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Eliminating overdraft fees, read all about it.

Updated as of 07/27/2021

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. Now, they’re gone for good.  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 don’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 have an overdraft on your account, the only difference is that we don’t charge you a fee. Keep in mind, if a check or ACH transaction is returned to a merchant or to your account at another financial institution, they may charge you a fee for the returned transaction.

We also provide a free (and completely optional) overdraft transfer service.

We’ll move money from your linked savings or money market account, in increments of $100, should you overdraft.  Keep in mind, if you link an 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.