Hold on a moment! Before we dive deep into the "how-to," there's a crucial piece of information you need to know about depositing cash with Ally Bank.
Ally Bank is an online-only bank, which means they do not have physical branches where you can walk in and deposit cash directly.
This is a common question, and it's important to set the right expectation upfront. While you can't literally hand over physical cash to Ally Bank, there are several indirect ways to get cash into your Ally account. This guide will walk you through those methods, ensuring your money makes its way to where it needs to be!
How to Get Cash into Your Ally Bank Account (Indirectly)
Since Ally Bank operates without traditional brick-and-mortar branches, depositing physical cash directly isn't an option. However, there are effective workarounds to get your cash converted into a deposit that Ally Bank can accept. Let's explore these step-by-step.
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| How To Deposit Cash With Ally Bank |
Step 1: Understand Ally Bank's Deposit Capabilities
First, let's clarify what Ally Bank does accept as deposits. They are set up for digital and electronic transactions.
Checks: This is one of the most common ways to deposit funds with Ally.
Electronic Transfers: This includes direct deposits, ACH transfers from other banks, and wire transfers.
Mail: You can also mail checks to Ally Bank.
Knowing this will help you choose the best indirect method for your cash.
QuickTip: Stop to think as you go.
Step 2: Convert Your Cash into a Deposit-Ready Format
This is the core of "depositing cash" with Ally. You need to turn your physical cash into a form that Ally Bank can process. Here are the primary methods:
Sub-heading 2.1: Using a Money Order or Cashier's Check
This is often the most straightforward and secure way to convert cash into a deposit-ready instrument.
Locate a Retailer or Bank that Sells Money Orders/Cashier's Checks:
Where to go: You can typically purchase money orders at post offices, many grocery stores, convenience stores (like Walmart or CVS), and Western Union or MoneyGram locations. For cashier's checks, you'll need to go to a traditional bank or credit union where you or a friend/family member might have an account.
What to bring: Bring the exact amount of cash you want to convert, plus a small fee for the money order (usually under $2-$5) or a slightly higher fee for a cashier's check (can range from $5-$25). You might also need a valid ID.
Purchase the Money Order or Cashier's Check:
Make it payable to yourself: Ensure the money order or cashier's check is made payable to you, exactly as your name appears on your Ally Bank account. This is crucial for successful deposit.
Keep the receipt: Always keep the receipt or stub from your money order or cashier's check until the funds have cleared in your Ally account. This serves as proof of purchase and includes tracking information.
Deposit the Money Order/Cashier's Check with Ally Bank:
Mobile Deposit (Ally eCheck Deposit℠): This is generally the quickest method.
Open the Ally Mobile App.
Log in to your account.
Select the account you wish to deposit into.
Choose "Deposit Checks" (or similar option).
Endorse the back: Sign the back of the money order/cashier's check and write "For Mobile Deposit Only" below your signature.
Take clear photos of the front and back of the endorsed check using the app's camera feature.
Enter the deposit amount and confirm.
Mail Deposit: If the amount exceeds mobile deposit limits or you prefer, you can mail the check.
Endorse the back: Sign the back of the money order/cashier's check and write "For Deposit Only to Ally Account #[Your Account Number]" below your signature.
Place the money order/cashier's check in a secure envelope.
Mail it to Ally Bank's designated deposit address (usually found in your online account or by contacting customer service). Ally Bank often provides postage-paid envelopes upon request.
Sub-heading 2.2: Depositing Cash at a Different Bank Account
If you have an account with another traditional bank or credit union that accepts cash deposits, you can use that as an intermediary.
Deposit Cash into Your Other Bank Account:
Visit a branch or ATM of your other bank and deposit the cash directly into that account.
Transfer Funds to Ally Bank:
Once the cash has cleared in your other bank account, you can initiate an electronic transfer (ACH transfer) to your Ally Bank account.
Online Banking: Log in to your other bank's online portal. Look for options like "Transfers" or "External Transfers." You'll need to link your Ally Bank account by providing Ally's routing number and your Ally account number.
Ally Bank Initiated Transfer: You can also initiate an external transfer from your Ally Bank account, pulling funds from your other bank. Log in to Ally online, go to "Transfers," and add your external account.
Sub-heading 2.3: Using Allpoint+ ATMs (Limited Availability for Deposits)
Tip: Take your time with each sentence.
While Ally Bank uses the Allpoint network for surcharge-free withdrawals, some select Allpoint+ ATMs now offer cash deposit capabilities. This is not universal across all Allpoint ATMs, and its availability depends on whether your specific card provider (Ally Bank in this case) participates in Allpoint+ for cash deposits.
Check for Allpoint+ ATM Availability:
Use the Allpoint ATM locator: Visit the Allpoint website or use their mobile app. Filter your search for "Allpoint+ locations" or ATMs that accept deposits.
