Newest Ally Bank Promotions, Bonuses, Offers and Coupons: November 2022

Ally bank promotions

Ally Financial is perhaps most well known for Ally Bank, a full-service bank that offers checking and savings accounts, mortgages and loans, but minimizes overhead by operating only online, without physical branches. Those savings are passed along to account holders through competitive interest rates and other perks.

Financial institutions, like Ally, often run promotions to attract new customers. They are willing to pay you for your business, and you can earn hundreds of dollars when you open a new account — cash that can be helpful during the pandemic-hit economy.

Ally Bank Promotions

Ally is not currently offering any special promotions on its products and services, but that doesn’t mean it’s not worth considering if you’re looking for a new bank. Ally has consistently high APYs on its accounts and offers a wide range of financial services.

Benefits of Banking With Ally

Even though there are no Ally Bank bonuses offered at the moment, other benefits are available by banking with Ally. Checking and savings accounts have no maintenance fees or minimum balance requirements. The Interest Checking account earns up to APY, substantially higher than the national average of 0.04% APY.

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The rate difference is even higher on other products. An Ally Online Savings account earns APY, compared to the national average of 0.21% APY.

Ally’s money market account has an APY of . The national average for a money market account is 0.23% APY. Over time, these Ally Bank interest rate differences can really add up.

How To Open an Ally Account

Ally Bank has no physical branches, so you’ll have to open a new account online, over the phone or through the mail. Here’s how to open an account online:

  1. Find the type of account you want to open and click the corresponding “Open New Account” button.
  2. Provide the requested personal information, which includes:
    • Full legal name
    • Social Security number or tax identification number
    • Residential street address in the U.S.
    • Date of birth
  3. Submit the application. The bank will notify you through email about the status of the account.
  4. Fund the new account. You can transfer money from a linked account, deposit a check in the mobile app, submit a wire transfer or mail a check to the bank.
  5. Enroll in online banking.

Alternatively, you can call 877-247-2559 to open an account over the phone. You can also download an application from the bank’s website by navigating to the Forms section. Complete the application and mail it to:

Ally Bank
P.O. Box 951
Horsham, PA 19044

Are Ally Bonuses and Offers Right for You?

Keep in mind that bonuses shouldn’t be the only deciding factor when you’re choosing a new bank. They’re great to have, but the cash may not be worth it if the bank doesn’t offer the products and services you need to reach your financial goals. However, if you’re looking for a full-service financial institution that offers competitive rates and a variety of banking, borrowing and investing products, Ally is worth a second look.

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Julia Gordon contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on promotions is accurate as of Nov. 3, 2022. Additional requirements may apply. Offers and terms are subject to change.

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.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.

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A Better Way to Bank

About the Author

Joel Anderson is a business and finance writer with over a decade of experience writing about the wide world of finance. Based in Los Angeles, he specializes in writing about the financial markets, stocks, macroeconomic concepts and focuses on helping make complex financial concepts digestible for the retail investor.
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