You've chosen wisely! Ally Bank offers a fantastic online banking experience, and depositing money is surprisingly simple, even without physical branches. Let's break down exactly how you can get your funds into your Ally account, step by step.
Ready to bolster your Ally Bank account? Let's dive in!
Depositing money into your Ally Bank account is a straightforward process, designed for convenience. Whether you prefer the digital approach or traditional methods, Ally offers several ways to get your funds where they need to be. We'll walk you through each option in detail.
Step 1: Identify Your Deposit Needs – What Kind of Funds Are You Depositing?
Before we begin, let's figure out what you're depositing. This will help us choose the best method for you.
Checks (Personal, Payroll, etc.)? This is the most common type of deposit, and Ally makes it incredibly easy with their mobile app.
Cash? Since Ally is an online-only bank, direct cash deposits are not possible in the same way as a traditional brick-and-mortar bank. We'll cover alternatives.
Transfers from another bank? This is a very popular and efficient way to move funds.
Direct Deposit from your employer? Ideal for regular income.
Wire Transfer? For larger, often time-sensitive transfers.
Once you know what you're depositing, proceed to the relevant step below!
Step 2: Depositing Checks – The Ally eCheck Deposit℠ Advantage
This is by far the most popular and convenient method for depositing checks into your Ally Bank account. You can do it right from your smartphone or by scanning.
Sub-heading 2.1: Using the Ally Mobile App (Recommended for Checks)
Download the Ally Mobile App: If you haven't already, download the free Ally Mobile App from your device's app store (available for iOS and Android).
Log In Securely: Open the app and log in using your Ally Bank username and password. You might need to go through a two-factor authentication process for added security.
Navigate to Deposits: Once logged in, select the account you wish to deposit into. Then, look for and tap the "Deposit Checks" option.
Prepare Your Check:
Endorse Your Check: On the back of your check, sign your name exactly as it appears on the "Pay to the Order of" line.
Write "For Mobile Deposit Only": Crucially, below your signature, write "For Mobile Deposit Only" and your Ally account number. Without this endorsement, your deposit might be rejected.
Lighting and Background: Find a well-lit area and place your check on a dark, non-reflective background. Ensure there are no shadows.
Capture Images: The app will prompt you to take pictures of both the front and back of your endorsed check.
Tips for Good Images: Make sure all four corners of the check are visible, and all information (routing number, account number, payee name, amount) is clear and readable.
Enter the Amount: Carefully enter the exact amount of the check into the app. Double-check for accuracy!
Submit Your Deposit: Review all the details and then tap "Submit."
Confirmation: You'll typically receive an email confirmation within one business day regarding your deposit status.
Important Note on Mobile Deposit Limits: You can generally deposit up to $50,000 in a single business day and up to $250,000 every 30 calendar days using Ally eCheck Deposit. If your check exceeds these limits, you'll need to use the mail-in option.
Sub-heading 2.2: Depositing Checks Online (Using a Scanner)
If you prefer to use your computer and have a scanner:
Log In to Online Banking: Go to ally.com and log in to your account.
Access Check Deposits: Navigate to the "Deposits" section, then choose "Check Deposits" and select "Make a Deposit."
Prepare Your Check: Similar to mobile deposit, endorse your check with your signature and "For Mobile Deposit Only" plus your account number.
Scan Images: Scan both the front and back of your endorsed check.
Image Specifications: Ensure your scanned images are detached from the checkbook, all four corners are visible, saved as a JPG (not PDF), cannot exceed 1 MB, and have a minimum resolution of 200 DPI. Convert files to color or grayscale.
Upload and Enter Details: Upload the scanned images and carefully enter the check amount.
Submit: Review and submit your deposit.
Step 3: Depositing Cash – Your Alternatives with an Online Bank
Since Ally Bank is entirely online, you cannot directly deposit physical cash at an ATM or branch. However, you have a few viable options:
Convert to a Money Order or Cashier's Check:
Take your cash to a local post office, grocery store, or another bank where you have an account.
Purchase a money order or cashier's check made payable to yourself.
Then, use the Ally eCheck Deposit℠ method (Step 2) to deposit this check into your Ally account via the mobile app or online scanner.
Deposit into Another Bank Account, Then Transfer:
If you have an account with a traditional bank that accepts cash deposits, deposit the cash there first.
Once the funds are available in that account, initiate an electronic transfer (ACH transfer) from that bank to your Ally Bank account (see Step 4). This is often the most efficient way to handle cash.
