You're looking to deposit money into your Ally Bank account? That's a smart move! Ally Bank is known for its competitive rates and user-friendly online experience, but since it's an online-only bank, the deposit process might be a little different from what you're used to with traditional brick-and-mortar banks. Don't worry, though! It's actually quite simple and offers several convenient options.
This comprehensive guide will walk you through every method available to deposit money into your Ally Bank account, step by step, ensuring you understand each process thoroughly. Let's get started!
Your Comprehensive Guide to Depositing Money in Ally Bank
Depositing money into your Ally Bank account is designed to be as seamless as possible, even without physical branches. Whether you're looking to deposit a physical check, set up regular payments, or transfer funds electronically, Ally has you covered.
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| How To Deposit Money In Ally Bank Account |
Step 1: Identify Your Deposit Type
Before we dive into the "how-to," the first crucial step is to understand what kind of money you're looking to deposit. Are you depositing:
A physical check? (e.g., a paycheck, a refund check, a birthday check)
Cash?
Funds from another bank account?
Your paycheck directly?
Money from a friend or family member?
Your answer to this question will determine the best and most efficient method for your deposit.
Step 2: Depositing Checks – The Easiest Way
For most people, depositing a check is the most common need. Ally Bank offers fantastic options for this.
Sub-heading 2.1: Mobile Check Deposit (Ally eCheck Deposit℠ via the Mobile App)
This is by far the most popular and convenient way to deposit checks with Ally. All you need is your smartphone!
Preparation is Key:
Endorse Your Check: Crucially, before taking any photos, you must properly endorse the back of your check. This means signing your name and writing "For Mobile Deposit Only" (or "For Ally Mobile Deposit Only") and your Ally Bank account number below your signature.
Find a Good Spot: Choose a well-lit area with a dark, non-reflective background. Avoid busy patterns or glossy surfaces. Ensure there are no shadows on the check.
Flat and Clear: Make sure the check is completely flat and all four corners are visible.
Open the Ally Mobile App:
Log in to your Ally Mobile App. If you don't have it, download it from your device's app store (available for iOS and Android).
Navigate to Deposits:
Once logged in, select the account you wish to deposit into (e.g., Spending Account, Online Savings Account, Money Market Account).
Tap on "Deposit Checks" or a similar option.
Capture Images of Your Check:
The app will guide you to take a picture of the front of your endorsed check. Make sure the entire check fits within the guidelines on your screen.
Then, you'll be prompted to take a picture of the back of your endorsed check.
Tip: If your phone struggles with focus, try tapping the screen or moving the camera slightly closer/further away to re-focus.
Enter Deposit Details:
After capturing the images, you'll be asked to enter the exact amount of the check. Double-check this to ensure accuracy.
Review the details to make sure everything is correct.
Submit Your Deposit:
Tap "Submit" or "Deposit". You'll usually receive a confirmation message in the app.
What happens next? Ally will typically send you an email within one business day with your deposit status.
What to do with the physical check: Keep your physical check in a safe place for a few days after the deposit clears. While not always necessary, it's good practice in case there are any issues. After the funds are fully available, you can securely shred the check.
Important Limits: Ally eCheck Deposit allows deposits up to $50,000 in a single business day and up to $250,000 every 30 calendar days.
QuickTip: Scan for summary-style sentences.
Sub-heading 2.2: Online Check Deposit (Via Desktop/Laptop)
If you prefer using a computer or have scanned images of your check, you can also deposit checks through the Ally Bank website.
Prepare Your Scanned Images:
As with mobile deposit, endorse your check with your signature, "For Mobile Deposit Only", and your Ally account number.
Scan both the front and back of the endorsed check.
Image Requirements: Ensure all four corners are visible, the file is saved as a JPG (no PDFs), the file size doesn't exceed 1 MB, and the minimum resolution is 200 DPI. Convert to color or grayscale.
Log In to Ally Online Banking:
Go to ally.com and log in to your account.
Navigate to Deposits:
From your account dashboard, select "Deposits" and then "Check Deposits."
Choose "Make a Deposit."
Upload Scanned Images:
Follow the on-screen prompts to upload the scanned images of the front and back of your endorsed check.
