Explore Available Funds On Ally Invest

There are four ways to fund your Ally Invest account: by transferring from a bank (ACH), requesting a wire transfer, transferring from another broker, or sending a check. The fastest way to fund your account and begin trading is by wire transfer. Once you deposit money into your brokerage account, you can place your first trade. There is no account minimum to start, but the faster you fund your account, the sooner you can start trading.

Transfer from a bank (ACH)

One way to fund your Ally Invest account is to transfer from a bank (ACH). This is a good way to move money in and out of your Ally Invest Securities account both initially and long term. Transfers from an Ally Bank account are usually available immediately for trading. When initially funding your account from a different bank or financial institution, transfers may not be the fastest method due to the time it takes to process your application and the 3-business-day clearing period on transfers.

Once your account is open, log in, select 'Transfers' and then 'Linked Bank Accounts' to get started. You can link your bank account to your brokerage account for transfers.

If you transferred from another Ally account, you can use the funds to trade immediately. If you transferred from another institution, there’s a 3-business-day hold on initial transfers.

It's important to note that if you use unsettled funds for any part of a purchase, the entire purchase is subject to Regulation T settlement rules. While you can use unsettled funds to make another purchase in a cash account, you typically cannot withdraw unsettled funds. Only when they are fully processed and settled can you withdraw the funds.

Request a wire transfer

To request a wire transfer from your Ally Invest account, you can use the online wire transfer request form or fax in a completed form. There is a $20 fee for each outgoing domestic wire transfer, and Ally does not allow outgoing international wire transfers.

• Log in to your Ally Invest account.
• Navigate to the Transfers section.
• Select the account you want to transfer funds from and the account you want to transfer funds to.
• Enter the amount you want to transfer.
• Provide the recipient's name, routing number, and account number. If the recipient's instructions mention an intermediary or receiving bank, select "More than one bank" when filling out the wire request form and include the intermediary or receiving bank's name, routing number, and beneficiary bank name and account number.
• Schedule the wire transfer. You can schedule a wire transfer up to 30 days in advance. For same-day delivery, fully verified wires must be reviewed before 3 pm ET and will be sent by 6 pm ET.
• Verify your wire transfer request. An Ally representative may need to speak with you over the phone to verify the transfer.
• Track the status of your wire transfer. You can check the status of your wire transfer in the Status Tracker, and you will also receive email updates on its progress.

It's important to note that there is a limit of $25,000 on wire transfers for 90 days after opening your first Ally Bank account to protect you from fraud. You can request an exception if you need to wire more.

Additionally, standard and expedited transfers between your Ally Bank and Ally Invest accounts are free, but a $30 returned Automated Clearing House (ACH) fee may apply for failed transactions. Ally Invest also charges a $50 transfer fee for each partial or full Automated Customer Account Transfer Service (ACATS) transfer of securities or cash to another firm.

Transfer from another broker

Ally Invest allows you to transfer an account from another broker online. The process generally takes 5-7 business days. When you complete an account transfer of $2,500 or more from another broker, Ally Invest will credit you $75 to cover any possible account transfer fees.

There are two main ways to transfer your investments from one broker to another: a cash transfer or an in-kind transfer.

The most basic way is a cash transfer. If you have a brokerage account, you can sell all your securities and then move the cash to the new brokerage. However, this approach can be cumbersome if you have a lot of securities, and selling could trigger taxes on any capital gains.

An in-kind transfer, also known as an Automated Customer Account Transfer Service (ACATS), allows you to transfer your shares without having to sell. This process essentially means transferring your account "as is" to the new broker, including all your shares, buy/sell history, and cost basis.

To complete an in-kind transfer, you can follow these steps:

• Contact your new broker and ask about their process and any incentives or promotional bonuses they offer.
• Gather information from your old broker, including your most recent account statement, buy/sell history, and the cost basis for your existing securities.
• Wait for the new broker to move your account, which typically takes 3-6 business days. During this time, you will not have access to the securities being moved.
• Get acquainted with your new account and set up any necessary links or auto-deposit.

It's important to note that some brokers may charge a transfer fee for leaving your old broker, so be sure to check for any possible fees. Additionally, there may be tax implications if you are transferring retirement accounts, so it's essential to handle the transfer process carefully.

Send a check

There are four ways to fund your Ally Invest account, one of which is to send a check. Here is a detailed, step-by-step guide on how to do this:

• Instruct your bank: Ask your bank to make the cashier's or bank check payable to Apex Clearing Corporation, which is Ally's clearing firm.
• Name on the check: Ensure the bank prints your name as the remitter on the check.
• Matching names: The Ally Invest Securities account name and registration must match the name of the bank account from which the check is drawn.
• Personal checks: If you are sending a personal check, make it payable to Apex Clearing Corporation. Personal checks take three business days to clear.
• Other check types: Do not send starter checks, money orders, or credit card checks. If you are mailing a check to fund your IRA, specify the tax year for the contribution on the memo line of the check and submit it with the IRA Contribution form. Also, write on your check if this is a rollover contribution to an IRA.
• Mailing address: Send the check to the following address: Ally Invest Securities P.O. Box 30248 Charlotte, NC 28230.
• Check deposit slip: Download and include the check deposit slip with your check.
• Payee name: Remember that you are making the check payable to Apex Clearing Corporation, but you are mailing it to Ally Invest.

Other funding methods

As well as sending a check, you can also fund your Ally Invest account in the following ways:

• Transfer from a bank (ACH)
• Request a wire transfer
• Transfer from another broker

Robo Portfolios

Here's how it works: you tell Ally Invest about your financial goals and objectives, and they will use that information to pair you with a diversified portfolio. You can choose to pay no advisory fee or opt for a 0.30% annual fee to put more into the market. Once your Robo Portfolio is set up, you can sit back and relax as the robo-advisor takes care of the investing for you.

If you're interested in opening an Ally Invest Robo Portfolio, the process is simple. Go to the Robo Portfolios page on their website and select "Create My Plan." You'll be guided through a questionnaire to help determine the right investments for you. Once you have your customized plan, you can open an account, enter your personal information, and choose your funding options. After your application is approved, you'll be on your way to pursuing your financial goals with the help of Ally Invest's Robo Portfolio.

Frequently asked questions