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Opening an Account FAQs

  • How do I find current rate information?

    Visit our rates page or select the Rates tab on any of our product pages.

  • How do I open an Ally bank account?

    There are three ways:

    • Online: Submit an application online at allybank.com
    • Phone: Call us at 1-877-247-ALLY (2559)
    • Mail: Download the application that's right for you and mail it to the address on the application

    Single/Joint Application (PDF)
    Custodial Application (PDF)
    Trust Application (PDF)
    Traditional-SEP IRA Application (PDF)
    Roth IRA Application (PDF)

  • How do I fund my new account?

    There are four ways to fund your new account:

    1. Online funds transfer: If you are an existing customer,  log in to your Ally Bank account. If you've already set up your non-Ally account for funding, go to Transfers and select Ally to non-Ally Accounts.

    To add a new non-Ally bank or brokerage account, go to Transfers> Ally to non-Ally Accounts > Manage Accounts tab. We'll start the process for making your online funds transfer immediately, but it will take 3 business days to complete.

    If you're a new customer and plan to open an account, setting up a new non-Ally account for online funds transfer is easy.

    When you open your account, you get to choose whether you want to mail your funding check to us or send it online. If you choose to transfer the money electronically, you'll set up your non-Ally account at this time. When you make this choice, a panel opens and asks for the amount of the transfer and your external bank account and routing numbers. (We show you an image of a check to help you quickly know which numbers to enter.) You'll then be asked whether you want to make transfers from this account in the future. Say ''yes,'' and we'll save this account for you to use again in the future. Before you can make transfers with a non-Ally account, we'll need to verify ownership of that account. Once verification is complete, your non-Ally account will be ready to use. If you need us at any time along the way, we're here to help at 1-877-247-ALLY (2559).

    2. Scan your deposit - Ally eCheck Deposit: All you need to scan your check from your home or office is a scanner and computer with an internet connection.

    3. Wire transfer: If you would like to transfer funds from a non-Ally account call us at 1-877-247-ALLY (2559). We'll help you with the information you need to give to the other financial institution.

    4. Mail your deposit: You can also fund your account with a paper check — sorry, we do not accept cash. Make sure the check is endorsed and made payable to you. You should also write "Deposit only" along with your account number on the back. Be sure to seal the envelope properly and mail it to us at:

    Ally Bank

    P.O. Box 13625

    Philadelphia, PA 19101-3625

  • What is the minimum deposit for opening an account?

    It's always $0 to open. There are also no monthly service fees.

  • When will I start earning interest?

    No later than the business day we receive your opening deposit.

  • Can I set up subaccounts at Ally?

    Even though Ally doesn't offer subaccounts, it's easy to open multiple accounts to organize your savings goals. When you create separate accounts you can give them nicknames like 'New Car' or 'Hawaii Vacation'. That way every time you log in you'll see how close you are to meeting your goal.

    Just follow a few simple steps to get started.

    • Open a new account for each savings goal
    • Nickname the accounts to label your savings
    • Set up recurring transfers or add to your savings when you want to
    • Manage all your Ally accounts in one place with online banking

  • Can I use my new Ally account immediately?

    Yes. Once you've opened and funded an account with us, you're good to go.

    To get started with Online and Mobile Banking, you can either create a username and password online when you first open your account, or give us a call at 1-877-247-ALLY (2559) and we’ll help you set it up.

  • What's a signature card?

    It's a card you sign when you open an account at any bank, including Ally. It identifies you as the owner of the account and allows your bank to conduct everyday banking business for you. Federal law requires banks to verify the identity of anyone who opens an account and to keep that information on file. A signature card helps fulfill these requirements, so we keep one signature card on file for each customer.

  • Do you need a signature card for each account I have with you?

    We only need one signature card for each customer no matter how many accounts the customer has with us.

  • What if I'm a joint account owner?

    Federal law requires that we have a signature card for each authorized signer of an account.

  • What happens if you don't have a signature card for me?

    If for any reason we don't have a signature card for you, we're required by federal law to withhold taxes on the interest earned on each of your accounts. You have 60 days to sign your card before we start withholding taxes (backup withholding), and we cannot stop withholding until we have a card on file for you. We want to help, so we send out regular reminders letting you know your 60 days are almost up and that we don't have a card on file for you.

  • Is a signature card good for life?

    Yes, for the life of the account.

  • Why should I give Ally Bank my consent to do business electronically?

    To access your accounts online, we require your consent to send and receive your account information electronically.

    Once you provide your consent you can bank with Ally online

    • Manage your accounts with free online banking
    • Make deposits from home using Ally eCheck Deposit℠
    • Pay your bills online with free online Bill Pay
    • Transfer money anytime, anywhere with Popmoney® (pay other people online)
    • Access Mobile Banking
    • Get free Account Alerts and Notifications

    If you provide your consent and decide to withdraw it later, you can call us any time to do so, at no charge. If you choose to withdraw consent, you will lose access to online banking services.

  • How do I return to my saved online application?

    1. Select Open an Account on the ally.com homepage
    2. On the Open an Account page, select I've already started an application
    3. Enter your Application ID and Application password that was emailed to you

    If you're having problems, please call us at 1-877-247-ALLY (2559).

  • Why does Ally use credit information while verifying my application?

    We want to make sure you and your accounts are safe. Like most banks, we look at your credit information to:

    • Verify your identity
    • Protect you from online fraud
    • Comply with federal regulations

    Your credit score will never be affected—and you’ll be able to rest easy knowing you’re safe and secure on Ally.com.