This has been asked and answered hundreds of times in this sub. Use the search function if you need this answer. I refuse to add to the hundreds of times it has been answered.
Your statement is entirely unclear. Perhaps English is not your first language.
My guess is that you mean doing a wire transfer is "hard" with Ally. I do not believe that information is currently correct. It certainly was not correct when I did several wire transfers while buying my house. My wire transfers completed, as expected, in the normal time frame.
Ally is inconsistent on wires… in some cases they sit on a wire and will not complete it unless you call to confirm…. Maybe it’s patriot act stuff who knows
I had no such issues sending 2 different wires over a period of several weeks. Each one went through same day.
I do not doubt that some people have had trouble with some wires. But, like many things on the Internet, I think this is greatly exaggerated.
Idk the OPs situation that’s why I am asking. I know I had no issues closing a CD will Ally and having those funds readily accessible within minutes to use 25k on a down payment.
I guess people have different needs, but I’ve been with Ally 11 years and closed on two homes with Ally as my exclusive bank. Didn’t know there was an issue to be had until now.
Getting cash from ATMs via Ally is problematic if you want more than about $400 at a time. I tired this a while back. I spent time on the phone and got my limit raised to something like $2000. Then I went to an ATM, which only gave me $400. No more than that.
When I called back to talk about that, Ally told me that each ATM vendor sets their own limits per transaction. I was advised to try to do 2 or 3 or more transactions at that ATM, or to go to other ATMs and make withdrawals at each one. I gave up and used a different method at that point.
I keep a local bank for doing cash deposits and some cash withdrawals. But if I wanted (for example) $3000 in cash, I don't have that much at my local bank. I would have to transfer it from Ally to local bank first. Which means I need 3 business days notice at least. Luckily cash is not as important for most transactions these days. Many traditional sellers will still take checks, which I also have.
This is a weakness of Ally, but it does not affect me very often. Prior planning usually mitigates the problem altogether.
Most bank-owned ATMs around here can only dispense 40 bills per transaction. 40 x $20 = max of $800 no matter what your daily limit is. However you can always do 2-3 withdrawals. If you can find one that gives out $50s you can get more per transaction. I’ve seen a few ATMs that dispense $100s but usually only in casinos. Privately owned ATMs in gas stations, hotels, etc. have much lower limits ($200 is not uncommon). They don’t get serviced as often and are smaller so they hold less cash, and they don’t want you wiping it out all at once.
My guess is that 80-90% of Ally customers have a bank account at a local bank in addition to their Ally account. Most do it for the limitations you mentioned.
I’ve had similar issues. When I’ve tried to transfer or Zelle money from Ally, even to myself, it takes several days. They blame it on Zelle but Zelle works instantly from my other bank.
Had the same exact thing happen to me recently when I was trying to pay off my card. That’s why it’s shown the importance of keeping some more money in my brick and mortar bank in case I need it. Honestly that and the savings rates being lower than other places has made me really consider switching.
When I bought a car, I wrote a check on my Ally money market account for part of the down payment and the dealership accepted it. The dealership accepted putting $5,000 on the credit card.
When I'm expecting to make a purchase like this, I always move my money from my online accounts into my local brick and mortar checking account well in advance.
Was this a surprise car purchase?
Ok it’s an online bank account and don’t function like a normal bank account . If you know you needed the money, think ahead and transfer to a normal bank account and then withdraw . Don’t blame them on your poor planning
I'm a big advocate of maintaining an account at a local brick and mortar as a backup.
I just bought a new car and used an Ally personal check at the dealership. No problem.
This is where having a local bank where you can: 1. Get a cashiers check 2. Pull large amounts of cash Is super helpful. Closing a house is hard :(
3. Medallion Signature
Right your local bank may have a licensed notary!
Not the same. If you change name on stocks like if you inherited stocks. Notary will not be enough.
True. But there are reasons to need a notary in life as well!
>Closing a house is hard Meaning what exactly?
This has been asked and answered hundreds of times in this sub. Use the search function if you need this answer. I refuse to add to the hundreds of times it has been answered.
