Ally Bank Routing Number is needed to make wire transfers on your account. Knowing where you can find it is helpful to transfer funds to and from your account with ease. Routing numbers for other banks are also provided in our Routing Numbers List.
Many Banks & Financial Institutions use routing numbers for the institution’s identification purpose. The routing number consists of nine digits & is sometimes referred to as the routing number or ABA routing number. The Federal Reserve Bank mandates routing numbers for processing the Fedwire funds transfers.
- 1 Ally Bank Background
- 2 Ally Bank Routing Number Savings
- 3 More Services from Ally Bank
- 4 F.A.Qs
Ally Bank Background
Ally Bank is purely online. You can open a deposit account and avail of other financial services. This bank is ideal for a savings account online with no maintaining balance. The savings account comes with a free checking account and a debit card, which you may use for online payments.
The other perks of Ally Bank would be a competitive return on your savings while you also earn more with Certificates of Deposit [CD]. It has access to Allpoint ATMs, which totals about 55,000 all over the United States. Nevertheless, there would be no way for you to deposit your cash directly to your Ally Bank account since there is no physical bank. Besides, it takes 2-3 banking days to withdraw money from your online bank.
Ally Bank Routing Number Savings
There would a more than one routing number for Ally Bank. Refer to the following list to avoid missing out on any number and having your funds land somewhere else.
- 124003116 Ally Bank, 1100 Virginia Drive, Fort Washington PA 19034
- 031176136 Ally Bank, 1100 Virginia Drive, Fort Washington PA 19034
- 124085011 Ally Bank, 440 South Church St, Charlotte NC 28202
- 072014477 Ally Bank, Charlotte NC
Wire Transfer Using Ally Bank Routing Number
If you need to wire transfer, file a request through Ally Bank’s online wire transfer form, or you may print the form and fax it to 1-866-608-2635. However, to complete the filing, you will need the following:
- account number of the beneficiary
- number of your Ally Bank account
- name of the recipient
- your exact name on Ally Bank
Take note that there is a $20 charge for every outgoing domestic wire transfer. However, if you transfer from your Ally Bank account to your Ally Invest account, there is an automatic reimbursement for the $20 fee in 2 business days. Meanwhile, you cannot request an international wire transfer. For further assistance, call 1-877-247-2559.
Receive Wire Transfer to Ally Bank from Another US Bank
You may also receive money into your Ally Bank account from a different US Bank. You only need to give the following information to the one sending you money:
- Bank Name: Ally Bank
- Routing Number: 124003116
- Bank Address: 6985 Union Park Center, Midvale, UT 84047
- Recipient’s Account number: Your Ally Bank Account Number
- Recipient’s Account Name: Your name as it appears on your account
International transfer Using Ally Bank Routing Number NY
JP Morgan Chase Bank processes the international wire transfer for Ally Bank. Hence, you need to give the following information to the one who will send you the money.
- Bank Name: JP Morgan Chase Bank, N.A. as receiving bank
- Routing Number: 021000021
- Bank Address: 1 Chase Manhattan PLZ, New York, NY 10005
- SWIFT CODE: CHASUS33
- Recipient’s Account Number: 802904391
- Recipient’s Account Name: Ally Bank
- Further Credit: Your exact Ally Bank account number and account name
Ally Bank will not charge anything to receive a wire transfer to your account. However, the mediating bank may collect an intermediary processing fee.
More Services from Ally Bank
Ally Bank provides other services, so you have other options and financial freedom.
Online Savings Account
This online savings account has no monthly maintenance fees nor minimum opening deposit. It earns an Annual Percentage Yield (APY) of 0.50%, which may remain the same across all balance tiers or may change based on your account’s daily balance. The APY is based on the tier in which your end-of-day balance falls.
Online Savings Account balance tiers
- Less than $5,000
- Between $5,000 and $24,999.99
You may put money into your account by transferring from another account, mailing checks for deposit, wiring funds, or through mobile check deposit. Take note that there are no fees every month, and you may get your money by transferring funds from your online account to whichever bank account you linked to it. You may also transfer to other Ally Bank accounts.
If you want an ATM card and have access to your cash, it is best to open a Money Market Account or an Interest Checking Account since the savings account does not offer such a feature.
Money Market Account
The Money Market Account makes it easy to use your money regularly. It’s a combination of a checking account and a savings account. You can use your money instantly, and you also earn interest. You get a free debit card with this account; this is how you can spend your money. There is, however, a monthly maintenance fee. Nevertheless, you can withdraw funds at Allpoint ATMs for free. Ally Bank may even reimburse up to $10 per statement cycle for charges at other ATMs nationwide.
Note that withdrawals could be limited to six per month under federal regulations. Using your ATM to withdraw has no limit, but the limit would include payments and transfers from your account.
This account is a free checking account, but you still get some return on your cash. There is no monthly fee for maintenance, and you may withdraw at any Allpoint ATM. Meanwhile, you would receive up to $10 per statement cycle as rebate charges using other ATMs. You may also send P2P payments using Zelle and deposit checks with the mobile app. To boot, you may pay bills and even schedule payments. Meanwhile, with Ally eCheck Deposit, you can deposit checks from your smartphone.
Certificates of Deposit
You can get a Certificate of Deposit from Ally Bank as well. They have standard and liquid options. You can choose which one fits your needs best.
Ally’s standard CDs are called High-Yield CDs and would need you to leave funds in the bank. Consequently, you may receive higher rates upon issuance, but this is constant until your account matures. Of course, if you decide to cash out of this kind of CD before maturity, you would pay a withdrawal penalty.
Raise CD Rates
CD rates could increase so that you won’t be stuck with too low returns. If Ally announces a rise in the interest in products you may have, log in and ask Ally to increase yours. If your CD is running for two years, you may request an increase once within the term. If you have four-year CDs, then you have two chances. You get 2.50 percent APY for both two- and four-year raises.
No Penalty CDs
Ally also offers liquid CDs, or the No Penalty CDs, which helps you avoid committing your money with the bank for a set period. This feature allows you to cash out early, especially when utterly high-interest rates take place. This type of CD runs for 11 months. Nevertheless, you may cash out 100% of your fund after waiting six days. Here are the interests that you may earn:
- deposit of less than $5,000; 1.80 percent
- deposit between $5,000 and $25,000; 2.15
- deposit of more than $25,000; 2.30 percent
Meanwhile, here are other services that you can avail of from Ally Bank. Visit any of their offices or their site to check out the following:
- Loan Options
- IRA and Trust accounts
- Investment Options
To simplify the banking process, the banks use the branch and location where your account was opened as the one which is your routing number.
No. A routing number is only used for bank-to-bank transfers. Therefore one can not find out routing number using a debit or credit card. However, you can bookmark this page for easy accessibility so that you can find your routing number whenever you need it.
Routing Numbers and Account Numbers are different. According to location, the routing number is used to identify a particular bank branch. Account Number is specific and unique to your account. Many people will have the same Routing Number, but no one will have the same Account Number as you.
We hope that this article has been helpful to you. If you have any story that you would like to share about Ally Bank or wire transfer, or if you have any questions, please leave a message in the comment section below.ally bank routing number