Allpoint+ ATMs (Limited Availability for Deposits): While Ally Bank offers access to a vast network of surcharge-free Allpoint ATMs for withdrawals, only select Allpoint+ locations accept cash deposits, and only if your card provider participates. It's best to check with Ally directly or use their ATM locator to see if this is an option for you, as it's not a universal feature for all Allpoint ATMs.
Step 4: Transferring Money from Another Bank – Seamless Digital Movement
This is a very common and convenient way to fund your Ally Bank account.
Sub-heading 4.1: Initiating a Transfer from Ally Bank (Pull)
Log In: Access your Ally Bank account online or via the mobile app.
Navigate to Transfers: Look for a "Transfers" or "Transfer & Pay" section.
Add External Account: If you haven't already, you'll need to link your external bank account. This usually involves:
Providing the external bank's routing number and your account number.
Ally will often make small "micro-deposits" (e.g., $0.05 and $0.12) into your external account, which you'll need to verify within Ally's platform to confirm ownership. This process can take 1-3 business days.
Initiate Transfer: Once linked, select "Transfer Money."
Choose your external account as the "From" account and your Ally account as the "To" account.
Enter the amount you wish to transfer.
Select the transfer date (often immediate or a future date).
Confirm: Review the details and confirm the transfer.
Processing Time: Transfers initiated from Ally (pulling funds from another bank) typically take 1-3 business days to complete, though funds may be available sooner.
Sub-heading 4.2: Initiating a Transfer from Your Other Bank (Push)
You can also initiate the transfer from your other bank's online banking platform.
Log In: Access your other bank's online banking.
Navigate to Transfers: Find the "Transfer" or "External Transfers" section.
Add External Account (Ally Bank): You'll need to add your Ally Bank account as an external recipient. You'll need:
Ally Bank's Routing Number: 124003116
Your specific Ally Bank Account Number
Account type (checking or savings)
Initiate Transfer: Choose your account at the other bank as the "From" account and your Ally Bank account as the "To" account.
Enter Amount and Submit: Input the amount and confirm the transfer.
Processing Time: Transfers pushed from another bank to Ally can sometimes be faster, with funds often arriving within 1-2 business days.
Step 5: Setting Up Direct Deposit – Your Income, Automatically
This is ideal for regular income like paychecks, government benefits, or retirement payments.
Obtain Ally's Direct Deposit Information: You'll need:
Ally Bank's Routing Number: 124003116
Your specific Ally Bank Account Number (you can find this by logging into your Ally account online or on the app).
Download Ally's Pre-filled Direct Deposit Form (Optional but Helpful):
Log in to ally.com, go to their direct deposit page, and download a pre-filled form with your account information. This saves you time and ensures accuracy.
Provide Information to Your Employer/Payer:
Online Setup: Many employers or payment providers offer an online portal where you can set up direct deposit by entering your bank's routing and account numbers directly.
Paper Form: If an online option isn't available, give your employer's payroll department the pre-filled Ally direct deposit form, or fill out a blank one with the necessary Ally details.
Confirmation: It may take 1-2 pay cycles for your new direct deposit to take effect. Keep an eye on your Ally account for the first deposit.
Early Direct Deposit: Ally Bank often offers early direct deposit, meaning you could receive your paycheck up to two days sooner than your scheduled payday!
Step 6: Sending a Wire Transfer – For Urgent or Large Deposits
Wire transfers are generally used for larger sums of money that need to arrive quickly.
Gather Necessary Information from Ally:
Ally Bank's Name: Ally Bank
Ally Bank's Routing Number (ABA): 124003116
Ally Bank's Address: (You may not need this for all wire transfers, but it's good to have) 1100 Virginia Dr., Suite 150, Fort Washington, PA 19034 (This might be a general operations address; confirm with Ally if your sending institution requires a specific wire transfer address).
Your Ally Bank Account Number
Your Full Name as it appears on your Ally account
Your Ally Bank Account Type (e.g., Interest Checking, Online Savings)
Initiate Wire Transfer from Your Sending Bank:
Contact your sending bank (the bank from which you want to send the wire).
Provide them with all the Ally Bank information you gathered above.
Be aware of fees for outgoing wire transfers from the sending bank. Ally Bank does not charge a fee for incoming domestic wire transfers.
Confirmation: Funds from a domestic wire transfer usually arrive within the same business day if initiated before the sending bank's cutoff time.
