Embarking on a journey to manage your finances more effectively often begins with choosing the right banking partner. In the digital age, online banks like Ally Bank have become incredibly popular due to their competitive interest rates, low fees, and convenient online and mobile banking features. If you're ready to take control of your money with a modern, user-friendly bank, then opening an Ally Bank account online is an excellent choice!
Let's dive right into how you can get your Ally Bank account set up, step by step.
Step 1: Are You Ready to Revolutionize Your Banking?
Before we begin the technical steps, ask yourself: are you tired of low interest rates at traditional banks? Do you crave 24/7 access to your money without hidden fees? If you answered yes to these questions, then you're mentally prepared for the convenience and benefits that Ally Bank offers!
Now that you're excited, let's gather what you'll need.
Sub-heading: What You'll Need Before You Start
To ensure a smooth and quick application process, have the following information and documents handy:
Your Legal Name and Date of Birth: You must be 18 years or older.
A U.S. Residential Street Address: And a previous address if you've lived at your current one for less than five years.
Social Security Number (SSN) or Tax Identification Number (TIN): This is crucial for identity verification.
Occupation Information: Standard banking requirement.
Contact Information: A valid email address and phone number.
Mother's Maiden Name: Often used for security verification.
Information for Your Initial Deposit: While Ally Bank has no minimum deposit to open an account or earn APY, having your existing bank account details (routing and account number) ready for a transfer will make funding your new account quicker.
Step 2: Navigating to the Ally Bank Website and Choosing Your Account Type
The journey begins on Ally's official website.
Sub-heading: Heading to the Ally Bank Homepage
Open your preferred web browser (Chrome, Firefox, Edge, Safari, etc.).
In the address bar, type
www.ally.comand press Enter. This will take you to the Ally Bank homepage.
Sub-heading: Selecting Your Desired Account
Once on the Ally homepage, you'll see various banking options. Ally Bank offers several account types, each designed for different financial goals:
Online Savings Account: Known for its competitive Annual Percentage Yield (APY) and tools like "Buckets" and "Boosters" to help you organize and grow your savings.
Interest Checking Account (Spending Account): A versatile checking account with no monthly maintenance fees, a competitive interest rate on your balance, and features like early direct deposit and free online bill pay.
Money Market Account: Offers a competitive interest rate with more flexibility than a traditional savings account, often including check-writing privileges.
Certificates of Deposit (CDs): For those looking to lock in a specific interest rate for a set period.
Choose the account that best suits your needs. For this guide, we'll focus on opening a Savings Account or Interest Checking Account as they are the most common starting points for new customers.
Look for a "Checking & Savings" tab or a prominent "Open Account" button on the homepage.
Click on the specific account type you wish to open (e.g., "Online Savings Account" or "Interest Checking Account").
You'll likely see a button that says "Open New Account" or "Apply Now." Click it!
Step 3: The Online Application Form – Your Personal Details
This is where you'll provide your personal information. Accuracy is key here to avoid any delays.
Sub-heading: Entering Your Information
Existing Customer? The first question you might encounter is whether you're an existing Ally customer. Select "No, I'm a new customer" if this is your first time opening an account with Ally.
Account Type Confirmation: Confirm the type of account you wish to open. You may also have the option to open a joint account at this stage. If you're opening a joint account, be prepared to provide the co-applicant's information as well.
Initial Deposit Amount (Optional): Ally Bank does not require a minimum deposit to open an account. You might see a field asking for an initial deposit amount; this is primarily for your planning purposes and isn't mandatory to proceed with the application.
Personal Information: Carefully fill in all the required fields:
Full Legal Name
Date of Birth
Social Security Number (SSN) or Tax ID
U.S. Residential Street Address
Previous Address (if applicable)
Occupation
Email Address
Phone Number
Mother's Maiden Name
Double-check everything for typos! Even a small mistake can hold up your application.
Sub-heading: Reviewing Disclosures and Agreements
Before submitting, you'll be presented with various legal disclosures and agreements.
