Ally Invest

Ally Invest DRIP: Dividend Reinvestment Program


2018 Ally Invest dividend reinvestment program (automatic) fees and setup. Does Ally Invest offer DRIPs for free? Ally DRIP plan review for stocks, ETFs, and mutual funds.



Ally Invest DRIP Plans


Ally Invest has a Dividend Reinvestment Plan, otherwise known as a DRIP. To be eligible for the firm's DRIP service, a stock or ETF must have a minimum volume of 50,000 trades per day. A security must also be DTC eligible. This means that the shares must be qualified to be deposited into the DTC, which is the Depository Trust Company. This organization helps brokerage houses to process transactions and improve liquidity.

Cash dividends are reinvested as shares of the underlying security. The shares are purchased at the prevailing market price on the payable date. Ally Invest also offers fractional shares for dividend payments that do not result in a whole share.

An entire account can be enrolled in the broker's DRIP service. This does not necessarily mean that every stock or ETF will automatically have dividends reinvested. Some smaller stocks may not be eligible for Ally Invest's DRIP service, as noted above. If you have any concerns about a particular security's eligibility, a Ally Invest associate can give you the answer. Customer service can be reached at 1-877-495-5464, via e-mail at service@allyinvest.com, or through on-line chat.

New account promotion: Up to $3,500 cash bonus + commission free trades for new accounts.

If you don't want your entire account enrolled in the DRIP service, Ally Invest does permit its clients to set up the DRIP service only on selected securities. Keep in mind that only stocks and ETF's can be included in the DRIP system. Mutual funds cannot be enrolled.

Ally Invest previously offered a feature called AutoTrade. Under this program, investors were able to add an investment newsletter to a brokerage account. If the newsletter recommended the purchase of a particular stock, a computer program would automatically enter a buy order for the security. Ally Invest recently suspended the program. Nevertheless, if there is adequate interest from the broker's customers for either AutoTrade or an automatic investing plan for mutual funds, perhaps the broker will add the service in the future.

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Open Ally Invest Account



Open Ally Invest Account







Ally Invest Overview


Do you want to buy stocks on-line, but don't know where to start? Well, you have come to the right place, because this article is going to show you how. Without any obligation to deposit a minimum amount of money, you can start trading stocks in no time. Here's how to do it.

The first thing you need to do is to find an on-line broker. A broker is just a financial company where you buy and sell stocks and other investments. It's similar to a bank, but instead of just depositing money in a checking or savings account, a brokerage firm helps you to trade stocks, bonds, mutual funds, and other products. To trade simply means to buy and sell.

A good broker for new investors is Ally Invest. This firm charges just $4.95 to buy and sell stocks. The fee, called a commission, is very low compared to what other brokers charge. An account can be opened with no deposit.


Ally Dividend Reinvestment Plan


Ally Invest has an easy-to-use website with good educational tools. These are in article and video format. Reviewing these materials will help you understand the terminology of investing along with important issues, such as how to use the broker's trading technology. A customer service agent can be reached during the weekday by phone, e-mail, and on-line chat. If you don't feel comfortable placing a trade on your own, you can call up and have a live agent help you complete a trade. The broker lists this service as an extra $20 in its schedule of fees, although customer service may wave that fee for an occasional trade. Just verify what the charge will be before completing the trade.

A second broker that would be good for beginners is TD Ameritrade (learn more). TDA is little more expensive than Ally Invest, but it offers 24/7 customer service and more educational materials. Both brokers offer mobile apps, so you can trade and keep an eye on your account when you're away from home or work.

To open a brokerage account, click on Ally Invest's new account promotion link: Up to $3,500 cash bonus + commission free trades for new accounts. Than hit the "Open An Account Today" button and you will see Ally Invest's new account registration forms. You'll need to supply your name, address, and Social Security number. You're opening a financial account, so it's important to provide this data. You will be given the option of opening a margin or non-margin account. Margin simply means you can trade stocks with money borrowed from your broker. For now, just choose a non-margin account. You can always add margin later.

Now that your account is open, you need to find a stock. Buying stocks isn't that difficult. With Ally Invest's user-friendly website and research tools, you will catch on in no time.


Ally Invest Dividend Reinvestment Plan Disclaimer


For the most recent information on Ally Invest dividend reinvestment program (DRIP) visit their website.