Are you ready to take control of your finances and make the smart move to Ally Bank? With their competitive interest rates, user-friendly online platform, and excellent customer service, it's no wonder many people are choosing Ally for their banking needs. But once you've opened your account, the next logical question is: how do you actually get your money there? Don't worry, it's a straightforward process with several convenient options. This comprehensive guide will walk you through each method, ensuring your funds make their way to Ally Bank smoothly and securely.
Step 1: Getting Started – Your Ally Bank Account Awaits!
First things first, congratulations on taking this step towards smarter banking! Before you can move money, you'll need to have an active Ally Bank account. If you haven't already, head over to Ally Bank's website or download their mobile app to open a Spending (checking), Savings, Money Market, or CD account.
Why is this important? Because without an account, there's nowhere for your money to go! Ensure you've completed the application process and received confirmation that your account is open and ready. Once you're set up, you'll have access to their online banking portal, which is where most of these transfer methods will begin.
Step 2: The Most Common and Convenient: ACH Transfers (Electronic Transfers)
Automated Clearing House (ACH) transfers are the most popular and often free way to move money between banks in the U.S. They're essentially electronic bank-to-bank transfers.
Sub-heading: Initiating an ACH Transfer from Ally Bank (Push)
This method involves "pushing" money from your Ally Bank account to an external bank account.
Log In to Ally Bank Online Banking: Go to ally.com or open the Ally Mobile App and log in with your credentials.
Navigate to Transfers: Look for a "Transfers" or "Move Money" section. This is usually a prominent option in the main menu or dashboard.
Link External Accounts (If Not Already Linked):
If you haven't transferred money to this external account before, you'll need to link it. Look for an option like "+ Link other accounts" or "Add External Account."
You'll typically need to provide your external bank's routing number and your account number.
Ally Bank might initiate small "micro-deposits" (usually a few cents) to your external account to verify ownership. You'll need to log into your external bank account, note these small amounts, and then return to Ally Bank to confirm them. This usually takes 1-2 business days.
Initiate the Transfer:
Once your external account is linked, select "Bank Transfers."
Choose your Ally Bank account as the "From" account and your linked external account as the "To" account.
Enter the amount you wish to transfer.
Select the frequency (one-time, recurring).
Review all the details carefully before confirming the transfer.
Timeframe: Standard ACH transfers can take 3 business days. For established accounts, Ally often supports next-day transfers when initiated from their platform. However, be aware that for new accounts (within 90 days of opening), transfer times might be longer.
Sub-heading: Initiating an ACH Transfer from Your Other Bank (Pull)
This method involves "pulling" money from your external bank account into your Ally Bank account. This can sometimes be faster depending on your other bank's policies.
Log In to Your Other Bank's Online Banking: Access the online portal or mobile app of the bank where your money currently resides.
Find External Transfer Options: Look for sections like "Transfers," "External Transfers," "Link Accounts," or "Add External Bank."
Link Ally Bank:
You'll need Ally Bank's routing number (124003116) and your specific Ally Bank account number.
Similar to the "push" method, your other bank might use micro-deposits to verify your Ally Bank account.
Initiate the Transfer:
Once linked, select your external bank account as the "From" account and your Ally Bank account as the "To" account.
Enter the desired amount and frequency.
Confirm the transfer.
Timeframe: The timing for a "pull" initiated from your external bank will depend on that bank's processing times. It can range from 1 to 5 business days.
Step 3: Direct Deposit – Your Paycheck, Straight to Ally!
This is an excellent option for regularly scheduled income, like your salary from an employer, government benefits, or retirement payments.
Obtain Ally Bank's Direct Deposit Information:
You'll need Ally Bank's routing number: 124003116.
You'll also need your specific Ally Bank account number. This can be found by logging into your Ally account and viewing your account details.
Ally Bank also provides a downloadable direct deposit form on their website, which pre-fills most of this information for you.
Provide Information to Your Employer/Payer:
Most employers have an online portal for managing direct deposit. Log in and enter Ally Bank's routing and your account number.
Alternatively, you may need to fill out a paper direct deposit form provided by your employer. Attach a voided check from your Ally Bank account if required (you can often generate a voided check image from your Ally online banking).
Specify the amount: You can usually choose to direct your entire paycheck or a specific dollar amount/percentage to your Ally Bank account.
Confirm and Wait: It typically takes 1-2 pay cycles for direct deposit changes to take effect. Always keep an eye on your first few direct deposits to ensure they go through correctly.
Step 4: Mobile Check Deposit (Ally eCheck Deposit℠)
Got a physical check? No problem! Ally Bank offers a convenient mobile deposit feature.
Endorse Your Check Properly:
Sign the back of the check.
Crucially, write "For Mobile Deposit Only" below your signature.
Open the Ally Mobile App: Log in to your Ally Bank mobile application.
Navigate to Deposit Checks: Look for a "Deposit Checks" or "eCheck Deposit" option.
Take Photos:
The app will guide you to take clear pictures of both the front and back of your endorsed check.
Pro-Tip: Place the check on a dark, non-reflective background in a well-lit area for best results.
Enter Amount and Submit:
Enter the exact amount of the check.
Review the details and submit your deposit.
Keep the Check: It's a good practice to hold onto the physical check until the funds have fully cleared and are available in your account.
