Depositing cash to an online-only bank like Ally Bank can sometimes feel like a puzzle, especially if you're used to traditional banks with physical branches. The good news is, while Ally Bank doesn't have its own physical branches for cash deposits, there are several convenient ways to get your cash into your account. This comprehensive guide will walk you through each step, ensuring your money safely reaches its destination.
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| How Can I Deposit Cash To Ally Bank |
How Can I Deposit Cash to Ally Bank? A Step-by-Step Guide
While Ally Bank is a fantastic online bank with competitive rates and excellent digital tools, it operates without physical branches. This means you can't walk into an Ally Bank location and hand over cash. However, don't fret! There are several indirect yet effective methods to get your physical cash into your digital Ally account.
Step 1: Understand Ally Bank's Cash Deposit Policy
Before diving into the "how-to," it's crucial to understand a fundamental aspect of Ally Bank: they do not directly accept cash deposits. This is a common characteristic of online-only banks. So, any method you use will involve converting your cash into a form that Ally does accept, such as a check, electronic transfer, or money order.
Key takeaway: You won't find an Ally Bank ATM or branch where you can insert cash. The process involves an intermediary.
Step 2: Choose Your Preferred Cash-to-Digital Method
Here are the most common and reliable ways to deposit cash indirectly into your Ally Bank account:
Sub-heading 2.1: The "Old School" Method: Money Order or Cashier's Check
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This is a traditional and very secure way to convert cash into a transferable document.
What you'll need:
Your cash
Your Ally Bank account number and routing number
A location that sells money orders or cashier's checks (e.g., post office, Western Union, some grocery stores, other banks).
Step-by-step for Money Order/Cashier's Check:
Locate a Vendor: Find a place near you that sells money orders or cashier's checks. Popular options include the U.S. Post Office, Walmart, convenience stores, or even your local grocery store. For cashier's checks, you'll need to go to another bank where you might have an account or where they offer this service to non-customers for a fee.
Purchase the Money Order/Cashier's Check:
For a Money Order: Tell the clerk the amount you want to convert. You'll pay the cash plus a small fee (usually $1-$2). Make sure the money order is made out to you or "Ally Bank" if the vendor allows, and include your account number in the memo. Keep the receipt!
For a Cashier's Check: Go to a traditional bank. You'll present your cash, and they will issue a check drawn on their bank's funds, made payable to you. This often incurs a higher fee (e.g., $5-$15) than a money order.
Endorse the Money Order/Cashier's Check: If the money order or cashier's check is made out to you, you'll need to endorse the back by signing your name. For Ally Bank's eCheck Deposit, it's often recommended to write "For Mobile Deposit Only" along with your signature.
Deposit using Ally eCheck Deposit℠:
Via the Ally Mobile App: This is the easiest and fastest way.
Log in to the Ally Mobile App.
Go to your account, then select "Deposit Checks."
Snap clear photos of the front and back of your endorsed money order or cashier's check.
Enter the amount and submit your deposit.
Via Ally's Online Banking (with a scanner):
Log in to your Ally online banking portal.
Navigate to "Deposits" and then "Check Deposits."
You'll need a scanner to upload images of the front and back of the endorsed check.
Follow the prompts to complete the deposit.
Keep Records: Always keep the money order stub or cashier's check receipt until the funds are fully cleared in your Ally account.
Sub-heading 2.2: The "Tech-Savvy" Method: Green Dot MoneyPak (Indirect)
While Ally Bank doesn't directly integrate with Green Dot for cash deposits via a barcode, you can use Green Dot MoneyPak as a way to convert cash to a digital form that can then be transferred. This is less direct than the options below but can be a workaround for some.
What you'll need:
Your cash
An eligible prepaid or bank debit card (not necessarily Ally, but one that can receive MoneyPak funds)
Access to MoneyPak.com
A participating Green Dot retailer (e.g., 7-Eleven, CVS, Walmart, Walgreens).
Step-by-step for Green Dot MoneyPak (as an intermediary):
Purchase a MoneyPak: Go to a participating retailer and purchase a Green Dot MoneyPak. You'll pay the cash amount you want to load plus a flat fee (typically $5.95). Each MoneyPak can usually load $20-$500.
Create a Secure Login (First Time Users): If it's your first time, go to MoneyPak.com and create a secure login. You'll need to enter the MoneyPak number from the back of the package.
Deposit Money to an Eligible Card: On MoneyPak.com, enter the number of an eligible prepaid or bank debit card where you want to deposit the funds. Important: This is where it gets indirect for Ally. Since Ally Bank debit cards may not directly support MoneyPak deposits, you might need to deposit the funds to a different eligible debit card you own (e.g., a reloadable prepaid card or a debit card from another bank).
Transfer from the Intermediary Card to Ally: Once the funds are on your intermediary card/account, you can then transfer them to your Ally Bank account via:
ACH Transfer: Link your intermediary bank account to your Ally Bank account for external transfers. This typically takes 1-3 business days.
Zelle: If your intermediary bank supports Zelle and you're within your Zelle limits, you can send the money to your Ally Bank account (if enrolled with Zelle at Ally).
Confirm Transfer: Verify the funds have arrived in your Ally account.
Sub-heading 2.3: The "Neighborly" Method: Zelle® (if receiving from someone)
While you can't deposit cash directly into Zelle, if someone owes you cash and uses a bank that supports Zelle, they can send the money directly to your Ally Bank account.
