Here you will always find an updated list of Ally Bank promotions, bonuses, and offers.
At the moment you can earn up to a $3,000 bonus with free trades as well as 0.50% APY on an Online Savings Account.
Table of Contents
About Ally Bank
Ally Bank has been in existence for 100 years but has since evolved and expanded nationwide by converting to an online bank. However, being an online bank does have its limitations. For a full list of bonuses in your area checkout our best Nationwide Bank Promotions.
- Availability: Nationwide (Online Only)
- Routing Number: 124003116
- Customer Service: 1 (877) 247-2559
Up To $3,000 Ally Invest Bonus
When you fund your Ally Invest account, you can earn up to a $3,000 bonus as well as free trading.
- Account Type: Ally Invest
- Credit Inquiry: Unknown, Let us know
- ChexSystems: Unknown, Let us know
- Opening Deposit: Unknown
- Credit Card Funding: Unknown, Let us know
- Direct Deposit Requirement: Optional
- Monthly Fee: None
- Household Limit: Unknown
- Closing Account Fee: Unknown
(Expires June 30, 2021)
How To Earn Up To $3,000 Bonus and Free Trades
- Cash Bonus:
- Funding – Accounts must be opened by the expiration date and funded within 60 days of account opening.
- The qualifying deposit to open the new account must be from outside Ally Invest.
- The new account must be funded with a minimum qualifying deposit of $10,000 or more to receive the Minimum Cash Bonus
- The minimum qualifying funds to receive bonus offer must remain in the account (minus any trading losses) for a minimum of 90 days from the date of funding.
- Accounts will receive the specified credit, depending on the initial deposit amount, deposited into the account within ten (10) days of meeting the qualifying requirements.
- Once the account is credited, the bonus and initial qualifying deposit is not available for withdrawal for 300 days after the requirements have been met.
- If the qualifying deposit(s) are removed the bonus payout may be revoked.
- See the table below for the deposit required for each bonus amount.
|Bonus Amount||Deposit or Transfer Amount|
|$2,000||$1M – $1.99M|
|$1,200||$500k – $999.9k|
|$600||$250k – $499.9k|
|$300||$100k – $249.9k|
|$250||$25k – $99.9k|
|$100||$10k – $24.9k|
- Commission-Free Trades:
- $0 commissions- They offer commission free trading on all U.S exchange-listed stock, ETF, and option trades.
- Competitive options pricing- They also lowered our fee for option trades to just $0.50 per contract.
- $150 Transfer Fee Credit:
- Must complete a first-time ACATS account transfer of $2,500 or more to receive a Transfer Fee Credit of up $150 to cover the outgoing transfer fee from your current brokerage firm.
- ACAT forms must be received within 15 days of opening new account.
- Credit will be deposited to your account within 30 days of receipt of evidence of charge.
- This transfer reimbursement offer does not apply to Termination Fees or Maintenance Fees.
- Not valid for any retirement or ERISA qualified accounts.
- Offer is not transferable.
- Open to US residents only.
- Excludes current Ally Invest Securities, LLC account holders.
- Excludes former Ally Invest Securities, LLC (formerly TradeKing Securities LLC) account holders who have closed their accounts within the past 90 days.
Ally Bank 0.50% APY Online Savings Account
Manage your account from anywhere using the Ally Bank Online Savings Account that also earns 0.50% APY. For more information check out our Ally Bank Online Savings Review.
- Open an Online Savings account from Ally Bank.
- Maintain any balance amount and earn the 0.50% APY rate.
|Balance Requirement||APY Rate|
- Clients can deposit checks remotely via Ally eCheck Deposit
- Interest compounds daily (great for accounts with large balances)
- Deposits are insured by the FDIC
- Allows transfers between other Ally Bank accounts and external accounts
- Transfers can be scheduled a year in advance
- Six transactions per statement cycle as required by federal law. Clients that make more than six transactions incur a $10 fee per additional occurrence.
- Interest is compounded daily
- FDIC insured up to $250,000
- No minimum to open
- Earn 0.50% APY rate on any balance
Ally Bank $250 Bonus for All Babies Born on New Year’s Eve
Ally Bank is offering a $250 bonus towards a custodial savings account for newborns on December 31, 2020 to give them a head start on their finances.
(Offer expires July 31, 2021)
How to Earn $250 Bonus
- If your baby is born on the last day of the year, you can start enrolling at 1/15/2021.
- After enrolling, you’ll be prompted to open an Ally Bank custodial Online Savings Account (that’s where we’ll deposit your baby’s money).
- You’ll need your baby’s social security number to apply and must upload a copy of your child’s birth certificate by 7/31/2021.
- Child must be born between 12:01 a.m. and 11:59 p.m. in local time on December 31, 2020
- Baby must be a US citizen or a legal permanent resident and have a residential street address (not just a P.O. box) in one of the 50 U.S. states, Guam, or the U.S. Virgin Islands
- Must provide Ally with the baby’s social security number and birth certificate showing the birth on December 31
- Must provide the mother’s maiden name
- You can enroll in this offer from 1/15/21 – 7/31/21
Compare to Other Banks
- Ally Bank vs Bank of America
- Ally Bank vs Chase
- Ally Bank vs Wealthfront
- Ally Bank vs Capital One
- Ally Bank vs Marcus by Goldman Sachs
- Ally Bank vs Axos Bank
- Ally Bank vs CIT Bank
- Ally Bank vs Discover Bank
- TD Bank vs Ally Bank
Ally Bank understands you have needs and they have solutions! Therefore trade and invest how you want with access to a variety of investment choices. Furthermore, you can select from equities, bonds & CDs, options, non-proprietary mutual funds, forex trading and more to diversify your portfolio. Once you become their client, you can enjoy fair, straightforward pricing. No hidden fees or complicated pricing structures!
With their online savings account, you can enjoy earning a higher rate than traditional savings accounts, you can deposit checks remotely with Ally eCheck Deposit, grow your money faster with interest compounded daily, and FDIC insured up to $250K. You get the service you need when you need it.
Make sure you check out the promotions and choose the right account for you. If you want to check up on the internet’s most complete list of Brokerage Promotions and Best Bank Rates, then keep coming back to HMB for more!
Check back here to always find an updated list of Ally Bank promotions.*
- How To Open an Ally Bank Account
- What Are Ally Bank’s Hours?
- How To Find and Use Your Ally Bank Login
- Ally Bank Routing Number