Ally Bank & Ally Invest Bonus & Promotions – up to $3,000

I’ve been a fan of Ally Bank since the early days and it’s been my main bank for many years.

I’m a big fan of Ally Bank as a bank given all of its perks and it’s made even better when there is a bonus. If you want to learn more, our deeper review of Ally Bank will help you understand why I like them so much.

Ally typically offers two types of bonuses:

  • Ally Bank – for checking, savings, and other deposit products
  • Ally Invest – for self-directly and managed brokerage accounts
Table of Contents
  1. Ally Invest – $100 to $250 Targeted Bonus
  2. Ally Bank – New Year’s Eve $250 Baby Bonus [EXPIRED]
  3. Ally Bank – No Active Deposit Bonus
  4. Ally Invest – up to $3,000
  5. How Does This Bonus Compare?

Ally Invest – $100 to $250 Targeted Bonus

Ally has sent out emails to some folks with a targeted offer (meaning unless you get the email, you can’t get this bonus, sorry!) – look for an email with the subject line (or something similar):

SUBJECT: Limited Time: Get $250 for opening an Ally Invest account

The links work, you can see the offer if you click on them, but unless you’re selected you are unlikely to get the bonus.

The terms are fairly simple though:

  • Open a new Ally Invest account between 2/23/2022 – 3/24/2022
  • Deposit a minimum of $500 or more by 4/8/2022.
  • Keep your new Ally Invest account open and in good standing for us to add your bonus to your account. We’ll pay your bonus by 5/8/2022.

Link for $150 bonus

Link for $100 bonus

Ally Bank – New Year’s Eve $250 Baby Bonus [EXPIRED]

I’m listing this one first but it applies to be very small subset of potential depositors. 🙂

If you had a baby born on December 31st, 2020 then you can get $250 from Ally Bank into a custodial Online Savings Account. You just need to sign up for the promotion and upload a copy of your baby’s birth certificate before July 31st, 2021. You don’t even need to deposit money, they’ll stick in a dollar just to keep it active.

You can’t do this until you get a Social Security Number (which you probably have by now but just in case) because you’ll need it to open the account.

Ally Bank – No Active Deposit Bonus

Ally Bank will periodically offer a bank bonus based on deposits but as of right now, February 2022, the bonus is no longer available.

What did the bonus look like when it was available?

Ally Bank has run different types of bonuses in the past. The most recent one is your more typical “open an account, deposit funds, and get cash” and they ran this in the Spring of 2020. It was very appealing because it did not require a direct deposit.

They offered up to $250 if you opened up an Ally Bank savings account, money market account, or CD and fund your account with at least $1,000 in new-to-Ally Bank funds. Keep the funds in the account for three months and get the bonus for 1% of the amount you deposited up to $250. (you can still see the terms & conditions of this offer on their site)

What made this offer unique was that it was available to new and existing customers. They calculated the bonus based on the amount you transferred so existing customers were not left out.

Ally Invest – up to $3,000

Ally Invest is the brokerage arm of Ally and the bonus is based on the amount you deposit into your account. Once you get the bonus, you can’t withdraw the amounts for 300 days or you forfeit the bonus. If you’re in a pinch, you can withdraw it but you risk the bonus.

The bonus is based on this schedule:

Deposit or Transfer
Amount
Your Bonus
$10,000 – $24,999$100
$25,000 – $99,999$250
$100,000 – $249,999$300
$250,000 – $499,999$600
$500,000 – $999,999$1,200
$1,000,000 – $1,999,999$2,000
$2,000,000 or more$3,000

To qualify for this bonus, you can transfer your assets from another brokerage and Ally Invest will even credit your transfer fees. In an ACATS (Automated Customer Account Transfer Service) transfer, the other brokerage may charge you a fee to transfer your assets in-kind (meaning you don’t sell anything and incur a capital gain) but these are expensive. Ally Invest will pay this fee if you transfer at least $2,500 in assets once you show evidence of the charge. (this doesn’t apply to termination or maintenance fees, just the ACATS fee)

How Does This Bonus Compare?

Since Ally Bank doesn’t have an active bank promotion, it’s hard to compare but here are a few great live offers.

⭐Citi Priority Account – $300, $700, or $1,500

Citi Priority is offering $300, $700, or $1,500 bonus when you open an account by 7/17/2022. Then, within 20 days of opening your account, deposit at least $15,000 in New-to-Citi funds and keep it there for 60 days after the 21st day. The bonus amount is based on how much you can transfer but the lowest tier starts at $15,000.

Click here to learn more

Discover Online Savings Account – $150 or $200

Discover Bank is offering a $150 or $200 bonus when you open your first Discover Online Savings Account with the promotion code WH622 and deposit at least $15,000 into the account within 30 days. You get $150 if you deposit $15,000 or more and $200 if you deposit $25,000.

Click here to learn more

Chase Total Checking® – $200

Chase Bank will give you $200 when you open a Total Checking account and set up direct deposit within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!

Click here to learn more

SoFi Money – up to $300

SoFi Money will give you up to $300 if you open an account and make direct deposits of at least $1,000. The bonus will be based on the total amount of those direct deposits in a 30-day evaluation period.

Click here to learn more

HSBC Premier Checking – $450

HSBC has an offer where you can get $450 for eligible new customers who open an HSBC Premier checking account and make recurring monthly qualifying direct deposits of at least $5,000 for 3 consecutive months.

Click here to learn more

Huntington Bank – up to $300

If you are a resident of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, or Wisconsin then you could get up to $300 from Huntington Bank for opening a new checking account. There are several checking accounts that qualify but they’re great offers if you live in their geographic region.

Click here to learn more

TD Bank – $300 or $150

TD bank has two bank offers for checking accounts and both are fairly easy to attain. For example, get $300 when you open a TD Beyond Checking account and receive direct deposits of $2,500 or more within 60 days of opening your account.

Click here to learn more

If none of these catch your eye, we maintain a list of the best bank promotions here.

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About Jim Wang

Jim Wang is a forty-something father of four who is a frequent contributor to Forbes and Vanguard's Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology - Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here's my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free.

He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in a few commercial properties and farms in Illinois, Louisiana, and California through AcreTrader.

Recently, he's invested in a few pieces of art on Masterworks too.

>> Read more articles by Jim

Opinions expressed here are the author's alone, not those of any bank or financial institution. This content has not been reviewed, approved or otherwise endorsed by any of these entities.

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