You can close your Ally savings account online, by phone, or by mail — the fastest way is usually online through your account dashboard
Ally lets you close a savings account without visiting a branch, since Ally operates as an online bank with no physical locations. You have three main routes: closing it yourself through your online account, calling Ally's customer service team, or sending a written request by mail. The online method is fastest and requires only a few clicks. Before you close, make sure you've withdrawn or transferred any remaining balance, since Ally will not hold funds after the account is closed.
Closing an account does not affect your other Ally accounts — if you have a checking account, money market account, or other products with Ally, those stay open unless you close them separately. Ally also will not charge you a fee to close a savings account, and the process typically completes within a few business days.
Key Takeaways
- You can close your Ally savings account online through your account dashboard, by calling 1-855-925-2559, or by mailing a written request to Ally's address.
- Withdraw or transfer your full account balance before closing, since Ally will not hold funds in a closed account.
- Closing one account does not close your other Ally accounts — you must close each one separately if you want them all closed.
- There is no fee to close a savings account, and the process usually takes a few business days to complete.
Closing your account online through the Ally website
Log into your Ally account at ally.com using your username and password. Once you're logged in, look for the account settings or account management section — this is usually found in the menu or under your profile. Select the savings account you want to close, then look for an option labeled "Close Account" or "Account Closure." Ally will ask you to confirm that you want to close the account and may ask why you're closing it, though answering is not required.
Before you confirm closure, Ally will remind you to withdraw or transfer any remaining balance. If there is money in the account, you can transfer it to another Ally account or to an external bank account you've already linked to your Ally profile. Once you confirm the closure, the account will close within a few business days. You'll receive a confirmation email when the closure is complete.
Closing your account by phone
Call Ally customer service at 1-855-925-2559. You can reach them Monday through Friday from 9 a.m. to 8 p.m. Eastern Time, and Saturday and Sunday from 10 a.m. to 6 p.m. Eastern Time. Have your account number ready when you call. A representative will verify your identity by asking for information like your Social Security number or the last four digits of the card linked to your account.
Tell the representative you want to close your savings account. They will confirm that your account balance is zero — if it's not, they can help you transfer the money to another account or arrange a check to be mailed to you. Once everything is settled, the representative will process the closure and give you a confirmation number. Write down this number for your records.
Closing your account by mail
If you prefer to close your account in writing, send a letter to Ally's mailing address. Your letter should include your full name, account number, and a clear statement that you want to close your savings account. You can find Ally's current mailing address by logging into your account or calling customer service at 1-855-925-2559 to confirm the correct address, since addresses can change.
Before you mail the letter, withdraw or transfer any remaining balance from the account. Mail your letter via regular mail or certified mail — certified mail gives you proof that Ally received it. The closure will take longer by mail than by phone or online, usually one to two weeks after Ally receives your letter.
What to do with your money before closing
You must move any money out of your savings account before or during the closure process. You have two options: transfer the balance to another Ally account you own, or transfer it to an external bank account. To transfer to another Ally account, log into your account and use the internal transfer tool — this usually completes within one business day. To transfer to an external account, you'll need to have already linked that account to your Ally profile, which requires verification and can take a few days.
If you don't have another account set up and need your money quickly, you can request that Ally mail you a check. When you close by phone, the representative can arrange this. When you close online or by mail, contact Ally to ask about check options. A mailed check typically arrives within five to seven business days.
What happens after your account closes
Once your account is closed, you can no longer use the debit card or online access tied to that account. If you had automatic deposits or payments set up to transfer money into this savings account, those will stop working — you'll need to update any recurring transfers or direct deposits to point to a different account if you want them to continue.
Ally will send you a final statement showing the account closure. Keep this for your records. If you ever need to reopen a savings account with Ally, you can do so at any time by logging into your account or calling customer service — there is no waiting period, and you won't be penalized for having closed an account previously.
Frequently Asked Questions
Can I close my Ally savings account if there's still money in it?
No — you must withdraw or transfer the full balance before the account closes. If you try to close with money still in the account, Ally will stop the closure and ask you to move the funds first. You can transfer to another Ally account, an external bank account, or request a check.
Will closing my savings account affect my Ally checking account?
No. Each account is separate, and closing one does not close the others. If you want to close your checking account too, you'll need to close it separately using the same methods — online, by phone, or by mail.
How long does it take to close an Ally savings account?
Online and phone closures usually complete within a few business days. Mail closures take longer, typically one to two weeks after Ally receives your letter. You'll get a confirmation email or letter when the closure is final.
Is there a fee to close my Ally savings account?
No. Ally does not charge a fee to close a savings account. There are no penalties or charges for closing, regardless of how long you've had the account or how much money you've kept in it.
What if I change my mind after closing my account?
You can reopen a savings account with Ally at any time after closure. Log into your account or call customer service to open a new savings account. There is no waiting period, and you won't be charged for reopening.