Hey there! Ready to get your money into your Ally Bank account? It's super easy, and you've got a few convenient options, whether you're dealing with a physical check, setting up regular payments, or even making a quick transfer. Let's dive in and get you started!
How to Deposit Money with Ally Bank: A Comprehensive Guide
Ally Bank is an online-only bank, which means there are no physical branches for traditional cash deposits or in-person transactions. However, they offer a variety of digital and mail-in methods that are incredibly convenient and secure. This guide will walk you through each method step-by-step.
Step 1: Identify Your Deposit Type (Engage the user!)
Before we jump into the "how-to," let's figure out what you're looking to deposit. Are you trying to:
Deposit a paper check from a friend, a rebate, or a payment?
Set up your paycheck or government benefits to go directly into your Ally account?
Transfer money from another bank account you hold?
Deposit cash (even though Ally doesn't have branches, there's still a way!)?
Send a large sum via a wire transfer?
Once you know your deposit type, you can jump to the relevant section below!
Step 2: Depositing Checks with Ally eCheck Deposit℠ (Mobile & Online)
This is by far the most popular and convenient way to deposit checks with Ally. You can do it right from your smartphone or computer.
Sub-heading 2.1: Using the Ally Mobile App (Recommended)
The Ally Mobile App makes check deposits a breeze.
What you'll need:
Your smartphone with the Ally Mobile App installed.
A properly endorsed check.
A well-lit area with a dark, non-reflective background.
Step-by-step Guide:
Log In: Open the Ally Mobile App and log in to your account.
Select Your Account: Choose the Ally Checking, Savings, or Money Market account where you want to deposit the check.
Tap "Deposit Checks": You'll usually find this option prominently displayed within your chosen account's details.
Prepare Your Check:
Ensure the check is dated within the last 180 days.
Make sure it's payable to you.
Confirm it's drawn on a U.S. Bank in U.S. dollars.
Crucially, endorse the back of your check. This means signing your name and writing "For Mobile Deposit Only" and your Ally Bank account number below your signature. This endorsement is vital for the deposit to be processed correctly.
Snap Pictures: The app will prompt you to take a clear photo of the front and back of your endorsed check. Make sure all four corners are visible, there are no shadows, and all information (especially the routing and account numbers) is clearly legible.
Enter the Amount: Carefully enter the exact dollar amount of the check.
Review and Submit: Double-check all the details you've entered and the images. Once you're confident, tap "Submit Deposit."
Confirmation: Ally will send you an email confirmation within one business day with your deposit status. Keep your physical check in a safe place until you've confirmed the deposit is fully processed and the funds are available. Ally recommends holding onto it for a reasonable period, then shredding it.
Sub-heading 2.2: Depositing Checks Online (Using a Scanner)
If you prefer to use your computer, you can still deposit checks online with Ally's eCheck Deposit.
What you'll need:
A computer with internet access.
A scanner capable of producing high-quality images.
A properly endorsed check.
Step-by-step Guide:
Log In: Go to Ally's website (ally.com) and log in to your account.
Navigate to Deposits: Look for a "Deposits" or "eCheck Deposit" section, typically found within your account dashboard.
Scan Your Check: Scan both the front and back of your endorsed check. Ensure the images are clear, legible, in color or grayscale, and saved as a JPG file (not PDF). The file size should not exceed 1 MB, and the minimum resolution should be 200 DPI.
Upload Images: Follow the on-screen prompts to upload the scanned images of your check.
Enter the Amount: Input the exact amount of the check.
Submit: Review all the information and submit your deposit.
Confirmation: You'll receive an email confirming your deposit status. Retain your physical check until the deposit is fully processed.
Sub-heading 2.3: Mobile Deposit Limits and Funds Availability
Deposit Limits: You can deposit up to $50,000 in a single business day and up to $250,000 every 30 calendar days using Ally eCheck Deposit.
Funds Availability:
If you deposit a check before 7 PM ET on a business day, the first $300 of your deposit will typically be available the next business day. The remainder (up to $25,000) will be available on the second business day. Any amount over $25,000 will be available on the fifth business day.
Deposits made after 7 PM ET or on weekends/holidays will begin processing on the next business day, and the funds availability schedule will adjust accordingly.
Holds may be placed on funds for various reasons, such as if Ally believes the check may not be paid or if you have a history of overdrawn accounts.
Step 3: Setting Up Direct Deposit (For Paychecks & Recurring Payments)
Direct deposit is the most convenient and often fastest way to receive regular payments like paychecks, government benefits, or pensions.
