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No overdraft fees. More overdraft coverage.

Use Overdraft Transfer Service and CoverDraftSM service for twice the protection.

We eliminated overdraft fees from all our accounts.

In June 2021, we said “so long” to overdraft fees, once and for all. We’ll never add fees to offset this change. No requirement. No restrictions. No, really.

A double line of defense against unexpected overspending.

Use one, or both together for even more coverage.

Overdraft Transfer Service

Link your Ally Bank Online Savings or Money Market Account to your Interest Checking Account, and we’ll move money over in one transfer, rounded up to the nearest $100, should you accidentally overdraft. Keep in mind, any transfer from a savings account counts toward the limit of 6 withdrawals per statement cycle, but we reimburse excessive transaction fees.

CoverDraftSM Service

Your fee-free safety net. If you accidentally overspend, CoverDraft provides up to $250 in temporary relief for common transactions.

How it works:

  • In most cases, you qualify for CoverDraft 30 days after depositing $100 or more into your checking account

  • Basic coverage starts at up to $100, but if you set up and receive a qualifying direct deposit of at least $250 for 2 months in a row, you can up your CoverDraft coverage to $250 (you’ll need at least one direct deposit every 45 days to maintain expanded coverage)

  • Should you overspend, your next deposit automatically applies to the negative balance

  • You can turn off CoverDraft or adjust your coverage amount whenever you’d like, as long as you don’t have a negative balance

  • We’ll give you 14 days to bring your balance out of the negative, and may restrict withdrawals from your account (if it’s not back in the black) after that

Friendly reminder:

CoverDraft is a service, not a line of credit or a guarantee. If your purchase isn't covered for any reason (let’s say the transaction exceeds your CoverDraft limit, for example), it will be declined—but we'll never charge you an overdraft fee.

Better together.

When using both, we'll first move money from your linked account using Overdraft Transfer Service. If that's not enough, the CoverDraft service kicks in with up to $250 in additional coverage.

Learn more about banking with us