International Wires: As of the last available information, Ally Bank does not offer outgoing international wire transfers. If you need to receive an international wire, the sending institution will need Ally's SWIFT/BIC code (if applicable for incoming international wires) and the routing/account numbers. It's best to confirm with Ally Bank directly for incoming international wire instructions, as this can vary.
Step 7: Depositing by Mail – The Traditional Route
While less common now, you can still mail a check to Ally Bank.
Endorse Your Check: On the back of your check, sign your name and write "For Deposit Only" along with your Ally Bank account number.
Address the Envelope:
Ally Bank
P.O. Box 13625
Philadelphia, PA 19101
Include a Deposit Slip (Optional but Recommended): You can order deposit slips from Ally Bank online or by calling them. Including one ensures faster processing.
Mail Your Check: Send it via reliable postal service.
Important Considerations: This method is slower than digital options. There are no dollar limits for checks deposited by mail. Do not send cash through the mail.
Step 8: Understanding Funds Availability
After you deposit, you'll naturally wonder when you can access your money.
eCheck Deposit (Mobile/Online): Generally, the first $300 of your deposit will be available the next business day if deposited before 7 PM ET on a business day. The remainder (up to $25,000) will typically be available on the second business day. Amounts over $25,000 may take up to the fifth business day.
ACH Transfers: Funds from incoming ACH transfers (from another bank) are usually available within 1-3 business days. Sometimes, if you "push" the funds from your external bank, they may be available sooner.
Direct Deposit: Funds are typically available on your scheduled payday, or even up to two days early with Ally's early direct deposit feature.
Wire Transfers: Domestic wire transfers are usually available on the same business day if processed before the cutoff time.
Mailed Checks: Funds from mailed checks can take longer to process due to postal delivery times and bank processing, usually several business days after Ally receives the check.
Step 9: Monitor Your Deposit
Ally Bank provides excellent tools to track your deposits:
Online Banking: Log in to ally.com, select "Deposits," and then go to "Activity" to view your eCheck Deposit activity.
Mobile App: Log in to the app, choose your account, and tap "View Scheduled Activity" for in-process deposits, or "History" and select "Deposits" for past activity.
By following these steps, you'll find depositing money into your Ally Bank account a convenient and secure experience. Enjoy your online banking journey!
Frequently Asked Questions (FAQs) - How to Deposit into Ally Bank
Here are 10 common questions related to depositing funds into Ally Bank, with quick answers:
How to deposit cash into Ally Bank?
You cannot directly deposit cash at Ally Bank. The best methods are to convert cash into a money order or cashier's check and deposit it via mobile/online, or deposit cash at another traditional bank and then transfer the funds to Ally.
How to use Ally eCheck Deposit℠?
Log into the Ally Mobile App, select your account, tap "Deposit Checks," take clear photos of the front and back of your endorsed check (with "For Mobile Deposit Only" and your account number written on the back), enter the amount, and submit.
How to set up direct deposit with Ally Bank?
Provide your employer or payer with Ally Bank's routing number (124003116) and your specific Ally Bank account number. You can also download a pre-filled direct deposit form from Ally's website.
How to transfer money to Ally Bank from another bank?
You can initiate a transfer from within your Ally Bank online account (pulling funds from the other bank) or from your other bank's online platform (pushing funds to Ally Bank). Both require linking the external account using routing and account numbers.
How to find Ally Bank's routing number for deposits?
Ally Bank's routing number for deposits is 124003116. You can also find it by logging into your Ally account online or on the mobile app.
How to mail a check deposit to Ally Bank?
Endorse your check with your signature, "For Deposit Only," and your Ally account number. Mail it to: Ally Bank, P.O. Box 13625, Philadelphia, PA 19101. Including a deposit slip is recommended.
How to check the status of my Ally Bank deposit?
Log in to Ally's online banking (go to "Deposits" then "Activity") or the mobile app (tap "View Scheduled Activity" or "History" then "Deposits").
How to handle large check deposits with Ally Bank?
For checks exceeding the mobile deposit limits ($50,000 daily, $250,000 every 30 days), you will need to mail the check to Ally Bank. There are no dollar limits for mailed checks.
How to get faster access to deposited funds with Ally Bank?
Direct deposit typically offers the fastest access, including potential early access. Wire transfers are also very fast, usually same-day. ACH transfers and mobile check deposits have varying availability times.
How to resolve issues with an Ally Bank deposit?
If you encounter any issues or have questions about a deposit, contact Ally Bank's customer service directly via phone (available 24/7 at 1-877-247-2559) or through their secure online chat or messaging system within your account.
