Based in the US, Ally Bank doesn’t operate internationally and only offers services to US citizens and residents¹.
So, as it isn’t an international bank, is it possible for customers to make international wire transfers?
We’ll answer this question below, along with info on Ally wire fees and whether you can receive money from abroad.
Unfortunately, Ally Bank discontinued outgoing international money transfer services in 2013².
However, you can still make domestic wire transfers within the US using your Ally account. It’s easy to set up using online banking. All you’ll need to do is complete the online wire transfer form - you may receive a call afterwards to verify your request. Alternatively, you can print a paper version of the form and fax it back to the bank³.
You may also be able to receive incoming wire transfers from overseas with your Ally account. We’ll look at how that works later, along with Ally Bank wire fees.
You can’t send an international wire transfer with Ally Bank, but you can still send domestic ones. And as you might expect, there are charges involved.
Let’s take a quick look at Ally Bank wire transfer fees, including for receiving money from abroad:
|Transfer type||Ally wire transfer fees³|
|Sending international wire transfer||Not available|
|Sending domestic wire within US||$20|
|Receiving a domestic wire||No fee - but the bank sending the wire may charge a fee.|
|Receiving an international wire||No fee - but intermediary bank fees may apply.|
When it comes to intermediary bank fees, these can vary. When you transfer money between banks, it’s generally done via SWIFT, which means your money may pass through multiple banks before reaching its destination. Each of those banks can charge a fee.
|💡 There’s also exchange rates to consider. On top of the possibility of intermediary fees, banks can also mark up the exchange rates they use to convert your transfer into the destination bank’s currency, keeping the extra for themselves.|
If you’re still looking for a way to send money internationally as an Ally Bank customer, consider an alternative money transfer service like Wise. You can still send the money from Ally Bank, but by using Wise’s platform and new technology.
Wise allows you to send money abroad for a low, transparent fee and the exact mid-market exchange rate. This is the same rate you find on Google, and it’s the fairest you can get.
There are no subscription or account fees, no intermediary bank fees and no ‘hidden’ fees in the exchange rate. Only fair, cheap money transfers, every time.
|💡 There’s even a Wise Business account, which is especially useful considering that Ally doesn’t offer business checking accounts..|
See how much you can save with Wise:
Even though you can’t make an outgoing Ally international wire transfer, you can still receive them.
Here’s what you’ll need to provide to the sender to make sure your incoming international wire goes to the right place³:
- Receiving Bank: JP Morgan Chase Bank, N.A. (this bank processed wire transfers on behalf of Ally Bank)
- ABA/Routing Number: 021000021
- Address: 1 Chase Manhattan PLZ, New York, NY 10005
- SWIFT Code or Bank Identification Code: CHASUS33
- Beneficiary Account Number: 802904391
- Beneficiary Name: List 'Ally Bank' since the wire is being processed by JP Morgan Chase Bank, N.A.
- Further Credit: Your Ally Bank Account Number and your name as it appears on your Ally Bank account.
If you need help or have a question about Ally Bank transfers, here’s how to get in touch with customer services:
+1-757-247-2559 (outside the US)
|Login to online banking or the Ally Mobile app to send a secure message.|
|General Bank Correspondence |
Ally Bank Customer Care
P.O. Box 951
Horsham, PA 19044
All sources checked on 06-Jul-2022
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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