Confirm with Ally Bank: It's highly recommended to contact Ally Bank directly (via phone or secure message) to confirm if their debit cards are enabled for cash deposits at Allpoint+ ATMs before you attempt this method. As of current information, Ally Bank generally states they do not accept cash deposits, and while Allpoint+ enables it, the financial institution must opt-in.
If Confirmed and Available:
Locate an Allpoint+ ATM that supports cash deposits for Ally Bank.
Follow the on-screen instructions at the ATM to deposit your cash.
Keep your receipt: Always retain the ATM receipt as proof of your transaction.
Sub-heading 2.4: Utilizing Green Dot MoneyPak (Consider Alternatives First)
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Green Dot MoneyPak allows you to add cash to eligible debit cards, including some bank debit cards. However, it comes with fees and potential limits, and there might be more convenient methods.
Purchase a MoneyPak:
Find a participating retailer (e.g., Walmart, CVS, 7-Eleven) that sells Green Dot MoneyPak cards.
Purchase a MoneyPak for the amount of cash you wish to deposit (plus a flat fee, usually $5.95). Keep in mind there are limits to how much you can load onto a MoneyPak.
Activate and Load Online:
Go to MoneyPak.com and create a secure login (first-time users).
Enter the MoneyPak number found on the back of the card.
Enter your Ally Bank debit card number to deposit the funds.
Verify Deposit:
Check your Ally Bank account activity to ensure the funds have been successfully deposited.
Note: Always exercise caution with third-party cash loading services. Ensure you are on the legitimate MoneyPak website and are aware of all fees and limits.
Step 3: Monitor Your Deposit and Funds Availability
Regardless of the method you choose, it's crucial to track your deposit.
Check Your Ally Account Online or via App: Regularly log in to your Ally Bank account to see if the deposit has posted.
Funds Availability:
Mobile Check Deposits (including money orders/cashier's checks): Funds from mobile deposits are generally available by the second business day after the deposit. Larger amounts (e.g., over $50,000 in a single day or $250,000 every 30 days) might have longer holds.
Electronic Transfers (ACH): These typically take 1-3 business days to clear.
Mailed Checks: Funds from mailed checks can take longer, generally available within 2-5 business days after Ally receives them.
Ally will notify you: If there's a delay in funds availability, Ally Bank will typically notify you.
Be patient, as processing times can vary depending on the chosen method and the time of day the transaction is initiated.
Tip: Take mental snapshots of important details.
Step 4: Keep Records and Contact Support if Needed
Maintain Records: Always keep receipts, confirmation numbers, and any other documentation related to your cash conversion and deposit until you confirm the funds are fully available in your Ally account.
Ally Bank Customer Service: If you encounter any issues or have questions, don't hesitate to contact Ally Bank's 24/7 customer service. You can reach them by phone, secure message through your online account, or online chat.
10 Related FAQ Questions:
How to deposit a personal check with Ally Bank?
You can deposit personal checks easily using Ally eCheck Deposit℠ via the Ally Mobile App (take photos of the front and back of the endorsed check) or by scanning and uploading images online. You can also mail checks to Ally Bank.
How to set up direct deposit to Ally Bank?
You can typically set up direct deposit by providing your employer or payer with Ally Bank's routing number and your Ally Bank account number. Ally Bank also has a direct deposit page to help you generate a pre-filled form.
How to transfer money from another bank to Ally Bank?
You can initiate an ACH transfer from your external bank account to Ally Bank, or you can set up an external account link within your Ally Bank online banking and pull funds from your other bank.
Tip: Use this post as a starting point for exploration.
How to send a wire transfer to Ally Bank?
You'll need to provide the sender with Ally Bank's wire transfer instructions, which include Ally's name, address, routing number, and your specific account number. These details can usually be found in your online Ally account.
How to find an ATM for Ally Bank withdrawals?
Ally Bank customers can use any ATM nationwide, and Ally will reimburse up to $10 per statement cycle for fees charged by other ATM owners. You can also use the Allpoint network (75,000+ ATMs) for surcharge-free withdrawals.
How to deposit money into an Ally Invest account?
Ally Invest (their brokerage arm) accepts deposits via electronic transfers (ACH), wire transfers, or by mailing checks. They generally do not accept third-party deposits, money orders, or starter checks.
How to get postage-paid envelopes from Ally Bank for mail deposits?
You can usually order postage-paid deposit envelopes directly through your Ally Bank online account or by contacting their customer service department.
How to check the status of a pending deposit with Ally Bank?
You can check the status of your deposits by logging into your Ally Mobile App or online banking portal and viewing your account activity or deposit history.
How to endorse a check for mobile deposit with Ally Bank?
For mobile deposits, you should sign the back of the check and write "For Mobile Deposit Only" below your signature.
How to resolve a deposit issue with Ally Bank?
If you encounter any issues with a deposit, immediately contact Ally Bank's 24/7 customer service via phone, secure message through your online account, or online chat. Have all relevant transaction details and receipts ready.
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