When you want to plan for the future | We're here to help
 

Thoughtful planning and the right type of accounts can help ensure your family’s financial security for years to come. When you open a checking, savings or CD in the name of a Trust, you’ll get the tools you need to help grow your savings now, and an account designed to make access easier for your Trustees later.

Get Started

Find the right type of account for you.

Step 1

Establish a formal Trust.

If you haven’t already, speak with a financial professional or estate attorney to go over your options. They’ll guide you through the different types of Trusts and help you find the one that best suits your needs.

Step 2

Gather your documents.

We’ve made setting up an account in the name of a Trust as simple as possible. You can easily apply online, and we’ll have you upload pages from the Trust agreement along the way to complete the application.

 

We’ll need copies of:

  • The pages describing the Trust, including the formal name of the Trust, Grantors and Trustees
  • The notarized signature page with Grantor and Trustee signatures – in some states, there may be a separate page completed by the notary
  • Any amendments to the original Trust
  • Pages with Trustee powers and provisions related to incapacity or death of a Trustee
  • Page listing the beneficiaries who will receive the funds if the Grantor of the Trust passes away
     

 

Also include the following documents if anyone named as a Trustee or beneficiary is deceased:
 

  • A copy of the death certificate
  • For Testamentary Trusts, provide the cover page of the Will, any portions describing the Trust, signature page and notary page

     

Other ways to send your documents

Print and complete the Account Application for Trusts (PDF) and mail the required documents.

Step 3

Apply for an account online.

After you select a product in our online application, make sure to indicate it’s for a Trust beforeyou move on to the next steps. Then, you’ll need to provide Trust agreement, Grantor andTrustee information.

A customer care associate will review your documents and let you know if we need more information. Once your account is open, you’ll receive a Welcome Kit in the mail and can fund your account.

FAQS

What’s an account for a Trust Agreement?

It's a deposit account that can be opened by a Trustee for the benefit of someone else (beneficiary). These accounts:

 

  • Protect assets during and after the Grantor’s life
  • Must have a specific purpose, a designated beneficiary and specific duties for the Trustee as designated by the Grantor
  • Require a written Trust (with a Social Security or Tax ID number), which must be set up outside of Ally, and typically requires the services of an attorney
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.

Can I add another account to my existing Trust?

Yes. You can add another account within the online application or by calling us at 1-877-247-2559. You’ll only need to provide the name of your Trust, identification number and contact information. We won’t need any additional documentation from you.

Can I convert my existing Ally Bank account into an account for a Trust?

Yes. You can add another account within the online application or by calling us at 1-877-247-2559. You’ll only need to provide the name of your Trust, identification number and contact information. We won’t need any additional documentation from you.