Transferring money to an Ally Bank account is a common need, whether you're consolidating your finances, paying a friend, or setting up direct deposits. Since Ally Bank is primarily an online bank, the methods for sending money differ slightly from traditional brick-and-mortar banks. This comprehensive guide will walk you through various ways to transfer funds to Ally, ensuring a smooth and secure transaction.
How to Send Money to Ally Bank: Your Complete Guide
Ready to get your money where it needs to be? Let's dive into the various methods for sending funds to an Ally Bank account. Don't worry, it's easier than you might think!
Step 1: Gathering Essential Information – The Foundation of a Smooth Transfer
Before you initiate any transfer, it's absolutely crucial to have the correct details for the recipient's Ally Bank account. This is the most important step to avoid delays or, worse, sending money to the wrong person.
Sub-heading: What You'll Absolutely Need
Recipient's Full Name: As it appears on their Ally Bank account.
Ally Bank Account Number: This is the specific account number where the money should be deposited.
Ally Bank Routing Number: This nine-digit code identifies Ally Bank for electronic transactions within the U.S. For Ally Bank, the routing number is generally 124003116. Always double-check with the recipient or Ally Bank's official website if you're unsure.
Recipient's Email or Phone Number (for Zelle/P2P services): If you're using a person-to-person payment service, you'll need the recipient's enrolled email address or U.S. mobile phone number.
Sub-heading: Why Accuracy Matters
Even a single incorrect digit in the account or routing number can cause significant issues, including delayed transfers, returned funds, or the money going to an unintended recipient. Always verify this information directly with the recipient.
Step 2: Choosing Your Transfer Method – Finding the Best Fit for Your Needs
There are several ways to send money to Ally Bank, each with its own advantages, speed, and potential costs. Let's explore the most common and reliable options.
Sub-heading: Method A: Electronic Transfers (ACH) – The Most Common Approach
This is the most frequent and usually free way to transfer money between U.S. bank accounts. ACH (Automated Clearing House) transfers are widely used for direct deposits, bill payments, and regular bank-to-bank transfers.
Initiating from Your External Bank:
Log In: Access your online banking portal or mobile app for the bank you're sending money from.
Find "External Transfers" or "Link Accounts": Look for an option like "Transfers," "External Accounts," "Link External Account," or "Add a Bank."
Add Ally Bank as an External Account: You'll typically need to provide Ally Bank's routing number (124003116) and the recipient's Ally Bank account number.
Verification Process: Your bank will usually initiate small "micro-deposits" (e.g., two small amounts like $0.15 and $0.23) into the Ally account. The recipient will need to verify these amounts with you, which you then enter back into your sending bank's portal to confirm the link. This verification process can take 1-3 business days.
Initiate the Transfer: Once verified, you can set up one-time or recurring transfers from your external bank to Ally Bank.
Timing: ACH transfers typically take 1-3 business days to process.
Initiating from Ally Bank (Pulling Funds):
Log In: Go to your Ally Bank online banking or mobile app.
Navigate to Transfers: Look for the "Transfers" section.
Set Up External Account: You'll need to add your external bank account as an linked account within Ally Bank. This process also involves micro-deposits for verification.
Initiate Transfer to Ally: Once your external account is linked, you can initiate a "pull" transfer from your external account into your Ally Bank account.
Timing: Similar to pushing funds, these transfers usually take 1-3 business days.
Sub-heading: Method B: Wire Transfers – For Urgent or Large Sums
Wire transfers are known for their speed but often come with a fee. They are typically used for large transactions or when funds need to arrive quickly.
Gathering Wire Transfer Information:
Beneficiary Bank Name: Ally Bank
Beneficiary Bank Address: (While often not strictly necessary for domestic wires, it's good to have) 1100 Virginia Drive, Fort Washington, PA, 19034
Ally Bank Routing Number (Wire): 124003116
Beneficiary Account Name: The full name of the recipient as it appears on their Ally Bank account.
Beneficiary Account Number: The recipient's Ally Bank account number.
Important Note for Incoming Wires to Ally: Ally Bank uses JP Morgan Chase Bank, N.A. as an intermediary for incoming wire transfers. Therefore, the SWIFT code for incoming international wires, or sometimes even for domestic wires if routed through the intermediary, will be CHASUS33. The Beneficiary Account Number in this case would be 802904391 for Ally Bank's account at Chase, with further credit to the specific Ally account number and name of the recipient. It's always best for the recipient to provide their specific incoming wire instructions from Ally.