Sub-heading 3.1: Gathering Necessary Information
To set up direct deposit, you'll need your Ally Bank account details.
Ally Bank Routing Number: This is 124003116.
Your Ally Account Number: You can find this by logging into your Ally online banking or mobile app, usually under your account details.
Employer/Payer Information: You'll need the name and contact information of your employer or the payment provider (e.g., Social Security Administration).
Sub-heading 3.2: Methods to Set Up Direct Deposit
Ally offers a few ways to set this up, making it super flexible.
Method A: Automated Setup via Ally App/Website (Recommended for many employers):
Log In: Access your Ally account through the mobile app or online banking.
Go to Direct Deposit Page: Look for a "Direct Deposit" section. Ally has a dedicated page for this.
Connect Automatically: Choose the "Set Up Automatically" option. This will often allow you to search for your employer and securely connect your Ally account. Follow the prompts to complete the setup.
Benefit: This method can sometimes get you access to your paycheck up to two days early if Ally receives the payment details in advance!
Method B: Download a Pre-filled Form:
Log In: Access your Ally account through the mobile app or online banking.
Go to Direct Deposit Page: Find the "Direct Deposit" section.
Download Form: Ally provides a convenient, pre-filled direct deposit form with your account and routing numbers. Download and print this form.
Submit to Employer/Payer: Provide the completed form to your employer's HR or payroll department, or to the government agency responsible for your payments.
Method C: Manual Entry on Employer/Payer Site:
Gather Info: Have your Ally Bank routing number (124003116) and your specific Ally account number handy.
Access Payer's Portal: Log in to your employer's payroll portal or the government payment website.
Enter Details: Locate the direct deposit setup section and manually enter your Ally Bank routing and account numbers.
Note: Some employers may also require a voided check, which you can typically generate or get instructions for within your Ally online banking.
Important Note: It usually takes 1-2 pay cycles for direct deposit to take effect, so plan accordingly.
Step 4: Transferring Money from Another Bank Account
This is a common way to fund your Ally account from an existing account at another financial institution.
Sub-heading 4.1: Initiating a Transfer from Ally Bank
This is often the easiest way, as Ally pulls the funds from your other bank.
What you'll need:
Login credentials for your other bank account.
The account and routing number of your external bank account.
Step-by-step Guide:
Log In to Ally: Access your Ally Bank account online or via the mobile app.
Go to Transfers: Look for the "Transfers" or "Funds Transfer" section.
Add External Account: If you haven't already, you'll need to link your external bank account. This typically involves providing the routing and account numbers of the other bank. Ally may perform small "trial deposits" (usually a few cents) to verify the account, which you'll need to confirm.
Initiate Transfer: Select the Ally account you want to deposit into and the external account you want to transfer from. Enter the amount.
Confirm: Review the transfer details and confirm.
Timing: Standard electronic transfers (ACH transfers) typically take 2-3 business days to complete.
Sub-heading 4.2: Initiating a Transfer from Your Other Bank
You can also push funds from your other bank account to Ally.
What you'll need:
Your Ally Bank routing number: 124003116.
Your specific Ally Bank account number.
Step-by-step Guide:
Log In to External Bank: Access your other bank's online banking or mobile app.
Go to Transfers/External Accounts: Navigate to their transfer section.
Add Ally as External Account: You'll add Ally Bank as an external payee by providing Ally's routing number (124003116) and your Ally account number.
Initiate Transfer: Select the account to transfer from and your Ally account as the destination. Enter the amount.
Confirm: Review and confirm the transfer.
Timing: Transfers initiated this way also typically take 2-3 business days.
Step 5: Depositing Cash with Ally Bank (Indirect Method)
Since Ally Bank doesn't have physical branches, you cannot directly deposit cash into your Ally account at a counter or typical ATM. However, there's a workaround:
Step-by-step Guide:
Deposit Cash at Another Bank/Credit Union: The easiest way to deposit cash into your Ally account is to first deposit the cash into an account you hold at another brick-and-mortar bank or credit union.
Transfer to Ally: Once the cash is available in that account, you can then transfer it to your Ally Bank account using one of the methods described in "Step 4: Transferring Money from Another Bank Account."
Sub-heading 5.1: Allpoint+ ATMs (Limited Availability)
While Ally generally doesn't accept cash deposits, the Allpoint+ ATM network is an exception. Allpoint is a surcharge-free ATM network that Ally Bank customers can use for withdrawals. Some select Allpoint ATMs, specifically those designated as "Allpoint+," do allow cash deposits.