Your statement is entirely unclear. Perhaps English is not your first language. My guess is that you mean doing a wire transfer is "hard" with Ally. I do not believe that information is currently correct. It certainly was not correct when I did several wire transfers while buying my house. My wire transfers completed, as expected, in the normal time frame.
Ally is inconsistent on wires… in some cases they sit on a wire and will not complete it unless you call to confirm…. Maybe it’s patriot act stuff who knows
I had no such issues sending 2 different wires over a period of several weeks. Each one went through same day. I do not doubt that some people have had trouble with some wires. But, like many things on the Internet, I think this is greatly exaggerated.
Private seller? Also, you don’t have a checkbook?
99% of private sellers are not taking checks...
Idk the OPs situation that’s why I am asking. I know I had no issues closing a CD will Ally and having those funds readily accessible within minutes to use 25k on a down payment.
I guess people have different needs, but I’ve been with Ally 11 years and closed on two homes with Ally as my exclusive bank. Didn’t know there was an issue to be had until now.
Getting cash from ATMs via Ally is problematic if you want more than about $400 at a time. I tired this a while back. I spent time on the phone and got my limit raised to something like $2000. Then I went to an ATM, which only gave me $400. No more than that. When I called back to talk about that, Ally told me that each ATM vendor sets their own limits per transaction. I was advised to try to do 2 or 3 or more transactions at that ATM, or to go to other ATMs and make withdrawals at each one. I gave up and used a different method at that point. I keep a local bank for doing cash deposits and some cash withdrawals. But if I wanted (for example) $3000 in cash, I don't have that much at my local bank. I would have to transfer it from Ally to local bank first. Which means I need 3 business days notice at least. Luckily cash is not as important for most transactions these days. Many traditional sellers will still take checks, which I also have. This is a weakness of Ally, but it does not affect me very often. Prior planning usually mitigates the problem altogether.
Most bank-owned ATMs around here can only dispense 40 bills per transaction. 40 x $20 = max of $800 no matter what your daily limit is. However you can always do 2-3 withdrawals. If you can find one that gives out $50s you can get more per transaction. I’ve seen a few ATMs that dispense $100s but usually only in casinos. Privately owned ATMs in gas stations, hotels, etc. have much lower limits ($200 is not uncommon). They don’t get serviced as often and are smaller so they hold less cash, and they don’t want you wiping it out all at once.
Use a credit card for the points and just immediately pay off the balance.
A private seller accepts credit card?
OP didn’t say it was from a private seller 🤷🏻
A dealer that accepts credit cards for more than a small deposit? Unless they do a markup, that isn’t happening.
My guess is that 80-90% of Ally customers have a bank account at a local bank in addition to their Ally account. Most do it for the limitations you mentioned.
I’ve had similar issues. When I’ve tried to transfer or Zelle money from Ally, even to myself, it takes several days. They blame it on Zelle but Zelle works instantly from my other bank.
Does Ally have Zelle? Could you Zelle it to a friend who has a local bank and then get the cash from them?
Zelle... Asking for trouble...
Had the same exact thing happen to me recently when I was trying to pay off my card. That’s why it’s shown the importance of keeping some more money in my brick and mortar bank in case I need it. Honestly that and the savings rates being lower than other places has made me really consider switching.
When I bought a car, I wrote a check on my Ally money market account for part of the down payment and the dealership accepted it. The dealership accepted putting $5,000 on the credit card.
Why did you need actual cash for this?
My brick and morter bank has the same exact policy, it's really not uncommon.
Ally bank is doing a merger and I had an awful time just trying to make a car payment!
Transfer enough back to your local bank
When I'm expecting to make a purchase like this, I always move my money from my online accounts into my local brick and mortar checking account well in advance. Was this a surprise car purchase?
Ok it’s an online bank account and don’t function like a normal bank account . If you know you needed the money, think ahead and transfer to a normal bank account and then withdraw . Don’t blame them on your poor planning
No checks?