Deposit Limits: Ally eCheck Deposit℠ has limits. Currently, you can deposit up to $50,000 in a single business day and up to $250,000 every 30 calendar days.
Step 5: Wire Transfers – For Larger or Time-Sensitive Transfers
Wire transfers are generally used for larger sums of money or when you need funds to arrive very quickly. They are more expensive than ACH transfers.
Gather Ally Bank Wire Transfer Information:
You'll need Ally Bank's routing number (124003116).
You'll also need your specific Ally Bank account number and the account type (e.g., Spending, Savings).
Crucially, you'll need the recipient name on the account (your name as it appears on your Ally account).
For incoming wires, Ally Bank also usually provides specific wire transfer instructions on their website within the "Transfers" or "Wires" section.
Initiate the Wire from Your Sending Bank:
You'll typically need to visit your sending bank's branch in person, or sometimes initiate it through their online banking if they offer that service for wires.
Provide all the Ally Bank wire details to your sending bank.
Be prepared for a fee from your sending bank for the wire transfer. Ally Bank generally does not charge a fee to receive a wire transfer.
Wire Transfer Limits (Ally Bank): For fraud protection, Ally Bank limits incoming wire transfers to $25,000 for the first 90 days after you open your first Ally Bank account.
Step 6: Depositing Checks by Mail
While less common in the digital age, mailing a check is still an option.
Endorse Your Check Properly:
Sign the back of the check.
Write "For Deposit Only" and include your Ally Bank account number below your signature.
Include a Deposit Slip (Optional but Recommended): You can order free deposit slips from Ally Bank through their app or website.
Mail to Ally Bank:
Carefully seal the envelope.
Mail your check(s) to: Ally Bank P.O. Box 13625 Philadelphia, PA 19101-3625
Important: Only send checks made payable to you. Ally Bank does not accept cash deposits by mail.
Step 7: Using Zelle® for Quick Person-to-Person Transfers
Zelle® is a fast, free, and easy way to send and receive money with people you know and trust, often within minutes, directly between U.S. bank accounts. Ally Bank is a participating financial institution.
Enroll in Zelle® through Ally Bank:
Log in to your Ally Bank online banking or mobile app.
Go to the "Payments" section and look for "Send Money with Zelle®."
Enroll your U.S. mobile number or email address. Note: If you've already enrolled with Zelle at another bank using the same email/phone, you'll need to transfer that enrollment to Ally Bank if you want to receive money there.
Send or Receive Money:
To receive money, simply provide your enrolled email or mobile number to the sender. If they are also enrolled with Zelle, the money will typically appear in your Ally account within minutes.
To send money from Ally, select Zelle, choose or add a recipient (using their enrolled email or U.S. mobile number), enter the amount, and confirm.
Key consideration: Zelle is designed for trusted individuals. Only send money to people you know and trust.
Step 8: Consider Third-Party Apps (with caution)
While not directly moving money to Ally Bank, some third-party payment apps like Venmo, Apple Pay, Google Pay, or Cash App allow you to link your bank accounts and then transfer funds.
How it works: You would typically receive money into one of these apps, then initiate a transfer from the app to your linked Ally Bank account.
Important: Be mindful of potential fees and transfer times associated with these apps. Some offer "instant" transfers for a small fee, while standard transfers can take 1-3 business days.
By following these steps, you can confidently and securely move your money to Ally Bank, taking full advantage of their online banking services. Remember to always double-check account numbers and routing numbers to ensure your funds reach the correct destination!
10 Related FAQ Questions
How to find my Ally Bank routing number?
Your Ally Bank routing number is 124003116. It's the same for all Ally Bank accounts.
How to link an external account to Ally Bank?
You can link an external account by logging into your Ally Bank online banking, navigating to "Transfers," and selecting "+ Link other accounts." You'll need the external account's routing and account number, and may need to verify micro-deposits.
How to set up direct deposit to my Ally Bank account?
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 deposit a check using the Ally Bank mobile app?
Endorse your check with your signature and "For Mobile Deposit Only," then use the Ally Mobile App's "Deposit Checks" feature to snap photos of both sides and enter the amount.
How to send money from Ally Bank to another bank?
Log in to Ally Bank online banking, go to "Transfers," select "Bank Transfers," choose your Ally account as the source and your linked external account as the destination, then enter the amount and confirm.
How to receive a wire transfer at Ally Bank?
Provide the sender with Ally Bank's routing number (124003116), your specific Ally Bank account number, and your name as it appears on the account. Check Ally's website for specific incoming wire instructions.
How to deposit cash into Ally Bank?
Ally Bank is an online-only bank and does not accept cash deposits directly. You'll need to deposit cash at another bank (if you have an account there) and then transfer the funds to Ally via ACH or wire.
How to check the status of a transfer to Ally Bank?
You can typically check the status of your transfers within the "Transfers" or "Activity" section of your Ally Bank online banking or mobile app. You'll often receive email notifications regarding deposit status.
How to get physical deposit slips for Ally Bank?
You can order free deposit slips through the Ally Bank mobile app or by logging into your account on ally.com and navigating to the "Deposits" or "Check Deposits" section.
How to use Zelle with Ally Bank?
Enroll in Zelle through your Ally Bank online banking or mobile app by linking your U.S. mobile number or email. Once enrolled, you can send or receive money to/from other Zelle users by using their enrolled email or mobile number.