Read through these documents carefully. This includes terms and conditions, privacy policy, and electronic communication consent. It's important to understand the terms of your new account.
You will need to electronically consent to receive account information and communications online. This is standard for online banks.
Once you've reviewed and understood them, click the checkbox to agree to the terms.
Step 4: Submitting Your Application and Verification
You're almost there! This step involves the final submission and Ally's internal verification process.
Sub-heading: Final Submission
After filling out all the necessary details and agreeing to the terms, click the "Submit Application" or "Continue" button.
Ally Bank will then run a quick check to verify your identity. This might involve a soft credit pull (which does not affect your credit score) to confirm your information and prevent fraud.
Sub-heading: Identity Verification
In some cases, Ally Bank might require additional identity verification if their initial checks are inconclusive. This could involve:
Answering a few security questions based on your credit history (e.g., previous addresses, loans you've had).
Requesting copies of identification documents like your driver's license or state ID.
Don't be alarmed if this happens; it's a security measure. Follow the instructions provided by Ally Bank to complete this step promptly.
Sub-heading: Application Approval
Once your identity is successfully verified and your application processed, you'll typically receive an instant approval message on screen or an email confirmation shortly thereafter. Congratulations, you've officially opened your Ally Bank account!
Step 5: Funding Your New Ally Bank Account
Now that your account is open, it's time to put some money into it! Remember, there's no minimum deposit required to open the account.
Sub-heading: Initial Funding Options
Ally Bank offers several convenient ways to fund your new account:
Electronic Transfer (ACH Transfer) from Another Bank: This is often the most common and easiest method.
You'll need the routing number and account number of your external bank account.
Log in to your new Ally Bank account.
Look for an option like "Transfers" or "Link External Account."
Follow the prompts to link your external account and initiate a transfer. This usually takes 1-3 business days.
Mobile Check Deposit (Ally eCheck Deposit℠): If you have a physical check, you can deposit it using the Ally Mobile App.
Download the Ally Mobile App from your app store (Apple App Store or Google Play Store).
Log in to the app.
Select your account, then choose "Deposit Checks."
Take clear photos of the front and back of your endorsed check (write "For Mobile Deposit Only" and your signature).
Enter the check amount and submit. Funds availability may vary.
Mail a Check: You can mail a check to Ally Bank. You can even order free envelopes and deposit slips through the Ally app or website.
Wire Transfer: For larger amounts, you can initiate a wire transfer from another financial institution. Note that wire transfers often come with fees from the originating bank.
Direct Deposit: You can set up direct deposit for your paycheck or other regular income directly into your Ally Spending Account. Ally Bank also offers early direct deposit, meaning you could receive your funds up to two days sooner!
Choose the method that works best for you.
Step 6: Setting Up Online and Mobile Banking & Exploring Features
With your account funded, it's time to make the most of Ally's digital tools.
Sub-heading: Activating Online Banking Access
If you didn't set up your username and password during the application, you can do so now:
Go to
www.ally.com.Click on "Log In."
Look for a "Set up a username and password" or "First-time user" link.
Follow the instructions to create your unique login credentials.
Sub-heading: Downloading the Mobile App
The Ally Mobile App is a powerful tool for managing your finances on the go.
Search for "Ally: Bank, Auto & Invest" in your device's app store (Apple App Store for iOS, Google Play Store for Android).
Download and install the app.
Log in using your newly created credentials.
Sub-heading: Exploring Key Features
Take some time to explore the features Ally Bank offers:
Account Alerts and Notifications: Set up alerts for low balances, large transactions, or other activity to stay on top of your finances.
Bill Pay: Use Ally's free online Bill Pay service to schedule and make payments to virtually anyone in the U.S.
Transfers: Easily transfer money between your Ally accounts or to external linked accounts.
Zelle®: Send and receive money quickly with friends and family using Zelle®, integrated directly into Ally's platform.
Savings Buckets (for Savings Accounts): Organize your savings for different goals (e.g., "New Car Fund," "Vacation," "Emergency Fund") without opening multiple accounts.
