Ally Bank offers many options for transferring money to other accounts with the same bank or with external parties and banks. However, its options for canceling existing transfers are limited by certain conditions and rules. To cancel a transfer you need to follow one of two possible solutions.
Ally Bank offers its customers numerous options for managing their personal and business banking. These options apply to both online and mobile platforms with the bank as well as in-person transactions.
One of the things that Ally Bank lets you do fairly easily and quickly is funds transfers to other Ally accounts or to accounts to other banks, even if they're in other countries. When you perform a transfer, however, you might find yourself wanting to cancel it before the transfer goes through.
Depending on timing or transfer type, this might not always be possible, but sometimes it is if you act on time. Here's how you can schedule and later (sometimes) cancel an existing transfer with Ally Bank.
Performing Fund Transfers with Ally Bank
With Ally Bank, you generally have several different transfer options to choose from, depending on your recipient. One of these is a direct wire transfer, which usually takes less than a day and involves a small fee.
Another option is an Automated Clearing House (ACH) transfer, which is free with Ally Bank and is highly secure. Ally doesn't charge anything for ACH transfers, even if they're made to other institutions. However, these types of transfers can take up to 3 days to complete.
Finally, Ally Bank also offers internal account transfers between your own accounts or to the accounts of other Ally Bank members. These are also free and can clear in minutes in some cases.
With all of these transfer options, you can log into your mobile or online Ally Bank account platform and will have to have the following information on hand:
To conduct any of the above transfer types, you'll need to follow the following steps either from your Ally.com online banking portal or through your Ally Bank mobile app:
1. Log in to your account portal via mobile or online banking.
2. Navigate to "Transfers" in your menu options and under Transfers, tap or click "Bank Transfers".
3. Go through Ally's account ownership verification, which may take anywhere from a few seconds to a couple of days depending on if you've previously made transfers.)
4. Enter your transfer amount and the destination account details as listed above.
5. Select whether you want to conduct a single transfer or a regularly scheduled transfer and then set the date for either.
6. Review all of your transfer details to make sure they're correct and then click or tap "submit".
Canceling Existing transfers with Ally Bank
For scheduled one-time or recurring transfers that haven't yet reached their maturity, you may be able to cancel them from within your online or mobile banking portal. By entering your account with either of these, you can go to "Transfers", see your existing, and pending transfers, and in some cases cancel them digitally.
If however a transfer has already gone through, it may not be possible to do this. In those cases, and for any other doubts about canceling existing transfers with the bank, you should contact an Ally Bank customer service representative by phone for personalized service.
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