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Open an account for your Trust. At Ally Bank, we want to make setting up an account for your Trust as easy as possible. Here are some steps to get you started:
Begin with a formal trust agreement.
First, you'll need to establish your formal trust agreement.
Send us your documents.
Follow the instructions on the Account Application for Trusts (pdf) and mail in your required documents.
Make your deposit.
Here are your options:
- Mail in a check payable to the Trust
- Transfer from an existing Ally Bank account
- Wire transfer from a non-Ally Bank account
We'll be in touch with you.
A customer care associate will review your documents as quickly as possible. If we need any other information we will call you no later than 10 days after receipt of your documents.
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 convert a current Ally Bank account into an account for a Trust?Yes. Call us 24/7 at 1-877-314-2559 for more information on converting your existing Ally Bank account to a trust account.