Enter Check Amount and Submit:
Enter the exact amount of the check and then submit your deposit.
Sub-heading 2.3: Mail a Check
For checks exceeding the mobile deposit limits, or if you simply prefer mailing, you can send your check to Ally Bank.
Proper Endorsement:
Ensure each check is properly endorsed with the signatures of all payees.
Write "For Deposit Only" and your Ally Bank account number on the back.
Mailing Address:
Mail your check to: Ally Bank P.O. Box 951 Philadelphia, PA 19101-3625
Optional: Order Deposit Slips and Envelopes:
You can order free deposit slips and envelopes from Ally through their mobile app or website for convenient mailing.
Note: There is no dollar deposit limit on mailed checks.
Step 3: Making Cash Deposits – Indirect Methods
This is a critical point: Ally Bank does not accept direct cash deposits. As an online-only bank, they do not have physical branches or ATMs that accept cash. However, there are indirect ways to get cash into your Ally account:
Deposit Cash at a Traditional Bank, Then Transfer:
Deposit your cash into an account you hold at a traditional bank (e.g., a local bank or credit union).
Once the cash is available in that account, you can then transfer the funds to your Ally Bank account using one of the methods described in Step 4.
Purchase a Money Order or Cashier's Check:
Use your cash to purchase a money order or cashier's check at a post office, grocery store, or another financial institution.
Once you have the money order or cashier's check, you can deposit it into your Ally account using the Mobile Check Deposit or Mail a Check method described in Step 2. Remember to endorse it properly!
Step 4: Electronic Transfers – Fast and Convenient
Electronic transfers are excellent for moving money between your own accounts or receiving funds from others.
Sub-heading 4.1: ACH Transfers (Automated Clearing House)
This is the most common way to transfer money between different banks. ACH transfers are usually free for standard transfers.
Link External Accounts:
Log in to your Ally Bank online banking or mobile app.
Go to the "Transfers" section.
You'll need to link your external bank account(s) to your Ally account. This typically involves providing the external account's routing number and account number.
Ally will usually send small trial deposits (micro-deposits) to the external account, which you'll need to verify within Ally's platform to confirm ownership.
Initiate a Transfer:
Once linked, you can initiate a transfer. Select your Ally account as the "To" account and your linked external account as the "From" account.
Enter the amount you wish to transfer.
Availability: Standard ACH transfers usually take 1-3 business days to process. Next-day transfers might be available, though they could have different cutoff times.
Limits: Ally Bank has ACH transfer limits. Typically, you can transfer up to $150,000 per day and $600,000 every 30 days from an external account into Ally.
QuickTip: Don’t just consume — reflect.
Sub-heading 4.2: Wire Transfers
Wire transfers are best for large sums of money that need to be moved quickly, typically on the same business day.
Gather Information:
To receive a wire transfer into your Ally Bank account, you'll need to provide the sender with the following information:
Bank Name: Ally Bank
Routing Number (ABA): 124003116
Your Ally Account Number
Your Account Type: (e.g., Checking, Savings, Money Market)
Your Name and Address
Provide to Sender:
Give this information to the person or institution sending you the wire.
Good News: Ally Bank does not charge a fee for incoming domestic wire transfers.
Sub-heading 4.3: Direct Deposit (for Paychecks and Benefits)
Setting up direct deposit is ideal for recurring income like paychecks, government benefits, or pension payments. This ensures your money goes directly into your Ally account without any manual steps.
Obtain Direct Deposit Information:
You'll need your Ally Bank routing number (which is 124003116) and your specific account number for the Ally account you want the direct deposit to go into.
You can often find a pre-filled direct deposit form by logging into your Ally online banking or mobile app. Look for "Direct Deposit" under the "Deposits" or "Account Services" section.
Provide Information to Your Employer/Payer:
Give this information (routing number and account number) to your employer's payroll department, or the institution issuing your benefits.
They may have their own direct deposit form for you to fill out. If not, Ally provides a printable form.
You might be asked for a voided check. Ally can provide an image of one if needed.
Confirmation:
It typically takes 1-2 pay periods for direct deposit to take effect. Always double-check your first direct deposit to ensure it arrives correctly.