What you'll need:
A sender with a bank account that offers Zelle.
Your Ally Bank account enrolled in Zelle.
Step-by-step for receiving cash via Zelle:
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Enroll in Zelle with Ally: If you haven't already, enroll your U.S. mobile number or email address with Zelle through your Ally Bank online banking or mobile app.
Provide Your Zelle Info to Sender: Give the person who has your cash your enrolled U.S. mobile number or email address.
Sender Initiates Transfer: They will send the money to you via Zelle from their banking app.
Receive Funds: The money will typically arrive in your Ally Bank account within minutes, as long as both parties are enrolled with Zelle.
Sub-heading 2.4: The "ATM Network" Method: Allpoint+ ATMs (Limited Availability)
While most Allpoint ATMs are for withdrawals, the Allpoint+ network offers deposit-enabled ATMs. However, it's crucial to verify if your Ally Bank debit card is enabled for deposits at Allpoint+ locations. Ally's support indicates they generally don't accept cash, but the Allpoint network does mention that participating accounts can use Allpoint+ for deposits.
What you'll need:
Your Ally Bank debit card
Cash
An Allpoint+ ATM.
Step-by-step for Allpoint+ ATM (if supported):
Check for Allpoint+ Support: Contact Ally Bank directly to confirm if your specific Ally Bank debit card is enabled for cash deposits at Allpoint+ ATMs. This is a critical first step as not all online banks or their cards support this feature.
Locate an Allpoint+ ATM: Use the Allpoint ATM locator (website or mobile app) and filter for "Allpoint+" locations. These are often found in select CVS, Walgreens, and other prominent retail stores in major metropolitan areas. Look for the "Allpoint+" logo on the ATM.
Insert Your Card and Select Deposit: At the Allpoint+ ATM, insert your Ally Bank debit card and follow the on-screen prompts. If cash deposits are supported, you'll see an option to deposit.
Insert Cash: Feed your cash into the ATM's cash acceptor.
Confirm Transaction: Review the deposit amount and confirm the transaction.
Take Your Receipt: Always take your receipt as proof of deposit.
Important Note: Even if cash is accepted at an Allpoint+ ATM, it might still be processed as a third-party deposit, and the availability of funds could vary. Always confirm with Ally Bank if this is a viable and recommended method for your account.
Step 3: Verify Your Deposit and Keep Records
Regardless of the method you choose, always verify that the funds have successfully been deposited into your Ally Bank account.
Check Your Ally Account: Log in to your Ally Bank online banking or mobile app regularly to monitor your transaction history and confirm the deposit.
Keep Receipts: Retain all receipts, tracking numbers, or confirmation emails related to your cash conversion and deposit until the funds are fully available in your Ally account. This is your proof in case of any issues.
Depositing cash into an online-only bank like Ally might require an extra step compared to a traditional bank, but with these methods, it's a straightforward process. Choose the option that best suits your convenience and be sure to keep track of your transactions!
10 Related FAQ Questions
How to deposit a physical check to Ally Bank?
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You can deposit physical checks to Ally Bank using Ally eCheck Deposit℠ via their mobile app (by taking photos of the check) or online banking (using a scanner). You can also mail checks to Ally Bank.
How to transfer money from another bank to Ally Bank?
You can transfer money from another bank to Ally Bank using an external ACH transfer. Link your external bank account to your Ally Bank account by providing the routing and account numbers. You can initiate the transfer from either your Ally account or the external bank's platform.
How to receive a wire transfer to Ally Bank?
To receive a wire transfer, provide the sender with Ally Bank's routing number (124003116), your Ally Bank account number, and your name as it appears on your Ally Bank account. For international wires, Ally uses JP Morgan Chase Bank, N.A. as an intermediary, so you'll need additional details like their routing number and SWIFT code, along with your Ally account information for further credit.
How to use Zelle with Ally Bank?
You can use Zelle with Ally Bank by enrolling your U.S. mobile number or email address through your Ally Bank online banking or mobile app. Once enrolled, you can send and receive money to and from people you know and trust who also use Zelle.
How to find an ATM for Ally Bank?
Ally Bank is part of the Allpoint ATM network, which offers over 55,000 surcharge-free ATMs worldwide. You can find an Allpoint ATM using the ATM locator tool on Ally's website or mobile app. Remember, these are primarily for cash withdrawals, not typically cash deposits.
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How to order deposit slips for Ally Bank?
You can order deposit slips for Ally Bank through your online banking portal or the Ally Mobile App. Look for an option to "Order Deposit Slips & Envelopes" within your account or deposit sections.
How to set up direct deposit for Ally Bank?
To set up direct deposit, provide your employer or benefits provider with Ally Bank's routing number (124003116) and your Ally Bank account number. Most employers will have a direct deposit form you'll need to fill out.
How to check my Ally Bank account balance?
You can check your Ally Bank account balance by logging into your Ally Bank online banking portal on a computer or by using the Ally Mobile App on your smartphone or tablet.
How to contact Ally Bank customer service?
You can contact Ally Bank customer service by phone (1-877-247-2559, available 24/7), through secure messages within your online banking account, or via their social media channels.
How to avoid fees when depositing to Ally Bank?
To avoid fees, utilize free methods like Ally eCheck Deposit℠ for checks, ACH transfers from linked external bank accounts, or Zelle for person-to-person transfers. While MoneyPak has a fee, and wire transfers incur a fee if you're sending one, receiving wires from U.S. banks is typically free from Ally's side.
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