Transfers FAQs
FAQs
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Standard and expedited transfers between your Ally Bank and Ally Invest accounts are free, as are transfers between these accounts and accounts at other institutions. Keep in mind, a $30 returned Automated Clearing House (ACH) fee may apply for failed transactions.
Ally Invest charges a $50 transfer fee for each partial or full Automated Customer Account Transfer Service (ACATS) transfer of securities or cash from any Ally Invest account to another firm. Additionally, we charge a $25 closing fee when an Ally Invest Individual Retirement Account (IRA) is closed upon full distribution of IRA funds. When an Ally Invest IRA is closed due to a full transfer to another firm, a total of $75 is charged ($50 transfer fee, plus $25 closing fee).
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Absolutely. You can check it in the Status Tracker . We’ll also email you updates on the wire’s progress.
Heads up: We review and verify all wires before they’re delivered. Keep your phone handy in case we need to give you a call.
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Either account holder can view pending transfers, but only the person who created the transfer can change or cancel it online. If you need to make a change, please check with account holder who created the transfer.
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Once you log in to online banking, select Transfers, so you can review, edit or cancel your scheduled transfers. Keep in mind, transfers between your Ally Bank accounts are immediate, so they can't be canceled or changed.
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When you set up an account at another institution for transfers, we make small trial deposits (less than $1.00 each) into the account and ask you to verify the amount of each deposit. This lets us know you own the account and that we have the correct routing and account numbers.
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Once you log in to online banking, choose Transfers. Select the account you want to transfer money from and the account you want the money transferred to, enter the amount you want to transfer, and set the frequency of recurrence.
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No, we don't charge a fee to transfer money from or to your accounts at another institution. You should check with your other bank to see if they charge a fee.
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You should call us immediately at 1-877-247-2559 . Keep in mind that there’s no guarantee we’ll be able to stop the transaction once it’s submitted.
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If you’re receiving a wire transfer from a U.S. bank, provide your recipient with this information:
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Receiving Bank: Ally Bank
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ABA/Routing Number: 124003116
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Address: 200 West Civic Center Drive, Sandy, UT 84070
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Beneficiary Account Number: Your Ally Bank Account number
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Beneficiary Name: Name as it appears on your Ally Bank Account
To receive a wire transfer from a non-U.S. bank:
We use our designated receiving bank, JP Morgan Chase Bank, N.A. to process incoming international wires.
Provide this info to your recipient:
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Receiving Bank: JP Morgan Chase Bank, N.A.
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ABA/Routing Number: 021000021
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Address: 1 Chase Manhattan PLZ, New York, NY 10005
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SWIFT Code or Bank Identification Code: CHASUS33
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Beneficiary Account Number: 802904391
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Beneficiary Name: List 'Ally Bank' since the wire is being processed by JP Morgan Chase Bank, N.A.
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Further Credit: Your Ally Bank Account Number and your name as it appears on your Ally Bank account.
Keep in mind that we don't charge a fee to receive a wire transfer to your Ally Bank account, however, an intermediary processing bank may charge a fee.
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You can make transfers to and from our:
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Savings Account
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Money Market Account
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Spending Account
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CMG Accounts
Note: Money cannot be transferred to or from a CD once you fund it.
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We charge a $20 fee when you wire money from your Ally Bank account to another bank. We’ll refund this fee if you’re wiring money from your Ally Bank account to your Ally Invest account.
We don’t charge a fee to receive a wire, but keep in mind that the bank sending the wire or an intermediary bank may charge you a fee on their end.
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The quickest and easiest way to submit a wire transfer request is by using our online form , or by logging in to our mobile app, selecting Menu, then Wire Money, under Transfer and Pay. You can also print and complete an Ally Bank Domestic Wire Transfer Form (PDF) and fax it to us at 1-866-608-2635 .
There’s a $20 fee for each outgoing domestic wire transfer. We’ll refund this fee within two business days if you’re wiring money from your Ally Bank account to your Ally Invest account.
Keep in mind: wire transfers from your Savings Account will count as one of your ten allowed withdrawals per statement cycle.
Make sure everything’s correct before sending
To help your wire arrive accurately and as quickly as possible, it’s important to make sure the account number of the beneficiary and the bank routing number of the beneficiary’s bank are accurate.
Submitted wire requests can’t be modified.
Timing your wire transfer
If you want same-day delivery, send your wire as early as possible. We review and verify all wires before they’re delivered, so keep your phone handy in case we need to give you a call. We have to review wires before 3 pm ET, and verified wires are sent by 6 pm ET. Wires not fully verified by us will be reviewed the next business day. We process wires in the order they’re received, and we don’t process wires on weekends or bank holidays.
You can track your wire’s delivery using our Status Tracker .
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Trial deposits can take up to 3 business days to show up in your records for your accounts at another institution.
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Absolutely. You can schedule a wire up to 30 days in advance.
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To wire money from an IRA, follow these three steps:
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Fill out an Ally Bank Domestic Wire Transfer Form (PDF)
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Fill out a Traditional or Roth Distribution Request Form (PDF)
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Send both forms to us in a Secure Message or fax them to us at 1-866-608-2635
Heads up: We don’t send international wire transfers.
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You’ll need to give us a call at 1-877-247-2559 .
Keep in mind that early CD withdrawals could result in additional fees and penalties, and we don’t allow outgoing international wire transfers.
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You’ll need your recipient’s name, routing number and account number.
If the instructions you received from your recipient mention an intermediary or receiving bank and include a “For further credit to” section, you’ll select More than one bank when filling out your wire request. You’ll need to include the intermediary or receiving bank name and routing number and the beneficiary bank name and account number when making your wire request.
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In most cases, no.
But to protect you from fraud, we limit wire transfers to $25,000 for 90 days after you open your first Ally Bank account. You can request an exception if you need to wire more.
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Sometimes a receiving bank will use another bank to deliver a wire. In other words, your wire will go to that bank and that bank will route it to your recipient.
If your recipient uses an intermediary bank, the instructions you receive from your recipient will normally reference a “For further credit to” section and include an intermediary bank name and routing number.
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Using our website or app:
- Log in to online banking
- Choose Transfers and then Bank Transfers, then select + Link other accounts
We’ll ask for this information for your other account:
- Routing number
- Account number
- Account type
We verify the ownership of your account before you can use it for transfers. Call us at 1-877-247-2559 if you need any help. We’re here 24/7.
If you’re transferring money between an Ally Invest account and an account at another institution, log in at ally.com, go to Transfers and then select Invest Transfers.