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Ally Invest Withdrawal Fee, Terms and How To Transfer Funds Out of Brokerage Account


2020 Ally Invest withdrawal fee, transfer funds to bank options, terms for moving cash, getting money out of brokerage account by ACH, wire transfer, debit card, ATM, or check.



Ally Invest ACH Withdrawal Terms


If you need to get money out of a brokerage account with Ally Invest, there are several methods you can use. The broker-dealer has an easy-to-use online form that appears on the ‘Account Summary’ tab directly below the ‘My Accounts’ tab. Clicking on these will produce a balance section, which displays how much can be moved out of a trading account. Next to the balances section is a smaller area that says ‘Transfer Money.’ Here both deposits and withdrawals can be initiated. An external bank account must already be on file with Ally Invest. It can be either a checking or a savings account. An Ally Bank account can be linked as well.


Ally Invest Transfer Money


Ally Invest Money Withdrawal By Check


A paper check can be sent to your address on file. There is a $5 charge for using this method. To locate the on-line form, simply go to ‘My Accounts’ and then click on ‘Transfer Funds.’ To the right of this selection will appear a few choices. Click on ‘Withdraw Funds.’ Next a page will appear with several cash management choices. Under ‘Transfer Money’ click on ‘By Check,’ and then choose the link that says, ‘I want to withdraw money from my Ally Invest account.’ Finally, the appropriate form will appear with your address pre-filled.


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Ally Invest Wire Transfer Funds


Funds can also be wired out of an Ally Invest account. The appropriate link is found on the same page where the paper check was requested. Under ‘Transfer Money’ just select ‘By Wire’ instead of ‘By Check.’ Here, a wire authorization form will be found in pdf format. This document must be filled out and submitted to the broker. It can be sent using an internal upload tool. Alternatively, you can send it via snail mail, fax, or take a picture of it and email it as an attachment.

At Ally Invest, there is a $30 charge for outgoing domestic wires and a $50 fee for foreign wires.


Ally Invest ACAT Withdrawal


Instead of just moving a cash position, you could transfer an entire account to another broker. Ally Invest accounts can be moved in whole or in part using ACAT service. The broker-dealer charges $50 for a whole or partial transfer.


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Ally Invest Money Transfer By Debit Card or Checkwriting


Checks and a debit card can be added to an Ally Invest trading account, and these tools could be used to withdraw funds. Using this method might actually be easier than the other choices listed here. However, the brokerage firm requires a staggering $100,000 to add these banking features. If you have this much sitting in your securities account, Ally will charge $35 per year for the ATM card, $5 for every check posted, and a $20 annual fee for checkwriting privileges. There is also a $1 charge for each cash machine withdrawal. The broker does not refund any ATM fees.


Moving Whole Account


If you want to transfer your Ally Invest account to another firm, read Ally account transfer article.


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