Feeling like your money is stuck in a digital vault and you're not sure how to get it into your Ally Bank account? Don't worry, you're not alone! Many people new to online-only banking wonder about the best ways to deposit funds. The good news is that Ally Bank offers several convenient and secure methods to help you manage your money, often without ever needing to step foot in a physical branch.
This comprehensive guide will walk you through each method, step-by-step, ensuring you can confidently deposit funds into your Ally Bank account. Let's dive in!
Understanding Ally Bank's Online-First Approach
Ally Bank is an online-only bank, which means it doesn't have traditional physical branches like many other banks. While this offers benefits like competitive interest rates and low fees, it also means the ways you interact with your money are different. Forget about handing cash over to a teller; instead, you'll be using digital tools and other convenient services.
Step 1: Choosing Your Deposit Method – What Kind of Money Do You Have?
The first crucial step is to identify what kind of money you want to deposit. Is it a paper check? Is it your paycheck? Do you have cash? Understanding your source of funds will help you select the most appropriate and efficient deposit method.
Sub-heading: Quick Glance at Deposit Options:
Paper Checks: Best handled via Mobile Check Deposit (eCheck Deposit℠) or by mail.
Paychecks/Regular Income: Ideal for Direct Deposit.
Money from another Bank Account: Use Electronic Transfers (ACH).
**Large Sums (urgent):** Wire Transfers.
Cash: This is where Ally is a bit different. Ally Bank does not accept cash deposits directly. You'll need to use a workaround for cash.
Step 2: Depositing Paper Checks – The Ally eCheck Deposit℠
Ally eCheck Deposit℠ is arguably the most popular and convenient way to deposit paper checks. All you need is your smartphone and the Ally Mobile App.
Sub-heading: What You'll Need:
A smartphone with the Ally Mobile App installed.
A good internet connection.
The paper check you wish to deposit.
Proper lighting for clear photos.
Sub-heading: The Easy Steps for Mobile Check Deposit:
Open the Ally Mobile App: Log in to your Ally Bank account on your smartphone.
Select "Deposit Checks": From your account dashboard, you'll typically find an option like "Deposit Checks" or "eCheck Deposit" within the menu or directly on your account summary.
Choose Your Account: Select the Ally Bank account (Spending, Savings, or Money Market) where you want the funds to be deposited.
Enter the Check Amount: Carefully input the exact dollar amount of the check. Double-check this to avoid errors.
Prepare Your Check for Photo:
Endorse the Back: Crucially, you must endorse the back of your check. This means signing your name (or all payees' names if it's a joint check).
Write "For Mobile Deposit Only": Below your signature, clearly write "For Mobile Deposit Only." This is a security measure and ensures your deposit is processed correctly. Some sources also recommend adding your Ally account number.
Find a Good Spot: Place the check on a dark, non-reflective background in a well-lit area. Ensure there are no shadows covering the check.
Take Pictures of the Check:
Front: Using the app's camera function, take a clear picture of the front of the check. Make sure all four corners are visible, and all information (payee, amount, routing, and account numbers) is readable. The app often auto-captures when it detects a clear image.
Back: Flip the check over and take a clear picture of the back, ensuring your endorsement and "For Mobile Deposit Only" are clearly visible.
Review and Submit: The app will show you the images and the amount. Review everything carefully for accuracy. If satisfied, tap "Submit Deposit."
Confirmation: You'll receive a confirmation message in the app, and often an email, letting you know your deposit has been submitted.
Sub-heading: Important Notes on Mobile Check Deposits:
Deposit Limits: Ally eCheck Deposit℠ has limits. You can typically deposit up to $50,000 in a single day and up to $250,000 every 30 calendar days.
Funds Availability: The first $300 of your deposit is often available the next business day if deposited before 7 PM ET. The remainder usually becomes available on the second business day, and amounts over $25,000 on the fifth business day.
Keep the Check: It's a good practice to keep the physical check in a safe place for a short period (e.g., 14 days) after the deposit has been confirmed, just in case there are any issues. After that, you can securely shred it.
Step 3: Setting Up Direct Deposit – Your Paycheck, Automatically
Direct Deposit is the easiest and most reliable way to get your regular income, like paychecks or government benefits, into your Ally Bank account. It's automatic, secure, and can even get your paycheck up to two days early with Ally's early direct deposit feature.
Sub-heading: What You'll Need:
Your Ally Bank account number.
Ally Bank's routing number (124003116).
Your employer's or payment provider's direct deposit form or access to their online portal.
Sub-heading: Steps to Set Up Direct Deposit:
Gather Your Ally Bank Information:
Log in to your Ally Bank account online or via the app.
Find your account number for the specific account you want to use (Checking, Savings, or Money Market).
Note down the Ally Bank routing number: 124003116.
Obtain Your Employer's Direct Deposit Form (or use their online portal):
Most employers have a direct deposit form you'll need to fill out. You can also often access this through your employer's HR or payroll portal online.
