Close your Ally savings account by phone, online, or in writing

You can close an Ally savings account through three methods: calling Ally customer service at 1-855-435-2559, submitting a request through your online account, or sending a written request by mail. Ally does not charge a fee to close a savings account. You do not need a reason to close, and the process typically takes three to five business days once Ally receives your request.

Before you close, make sure any pending transactions have cleared and decide what to do with your remaining balance. Ally will not automatically transfer money out—you must either request a transfer to another bank account or ask for a check. If you have a linked checking account with Ally, you can move funds between accounts before closing the savings account.

Key Takeaways

  • Call 1-855-435-2559, log into your online account, or mail a written request to close your Ally savings account without a fee.
  • Your remaining balance will not transfer automatically—you must request a transfer to another bank or ask Ally to mail you a check.
  • The closure takes three to five business days after Ally processes your request.
  • Make sure all pending transactions have cleared and you have downloaded or saved any statements you need before closing.
  • If you have an Ally checking account, you can keep it open while closing only the savings account.

Closing by phone is the fastest method

Call Ally customer service at 1-855-435-2559 and tell the representative you want to close your savings account. Have your account number ready. The representative will confirm your identity, ask about your remaining balance, and walk you through how to move or receive that money. If you have funds in the account, you can request an electronic transfer to another bank account (which takes one to three business days) or ask Ally to mail you a check.

Phone lines are open Monday through Friday, 9 a.m. to 8 p.m. Eastern time, and Saturday 10 a.m. to 6 p.m. Eastern time. Ally does not offer phone support on Sundays. If you call outside these hours, you can leave a message and a representative will contact you the next business day.

Closing through your online account

Log into your Ally account on the website or mobile app and navigate to your account settings. Look for an option labeled "Close Account" or "Account Services." Select your savings account and follow the prompts to request closure. You will need to specify what to do with your remaining balance—transfer it to another account or request a check.

After you submit the request online, Ally will send you a confirmation email. Keep this email for your records. The account closure will process within three to five business days. If you do not receive a confirmation email within a few hours, log back in to verify the request went through.

Closing by mail

Write a letter to Ally requesting closure of your savings account. Include your full name, account number, the account type (savings), and your signature. State whether you want your remaining balance transferred to another bank account (provide the routing number and account number) or mailed to you as a check. Send the letter to Ally Bank, P.O. Box 25286, Salt Lake City, UT 84125-0286.

Mail typically takes five to seven business days to reach Ally, plus another three to five business days for processing. This method is slower than phone or online closure, so use it only if you cannot access the other options. Keep a copy of your letter and consider sending it via certified mail so you have proof of delivery.

What happens to your remaining balance

Ally will not close your account if you have a balance remaining—you must move or withdraw that money first. You have three options: request an electronic transfer to another bank account you own, ask Ally to mail you a check, or transfer the money to an Ally checking account if you have one.

Electronic transfers to another bank typically take one to three business days. Checks are mailed to your address on file and can take seven to ten business days to arrive. If you transfer to another Ally account, the money moves immediately. Do not close your account until you confirm the money has arrived in its new location.

Prepare your account before closing

Download or save copies of your statements for tax records or your own files. Ally keeps statements available online for seven years after you close the account, but it is easier to save them now. You can download statements through your online account under "Statements" or "Documents."

Check that all pending transactions have cleared. If you have automatic deposits or transfers set up, cancel them before you close the account. If a direct deposit or automatic payment tries to post after closure, it will be rejected, which could cause problems with your employer or creditors. Log into your account and review the "Transfers" or "Scheduled Transactions" section to see what is set up.

After your account closes

Once Ally processes the closure, you will no longer be able to log into that account. Your debit card (if you had one linked to the savings account) will stop working. Ally will send you a confirmation letter in the mail within one to two weeks stating the account is closed.

Keep this confirmation letter with your financial records. If you ever need proof that the account is closed—for a loan application, tax purposes, or dispute resolution—you can reference this letter. If you did not receive a confirmation letter within three weeks, contact Ally to request one.

Frequently Asked Questions

Will Ally charge me to close my savings account?

No. Ally does not charge a fee to close a savings account. There are no penalties or charges for closure, regardless of how long you have held the account or how much money is in it.

What if I have a pending direct deposit or automatic payment?

Cancel any automatic transactions before you close the account. Log into your account and remove scheduled transfers or direct deposits. If a payment tries to post after closure, it will be rejected, which could trigger overdraft fees at your other bank or late fees from a creditor.

Can I reopen my Ally savings account after closing it?

Yes, you can open a new Ally savings account at any time. However, you will be treated as a new customer, and the old account number will not be reactivated. You will need to go through the account opening process again.

How long does it take for my money to arrive after I request a transfer?

Electronic transfers to another bank account take one to three business days. Checks mailed to you take seven to ten business days. Transfers to another Ally account are immediate. The closure itself takes three to five business days after you submit the request.

What if I close my savings account but keep my Ally checking account?

You can close only the savings account and keep the checking account open. Tell the representative or specify in your online request that you want to close only the savings account. Your checking account will continue to work normally.