Initiating the Wire Transfer:
Through Your Bank: Visit your local bank branch, or use your online banking portal if it offers wire transfer services.
Provide Details: Fill out the wire transfer form with all the collected information.
Fees: Expect a fee for outgoing domestic wire transfers (Ally Bank charges $20 for outgoing domestic wires, but incoming domestic wires are free). Fees vary by bank for outgoing wires.
Cut-off Times: Be aware of your sending bank's daily cut-off times for wire transfers. Transfers initiated after the cut-off may be processed the next business day.
Timing: Wire transfers are typically completed within the same business day if initiated before the cut-off time.
Sub-heading: Method C: Person-to-Person (P2P) Payment Services – For Quick & Convenient Transfers
Services like Zelle are excellent for sending money to friends and family quickly and easily, often without fees.
Using Zelle:
Enrollment: Both the sender and recipient need to be enrolled in Zelle through their respective banks. If Ally Bank offers Zelle (which it does), the recipient would enroll their Ally account.
Find Zelle in Your Banking App: Most major U.S. banks, including Ally, integrate Zelle directly into their mobile banking app or online portal.
Send Money: Select "Send Money" or "Zelle," choose or add the recipient using their enrolled email address or U.S. mobile phone number. Enter the amount.
Limits: Be aware of daily sending limits. For Ally, the daily Zelle limit for instant transfers is typically $2,000, and $5,000 for scheduled transfers (up to 3 business days).
Timing: Funds typically arrive within minutes if both parties are enrolled. If the recipient isn't enrolled, they'll receive a notification to enroll to claim the funds.
Other P2P Services (e.g., Venmo, PayPal):
While not directly tied to bank transfers in the same way as Zelle, you can send money via services like Venmo or PayPal to someone's linked Ally Bank account.
Link Ally Account: The recipient would need to link their Ally Bank account to their Venmo or PayPal profile.
Send Funds: You send money to their username, email, or phone number within the app.
Withdrawal: The recipient then "cashes out" or transfers the funds from their Venmo/PayPal balance to their linked Ally Bank account.
Fees & Timing: Fees and transfer times vary based on the service and whether instant transfers are chosen (which often incur a small fee). Standard transfers from these apps to a bank account can take 1-3 business days.
Sub-heading: Method D: Direct Deposit – For Regular Income or Benefits
If you're setting up regular payments like your salary, government benefits, or recurring payments to someone, direct deposit is the most efficient.
Obtain Direct Deposit Information: The recipient will need to provide you with a Direct Deposit Form or the necessary details. This typically includes:
Ally Bank Routing Number: 124003116
Recipient's Ally Bank Account Number
Recipient's Full Name
Complete the Form: Fill out your employer's or the payment provider's direct deposit authorization form with these details.
Submit the Form: Return the completed form to your payroll department or the relevant payment provider.
Timing: Once set up, direct deposits usually arrive on the scheduled payment date. Initial setup might take one or two pay cycles to become effective.
Sub-heading: Method E: Depositing Checks (via Mobile or Mail)
While not "sending money" in the traditional sense, if you have a physical check, you can still get those funds into an Ally Bank account.
Ally eCheck Deposit (Mobile Deposit):
Endorse the Check: The recipient should endorse the back of the check with their signature, their Ally Bank account number, and "For Mobile Deposit Only."
Use the Ally Mobile App: Open the Ally Bank mobile app.
Select "Deposit Checks": Follow the prompts to take photos of the front and back of the endorsed check.
Limits: Ally eCheck Deposit allows up to $50,000 in a single business day and up to $250,000 every 30 calendar days.
Timing: Funds are typically available within 1-2 business days, though larger checks or new accounts might have longer holds.
Mail the Check:
Endorse the Check: The recipient should endorse the check clearly.
Mail to Ally Bank: Mail the check to the address provided by Ally Bank for check deposits.
Timing: This is the slowest method, as it depends on mail delivery time and then processing time by Ally Bank once received.
Step 3: Verification and Confirmation – Ensuring Your Money Arrives
Once you've initiated a transfer, it's good practice to confirm its successful completion.
