new account, or dispersed by check.
You can also mail your instructions to us .
Our responsibilities
-
Review the application and all the necessary documents
-
If everything looks good, we’ll close the current custodial account and transfer the money to the former minor’s newly-opened account
If you close the account.
We’ll send a check in the former minor’s name to the custodian’s mailing address within 7-10 business days.
Set yourself up for success.
Now is the time to establish good financial habits and understand the value in saving. Compare our savings accounts for all the ways your money can continue to grow with us.