It's fantastic that you're considering opening an Ally Bank account! You're making a smart move towards a potentially more rewarding banking experience with an online-focused institution known for its competitive rates and low fees. Many people find Ally's digital-first approach incredibly convenient, and you're about to discover why. Let's get you set up, step by step!
How to Create an Ally Bank Account: Your Comprehensive Guide
Ally Bank offers a streamlined online application process, making it surprisingly easy to open an account from the comfort of your home. Before we dive into the steps, let's gather what you'll need.
Pre-Application Checklist: What You'll Need
Before you start, make sure you have the following information and items readily available. This will ensure a smooth and quick application:
Your Social Security Number (SSN): This is a federal requirement for identification.
Your Date of Birth: You must be 18 years or older to open an account.
Your Full Name and Contact Information: This includes your current residential street address (P.O. Boxes are generally not accepted for residential addresses), mailing address (if different), email address, and primary phone number.
Previous Residential Address (if applicable): If you've lived at your current address for less than five years, you might need to provide your previous one.
Employment Information: Your occupation and employer (or specify if retired, homemaker, unemployed, or student).
Mother's Maiden Name and a Security Question/Answer: For identity verification.
Information for Joint Account Holders (if applicable): If you're opening a joint account, you'll need similar personal details for the other applicant(s).
A Way to Fund Your Account: While there's no minimum deposit required to open most Ally accounts, you'll eventually need to fund it. Be prepared with details for an external bank account (routing and account number) for an online transfer, or plan for direct deposit, mobile check deposit, or mailing a check.
Step 1: Get Started on the Ally Bank Website – Are You Ready to Revolutionize Your Banking?
The first and most crucial step is to visit the official Ally Bank website. This is where your journey to smarter banking begins!
Navigate to Ally.com: Open your web browser and type in
www.ally.com.Locate the "Open Account" Button: On the Ally homepage, you'll typically find a prominent button that says "Open Account" or similar. It's usually in the top right corner or central to the page. Click on it to start the application process.
Step 2: Choose Your Account Type – What's Your Financial Goal?
Ally Bank offers a variety of accounts to suit different financial needs. This step is about selecting the one that best fits you.
Explore Account Options: Ally will present you with various deposit account types:
Spending Account (Checking): An interest-bearing checking account with no monthly fees, a debit card, and access to a large ATM network. This is often the primary account people open.
Online Savings Account: Known for its competitive interest rates and features like "Buckets" and "Boosters" to help you organize and maximize your savings.
Money Market Account: A hybrid that offers competitive rates like a savings account but with some checking features, including a debit card and checks.
Certificates of Deposit (CDs): For setting aside money for a fixed period to earn higher, guaranteed rates.
IRAs (Individual Retirement Accounts): For retirement savings.
Select Your Desired Account: Carefully review the features and benefits of each account type before making your selection. For most users, starting with a Spending Account or an Online Savings Account is common.
Indicate New or Existing Customer: You'll be asked if you're an existing Ally Bank customer. Select "No" or "Open New Account" if this is your first time.
Step 3: Provide Your Personal Details – Accuracy is Key!
This is where you'll input all the personal information you gathered in your checklist. Ally Bank, like all financial institutions, is required by federal law (the USA PATRIOT Act) to verify your identity.
Primary Account Holder Information: Fill in all the requested details for yourself, the primary account owner. This includes:
Full Name
Date of Birth
Social Security Number
Residential Street Address (and previous if applicable)
Mailing Address (if different)
Email Address
Primary Phone Number
Occupation/Employment Information
Joint Account Holders (Optional): If you're opening a joint account, you'll be prompted to add additional account owners. Be prepared to provide their full personal information as well.
Security Questions: You'll be asked to set up security questions and answers, including your mother's maiden name, which are crucial for identity verification when you contact customer service.
Review and Confirm: Before moving forward, take a moment to meticulously review all the information you've entered for accuracy. Any typos or incorrect details could lead to delays in your application.
Step 4: Review and Submit Your Application – The Finish Line is in Sight!
You're almost there! This step involves reviewing your application summary and giving your consent.
Application Summary: Ally will present a summary of your application, including the account type, your personal details, and any disclosures.
Read Disclosures: It is highly recommended that you read all the terms and conditions, privacy policies, and account agreements. These documents contain important information about your account, fees (or lack thereof), and how Ally operates.
Consent and Submit: Once you're satisfied with everything, you'll typically need to check a box indicating you've read and agree to the terms, and then click "Submit Application."