Step 5: Receiving Money from Friends/Family
While not a direct "deposit" method in the traditional sense, you can easily receive money from others into your Ally account.
Person-to-Person Payment Services (e.g., Zelle®):
Ally Bank supports Zelle®, allowing you to send and receive money directly from people you know and trust, often within minutes.
Enroll: Ensure you are enrolled in Zelle® through your Ally Bank online banking or mobile app. You'll link your Ally account to your email address or U.S. mobile number.
Receive Funds: When someone sends you money via Zelle® to your enrolled email or phone number, the funds will automatically go into your linked Ally account.
ACH Transfer from Their Bank:
They can initiate an ACH transfer from their bank account to your Ally Bank account using your Ally routing number (124003116) and your account number, similar to linking external accounts as described in Step 4.1.
Step 6: Reviewing Your Deposits
After making a deposit, it's always a good idea to confirm it has been successfully processed and the funds are available.
Check Your Account Activity:
Log in to your Ally Bank online banking or mobile app.
Navigate to your account details or "Activity" section.
You'll see a record of your recent deposits, often with their status (e.g., "Pending," "Processing," "Completed").
Understand Funds Availability:
eCheck Deposits: Generally, the first $300 of an eCheck deposit is available the next business day, with the remainder becoming available on the second business day (up to $25,000). Amounts over $25,000 may take up to the fifth business day.
ACH Transfers: Typically 1-3 business days.
Wire Transfers: Usually available on the same business day if received by the cut-off time.
Direct Deposits: Funds are usually available on your scheduled pay date.
Frequently Asked Questions (FAQs)
Here are 10 related FAQ questions to help you navigate depositing money into your Ally Bank account:
QuickTip: Pay attention to first and last sentences.
How to deposit cash into an Ally Bank account?
You cannot directly deposit cash into an Ally Bank account as it's an online-only bank. You can deposit cash into an account at a traditional bank or credit union and then transfer it to Ally, or use the cash to purchase a money order/cashier's check and deposit that.
How to find my Ally Bank routing number for direct deposit?
Your Ally Bank routing number is 124003116. You can also find it by logging into your Ally online banking or mobile app, usually within your account details or the direct deposit setup section.
How to endorse a check for Ally mobile deposit?
On the back of the check, sign your name, write "For Mobile Deposit Only" (or "For Ally Mobile Deposit Only"), and then write your Ally Bank account number below your signature.
How to send a wire transfer to my Ally Bank account?
Provide the sender with the following information: Bank Name (Ally Bank), Routing Number (124003116), your Ally Account Number, your Account Type (e.g., Checking, Savings), and your Name and Address.
How to check the status of a check deposit with Ally Bank?
You can check the status of your eCheck deposits by logging into your Ally online banking (select "Deposits" then "Activity") or the Ally Mobile App (choose your account, then "View Scheduled Activity" for in-process or "History" and "Deposits" for past activity).
Tip: A slow, careful read can save re-reading later.
How to set up direct deposit for my paycheck with Ally Bank?
Obtain your Ally Bank routing number (124003116) and your specific account number. Provide this information to your employer's payroll department. They may have their own direct deposit form, or you can use the direct deposit form provided by Ally Bank.
How to deposit a large check with Ally Bank?
For checks exceeding the mobile deposit limit ($50,000 per day), you can mail the check to Ally Bank at P.O. Box 951, Philadelphia, PA 19101-3625. Ensure it's properly endorsed with "For Deposit Only" and your account number.
How to transfer money from another bank to Ally Bank?
You can link your external bank account to your Ally Bank account via ACH transfer. Log in to Ally online banking, go to "Transfers," and follow the prompts to link the account using its routing and account numbers. Once linked, you can initiate transfers.
How to use Zelle to add money to my Ally Bank account?
First, ensure you are enrolled in Zelle® through your Ally Bank online banking or mobile app, linking your Ally account to your email or U.S. mobile number. Then, ask the sender to send money to your enrolled email or phone number. The funds will go directly into your linked Ally account.
How to order deposit slips for mailing checks to Ally Bank?
You can order free deposit slips and envelopes through your Ally Bank online banking or mobile app. Look for "Order deposit slips and envelopes" under the "Deposits" or "Check Deposits" section.
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