Ally Invest Help Center: Withdrawals FAQs | Ally Invest (2024)

FAQs

Ally Invest Help Center: Withdrawals FAQs | Ally Invest? ›

How do I withdraw funds? You can request a transfer by logging in and selecting Transfers. You can also wire funds to another account for a $30 fee or request a check for a $5 fee. You can request a check be overnighted by phone for a total $50 fee.

You can make 10 limited withdrawals and transfers per statement cycle. You won't be charged a fee for excessive transactions, but we'll close your account if you exceed the limit on more than an occasional basis. Consult your tax professional for details on IRA distributions or withdrawals.

Stock trades take 2 business days to settle (Trade Date + 2 business days), options trades take 1 business day to settle (Trade Date + 1 business day). If needed, you can still sell a position purchased with unsettled funds prior to settlement and accept the freeride restriction.

Regular ACAT transfers (transfers from most other outside brokers) usually take 5-7 business days to show in your Ally Invest account. Non-ACAT transfers (transfers from outside banks, retirement companies, or mutual fund companies) may take several weeks before you receive by mail.

Here's an example of a schedule for a standard, 3-business-day transfer. The transfer is initiated on Wednesday and sent to the clearing house on Thursday. It isn't processed during Federal Reserve holidays or on weekends since clearing houses are closed then.

After 30 days, your daily spending limit will be $5,000 and $1,000 for an ATM withdrawal. If you have special circ*mstances and know you'll exceed this amount, call us in advance at 1-877-247-2559 to set up a one-time, extended limit.

Can you withdraw unsettled funds? 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.

Ally Invest charges a $50 transfer fee for each partial or full Automated Customer Account Transfer Service (ACATS) transfer of securities or cash from any Ally Invest account to another firm.

There's a $25 fee for terminating an Ally Invest IRA account, which is charged when all funds are removed from the IRA. If you make a full transfer out of your Ally Invest IRA account, there's both a $50 transfer fee as well as the previously mentioned $25 termination fee.

Why do Ally Bank transfers take so long? ›

Timing wise, a standard transfer from an Ally Bank account to a non-Ally Bank account takes three business days. So, a transfer requested on Monday will be delivered on Thursday. Transfers are not processed on weekends or federal holidays, and holidays may make the transfer period longer.

You can use your Ally Bank Spending, Savings or Money Market Accounts with Zelle®.

The ACH routing number will have to be included for sending an ACH transfer to any Ally Bank account. To send a domestic ACH transfer, you'll need to use the ACH routing number 124003116. You'll need to include the ACH routing number when sending an ACH transfer to any Ally Bank account.

Your account balance at the end of the day determines the rate we use to calculate your interest earned for that day. The interest you earn each day is then totaled and paid to you at the end of your monthly statement period.

Money is usually available within minutes as long as the recipient is already enrolled with Zelle. If you request money from someone who isn't already enrolled, you must use their email address.

Keep in mind, with this type of account there's a limit of 10 withdrawals per statement cycle.

No Withdrawal Limit Fee for the first 6 transfers or withdrawals per monthly statement cycle. A $10 fee applies for each withdrawal or transfer after the first 6 in a monthly statement cycle. A Rewards Savings account comes with, Mobile Banking, Automatic Transfers, Alerts, and Overdraft protection.

Checking accounts generally don't limit the number of withdrawals. If you hit the transaction limit and need to make another transfer or withdrawal from your savings account, do it at an ATM or in person at a bank. Try to avoid overdraft transfers, which could be counted as part of the six-transaction limit.

That means there's no longer any government regulation on how many monthly withdrawals you can make from your savings account. However, some banks still have their own limits in place. Most banks that have savings account withdrawal limits set the limit at six per month.