Call Ally's customer service line or use online banking to close your account
You can close an Ally savings account by phone, through the online banking portal, or by visiting an Ally Financial Center if one is near you. The fastest route is usually a phone call to Ally's customer service team at 1-855-925-2559, where a representative can walk you through the process and answer questions about your balance or pending transactions. If you prefer to handle it online, log into your Ally account, navigate to the account settings or account management section, and look for a "close account" or "deactivate account" option—though some account types require a phone call to complete the closure.
Before you initiate the closure, make sure your account balance is zero or that you have a plan for any remaining funds. Ally will not close an account with an outstanding balance. If you have money in the account, you can transfer it to another bank account (yours or someone else's) using Ally's transfer tools, or request a check from Ally, though a check can take several business days to arrive.
Key Takeaways
- Call Ally customer service at 1-855-925-2559 or use your online banking portal to request closure; phone is usually faster.
- Your account balance must be zero before Ally will close the account, so transfer or withdraw all remaining funds first.
- Transfers to another bank account typically complete within one to two business days; checks take longer.
- After closure, Ally will send you a final statement and may take up to 30 days to fully process the closure.
- If you have a linked checking account or other Ally products, closing one account does not automatically close the others.
Transfer your money before requesting closure
Ally offers several ways to move your savings to another account. The fastest method is an external transfer through your Ally online banking dashboard. You can add a receiving bank account (yours at another bank, or someone else's account if you are sending them money) and initiate a transfer. Ally typically completes these transfers within one to two business days, depending on the receiving bank's processing time.
If you do not have another bank account set up or prefer not to transfer electronically, you can request a check from Ally. This takes longer—usually five to ten business days—because the check must be printed, mailed, and then deposited by you. Some people choose this route if they are closing the account because they are leaving the country or do not have another active bank account yet.
Do not close the account until the transfer or check request is complete and the balance shows zero. Ally's system will reject a closure request if any balance remains.
What happens to your account after closure
Once Ally processes your closure request, the account will no longer accept deposits or withdrawals. You will lose access to that account through your online banking portal, though Ally keeps records of the account for tax and regulatory purposes. If you had automatic deposits or payments set to that account, those will fail after closure, so update any direct deposit instructions or automatic bill payments before you close.
Ally will send you a final statement showing the account activity up to the closure date. This statement is important for your records, especially if you had interest earned on the account—you may need it for tax reporting. Keep this statement for at least one year.
Closing a linked checking account does not close your savings account
If you have both an Ally savings account and an Ally checking account, closing one does not close the other. You must request closure for each account separately. The same applies if you have other Ally products like money market accounts or CDs. Contact Ally for each account you want to close, or handle multiple closures in a single phone call by telling the representative which accounts you want shut down.
If you have a CD (certificate of deposit) with Ally, you may face an early withdrawal penalty if you close it before the maturity date. Ask Ally about any penalties before you proceed with closure.
Timing and what to expect after you request closure
The closure process usually takes between five and thirty days from the date you request it, depending on whether there are any pending transactions or holds on the account. Ally may take longer if there are unresolved disputes, pending transfers, or if the account has been inactive for a long time. Once the closure is final, you will not be able to reopen the same account number—if you want to bank with Ally again in the future, you would open a new account.
If you are closing because of a problem with the account or service, tell the representative during the closure call. Ally may offer to resolve the issue instead, or they may ask for feedback about why you are leaving.
Frequently Asked Questions
Can I reopen my Ally savings account after I close it?
You cannot reopen the exact same account number, but you can open a new Ally savings account at any time. There is no waiting period or penalty for opening a new account after closure. Your previous account history will still be visible in your records if you log back in with your Ally credentials.
What if I have pending transactions when I try to close?
Ally will not close an account with pending transactions. Wait for all transfers, checks, and deposits to clear before requesting closure. If a transaction is stuck in pending status for more than a few business days, contact Ally to investigate and clear it.
Do I need to close my account in person?
No. Ally is an online bank and does not require in-person closure. Phone and online methods are available to all customers. If you live near an Ally Financial Center, you can visit in person, but it is not necessary.
Will closing my account hurt my credit score?
Closing a savings account does not affect your credit score. Credit scores are based on credit history (loans, credit cards, payment history), not on bank account closures. Closing a savings account is a routine banking action with no credit impact.
What if I forgot my online banking password?
You can still close your account by phone. Call Ally customer service and provide your account number and personal information to verify your identity. The representative can process the closure without requiring you to log in online.