You can close an Ally savings account by phone, online, or by mail — the fastest way is a phone call to their customer service line
Ally does not charge a fee to close a savings account, and you can do it without visiting a branch because Ally operates as an online bank. Before you close, you need to withdraw or transfer any remaining balance — Ally will not close an account with money still in it. The process itself takes minutes on the phone, or a few business days if you go through their website or send a written request.
The main decision is what to do with your money first. If you want to move it to another bank, you can set up an external transfer through Ally's website before you close, or withdraw it to a debit card. If you have pending transactions or automatic deposits, those need to settle before closure, so timing matters.
Key Takeaways
- Ally charges no fee to close a savings account, and you can do it entirely online or by phone without visiting a location.
- Your account must have a zero balance before Ally will close it, so transfer or withdraw all remaining funds first.
- Calling Ally customer service at 1-855-492-5559 is the fastest method and takes about five minutes.
- If you close online through your account dashboard, allow three to five business days for the closure to complete.
- Any pending transactions or automatic deposits must clear before the account closes, so check your recent activity first.
Close your account by phone in about five minutes
Call Ally customer service at 1-855-492-5559. Have your account number ready, though the representative can look it up with your Social Security number and date of birth. Tell them you want to close your savings account. They will confirm your identity, verify that your balance is zero, and process the closure on the call.
The representative will ask why you are closing — this is routine and does not affect whether they close the account. They may mention other Ally products, but you can decline. Once confirmed, your account closes when ready, though it may take one to two business days for the closure to show in your online dashboard.
Call during Ally's customer service hours: Monday through Friday, 9 a.m. to 8 p.m. Eastern Time, and Saturday 10 a.m. to 6 p.m. Eastern Time. Sunday service is available 11 a.m. to 6 p.m. Eastern Time. Calling on a weekday morning usually means shorter wait times.
Close your account online through your dashboard
Log into your Ally account on their website or mobile app. Go to Settings or Account Settings (the exact location varies slightly between the website and app). Look for an option labeled Close Account or Account Closure. Ally will ask you to confirm your balance is zero and may ask why you are closing.
Once you submit the request, Ally sends a confirmation email to the address on file. The closure takes three to five business days to complete. You will receive a second email when the account is fully closed. During this waiting period, you can still log in and see your account, but you cannot make deposits or withdrawals.
If you cannot find the closure option in your dashboard, this usually means your account still has a balance or there are pending transactions. Go back and check your account balance and recent activity. If the balance shows zero but you still cannot close, call customer service — sometimes a hold on a recent deposit prevents online closure.
Transfer your money before closing
Before you close, move any money out of your Ally savings account. You have three options: transfer to another bank account you own, transfer to another Ally account you own, or withdraw to your debit card.
Transfer to another bank: In your Ally dashboard, go to Transfer Money and select External Transfer. Add the receiving bank's routing number and your account number there. Ally will send a small test deposit to that account (usually within one business day) and ask you to confirm the amount. Once confirmed, you can transfer your full balance. This takes one to three business days.
Transfer to another Ally account: If you have a checking account or another savings account with Ally, you can move money between them when ready within the Ally dashboard under Transfer Money. Select the account you want to move money to and the amount. The transfer shows up when ready.
Withdraw to your debit card: You can request a debit card withdrawal through the Ally app or website. The money appears in your card account within one to two business days. This is useful if you want cash or do not have another bank account set up yet.
What happens to pending transactions and automatic deposits
If you have automatic deposits (like direct deposit from your employer) or automatic payments set up to pull from your Ally savings account, those need to be stopped or redirected before you close. Ally will not close an account with active automatic transactions.
Log into your Ally dashboard and check Transfers & Payments or Scheduled Transactions. Cancel any recurring transfers or payments. If you have direct deposit going to this account, contact your employer's payroll department and give them your new bank account number, or ask them to pause deposits until you have set up a new account elsewhere.
Pending transactions — charges that have been authorized but not yet settled — must also clear before closure. These usually settle within one to three business days. If you are closing soon, wait until your recent activity shows no pending items before you request closure.
What to do if you cannot close your account
The most common reason Ally will not close an account is that the balance is not actually zero. Check your account balance one more time — sometimes a small fee or interest posting happens after you transfer money out. If you see a balance, transfer or withdraw that amount.
If your balance shows zero but Ally still will not let you close online, there may be a hold on a recent deposit or a pending transaction you did not see. Call customer service at 1-855-492-5559 and ask them to check for holds or pending activity. They can close the account over the phone even if the online option is not working.
If you closed your account but still see it in your dashboard after five business days, this is usually a display lag. The account is closed even though it still shows online. If you are concerned, call customer service to confirm the closure date.
After your account is closed
Once Ally confirms your account is closed, you will no longer be able to log in to that specific account. If you have other Ally accounts (checking, money market, or other savings accounts), those remain open and you can still access them.
Keep your final account statement for your records. You can read it from your dashboard before the account closes, or Ally will mail it to you after closure. If you need a statement later, you can contact Ally customer service and request one — they keep records for several years.
If you had overdraft protection or linked accounts set up, those links are removed when the account closes. If you move to another bank and want overdraft protection there, you will need to set it up with that bank separately.
Frequently Asked Questions
Do I lose money if I close my Ally savings account?
No. Ally does not charge a fee to close a savings account. You keep all the money in the account — you just have to move it somewhere else first. Any interest you earned up to the closure date stays with you.
Can I reopen an Ally savings account after I close it?
Yes. You can open a new Ally savings account anytime after closure. There is no waiting period or penalty. You will go through the standard account opening process, which takes a few minutes online.
What if I have a negative balance or owe Ally money?
Ally will not let you close an account with a negative balance. You must pay the negative amount first. Call customer service at 1-855-492-5559 and ask how to pay the balance, or transfer money from another account you own to bring the balance to zero.
Will closing my Ally savings account hurt my credit score?
No. Closing a savings account does not affect your credit score. Credit scores are based on credit accounts like credit cards and loans, not deposit accounts. Closing a savings account is a routine banking action with no credit impact.
How long does it take to close an Ally savings account?
By phone, closure is when ready — the account closes while you are on the call, though it may take one to two business days to disappear from your dashboard. Online closure takes three to five business days from the time you submit the request.