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Why is it that spending is just so much easier than saving? Even though we know it’s something that will benefit us, saving can just seem so tedious. And when you’re trying to be smart with your finances, there can be a lot of to-dos: paying bills on time, managing retirement contributions, keeping credit cards in check, and more. Wouldn’t it be great if you just didn’t have to worry about saving, too?

Automating the deposits into your savings account is a great way to reach your savings goals without having to constantly police yourself and “pay yourself first” before your paycheck gets eaten up by other expenses.

At Ally Bank, you can set up recurring transfers into your Ally Bank Online Savings Account with just a few clicks — for no fee. Here’s how.

Between your Ally Bank accounts

If you’re moving money from one Ally Bank account to another, setting up recurring transfers is quick and easy.

  1. Go to Ally.com and log in to online banking with your username and password.
  2. Choose “Transfers” and then “Bank Accounts.”
  3. Select the account the money is coming from and the account the money is going to.
  4. Enter the amount you want to transfer.
  5. Set the frequency of recurrence.

Once you’re all set up, check back periodically to confirm that you scheduled your transfers correctly, and watch your savings balance grow. (That last part never gets old.)

Keep in mind: If you’re planning any automatic transfers out of your Money Market or Online Savings Accounts, remember that federal law limits transfers out of those accounts to no more than six per statement cycle.

Between your Ally Bank account and an account at another bank

Setting up recurring transfers from an account at another bank to your Ally Bank Online Savings Account requires a couple of additional steps for your protection, but it’s still super simple.

  1. Go to Ally.com and log in to online banking with your username and password.
  2. Choose “Transfers” and then “Bank Accounts.”
  3. Choose “Add an account at another institution.”
  4. Enter the information for the external account:
  • Account type
  • Account nickname
  • Routing number
  • Account number

Depending on whom the external account is with, you may be able to link the account instantaneously or by providing login information. Otherwise we will make small trial deposits (less than $1.00 each) into the external account within three business days. Once you verify those deposit amounts, we know you own the account and that we have the correct routing and account numbers.

After your external account information is linked to your Ally Bank account, you can set up automatic transfers.

  1. Go to Ally.com and log in to online banking and choose “Transfers” and “Bank Accounts.”
  2. Choose the account the money is coming from and the account the money is going to.
  3. Enter the amount you want to transfer.
  4. Set the frequency of recurrence.

Keep an eye on things

Once you automate your savings deposits, you can spend less time and energy on saving consistently — you really do have one less thing to do.

But don’t forget to check on your accounts from time to time to keep up with your transfers and to spot any unauthorized activity. It’s easy to stay in the know about your accounts with Ally Bank. Download the Ally Mobile app, so your account details are right at your fingertips. You can also get help with new accounts, check balances, transfer money, deposit checks, and more — 24/7 at Ally.com or at 877-247-ALLY (2559).

Conquering the savings challenge will make you feel great … now, about all of the other items on your to-do list…

Set Up Recurring Deposits