The main ways to fund your Ally savings account
You can move money into your Ally savings account through a bank transfer from another account you own, a direct deposit from your employer, or a wire transfer. Ally also accepts transfers from external accounts at other banks using their online transfer tool. The method you choose depends on how quickly you need the money there and whether you're setting up a one-time deposit or a recurring transfer.
Most transfers between your own accounts take one to two business days. Direct deposits from your employer typically arrive on your regular payday. Wire transfers are faster—usually the same day or next business day—but they cost money to send and should only be used when speed matters.
Key Takeaways
- You can transfer money from another bank account you own through Ally's online transfer tool, which usually takes one to two business days.
- Direct deposit from your employer is free and automatic, but you need to provide your Ally account and routing number to your payroll department.
- Internal transfers between your own Ally accounts (if you have more than one) happen when ready.
- Wire transfers arrive the same day or next business day but cost money and require you to provide your bank details to the sender.
Setting up a transfer from another bank
Log into your Ally account online or through the mobile app and look for the "Transfer" or "Move Money" option. You'll be asked to enter the routing number and account number of the bank you're transferring from. Ally will verify that account by depositing two small test amounts (usually under $1 each) into it, then asking you to confirm those amounts in your Ally account. This verification step typically takes one to two business days.
Once verified, you can transfer money whenever you want. The transfer itself takes one to two business days to complete. Ally does not charge a fee for incoming transfers from other banks. The sending bank may charge you a fee, so check with them before you transfer.
Using direct deposit to fund your account
Direct deposit is the simplest way to move money regularly into your Ally savings account. You need to give your employer or benefits administrator your Ally account number and routing number. You can find both in the Ally app under account details, or by calling Ally customer service.
Once your employer has your information on file, the money will arrive on your regular payday without any action from you. Direct deposit is free and does not require you to do anything after the initial setup. If you want to split your paycheck between multiple accounts, most employers allow you to set up more than one direct deposit destination.
Wire transfers into your Ally account
A wire transfer moves money faster than a standard bank transfer, usually arriving the same day or the next business day. To receive a wire, you need to provide the sender with your Ally account number, routing number, and full name as it appears on your account. The sender initiates the wire from their own bank.
Wire transfers cost money—typically $15 to $30 depending on whether it's domestic or international—and the sender usually pays this fee. Ally does not charge you to receive a wire. Wire transfers are useful when you need money urgently, but for routine deposits, a standard transfer or direct deposit is cheaper.
Moving money between your own Ally accounts
If you have more than one account at Ally (for example, a checking account and a savings account), you can transfer money between them when ready through the Ally app or website. These internal transfers are free and appear in your account right away. There's no waiting period or verification needed.
This is useful if you want to move money from checking to savings, or if you have multiple savings accounts and want to consolidate them. You can set up recurring transfers between your own Ally accounts if you want to move a fixed amount on a schedule.
What to do if a transfer is delayed or doesn't arrive
If a transfer you initiated hasn't arrived within the expected timeframe, first check that you entered the correct account and routing numbers. A single digit wrong will cause the transfer to fail or go to the wrong account. Log into your Ally account and look at the transfer history to see the status.
If the transfer shows as completed on Ally's end but hasn't appeared in your receiving account, contact the other bank—the delay may be on their side. If the transfer shows as pending or failed in your Ally account, contact Ally customer service with the transfer details. They can investigate whether the receiving bank rejected it and help you resubmit if needed.
Frequently Asked Questions
How long does it take money to show up after I transfer it?
Standard transfers from another bank take one to two business days. Direct deposits arrive on your payday. Wire transfers arrive the same day or next business day. Internal transfers between your own Ally accounts appear when ready.
Do I have to verify the account I'm transferring from?
Yes. Ally deposits two small test amounts into the account and asks you to confirm them. This takes one to two business days and happens only once per account. After verification, you can transfer whenever you want without repeating this step.
What information do I need to give my employer for direct deposit?
You need your Ally account number and routing number. Both are in the Ally app under account details. Your employer will enter this into their payroll system, and the money will arrive automatically on payday.
Can I transfer money out of my Ally savings account the same way?
Yes. You can transfer money from Ally to another bank account you own using the same transfer tool. You can also withdraw cash at ATMs that are part of the Ally network, or request a check from Ally.
Is there a limit to how much I can transfer?
Ally does not publicly state a single transfer limit, but very large transfers may be flagged for review. Contact Ally customer service if you're planning to transfer more than $10,000 at once to confirm there are no holds or delays.