You've just received a check, and now you're wondering, "How on earth do I cash this when my bank, Ally, is entirely online?" It's a common question, and you're not alone! While Ally Bank doesn't have traditional brick-and-mortar branches, they offer incredibly convenient and secure ways to get your hands on that money. Let's dive into a comprehensive guide to cashing a check from Ally Bank, ensuring you get your funds quickly and efficiently.
Step 1: Understand Your Options – What's the Best Fit for You?
Before we jump into the "how-to," let's talk about the different ways you can deposit or cash a check with Ally Bank. This is crucial because your choice will depend on factors like how quickly you need the funds, your comfort with technology, and the amount of the check.
Ally eCheck Deposit (Mobile App or Online): This is by far the most popular and convenient method. You simply take a picture of your check with your smartphone or scan it on your computer. It's fast, free, and secure.
Mail Deposit: For those who prefer a more traditional approach or have a check exceeding mobile deposit limits, mailing your check to Ally Bank is an option.
Third-Party Check Cashing Services/Retailers: While not directly through Ally, you can sometimes cash a check at certain retailers or check cashing stores. Be aware: these services often come with fees.
ATM Deposit (Limited Availability): While Ally Bank doesn't have its own ATMs, you can deposit checks at select Allpoint+ ATMs that support deposits. However, availability can vary, and it's essential to confirm if a particular ATM offers this service.
Ready to get that money in your account? Let's pick the best path for you!
Step 2: Prepare Your Check for Deposit
No matter which method you choose, proper endorsement is key. This is a critical step that ensures the check can be processed correctly and securely.
Sub-heading: The Golden Rules of Endorsement
Sign It Right: Flip the check over to the back. On the designated endorsement line, sign your name exactly as it appears on the "Pay to the Order of" line on the front of the check. If your name is misspelled on the check, sign it both ways (the misspelled way and your correct signature).
"For Mobile Deposit Only" (Crucial for eCheck Deposit!): If you're using the Ally eCheck Deposit (mobile app or online scanner), you must also write "For Mobile Deposit Only" below your signature. Some sources also recommend adding your Ally account number. This is a vital security measure.
All Payees Must Endorse: If the check is made out to "John Doe AND Jane Doe," both individuals must endorse the check. If it's "John Doe OR Jane Doe," only one signature is required.
Keep it Clean: Avoid writing outside the endorsement area. Ensure your signature is clear and legible.
Sub-heading: What to Look For Before Depositing
Date: Is the check dated within the last 180 days? Most banks won't accept stale-dated checks.
Payable to You: Is the check clearly made out to you or your joint account holders? Ally Bank cannot accept checks payable to any person or entity other than the account holders of the deposit account.
U.S. Bank and U.S. Dollars: The check must be drawn on a U.S. bank and be in U.S. dollars.
No Alterations: Ensure there are no visible alterations on the check. If there are, contact the check issuer for a new check.
Step 3: Depositing Your Check with Ally eCheck Deposit (Recommended!)
This is the most popular and efficient way to deposit a check with Ally. You can do this either through the Ally Mobile App or by scanning the check via their online banking platform.
Sub-heading: Using the Ally Mobile App (The Easiest Way)
Download and Log In: If you haven't already, download the Ally Mobile App from your device's app store. Log in using your Ally Bank credentials.
Navigate to Deposits: Once logged in, select the account you wish to deposit the check into. Look for an option like "Deposit Checks" or "Make a Deposit."
Snap Those Pictures: The app will guide you to take pictures of both the front and back of your properly endorsed check.
Tips for Success:
Place the check on a dark, non-reflective background. Avoid busy patterns.
Ensure there are no shadows on the check.
Hold your camera still and steady.
Make sure all four corners of the check are visible in the frame.
Ensure the routing and account numbers are clearly readable.
The app may automatically capture the image once it detects all requirements are met.
Enter the Amount: Carefully enter the exact amount of the check. Double-check for accuracy!
Review and Submit: Review all the details one last time – account, amount, and image quality. Then, tap "Submit" or "Deposit."
Confirmation: You'll receive a confirmation message in the app, and Ally will usually send you an email within one business day with your deposit status.
Keep the Check Safe: Do not immediately discard the physical check! Ally recommends holding onto the check until the funds are fully available in your account. You can write "Electronically Deposited" and the date on the front of the check for your records. Once cleared, shred it.
Sub-heading: Depositing Online with a Scanner
Log In to Ally Online Banking: Access your Ally Bank account via a web browser on your computer.
Go to Check Deposits: Navigate to the "Deposits" section and then select "Check Deposits."
Upload Scanned Images: You'll need access to a scanner to upload images of the front and back of your endorsed check.
Scanner Tips:
Ensure all 4 corners of the check are visible.
Convert files to color or grayscale.
File size should not exceed 1 MB.
Save files as a JPG (PDFs are generally not accepted for eCheck Deposit).
Minimum resolution is typically 200 DPI.
Enter Details: Provide the check amount and other requested details.
Submit: Review and submit your deposit.
Step 4: Depositing Your Check by Mail
For larger checks or if mobile/online deposit isn't feasible, mailing your check is a secure alternative.
Endorse Properly: As in Step 2, endorse the check with your signature. Additionally, write "For Deposit Only" and your Ally account number below your signature.
Prepare for Mailing:
Place the check securely in an envelope.
You can order free deposit slips and envelopes through the Ally app or online banking if you plan to do this regularly.
Mail To: Ally Bank P.O. Box 13625 Philadelphia, PA 19101-3625
Track Your Mail: Consider using a trackable mailing service for peace of mind, especially for large amounts.
