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Ally Invest Close Account and ACAT Fee. How To Cancel Ally Invest Account.


2019 Ally Invest account closure fee and account transfer cost, address. How to close brokerage investing or IRA accounts online. Ally Invest stock trading account deletion and canceling fees.



Ally Invest Account Cancellation Fee


Ally Invest does not impose any closure fees for regular brokerage accounts. However, for IRAs (Traditional, ROTH, SIMPLE, or SEP) there is $50 charge to close an account.


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Ally Invest ACAT Fees


Ally Invest ACAT fee is $50 for full or partial account transfer (stock positions, mutual funds, ETF's). This transfer fee applies also to all Ally Invest IRA accounts: ROTH, Traditional IRA, SEP, and SIMPLE IRA.


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TD Ameritrade $0 $49.95 $0 $0 Trade stocks and ETFs for free + get up to $600 bonus.
Firstrade $0 $0 $0 $0 $0 commissions + up to $200 in transfer fee rebates.
Vanguard $7-$20 $8-$35 $20* $20* None


How To Close Ally Invest Account


So you’re thinking about closing your Ally Invest brokerage account. Well, we hope it’s because you have found a better broker and not because you have given up on investing. In any case, we’ll give you the instructions you need to close your account with the least hassle possible.


Automated Customer Account Transfer (ACAT)


Perhaps the easiest way to close a brokerage account is to transfer the entire account to another brokerage firm using the ACAT system. This is an electronic service that will move all the securities in your current account to a new brokerage firm. Investments in your account won’t be sold; they will simply be moved into a new account at the broker-dealer of your choice.

ACAT is obviously the best choice if you don’t want to liquidate any of your holdings. On the downside, Ally Invest does charge $50 for its side of the transfer. Most receiving brokers won’t charge anything.

To start an ACAT, you’ll fill out a form with the new brokerage house. Nowadays, this is usually an e-form. The process will take a few days, so make sure you do any trading during this timeframe.

Once your securities are moved to the new brokerage firm, your Ally Invest account will be automatically closed.


Closing With a Wire Transfer


A second method to close an Ally Invest account would be to first sell all holdings in the account and then move the cash out using a wire transfer. The proceeds can be sent either to a bank account or a brokerage account.

While the ACAT system takes several days to complete, wires usually are done the same day or next morning. Obviously, using a wire is the better route if you need cash quickly.

Although there is no need to contact Ally if you’re closing your account with an ACAT, you will need to contact Ally and request your account be closed if you send cash out with a wire. You could leave the account open with a zero balance; although for safety reasons we don’t recommend doing this.

Ally Invest does charge $30 for an outgoing domestic wire.


How to Contact Ally Invest


Once your wire is complete and your Ally account has a $0 balance, you’ll want to contact the brokerage firm and request your account be closed. There are several ways to do this.

First, you could call Ally Invest at 1-855-880-2559 anytime of the day or night. The broker also offers an online chat service that is staffed most hours of the day, but it’s not a 24/7 service like the phone number.

The link to the chat service is located at the top of the website. You’ll need to copy and paste your account number into the chat form when contacting the broker to request your account be closed.

A third option is to send a message to the broker’s service e-mail (support@invest.ally.com). Once again, you’ll need to include your account number.

The final method to reach out to Ally Invest is to snail mail a letter to the company requesting an account closure. Its customer service address is:

Ally Invest
P.O. Box 49050
Charlotte, NC 28277-3432


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Automated Clearing House (ACH)


If you don’t want to send a wire because of the fee, you could alternatively use the ACH system. Ally Invest does not charge anything for sending cash out of an account via ACH. However, an ACH transfer usually takes longer than a wire; and Ally limits ACH transfers to just $10,000. The broker only permits one ACH transfer per day. Furthermore, IRA withdrawals cannot be made with the ACH system at Ally Invest.


Methods That Are Not Available


Ally Invest doesn’t have any branch locations; so you won’t be able to close an account in person. Checkwriting is available, but the broker-dealer requires $100,000 in assets to have checks added to an account.


Alternatives to Ally Invest


If you’re looking for a replacement for Ally Invest, there are several brokers we can recommend. Firstrade has a similar lineup of services, but has zero commissions. Fidelity and Schwab have similar pricing, but offer more services and trading tools. Like Ally, TD Ameritrade offers forex trading.