Check Your Sending Account: Verify that the funds have been debited from your account.
Confirm with Recipient: Have the recipient check their Ally Bank account to confirm the funds have been received.
Transaction History: Review your transaction history in your banking app or online portal for details and status updates.
Step 4: Troubleshooting Common Issues – What to Do If Things Go Wrong
Even with careful planning, sometimes issues arise. Here are a few common scenarios and what to do:
Delayed Transfer:
Check processing times: ACH transfers take 1-3 business days. Wires are typically same-day.
Verify information: Double-check account numbers and routing numbers.
Contact your bank: If the transfer is outside the expected timeframe, contact your sending bank's customer service.
Incorrect Account Number:
Act immediately: Contact your sending bank as soon as possible. They may be able to recall the funds, especially if the account number is invalid (funds will usually bounce back). If the funds went to an active, incorrect account, recovery can be much more challenging and may require the cooperation of the unintended recipient.
Fees Higher Than Expected:
Review fee schedule: Check your bank's fee schedule for transfers. Wire transfers almost always have fees.
Zelle Payment Not Received:
Check enrollment: Ensure the recipient is enrolled in Zelle with the email or phone number you used.
Verify details: Confirm the email or phone number was correct.
Contact Zelle support: If issues persist, contact Zelle customer support or your bank's Zelle support.
10 Related FAQ Questions: How To Send Money to Ally Bank
Here are some quick answers to common questions about sending money to Ally Bank:
How to Find Ally Bank's Routing Number?
Ally Bank's general routing number for ACH and wire transfers is 124003116. It's always best to confirm with the recipient or Ally Bank directly for specific needs.
How to Send Money to Ally Bank from Another Bank?
You can send money via ACH transfer by linking your external bank account to your Ally Bank account (either by pushing from your external bank or pulling from Ally Bank), or by initiating a wire transfer through your external bank.
How to Send Money to Ally Bank Using Zelle?
Both you and the recipient need to be enrolled in Zelle through your respective banks. You can then send money using the recipient's enrolled email address or U.S. mobile phone number within your bank's Zelle service.
How to Deposit Cash to Ally Bank?
Ally Bank does not accept cash deposits directly. You can, however, deposit a check to your Ally account using the Ally eCheck Deposit (mobile app) or by mailing the check. For cash, you would typically need to deposit it into an account at another bank and then transfer it to Ally. Some Allpoint+ ATMs may allow cash deposits, but you need to verify if your Ally card supports this and find a participating ATM.
How to Send Money to Ally Bank from Abroad?
For international wire transfers, you will need the recipient's Ally Bank account number, their full name, and the intermediary bank details for Ally (JP Morgan Chase Bank, N.A., SWIFT Code: CHASUS33, Ally Bank's account number at Chase: 802904391, with further credit to the recipient's specific Ally account number and name). Always get the precise international wire instructions from the Ally Bank account holder.
How to Send Money to Ally Bank Without an Account Number?
Generally, you cannot send money directly to an Ally Bank account without an account number. For person-to-person transfers like Zelle, you use an email or phone number, but those are linked to an underlying bank account. For checks, the recipient's account number is needed for endorsement.
How to Set Up Direct Deposit to Ally Bank?
The recipient needs to provide you with their Ally Bank routing number (124003116) and their Ally Bank account number. You then provide these details to your employer or the payment provider to set up the direct deposit.
How to Check the Status of a Transfer to Ally Bank?
You can check the status through your sending bank's online banking portal or mobile app. The recipient can also check their Ally Bank account activity. For wire transfers, you can typically request a confirmation.
How to Cancel a Money Transfer to Ally Bank?
The ability to cancel depends on the transfer method and its status. ACH transfers can sometimes be canceled if caught before processing. Wire transfers are generally irreversible once sent. For P2P services like Zelle, payments are typically instant and cannot be canceled once sent to an enrolled user. Contact your bank immediately if you need to attempt a cancellation.
How to Find an ATM That Accepts Deposits for Ally Bank?
Ally Bank is part of the Allpoint and MoneyPass ATM networks for fee-free withdrawals. However, cash deposits are only accepted at select Allpoint+ ATMs, and your Ally card must participate in this service. Use the Allpoint ATM locator and filter for "Allpoint+" locations, or contact Ally Bank support to confirm deposit capabilities.