Step 5: Understanding Funds Availability
Once you've deposited your check, you'll naturally want to know when the funds will be available. Ally Bank has specific policies regarding fund availability.
eCheck Deposit Cut-off Time:
If you deposit a check before 7 PM ET on a business day, Ally typically begins processing that evening. The first $300 of your deposit will usually be available the next business day.
If you deposit a check after 7 PM ET or on a weekend/holiday, processing begins on the next business day.
Larger Deposits: For checks over $300, a portion of the funds may be available sooner, with the remainder becoming available over a few business days. For example, up to $24,700 may be available on the second business day, and amounts over $25,000 on the fifth business day.
Holds: Ally Bank may place a longer hold on funds if they believe a check won't be paid, if a previous check was returned unpaid, or if you've repeatedly overdrawn your account. You will typically be notified if a hold is placed.
Checking Status: You can view your eCheck Deposit activity for the past 120 days within your Ally online banking or mobile app.
Step 6: Alternative Check Cashing Methods (Use with Caution!)
While Ally Bank provides excellent deposit options, some users might look for immediate cash. Since Ally is an online-only bank, you cannot directly cash a check at an Ally branch.
Third-Party Check Cashing Stores:
How it works: These businesses (like ACE Cash Express, Money Mart, etc.) will cash your check for a fee.
Pros: Instant cash.
Cons: High fees (can be a percentage of the check amount), requires a valid ID, and some may not accept personal checks from online banks. This is generally not recommended due to the costs involved.
Retailers with Check Cashing Services:
How it works: Some large retailers (Walmart, certain grocery stores) offer check cashing services, often for a lower fee than dedicated check cashing stores.
Pros: More accessible than check cashing stores, potentially lower fees.
Cons: Still involves a fee, limits on check amounts, requires valid ID, and they may have strict policies on the types of checks they accept.
Cashing at the Issuing Bank (The Bank the Check is Drawn On):
How it works: If the check is from a traditional bank (e.g., Chase, Bank of America), you might be able to cash it directly at one of their branches, even if you don't have an account there.
Pros: No fees, immediate cash.
Cons: You'll need to present a valid government-issued ID. The bank may verify funds and your identity. This is usually only possible if the check amount is relatively small. They reserve the right to decline cashing it if you're not an account holder.
Always prioritize depositing the check directly into your Ally account via the app, online, or mail to avoid unnecessary fees and ensure the highest level of security.
Step 7: Post-Deposit Best Practices
Once your check is on its way to being processed, there are a few things you should do to ensure a smooth experience and protect yourself.
Monitor Your Account: Regularly check your Ally Bank account balance and transaction history to see when the deposited funds become available.
Retain the Physical Check: As mentioned, keep the physical check in a secure place until the funds are fully cleared and posted to your account. This is usually a few business days, but Ally may recommend holding it longer in some cases (e.g., 14 days or until you're certain it has cleared).
Shred the Check: Once the funds are fully available and you no longer need the physical check, shred it to protect your personal and financial information. Do not just tear it up and throw it away.
Be Wary of Scams: Be extremely cautious of any "overpayment" scams or requests to cash a check for someone you don't know well. If a deal seems too good to be true, it probably is.
By following these steps, you can confidently and securely cash your checks with Ally Bank, leveraging their convenient digital services.
10 Related FAQ Questions
Here are some frequently asked questions about cashing checks with Ally Bank, with quick answers:
How to deposit multiple checks with Ally Bank's mobile app?
You can deposit multiple checks using the Ally Mobile App by submitting each check as a separate transaction. Follow the same "Snap Those Pictures" process for each individual check.
How to find an ATM that accepts Ally Bank check deposits?
You can use the Ally Bank ATM & Cash Back Locator online or in their mobile app. Look for ATMs that are part of the Allpoint+ network, as these are the ones that typically support deposits. Not all Allpoint ATMs accept deposits, so verify beforehand.
How to get cash from my Ally Bank account if I need it urgently?
You can use your Ally Bank debit card at any ATM worldwide to withdraw cash. Ally Bank won't charge you a fee, and they reimburse up to $10 in ATM fees each statement cycle from other ATM operators. You can also get cash back at participating retailers when making a purchase with your debit card.
How to know when my Ally Bank check deposit will clear?
Ally typically sends an email within one business day with your deposit status. For eCheck deposits before 7 PM ET on a business day, the first $300 is usually available the next business day, with larger amounts clearing over subsequent business days (up to 5 business days for amounts over $25,000). You can also view your eCheck Deposit activity in the app or online.
How to endorse a check for mobile deposit with Ally Bank?
On the back of the check, sign your name exactly as it appears on the front. Below your signature, write "For Mobile Deposit Only" and your Ally account number.
How to deposit a cashier's check with Ally Bank?
Cashier's checks can be deposited using the same methods as personal checks: Ally eCheck Deposit (mobile app or online), or by mailing the check to Ally Bank. Ensure proper endorsement.
How to deposit a third-party check into my Ally Bank account?
Ally Bank only accepts checks payable to the account holders of the deposit account. You cannot deposit a check made out to someone else into your Ally account. The check must be endorsed by the original payee and then properly endorsed to you.
How to increase my mobile check deposit limit with Ally Bank?
Ally Bank has daily deposit limits (e.g., up to $50,000 in a single day and $250,000 every 30 calendar days for eCheck Deposit). If you exceed these limits, you'll need to deposit the check by mail, which has no dollar limit. For specific limit inquiries, contact Ally Bank customer service.
How to resolve an issue with an Ally Bank mobile check deposit?
If you encounter an issue, first check your Ally Bank account for any notifications or status updates regarding the deposit. If the problem persists, contact Ally Bank customer service directly via phone (available 24/7), chat, or secure email for assistance.
How to order free deposit slips and envelopes from Ally Bank?
You can order free deposit slips and envelopes through your Ally Bank online banking portal or by contacting their customer service. This is useful for mail deposits.
