We're updating our Deposit Agreement on 12/03/16 and wanted to let you know about important changes coming soon. We summarized the key changes below, but we encourage you to read the full booklet for details on other updates as well. As always, we're committed to providing you with a better banking experience, so you should take a moment to understand these changes and how they may affect you.
Faster speeds for qualified transfers.
We can now complete qualified transfers between your Ally Bank and non-Ally Bank accounts in 1 business day - free of charge.
If 1-day delivery is unavailable, we'll deliver your transfer in 3 business days.
We'll automatically try to deliver your money faster, but if 1-day delivery is unavailable, it's because:
- Your one-time transfer is ineligible due to account inactivity, overdrafts or transfer returns
- Your transfer is part of a recurring transfer plan
Improved funds availability for check deposits.
We're making more of your deposit available to you sooner – so you have it when you need it.
Starting on 10/01/16, up to $25,000 of your check deposit will be available after 2 business days.
So let's say you deposit a check over $25,000:
- The first $200 will be available the next business day
- Up to $24,800 will be available the 2nd business day
- Remaining amounts over $25,000 will be available on the 5th business day
We may hold all funds up to 5 business days if we believe a check you deposited won't be paid, a check you deposited was returned unpaid or you have repeatedly overdrawn your account in the last 6 months.
For complete details, please
review the updated Ally Bank Deposit Agreement (PDF). If you have any questions, free to call us at 1-877-247-2559. We're here 24/7.
