You can close an Ally savings account by phone, online, or in writing — the fastest way is a phone call to their customer service line

Ally Bank does not have physical branches, so you cannot walk in and close an account in person. Your options are calling 1-855-435-2559, using your online banking portal, or sending a written request by mail. A phone call usually takes 10 to 15 minutes and closes the account the same day. Online closure through your account dashboard works if you have a zero balance; if you have money in the account, you will need to transfer it out first or request a check during the closure process.

Before you close, make sure any pending deposits or automatic transfers have cleared, and that no bills or services are set to pull from this account. Ally will not process the closure if there are outstanding holds or pending transactions.

Key Takeaways

  • Call Ally at 1-855-435-2559 to close your account over the phone — this is the fastest method and takes about 10 to 15 minutes.
  • Your account must have a zero balance before closure, so transfer remaining funds to another bank account or request a check from Ally.
  • Cancel any automatic transfers or bill payments linked to the account before you start the closure process.
  • Ally will send you written confirmation of the closure and a final statement showing any remaining interest or fees.
  • If you have a linked checking account with Ally, closing the savings account does not affect it — you must close each account separately.

Closing your account by phone

Call Ally's customer service team at 1-855-435-2559. Have your account number and a form of identification ready — they will ask you to verify your identity before proceeding. The representative will confirm your account balance, ask why you are closing (this is optional to answer), and walk you through what happens next.

If you have money in the account, the representative will ask how you want to receive it: as a transfer to another bank account (which takes one to two business days) or as a check mailed to your address on file (which takes five to seven business days). Once you choose, they will process the closure when ready. The account will be closed by the end of that business day.

Keep the confirmation number they give you. Ally will mail you a final statement within 10 business days showing the closure date, any remaining interest paid, and any fees charged.

Closing your account online

Log into your Ally online banking account and navigate to the account settings or account management section. Look for an option labeled "Close Account" or "Account Closure." You can only use this method if your savings account has a zero balance.

If you still have funds in the account, you must transfer the money to another bank account first. Ally allows transfers to external accounts (accounts at other banks) through their online portal. Once the balance is zero, the online closure option will become available. Complete the closure request, and Ally will send you written confirmation by mail.

Closing your account by mail

Write a letter to Ally requesting closure of your savings account. Include your full name, account number, the date, and a brief statement that you want to close the account. Sign the letter and mail it to Ally's address, which you can find on your most recent statement or by calling customer service.

Ally will receive the letter within three to five business days and process the closure within 10 business days of receipt. This method is slower than phone or online closure, so use it only if you cannot reach customer service by phone or access your online account.

What happens to your money during closure

Ally will not close your account if there is a balance remaining. You must move the money before the closure is final. You have three options: transfer the funds to another bank account (takes one to two business days), request a check (takes five to seven business days), or keep the account open.

If you request a check, Ally will mail it to the address on file. The check is valid for six months from the date issued. If the check is not cashed within that time, Ally may attempt to contact you, and unclaimed funds may be turned over to your state's unclaimed property program.

Any interest earned up to the closure date will be paid out with your final balance. If there are any outstanding fees (such as overdraft fees from a linked account), Ally may deduct them from your balance before sending the money to you.

Canceling automatic transfers and bill payments first

Before you close the account, log into your online banking and review all automatic transfers and bill payments. Look for any recurring transfers set to pull from this savings account — these might include transfers to another account, payments to credit cards, or subscriptions.

Cancel each one individually through your account settings. If you cannot cancel them online, call customer service and ask them to cancel the transfers for you. This prevents failed transactions after the account closes, which can trigger fees or service interruptions.

Check any other services or apps that might be connected to this account — for example, investment apps, budgeting tools, or payroll direct deposit. Update those services to use a different account or remove them entirely before closing.

What to do if you have a linked Ally checking account

If you have both an Ally savings account and an Ally checking account, closing one does not close the other. You must close each account separately. If you want to close both, call customer service and let them know — they can process both closures in one call, but they will still treat them as two separate transactions.

If you have automatic transfers set up between your Ally checking and savings accounts, cancel those before closing the savings account. Once the savings account is closed, any attempt to transfer money to it will fail.

Frequently Asked Questions

How long does it take to close an Ally savings account?

A phone call closes the account the same business day. Online closure is when ready if your balance is zero. Closure by mail takes 10 to 15 business days from the date Ally receives your letter. You will receive written confirmation by mail within 10 business days of closure.

Can I reopen an Ally savings account after I close it?

Yes. You can open a new Ally savings account at any time by going to their website or calling customer service. There is no waiting period. However, Ally may review your banking history, so if you closed the account due to a dispute or negative balance, mention that when you open the new account.

What if I close my account but forget to cancel a bill payment?

The bill payment will fail because the account no longer exists. The merchant or service may charge you a fee for the failed transaction. Contact the merchant directly to update your payment method and avoid service interruption. If Ally charged you a fee for the failed transaction, call customer service to ask if they can reverse it.

Do I need to close my account in person?

No. Ally has no physical branches, so in-person closure is not an option. Phone, online, or mail are your only choices. Phone is the fastest and most straightforward method.

Will closing my Ally savings account affect my credit score?

No. Closing a savings account does not appear on your credit report and does not affect your credit score. Credit reports track credit accounts (credit cards, loans, lines of credit), not deposit accounts.