Step 5: Funding Your New Account – Bringing Your Account to Life!
Congratulations! Your application has been submitted. Now, it's time to put money into your new Ally Bank account.
Initial Deposit Options: Ally will present you with several ways to fund your account.
Electronic Transfer (ACH) from Another Bank: This is often the quickest and easiest method. You'll need the routing and account number of your external bank account. Ally will usually initiate a small "test" deposit and withdrawal to verify the account, which might take a day or two.
Direct Deposit: You can set up direct deposit with your employer. Ally often provides a pre-filled direct deposit form that you can give to your employer's payroll department.
Mobile Check Deposit: Using the Ally mobile app, you can snap a picture of a check to deposit it directly into your account. Remember to endorse the back of the check with "For Mobile Deposit Only" and your signature.
Mail a Check: You can mail a check to Ally Bank. They will provide the mailing address.
Wire Transfer: While possible, wire transfers typically incur fees from the originating bank.
No Minimum Opening Deposit: A great perk of Ally is that there's no minimum deposit required to open many of their accounts. You can fund it with any amount once it's open.
Fund Faster, Earn Sooner: Ally encourages you to fund your account quickly, as this is when you'll start earning interest and, for a Spending Account, receive your debit card.
Step 6: Confirm and Access Your Account – Welcome to Ally!
Once your account is open and funded, you'll gain full access.
Confirmation Email: You'll typically receive an email confirmation that your account has been successfully opened.
Set Up Online Access: If you haven't already, you'll be prompted to set up your username and password for online banking and the mobile app.
Explore Your Account: Log in to your new Ally Bank account online or via the mobile app. Take some time to explore the features:
Online Bill Pay: Set up recurring payments.
Transfer Funds: Easily move money between your Ally accounts or to/from external accounts.
Mobile App Features: Discover mobile check deposit, budgeting tools like "Buckets" and "Boosters" (for savings accounts), and more.
Debit Card and Checks: If you opened a Spending or Money Market account, your debit card and initial checks will be mailed to you within a few business days.
Congratulations! You've Opened Your Ally Bank Account!
You're now part of a growing number of people who enjoy the benefits of online banking with Ally. Their commitment to competitive rates, low fees, and user-friendly digital tools makes them a popular choice. Enjoy your new banking experience!
10 Related FAQ Questions
How to fund my Ally Bank account?
You can fund your Ally Bank account via electronic transfer (ACH) from an external bank, direct deposit from your employer, mobile check deposit using the Ally app, or by mailing a check. Wire transfers are also an option, though they may involve fees.
How to deposit cash into Ally Bank?
Ally Bank is an online-only bank and does not accept cash deposits directly. You would need to deposit cash into an account at another bank and then transfer the funds to your Ally account via an electronic transfer.
How to find my Ally Bank routing and account numbers?
You can easily find your Ally Bank routing and account numbers by logging into your online banking portal or the Ally mobile app. These details are typically displayed prominently on your account summary page.
How to set up direct deposit with Ally Bank?
Log in to your Ally Bank account online, go to the direct deposit page, and you can either digitally connect with your employer or payment provider, or download a pre-filled direct deposit form to provide to your payroll department.
How to use the Ally Bank mobile app for deposits?
To deposit a check using the Ally mobile app, log in, select your account, choose "Deposit Checks," then snap clear photos of the front and back of your endorsed check. Enter the amount, and submit. Remember to write "For Mobile Deposit Only" on the back.
How to transfer money from Ally Bank to another bank?
Log in to your Ally Bank account, go to the "Transfers" section, and select "External Transfers." You'll need to link your external bank account by providing its routing and account numbers if you haven't already. Then, you can initiate a transfer.
How to get cash from my Ally Bank account?
You can get cash from your Ally Bank Spending or Money Market account using your debit card at any Allpoint® or MoneyPass® ATM for free. Ally also reimburses up to $10 per statement cycle for fees charged at other ATMs nationwide. You can also get cash back when making purchases with your debit card.
How to contact Ally Bank customer service?
Ally Bank offers 24/7 customer service. You can typically find their phone number (often 1-877-247-2559) on their website or by logging into your account. They also offer online chat and email support.
How to check my Ally Bank account balance?
You can check your Ally Bank account balance at any time by logging into your online banking portal on their website or through the Ally mobile app. The balance will be clearly displayed on your account dashboard.
How to close an Ally Bank account?
To close an Ally Bank account, you will typically need to contact their customer service directly via phone or secure message through your online banking portal. Make sure your account balance is zero before initiating the closure.