How to find Allpoint+ ATMs:
Use the Allpoint ATM locator on their website or app.
Look for ATMs with the "Allpoint+" logo. These are typically found in major retail stores like CVS and Walgreens in metropolitan areas.
Important: Confirm with Ally or Allpoint if your specific Ally account supports cash deposits via Allpoint+.
Step-by-step Guide (if supported):
Locate an Allpoint+ ATM: Use the locator as mentioned above.
Insert Your Ally Debit Card: Follow the on-screen instructions.
Select Deposit Option: If supported for your Ally account, a "Deposit Cash" option should appear.
Insert Cash: Insert your cash into the ATM's cash acceptor.
Confirm: Review the deposit details and confirm.
Note: This method is not universally available for all Ally accounts or in all locations, so always verify before attempting.
Step 6: Receiving Wire Transfers
For larger sums or faster transfers, especially from international sources, a wire transfer might be necessary.
What you'll need to provide the sender:
Bank Name: Ally Bank
Ally Bank Routing Number (ABA): 124003116
Your Ally Account Number: (This is your specific account number)
Your Name and Address: As it appears on your Ally Bank account.
Beneficiary Name: Your name
Beneficiary Account Number: Your Ally account number
Important Considerations:
Incoming Domestic Wires: Ally Bank does not charge a fee for incoming domestic wire transfers.
Incoming International Wires: Ally Bank does not charge a fee for incoming international wire transfers. However, the sending bank or intermediary banks may charge fees.
Cut-off Time: Domestic wire transfers typically have a cut-off time of 7 PM ET on business days for same-day processing. Wires received after this time will be processed the next business day.
International Wires: While Ally accepts incoming international wires, they do not offer outgoing international wire transfers.
Step 7: Mailing a Check
For those who prefer a traditional approach or if your check exceeds mobile deposit limits, you can always mail a check to Ally Bank.
What you'll need:
A properly endorsed check.
An envelope and postage.
Step-by-step Guide:
Endorse Your Check: Sign the back of your check. Below your signature, write "For Deposit Only" and your Ally Bank account number. This is crucial to ensure the check is deposited correctly.
Address the Envelope: Mail your check to: Ally Bank P.O. Box 951 Horsham, PA 19044-3625
Mail It: Drop your envelope in a USPS mailbox.
Important Note: There is no dollar deposit limit on checks mailed to Ally Bank. However, this method will take the longest to process due to mailing time.
Frequently Asked Questions (FAQs)
Here are 10 common questions about depositing money with Ally Bank, with quick answers:
How to check my deposit status with Ally Bank?
You can view your eCheck Deposit activity by logging into ally.com, selecting "Deposits," then "Activity," or in the Ally Mobile App by choosing your account and tapping "View Scheduled Activity" or "History" then "Deposits."
How to endorse a check for Ally mobile deposit?
On the back of the check, sign your name, write "For Mobile Deposit Only," and include your Ally Bank account number.
How to find my Ally Bank routing number?
Ally Bank's routing number is 124003116. You can also find it in your online banking account details or on their direct deposit forms.
How to make a cash deposit with Ally Bank?
You cannot directly deposit cash at Ally Bank. The best way is to deposit cash into an account at another bank or credit union and then transfer the funds to your Ally account, or use an Allpoint+ ATM if available and supported.
How to know my Ally Bank mobile deposit limits?
You can deposit up to $50,000 in a single business day and up to $250,000 every 30 calendar days via Ally eCheck Deposit.
How to speed up my direct deposit with Ally Bank?
By setting up direct deposit through the automated process in the Ally app or online banking, you may be eligible to receive your paycheck up to two days early.
How to mail a check to Ally Bank?
Endorse your check with your signature, "For Deposit Only," and your Ally account number, then mail it to: Ally Bank, P.O. Box 951, Horsham, PA 19044-3625.
How to set up direct deposit for my Social Security payment with Ally Bank?
You'll need Ally's routing number (124003116) and your Ally account number. You can provide this information to the Social Security Administration, often through their online portal or by using an Ally-provided direct deposit form.
How to fund a new Ally CD with a check?
Yes, you can use Ally eCheck Deposit to fund a new CD. If you have multiple checks for a CD, submit them all by 7 p.m. ET on the same business day for the total amount to be applied.
How to handle a check deposit hold with Ally Bank?
Ally Bank may place a hold on funds for various reasons. You will typically be notified by email if a hold is placed. You can also refer to Ally's Funds Availability Policy in their Deposit Agreement for more detailed information.
