Ally Bank Wire Transfers: How They Work and What Fees To Expect

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Ally Bank allows customers to receive wire transfers from any bank, while outbound wire transfers are limited to U.S. banks.

How To Send Wire Transfers With Ally

1. Visit the Ally Bank website to download and complete the Domestic Wire Transfer Request Form.
2. Gather the recipient’ ‘sinformation:
   • Receiving bank’s name and routing number.
   • Beneficiary bank’s name and account number.
   • Recipient’s name and account number.
3. Schedule the wire transfer. You can choose up to 30 days in advance.
4. Once the transfer is processed, it can’t be canceled.

Account Age Requirement

After 90 days of account opening, you can wire any amount. Until then, the limit is $25,000, though Ally may waive this upon request.

How Long Does an Ally Bank Wire Transfer Take?

An Ally Bank wire transfer can be processed the same day, if the requests are submitted by 3 p.m. ET. Typically, wire transfers are processed as they are received. Ally may need to contact you to verify the transaction as well, so it’s good to keep your phone handy.

If you need to check the status of your wire transfer, look for “Status Tracker” in your Ally account.

Receiving Wire Transfers

If you expect a wire transfer to your Ally account, you’ll need to provide a few details to the sender. This ensures the wire is delivered to the right place without delays. Provide the following:

• Receiving bank: Ally Bank
• ABA/Routing number: 124003116
• Bank address: 200 West Civic Center Drive, Sandy, UT 84070
• Beneficiary account number: Your Ally Bank account number
• Beneficiary name: Your full name as it appears on your Ally account

For international transfers involving an intermediary bank, like JPMorgan Chase:

• Receiving Bank: JPMorgan Chase Bank, N.A.
• ABA/Routing Number: 021000021
• SWIFT Code: CHASUS33
• Beneficiary Account Number: 802904391
• Further Credit: Your Ally Bank account number and name.

Ally Bank Wire Transfer Fees

• Ally refunds the $20 fee for wires sent to Ally Invest accounts.
• While Ally doesn’t charge for incoming wires, intermediary banks like Chase may apply fees.

How Long Do Ally Bank Wire Transfers Take?

• Domestic transfers: Same day if processed before 3 p.m. ET.
• International transfers: Timing depends on the intermediary bank’s processes but typically takes 1 to 2 business days.

How To Avoid Wire Transfer Fees

• Transfer within Ally: Send funds to Ally Invest to avoid fees.
• Explore other transfer methods: Use ACH transfers for non-urgent payments.
• Verify details: Incorrect information can lead to additional costs.

What Is a Wire Transfer?

A wire transfer is an electronic transaction moving funds between financial institutions. For domestic wires, the Fedwire network facilitates the transaction in real-time. For international wires, the SWIFT network is used, which may introduce slight delays.

Who Should Use Wire Transfers?

Wire transfers are ideal for:

• Large transactions: Real estate purchases, business payments
• Fast payments: When timing is critical
• Secure transfers: Verified transactions minimize fraud risks

Pro Tip: Avoid Scams

• Always double-check recipient information.
• Be wary of unsolicited requests for wire transfers.
• Confirm details over the phone if possible.

Final Take To GO

Ally Bank wire transfers provide a reliable way to send and receive funds, especially for large transactions. While fees apply for outgoing domestic wires, Ally offers ways to minimize costs, especially when transferring within Ally accounts. Always double-check recipient details to ensure a smooth transaction and make smarter money moves.

More About Ally Bank

• Ally Bank Review
• Ally Bank CD Rates
• Ally Bank Savings Account Interest Rates
• Ally Bank Hours
• Ally Bank Fees

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

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