Ally Bank also provides a pre-filled direct deposit form on their website (search "Ally Bank Direct Deposit Form") that you can download, print, and give to your employer. This form includes all the necessary Ally Bank details.
Fill Out the Direct Deposit Form:
Provide your personal information (name, address, etc.).
Enter Ally Bank's name.
Input the routing number (124003116).
Enter your specific Ally Bank account number.
Indicate the type of account (Checking, Savings, or Money Market).
Specify the deposit amount (e.g., entire net pay, a fixed dollar amount, or a percentage). If you want to split your direct deposit across multiple accounts (e.g., part to checking, part to savings), your employer's form might allow this.
Submit the Form: Return the completed and signed direct deposit form to your employer's payroll department or submit it through their online system.
Confirmation and Waiting Period: It typically takes 1-2 pay periods for direct deposit to take effect. Continue to monitor your account and traditional paycheck (if applicable) until you see the direct deposit come through.
Sub-heading: Ally App's Automated Direct Deposit Setup:
Ally Bank has made it even easier! You may be able to set up direct deposit right from the Ally app:
Log in to the Ally Mobile App.
Navigate to the direct deposit settings page.
Search for your employer and connect directly. This can automate much of the process.
Step 4: Electronic Transfers (ACH) – Moving Money Between Banks
Electronic transfers, also known as Automated Clearing House (ACH) transfers, are perfect for moving money between your Ally Bank account and an account you hold at another financial institution. These are typically free and take a few business days to process.
Sub-heading: How to Set Up an External Transfer (from Ally):
Log in to your Ally Bank account (online banking or mobile app).
Navigate to the "Transfers" or "Transfer Money" section.
Select "External Transfer" or "Transfer to Another Bank."
Add Your External Account: If you haven't already, you'll need to link your external bank account. This usually involves providing:
The other bank's name.
The other bank's routing number.
Your account number at the other bank.
The type of account (checking or savings).
Verification: Ally Bank may verify account ownership by sending two small "micro-deposits" to the external account. You'll then need to confirm these amounts in your Ally account. This typically takes 1-3 business days.
Initiate the Transfer: Once the external account is linked and verified:
Choose the Ally account you want to transfer from and the external account you want to transfer to.
Enter the amount you wish to transfer.
Select the frequency (one-time or recurring).
Choose the date of the transfer.
Review and Confirm: Double-check all details and then submit your transfer.
Sub-heading: How to "Pull" Money into Ally (from another bank):
You can also often initiate an ACH transfer from your other bank's online banking platform to "pull" money into your Ally Bank account. The process is similar:
Log in to your other bank's online banking.
Look for "External Transfers" or "Link External Account."
You'll need to provide your Ally Bank routing number (124003116) and your specific Ally account number.
Follow their verification process (often micro-deposits).
Once linked, you can initiate transfers from that bank to your Ally account.
Sub-heading: ACH Transfer Timing:
Standard ACH transfers usually take 3 business days to process.
Some accounts may be eligible for next-day transfers based on account tenure and activity.
Step 5: Wire Transfers – For Urgent or Large Sums
Wire transfers are typically used for time-sensitive or large-value deposits, as they are processed much faster than ACH transfers, often on the same day. While Ally Bank doesn't charge for incoming domestic wire transfers, the sending institution usually will.
Sub-heading: Information Needed for Incoming Domestic Wire Transfer to Ally:
If someone is sending you a wire transfer, they will need the following information:
Bank Name: Ally Bank
Routing Number (ABA): 124003116
Beneficiary Name: Your Full Name (as it appears on your Ally Bank account)
Beneficiary Address: Your Address
Beneficiary Account Number: Your Ally Bank Account Number
Type of Account: (e.g., Checking, Savings)
Sub-heading: Key Considerations for Wire Transfers:
Fees: While Ally doesn't charge for incoming domestic wires, the sending bank will likely have a fee (which the sender pays).
Speed: Wire transfers are generally much faster than ACH, often arriving within the same business day if sent during banking hours.
Irreversibility: Wire transfers are largely irreversible once sent, so ensure all details are accurate.
Step 6: Depositing Cash – The Indirect Approach
As an online-only bank, Ally Bank does not have physical branches and therefore does not accept cash deposits directly. This is a common question and a key difference from traditional banks. However, there are workarounds:
Sub-heading: Workarounds for Cash Deposits:
Deposit at a Traditional Bank, then Transfer:
The Most Common Method: If you have a traditional bank account (even one you rarely use), deposit the cash there.
Once the cash is available in that account, initiate an electronic transfer (ACH) from that bank to your Ally Bank account (as described in Step 4). This is the most straightforward and reliable method.
Purchase a Money Order:
Use your cash to purchase a money order at a post office, grocery store, or other authorized location.
Then, use the Ally eCheck Deposit℠ feature (Step 2) to deposit the money order as if it were a regular check. Be sure to endorse it properly.
