The fastest way to withdraw from Ally savings

You can withdraw money from your Ally savings account through your online dashboard, mobile app, or by phone. Ally does not have physical branches, so you cannot walk into a location to withdraw cash. The most common methods are transferring money to another bank account you own, using an ATM network partner, or requesting a check by mail.

Transfers to your own external bank account usually arrive within one to two business days. ATM withdrawals are when ready if you use an in-network ATM. Checks take five to ten business days to arrive by mail, depending on postal service timing.

Key Takeaways

  • You can transfer money from Ally savings to any external bank account you own through the online dashboard or mobile app in minutes.
  • Ally partners with the Allpoint and MoneyPass ATM networks, so you can withdraw cash at thousands of ATMs without a fee.
  • You can request a check by mail through your account, though it takes longer than electronic transfers or ATM withdrawals.
  • Ally savings accounts have a federal limit of six withdrawals per month; transfers to your own accounts do not count toward this limit.
  • Phone support can process withdrawals and answer questions about your account 24 hours a day, seven days a week.

Transferring money to another bank account

The most straightforward withdrawal method is an electronic transfer to a bank account in your name at another institution. Log into your Ally account online or through the mobile app, select "Transfer Money," and choose the external account you want to send funds to. If this is your first transfer to that account, you will need to add it and verify it first—Ally will send two small deposits to confirm you own the account, which takes one to two business days.

Once the account is verified, transfers typically arrive within one to two business days. Some transfers arrive the same day if both banks process it quickly, but you should not count on same-day arrival. There is no fee for transfers to your own accounts at other banks.

Using ATMs to withdraw cash

Ally partners with two major ATM networks: Allpoint and MoneyPass. You can withdraw cash at any ATM in either network without paying a fee. Both networks have thousands of ATMs across the United States, including locations at grocery stores, pharmacies, and convenience stores. You can find nearby ATMs by searching the Allpoint or MoneyPass locator tools on their websites, or by using the Ally mobile app, which shows partner ATM locations near you.

Withdrawals are when ready—the cash comes out right away and your account balance updates within minutes. If you use an ATM outside these networks, Ally does not charge you a fee, but the ATM operator may charge you a surcharge of $2 to $3, depending on the machine.

Requesting a check by mail

You can request a check from Ally through your online account or by calling customer service. Ally will mail the check to the address on file for your account. The check typically arrives within five to ten business days, depending on mail delivery times in your area. Once you receive it, you can deposit it into another account or cash it at a bank or check-cashing service.

This method is slower than transfers or ATM withdrawals, so use it only if you need a physical check or if the other methods do not work for your situation.

Understanding the six-withdrawal limit

Federal regulations limit savings accounts to six withdrawals per month. However, this limit applies only to certain types of withdrawals—specifically, transfers to other accounts and checks. ATM withdrawals do not count toward this limit, and neither do transfers to your own accounts at other banks (those are considered transfers, not withdrawals). If you exceed six withdrawals in a month, Ally may charge a fee or convert your account to a checking account.

In practice, most people do not hit this limit because they use ATMs for cash and make only a few transfers per month. If you find yourself needing more than six withdrawals monthly, ask Ally about converting to a checking account, which has no withdrawal limits.

Withdrawing money by phone

You can call Ally customer service at 1-877-247-2559 to request a withdrawal. A representative can set up a transfer to another account, mail you a check, or answer questions about your account. Phone support is available 24 hours a day, seven days a week. Have your account number and the details of where you want the money to go ready before you call.

Phone withdrawals take the same amount of time as online withdrawals—transfers arrive in one to two business days, and checks take five to ten days. Phone support is useful if you are not comfortable using the online dashboard or if you have questions about your account.

What to do if you cannot access your account

If you forgot your password, call Ally customer service or use the "Forgot Password" link on the login page to reset it. If your account is locked or frozen due to suspicious activity, Ally will contact you by phone or email. Do not ignore these messages—respond quickly so Ally can unlock your account and you can withdraw your money.

If you believe your account has been compromised or you see unauthorized transactions, contact Ally when ready by phone. They can freeze your account, reverse fraudulent transfers, and help you find it. The sooner you report the issue, the better your chances of recovering the money.

Frequently Asked Questions

Can I withdraw money the same day I request it?

ATM withdrawals are when ready. Transfers to other banks usually take one to two business days, though some arrive the same day if both banks process quickly. Checks take five to ten business days by mail. If you need cash today, use an ATM at an Allpoint or MoneyPass location.

What happens if I exceed six withdrawals in a month?

Ally may charge a fee for each withdrawal over six, or convert your account to a checking account. ATM withdrawals do not count toward the limit, so you can use ATMs as often as you want without triggering the fee.

Is there a minimum or maximum amount I can withdraw?

Ally does not publish a specific minimum withdrawal amount, but you cannot withdraw more than your account balance. Some ATMs have daily withdrawal limits—usually $500 to $1,000 per day—depending on the machine and your bank's settings. Call Ally if you need to withdraw a large amount and want to confirm your daily limit.

Can I withdraw money if my account is closed?

No. Once your account is closed, you cannot withdraw money through the normal channels. If you have funds in a closed account, contact Ally customer service when ready. They can reopen the account temporarily or mail you a check for the remaining balance.

Do I pay taxes on money I withdraw from my savings account?

No. Withdrawing your own money is not a taxable event. You only pay taxes on interest your account earned. Ally sends you a 1099-INT form each year showing the interest you earned, which you report on your tax return.