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Eliminating overdraft fees, read all about it.

Updated as of 06/04/2021

The response to our recent announcement about eliminating overdraft fees once and for all has been incredible. Doing right by you has always been our top priority, even when it means challenging the status quo. 

Get the facts.

We’ll provide you with more updates as they come in, always right here.

We’re saying ‘so long’ to overdraft fees.

We reimbursed overdraft fees in early 2020, as a way to help during the pandemic. It was the right thing to do then - and still is. We decided it’s time to do away with overdraft fees for good. For now we’ll be reimbursing them, but in a few weeks, they’ll be removed entirely.  What our leaders say about this decision

We’re scrubbing all traces of overdraft fees.

You may notice leftover “overdraft fee” information throughout or other communications. We’re working on this, and plans are in motion to phase it out entirely.

Applies to all Ally Bank accounts and there’s no catch.

We won’t charge overdraft fees or fees for insufficient funds, ever. We’re not going to increase any fees we do have or add new fees to offset this change. No requirements; no restrictions; no, really.

Overdrafts happen, we know that won’t change.

If you do overdraft your account, the only difference is that we won’t charge you a fee. We also provide a free (and completely optional) overdraft transfer service. We’ll move money from your linked account, in increments of $100, should you overdraft.  Keep in mind, if you link a savings account for overdraft transfer service, those transfers count toward the limit of 6 withdrawals per statement cycle, but we’re continuing to reimburse excessive transaction fees as well.