Hey there! So, you're looking to get your hands on some cash from your Ally Bank account? Don't worry, even though Ally is an online-only bank, they offer several convenient ways to withdraw your money. Let's walk through it step-by-step.
Understanding Ally Bank's Online Nature
Before we dive into the "how-to," it's important to remember that Ally Bank operates entirely online. This means there are no physical branches you can walk into for a cash withdrawal over the counter. However, they've built a robust system to ensure you have easy access to your funds.
Step 1: Identify Your Withdrawal Needs
First things first, what kind of withdrawal do you need to make? Are you looking for a quick cash withdrawal from an ATM, do you need to transfer a larger sum to another bank, or perhaps you require a physical check? Knowing your specific need will help you choose the most efficient method.
Small Cash Amounts: Best handled via ATM.
Larger Cash Amounts (beyond ATM limits): Consider an ACH transfer to another bank where you can then withdraw.
Paying a Bill or Person: Debit card purchases, online bill pay, or checks are ideal.
Transferring to Another Account: Electronic funds transfers (ACH) or wire transfers are the way to go.
Official Check: For significant purchases like a down payment on a house, Ally can issue official checks.
Step 2: Withdrawing Cash from an ATM
This is often the most common way to get cash. Ally Bank has a fantastic ATM network that makes this process surprisingly easy.
Sub-heading: Finding a Surcharge-Free ATM
Ally Bank is part of the Allpoint® network, which boasts over 55,000 surcharge-free ATMs nationwide and even internationally. This means you won't pay a fee to withdraw money at these ATMs.
Locate an Allpoint ATM:
Ally Bank Website/App: The easiest way is to use the ATM locator on the Ally Bank website or their mobile app. Simply log in, navigate to the ATM locator, and enter your location.
Allpoint Website/App: You can also use the Allpoint Network's own website (allpointnetwork.com) or their mobile app to find a participating ATM.
Look for these retailers: Many Allpoint ATMs are conveniently located inside popular retail stores like CVS, Walgreens, Target, Kroger, Speedway, and Wawa.
Using Your Ally Bank Debit Card:
Insert your Ally Bank debit card into the ATM.
Enter your Personal Identification Number (PIN).
Select "Withdrawal" and choose the account you want to withdraw from (e.g., Checking or Savings, though remember savings accounts often have transaction limits).
Enter the desired amount.
Confirm the transaction and collect your cash and receipt.
Sub-heading: ATM Withdrawal Limits
It's important to be aware of daily ATM withdrawal limits. For Ally Bank, after 30 days of opening your account, the daily ATM withdrawal limit is typically $1,010. Keep this in mind if you need a larger amount of cash.
Sub-heading: Reimbursement for Out-of-Network ATMs
What if you can't find an Allpoint ATM? No problem! Ally Bank is very customer-friendly. They will reimburse you for up to $10 in ATM fees charged by other ATMs nationwide per statement cycle. This means you can use almost any ATM and still save on fees.
Step 3: Electronic Funds Transfers (ACH)
For moving money between your Ally Bank account and an account at another financial institution, ACH transfers are a common and usually free option.
Initiate Transfer from Ally Bank (Push Transfer):
Log in to your Ally Bank online account or mobile app.
Navigate to the "Transfers" or "Move Money" section.
Select "Transfer to an external account" or similar.
You'll need to link your external bank account first if you haven't already. This usually involves providing the external bank's routing number and your account number. Ally might perform small "trial deposits" to verify the account, which you'll need to confirm.
Enter the amount you wish to transfer and confirm the details.
Processing Time: Standard ACH transfers typically take 1-3 business days to process. Some banks offer next-day ACH, but it's not always guaranteed.
Initiate Transfer from External Bank (Pull Transfer):
You can also initiate a transfer from your other bank account to pull funds from Ally.
Log in to your external bank's online banking platform.
Look for options like "External Transfers" or "Link Accounts."
You'll need your Ally Bank routing number (124003116) and your Ally account number.
Enter the amount to pull and confirm.
Processing Time: Similar to push transfers, this typically takes 1-3 business days.
Sub-heading: ACH Transfer Limits
Ally Bank has specific limits for ACH transfers:
Daily limit: $150,000 per day.
Rolling 30-day limit: $600,000.
Note: These limits are generally quite high for everyday needs.
Step 4: Using Your Ally Bank Debit Card for Purchases and Cash Back
Your Ally Bank debit card is not just for ATMs; it's a versatile tool for spending and even getting cash.
Point-of-Sale (POS) Purchases:
Use your debit card just like any other at retailers, online stores, or for bill payments. The funds will be deducted directly from your Ally Spending Account.
Getting Cash Back at Merchants:
When making a purchase at a grocery store, pharmacy, or other retailer, you often have the option to get "cash back" at the checkout.
When asked if you want cash back, simply say "yes" and enter the desired amount. This amount is added to your purchase total and deducted from your Ally account, and you receive the cash directly from the merchant.
Convenience: This is a great way to get small amounts of cash without needing to find an ATM, and often without an extra fee.
Step 5: Official Checks (Cashier's Checks)
For larger, more secure payments where a personal check or direct transfer isn't appropriate (e.g., a down payment on a car or house), Ally Bank can issue an official check.
Requesting an Official Check:
You'll need to contact Ally Bank's customer service directly to request an official/cashier's check. Their phone number is 1-877-247-2559, and they are available 24/7.
