What Ally payment options are available to you
Ally Bank offers several ways to pay your loan or credit card balance. You can pay online through your Ally account, by phone, by mail, or through automatic transfers from another bank account. The method you choose depends on how quickly you need the payment to post and whether you want to set it and forget it.
Online payments through your Ally account are the fastest and most common route. Phone payments work the same day but require speaking to a representative. Automatic transfers let you schedule recurring payments so you never miss a due date. Mail payments take longer — typically five to seven business days — and should only be used if you have time before your due date.
Key Takeaways
- Online payments through your Ally account post within one business day and cost nothing.
- Automatic transfers from another bank account let you schedule payments weekly, bi-weekly, or monthly without logging in each time.
- Phone payments process the same day you call but require speaking to a customer service representative.
- Mail payments take five to seven business days and should only be used if your due date is far enough away.
- Payments made after 8 p.m. Eastern Time typically post the next business day rather than the same day.
Paying online through your Ally account
Log into your Ally account on the website or mobile app and navigate to the payment section. You will see your current balance, minimum payment due, and due date. Enter the amount you want to pay and confirm the payment method — this can be a bank account you have already linked or a new one you add during the transaction.
Online payments post within one business day and are free. If you pay before 8 p.m. Eastern Time on a business day, the payment typically posts the next day. Payments made after 8 p.m. or on weekends post the following business day. There is no fee for paying online, and you can pay as many times as you want in a month.
Setting up automatic payments
Automatic payments remove the need to remember your due date. In your Ally account, go to the autopay or automatic payment section and link a bank account. You can choose to pay a fixed amount (like your minimum payment or a set dollar amount) or your full statement balance each month.
Select how often you want to pay — weekly, bi-weekly, or monthly — and which day of the month or week. Ally will pull the payment automatically on that schedule. If you set autopay for your full statement balance, your balance will be zero after each payment posts. You can change or cancel automatic payments anytime through your account settings, and there is no fee for using this service.
Paying by phone
Call Ally's customer service number, which you can find on your statement or in your account. A representative will verify your identity and ask how much you want to pay. They will confirm the bank account the payment will come from and when it will post.
Phone payments process the same day you call and post within one business day. Like online payments, there is no fee. This method is useful if you prefer speaking to someone or if you have questions about your account while making the payment. Wait times vary depending on call volume.
Paying by mail
Write a check or money order payable to Ally Bank and include your account number on the check. Mail it to the address listed on your statement — do not send it to Ally's main office, as payments sent to the wrong address take longer to process.
Mail payments typically take five to seven business days to post after Ally receives them. The postal service adds another two to three days, so plan accordingly. Only use this method if your due date is at least ten days away. Include your account number and the payment amount in the memo line so Ally can match the payment to your account quickly.
What to do if your payment is late
If your payment does not arrive by the due date, contact Ally immediately. Explain when you sent the payment and how. Ally can sometimes waive a late fee if you have a good payment history and can show proof that you sent the payment on time — for mail payments, this means the postmark date.
For online and phone payments, there is almost no reason for a payment to be late if you initiate it before the due date, since both post within one business day. If you are cutting it close, use online or phone payment rather than mail. Setting up automatic payments eliminates this problem entirely.
Frequently Asked Questions
Can I pay my Ally loan or credit card with a credit card?
No. Ally does not accept credit card payments for loans or credit cards. You must pay from a bank account, by check, or by phone. Paying with a credit card would create a cash advance, which carries higher interest rates and fees.
What happens if I pay more than my minimum payment?
The extra amount goes toward your principal balance, reducing the total interest you pay over time. There is no penalty for overpaying, and you can pay as much as you want whenever you want. This is especially useful for credit cards, where extra payments reduce your balance faster.
Is there a fee for paying early or paying off my loan in full?
Ally does not charge prepayment penalties or early payoff fees on most loans. You can pay off your balance early without extra cost. Check your loan agreement or contact Ally to confirm, as some specialized loan products may have different terms.
How do I know if my payment went through?
After you submit an online or phone payment, you will receive a confirmation number. Check your account within one business day to see the payment post. You can also set up account alerts to notify you when a payment is received or when your balance changes.
Can I schedule a payment for a future date?
Yes, through online banking. When you make a payment, you can select a future date for it to process, as long as that date is before your due date. This is useful if you want to pay on payday but your due date comes first. Automatic payments also let you schedule recurring payments in advance.