Third-Party Services (Caution Advised):
Some users have explored services like Green Dot MoneyPak or similar cash-loading services. However, these often come with fees and can sometimes be less reliable or have lower limits. Always research and proceed with caution when using third-party services for cash deposits.
ATM Deposits (Limited Availability):
Ally Bank is part of the Allpoint® ATM network for surcharge-free withdrawals.
However, only a select number of Allpoint ATMs, specifically those with the "Allpoint+" designation, accept cash deposits. These are not widely available and often found at specific retailers like CVS or Walgreens in major metro areas.
How to find them: Use the Allpoint ATM locator and filter for Allpoint+ locations if you want to try to deposit cash this way. It's best to confirm with Ally Bank or Allpoint if your debit card participates in Allpoint+ cash deposits.
Limitations: Even at Allpoint+ ATMs, there might be transaction limits for cash deposits.
Remember: If you frequently handle cash, having a secondary account at a brick-and-mortar bank or credit union might be a convenient solution for cash deposits, which you can then transfer to Ally.
Step 7: Depositing Checks by Mail
While less common now with mobile deposit, you can still mail checks to Ally Bank for deposit. This is a good option for large checks that exceed mobile deposit limits or if you prefer a traditional mail method.
Sub-heading: How to Mail a Check to Ally Bank:
Endorse Your Check: Sign the back of the check. It's also a good idea to write "For Deposit Only" and your Ally Bank account number below your signature.
Include a Deposit Slip (Optional but Recommended): You can order deposit slips from Ally Bank through their online banking or by calling customer service. While not strictly required, including one helps ensure your deposit is credited correctly.
Package Securely: Place the endorsed check and deposit slip in a sturdy envelope.
Mail To:
Ally Bank ATTN: Deposit Operations P.O. Box 13625 Philadelphia, PA 19101-3625Keep Records: Make a copy of the check for your records before mailing it.
Sub-heading: Important Notes on Mailed Checks:
No Dollar Limit: There is no dollar deposit limit on mailed checks.
Processing Time: Mailed checks will take longer to process due to mailing time. Once received, funds availability rules similar to mobile deposits will apply.
Frequently Asked Questions (FAQs)
Here are 10 related FAQ questions to help you further navigate depositing money into your Ally Bank account:
How to check my Ally Bank routing number?
Your Ally Bank routing number is 124003116. You can also find it by logging into your Ally online banking or mobile app, usually on your account details page, or on a voided check if you have one.
How to know if my mobile check deposit was accepted?
You will typically receive an email alert from Ally Bank confirming that your eCheck Deposit has been accepted. You can also view your eCheck Deposit activity within the Ally Mobile App under "View Scheduled Activity" or "History" to see its status.
How to find an ATM for cash deposits with Ally Bank?
Ally Bank uses the Allpoint+ ATM network for cash deposits. To find one, use the Allpoint ATM locator online and filter specifically for "Allpoint+" locations. These are limited and primarily found at select retail stores in major metropolitan areas.
How to set up recurring transfers to Ally Bank from another bank?
Log in to your Ally Bank account, go to the "Transfers" section, and select "External Transfer." After linking your external account (if you haven't already), you'll have the option to set the transfer frequency to "Recurring" and choose your desired schedule.
How to deal with deposit limits for mobile checks?
If your check exceeds Ally's mobile eCheck Deposit limits ($50,000 daily or $250,000 every 30 days), you can choose to mail the check to Ally Bank for deposit. There is no dollar limit for mailed checks.
How to get an early paycheck with Ally Bank?
To get your paycheck up to two days early, set up direct deposit to your Ally Bank Spending Account. Ally processes eligible direct deposits as soon as they receive the payment details, which can be up to two days before your official payday.
How to get deposit slips or envelopes from Ally Bank?
You can order deposit slips and envelopes through your Ally Bank online banking or the Ally Mobile App. Log in, navigate to your account, and look for an option like "Order Deposit Slips & Envelopes." You can also call Ally's customer service for assistance.
How to deposit a check that is not payable to me into my Ally Bank account?
Ally Bank generally requires checks to be payable to the account holder(s). If a check is not payable to you, you may not be able to deposit it. Consult with the check issuer to have it reissued in your name, or consider if the check can be properly endorsed over to you by the original payee, though Ally might have specific rules on third-party endorsements.
How to verify an external account for transfers with Ally Bank?
When linking an external account for transfers, Ally Bank often uses "micro-deposits." They will send two small, random amounts (e.g., $0.15 and $0.23) to your external account. You will then need to log back into Ally and confirm these exact amounts to verify ownership. This process usually takes 1-3 business days.
How to contact Ally Bank for deposit assistance?
You can contact Ally Bank's customer service 24/7 by calling 1-877-247-2559. You can also find help and chat options through their website or mobile app's "Help & FAQs" section.