Provide them with the payee's information, the exact amount, and the mailing address for the check.
Fee: Ally Bank typically does not charge a fee for issuing official checks.
Delivery: The check will be mailed to you or directly to the payee, which means it won't be an instant solution. Plan for mail delivery times.
Step 6: Wire Transfers
For urgent, large-value transfers that need to reach another bank quickly, a wire transfer is an option. However, be aware of the associated fees and that Ally Bank currently only offers outgoing domestic wire transfers.
Initiating a Domestic Wire Transfer:
Log in to your Ally Bank online account or mobile app.
Navigate to the wire transfer section.
You'll need detailed information about the recipient's bank, including:
Recipient's full name and address.
Recipient's bank name and address.
Recipient's account number.
Recipient bank's ABA routing number (wire routing number).
The exact amount.
Fee: Ally Bank charges a $20 fee for outgoing domestic wire transfers.
Cut-off Time: Wire transfers have strict cut-off times. For Ally, it's typically before 7 PM ET on a business day for same-day processing.
Important Note: Ally Bank discontinued outgoing international wire transfers in February 2013. If you need to send money internationally, you'll need to use an alternative service or transfer the funds to another bank that offers international wires.
Step 7: Using Online Bill Pay and Zelle®
While not direct "withdrawals," these methods allow you to pay others from your Ally Bank account without needing to handle physical cash or checks yourself.
Sub-heading: Online Bill Pay
Ally Bank offers a free online Bill Pay service. You can set up one-time or recurring payments to individuals or businesses directly from your account. This is great for paying rent, utilities, or credit card bills.
Sub-heading: Zelle®
Zelle® is integrated within the Ally Bank mobile app and online banking. It allows you to send money directly to friends, family, or others with a U.S. bank account, typically within minutes. All you need is their email address or U.S. mobile phone number.
Note: Zelle® payments are generally immediate and irreversible, so always double-check the recipient's information before sending.
Step 8: Understanding Savings Account Limitations
It's crucial to be aware of certain regulations, even though Ally Bank often reimburses fees.
Regulation D: While Regulation D, which previously limited certain withdrawals and transfers from savings and money market accounts to six per statement cycle, has been suspended indefinitely by the Federal Reserve, some banks, including Ally, may still technically apply a transaction limit (often 10 per statement cycle for Money Market accounts, and potentially for savings accounts as well).
Ally's Policy: Ally Bank states that they limit certain types of withdrawals and transfers (like online and mobile banking transfers, point-of-sale transactions) from Money Market accounts to 10 per statement cycle. While they typically don't charge a fee for exceeding this limit, they reserve the right to close your account if you consistently go over it. For their Online Savings Account, current information suggests the federal limit removal means more flexibility, but it's always wise to check the latest terms or contact them if you make frequent withdrawals from savings.
You've now got a comprehensive guide to accessing your funds from Ally Bank! Remember, Ally's customer service is available 24/7, so don't hesitate to reach out if you have any specific questions about your account or a particular transaction.
10 Related FAQ Questions
Here are 10 related FAQ questions with quick answers to help you further:
How to find a fee-free ATM for Ally Bank?
You can find a fee-free ATM by using the ATM locator on the Ally Bank website or mobile app, or by using the Allpoint Network's website or app. Ally Bank is part of the Allpoint® network, which has over 55,000 surcharge-free ATMs.
How to withdraw more than the daily ATM limit from Ally Bank?
To withdraw more than the daily ATM limit ($1,010 after 30 days of account opening), you would typically need to perform an electronic funds transfer (ACH) to an account at another bank, or request an official cashier's check from Ally Bank.
How to get a cashier's check from Ally Bank?
You can request a cashier's check from Ally Bank by calling their customer service at 1-877-247-2559. They will mail the check to you or the designated payee. Ally Bank typically does not charge a fee for this service.
How to transfer money from Ally Bank to another bank account?
You can transfer money from Ally Bank to another bank account via an Electronic Funds Transfer (ACH). Log in to your Ally account, go to the "Transfers" section, and set up a transfer to an external linked account.
How to get cash back at a store with an Ally Bank debit card?
When making a purchase at a merchant, simply choose the "debit" option and when prompted, select "cash back" and enter the desired amount. The cash will be given to you by the cashier.
How to check my Ally Bank debit card withdrawal limit?
The general daily ATM withdrawal limit for an Ally Bank debit card is $1,010 after 30 days. You can also find this information in your account documents, by logging into the mobile app, checking Ally's FAQ page, or by calling customer service.
How to send money to someone internationally from Ally Bank?
Ally Bank does not offer outgoing international wire transfers directly. You would need to transfer the money from your Ally account to another bank that offers international wire services, or use a third-party international money transfer service.
How to use Zelle with Ally Bank?
Zelle is integrated directly into the Ally Bank mobile app and online banking. Log in, navigate to the Zelle section, and you can send money to friends and family using their email address or U.S. mobile number.
How to avoid fees when withdrawing cash from Ally Bank?
To avoid fees, use an ATM within the Allpoint® network. If you use an out-of-network ATM, Ally Bank will reimburse up to $10 in ATM fees per statement cycle.
How to get a physical checkbook for my Ally Bank account?
If you have an Ally Bank Spending Account (checking account), you can order standard checks at no charge through the Ally Bank website or mobile app. They will be mailed to you.