You can open an Ally Bank account entirely online in about 10 minutes, with no branch visits required

Ally Bank operates as an online-only bank, which means there is no physical location to walk into. Instead, you start at ally.com, choose the type of account you want (checking, savings, or money market), and complete the application on your computer or phone. The process asks for your Social Security number, date of birth, address, and employment information. Ally then verifies your identity using public records and runs a ChexSystems check—a banking history report that flags accounts closed for fraud or unpaid overdrafts.

Once you are approved, which usually happens within minutes to a few hours, Ally sends you a debit card by mail and gives you immediate access to your account online. You can start depositing money right away through direct deposit, ACH transfer from another bank, or mobile check deposit. The entire account is usable before the physical card arrives.

Key Takeaways

  • Ally's application takes about 10 minutes and requires your Social Security number, date of birth, current address, and employment details.
  • You will need a valid government-issued ID and a way to verify your identity, which Ally does automatically through public records.
  • Approval typically happens within minutes to a few hours, and you can start using your account immediately even before your debit card arrives in the mail.
  • You can fund your new account through direct deposit, ACH transfer from another bank, or by depositing checks through the Ally mobile app.
  • Ally has no monthly maintenance fees and no minimum balance requirement, though some account features require a $0.01 opening deposit.

What you need before you start

Have your Social Security number, date of birth, and current address ready. Ally will ask for your phone number and email address as well. You will also need a valid government-issued ID—a driver's license, state ID card, or passport. Ally does not ask you to upload it; instead, the bank verifies your identity by cross-checking the information you provide against public records and credit bureaus.

You will need access to a bank account or a way to fund your new Ally account. This can be a checking or savings account at another bank, a paycheck through direct deposit, or a mobile check deposit. Ally does not accept cash deposits or wire transfers as an initial funding method, though you can set those up after your account is open.

The step-by-step application process

Go to ally.com and click the button to open a new account. Ally will ask you to choose between a checking account, savings account, or money market account. Select the one that fits your needs, then click to begin the application.

Enter your personal information: full name, date of birth, Social Security number, and current address. Ally asks for your phone number and email address next. You will then provide your employment status (employed, self-employed, retired, student, or unemployed) and, if employed, your employer's name and your job title. This information helps Ally comply with banking regulations; it does not determine whether you are approved.

Review Ally's terms and conditions, including the deposit account agreement and privacy policy. Check the boxes to confirm you have read them, then submit your application. Ally will display a confirmation message on screen and send a confirmation email to the address you provided.

What happens after you submit your application

Ally runs a ChexSystems check, which is a report of your banking history. This check looks for accounts you closed with unpaid fees or overdrafts, or accounts closed due to fraud. Most people pass this check without issue. If Ally finds a problem, the bank will contact you by phone or email to discuss it before making a final decision.

Ally also verifies your identity by matching the information you provided against public records, credit bureaus, and other data sources. This is an automated process and usually takes a few minutes. If Ally cannot verify your identity automatically, the bank may ask you to provide additional information or to call customer service to complete the process by phone.

Once approved, Ally sends you a welcome email with your account number and online banking login details. You can log in immediately and start using your account. Your debit card ships within 5 to 7 business days. While you wait for the card, you can receive direct deposits, transfer money from another bank, or deposit checks using the Ally mobile app.

Funding your new account

The fastest way to fund your account is through direct deposit. If your employer offers direct deposit, you can provide your new Ally account number and routing number (both shown in your online banking dashboard) to your payroll department. The deposit will arrive on your next regular pay date.

You can also transfer money from another bank account using ACH (Automated Clearing House). Log into your Ally account, go to the transfer section, and select "Transfer from another bank." Ally will ask for the bank's name, your account number there, and the amount you want to move. The transfer usually takes 1 to 3 business days. Alternatively, you can initiate the transfer from your other bank and push money into your Ally account.

If you have checks, use the Ally mobile app to deposit them. Open the app, select "Mobile Check Deposit," take a photo of the front and back of the check, and enter the amount. The check usually clears within 1 to 2 business days. Ally does not accept cash deposits, wire transfers, or checks deposited at ATMs.

Account features available immediately

Once your account is open, you have full access to online banking through ally.com and the Ally mobile app. You can check your balance, view transactions, set up bill pay, and transfer money between your Ally accounts. You can also set up alerts to notify you of large transactions, low balances, or deposits.

Bill pay is free and lets you send payments to any person or business in the United States. You can schedule payments in advance or send them immediately. Payments typically arrive within 1 to 3 business days, depending on the recipient.

You can link external bank accounts to move money in and out. This is useful if you want to keep money at multiple banks or if you need to move funds quickly. Ally also offers a savings feature called "buckets," which lets you divide your savings into separate goals (vacation, emergency fund, car down payment) within the same account.

Fees and minimum balance requirements

Ally has no monthly maintenance fee, no minimum balance requirement, and no overdraft fees. If you overdraw your account, Ally will decline the transaction rather than charging you a fee. This means you cannot spend money you do not have.

Ally does charge fees for certain actions: $25 for a stop payment on a check, $15 for a returned deposit item, and $10 for each replacement debit card after the first one. International ATM withdrawals cost $2.50 per transaction. There are no fees for transfers, bill pay, or mobile check deposit.

Ally's checking account pays interest on your balance, which is unusual for a checking account. The rate varies based on market conditions and your balance tier. Ally's savings account also pays interest, typically at a higher rate than the checking account. Money market accounts pay the highest interest rate but may have withdrawal limits.

What to do if your application is denied

If Ally denies your application, the bank will send you a letter explaining the reason. Common reasons include a negative ChexSystems report (a history of unpaid overdrafts or fraud), an inability to verify your identity, or an issue with your Social Security number.

If the denial is due to ChexSystems, you can dispute the information by contacting ChexSystems directly at chexsystems.com or by calling 1-800-428-9623. You have the right to see what is in your report and to correct errors.

If the denial is due to identity verification, call Ally customer service at 1-877-247-2559 to discuss what additional information you can provide. Some people need to verify their identity by phone rather than online. If you were denied, you can reapply after addressing the issue, though Ally may ask you to wait a certain period before trying again.

Frequently Asked Questions

How long does it take to get approved?

Most applications are approved within minutes to a few hours. Ally will send you a confirmation email once you are approved. If Ally needs additional information, the bank will contact you by phone or email, which may add a day or two to the process.

Can I open an account if I do not have a Social Security number?

No. Ally requires a Social Security number to open any account. If you have an Individual Taxpayer Identification Number (ITIN) instead, you will need to contact Ally customer service to discuss your options, though the bank may not be able to open an account for you.

Do I need a minimum deposit to open an account?

No. Ally has no minimum opening deposit. Some account types require a $0.01 deposit to activate certain features, but you can open the account with $0 and fund it later through direct deposit or transfer.

Can I open an account on my phone?

Yes. The Ally website is mobile-friendly, and you can complete the entire application on your phone. You can also download the Ally mobile app after your account is open, though you cannot start a new account through the app itself.

What if I want to close my account later?

You can close your Ally account anytime by logging into your online banking dashboard, calling customer service at 1-877-247-2559, or visiting an Ally Financial Center if one is near you. Ally will ask you to transfer or withdraw any remaining balance before closing. There is no fee to close an account.