Boosters (for Savings Accounts): Tools like "Surprise Savings" and "Round Ups" can help you automate your savings efforts.
Debit Card and Checks: If you opened a Spending Account or Money Market Account, your debit card and checks will be mailed to you. Activate your debit card upon arrival.
Step 7: Securing Your Account and Ongoing Management
Security and consistent management are paramount for any financial account.
Sub-heading: Enhancing Account Security
Ally Bank employs robust security measures, but you also play a role:
Strong Passwords: Create unique, complex passwords for your Ally account.
Multi-Factor Authentication (MFA): Ally uses security codes (sent via text or call) when you log in from an unrecognized device. Always use this feature.
Be Wary of Phishing: Never click on suspicious links in emails or text messages claiming to be from Ally. Always type
www.ally.comdirectly into your browser.Monitor Your Accounts: Regularly review your transaction history for any unauthorized activity.
Public Wi-Fi Caution: Avoid accessing your banking on unsecured public Wi-Fi networks.
Sub-heading: Regular Account Management
Review Statements: Check your monthly statements for accuracy.
Track Your Spending: Utilize Ally's online tools and app to categorize and monitor your expenditures.
Set Savings Goals: Use the "Buckets" feature to visualize and work towards your financial aspirations.
Contact Customer Service if Needed: Ally Bank offers 24/7 customer support via phone, chat, or email. Don't hesitate to reach out if you have questions or encounter issues.
By following these steps, you'll not only successfully open an Ally Bank account online but also be well on your way to leveraging its full potential for a smarter, more efficient financial life. Welcome to the world of convenient online banking!
10 Related FAQ Questions
Here are 10 related FAQ questions, all starting with 'How to', along with their quick answers:
How to Check My Ally Bank Account Balance?
You can check your Ally Bank account balance by logging into your account on the Ally Bank website (www.ally.com) or by using the Ally Mobile App on your smartphone. The balance is typically displayed prominently on your account dashboard.
How to Deposit a Check into My Ally Bank Account?
You can deposit a check into your Ally Bank account using Ally eCheck Deposit℠ via the Ally Mobile App (by taking photos of the endorsed check) or by scanning and uploading the check images through the Ally website. You can also mail a check.
How to Set Up Direct Deposit with Ally Bank?
To set up direct deposit, you'll need your Ally Bank account number and routing number. You typically provide these details to your employer's payroll department or the payer. Ally Bank also offers a dedicated direct deposit page to help you generate a pre-filled form.
How to Transfer Money from Ally Bank to Another Bank?
You can transfer money from your Ally Bank account to another external bank account by linking the external account within your Ally online banking portal. Once linked, you can initiate an ACH transfer, which usually takes 1-3 business days.
How to Find My Ally Bank Routing Number and Account Number?
Your Ally Bank routing number (typically 121000358) and your specific account number can be found by logging into your online banking account or the Ally Mobile App. They are usually displayed on your account details page.
How to Order Checks for My Ally Bank Spending Account?
You can order checks for your Ally Bank Spending Account directly through your online banking portal or the Ally Mobile App. Look for an option related to "Order Checks" or "Account Services."
How to Close My Ally Bank Account?
To close your Ally Bank account, you typically need to contact Ally Bank customer service directly. They will guide you through the process, which usually involves ensuring your balance is zero and confirming your identity.
How to Contact Ally Bank Customer Service?
You can contact Ally Bank customer service 24/7 by phone at 1-877-247-2559. They also offer online chat support and email options through their website.
How to Change My Ally Bank Login Password?
You can change your Ally Bank login password by logging into your account and navigating to the "Profile & Settings" or "Security" section. There, you should find an option to change your password.
How to Use Savings Buckets with Ally Bank?
Savings Buckets are a feature of the Ally Online Savings Account. To use them, log into your account, select your Savings Account, and look for an option like "Organize" or "Buckets." From there, you can create new buckets, assign funds, and track progress towards different savings goals.
