In this section we will run through how to open an account, a process that is simple and takes less than 10 minutes to complete, thanks to the intuitive online optimisation of Ally Bank services. How to Open an Account and Transfer Money With Ally Bank Here’s what you’d have to pay for the transaction, assuming you send $100 to selected countries using a money transfer service like Paysend. It’s impossible to compare Ally bank's international money transfers to other money providers because the bank lacks an international remittance unit. How Do Ally Bank Transfer Fees Compare to Using a Money Transfer Provider? These fees largely depend on the structure of the transaction. Additional CostsĪlthough Ally Bank doesn’t charge any fees for receiving transactions, the bank warns of possible fees arising from intermediary banks. Transfer FeesĪlly Bank money transfer fees are non-existent because customers cannot send transactions internationally.Ĭustomers can, however, arrange domestic wire transfers and the flat-fee for this service is $20 per transfer unless the funds are being sent from an Ally Bank account to an Ally Invest account, in which case the fee will be reimbursed. These companies can send funds globally and have competitive exchange rates. Customers can utilize alternative money transfer services such as Worldremit and XE. Exchange RateĪlly bank doesn’t support sending money to other countries. We will use this section to evaluate how closely this bank matches the mid-market rate of foreign exchange for each currency, along with the fee structure applied to international transfers. However, some customers may still be able to receive incoming international wire transfers. It seems, as of 2013, Ally Bank customers are no longer able to request or send money abroad. Get rates Can I Use Ally Bank for International Bank Transfers? South Georgia and the South Sandwich Islands.How does the company fare, however, when it comes to international services? We will be looking closely at this area of banking in this review. Launched in the year 2000, Ally’s online marketplace, SmartAuction, is a popular host of auto auctions and through this venture, the company has reported more than 5 million vehicle sales.įrom starting out in auto finance back in 1919, to expanding to credit and lending and wealth management, and adapting to online financial services, Ally Bank has grown exponentially since its inception. However, over the course of its century-long operations, Ally has gradually become one of the biggest banks in the United States by total assets.Īccording to recent data, Ally has 9,500 employees and 6.5 million customers across the USA. Due to its genesis as the General Motors Acceptance Corporation, a company offering a range of loans to automotive customers, to this day Ally is best known for its car finance and leasing services. About Ally BankĪlly Bank, also known as Ally Financial, is a bank holding company headquartered in Detroit, Michigan. In a bid to provide a full rundown of Ally Bank's global money transfer options, we will be reviewing each aspect of their remittance services, in detail. Ally Bank, based in the United States, was formerly known as General Motors Acceptance Corporation (GMAC) until the bank rebranded in 2010.
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