Summary: Ally Bank and Ally Invest not natively support cryptocurrency investing. If you want to buy Crypto, you will need to use a regulated crypto exchange is the US.
We recommend eToro because they offer fast USD bank transfers for Ally Bank account holders.
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Can I buy Crypto with Ally Bank?
Ally Bank does not currently offer any services for their customers to buy or sell Bitcoin and cryptocurrencies directly through their Banking App.
Ally Bank account holders must find a licensed cryptocurrency exchange and deposit funds from their Ally Bank account to buy or sell digital assets.
How to buy Crypto or Bitcoin with an Ally Bank account
If you're looking to buy Bitcoin with an Ally Bank account, eToro is a great option. eToro is a regulated broker that offers fast USD deposits via bank transfer from Ally Bank accounts. Their platform also lets you trade cryptocurrencies, stocks, ETFs, bonds and more.
To get started with Ally Bank account, follow our simple guide:
- Sign up to the eToro platform
- Verify your personal or company identity details
- Select 'Deposit Funds' and send USD to the details from your Ally Bank account
- Once the USD is funded, find 'Bitcoin' in the discover tab
- Input the USD you want to buy, and execute your trade.
Can I buy Crypto with Ally Invest?
Ally Bank also offers a self-directed trading paltform called Ally Invest that allows you to dollar cost average a wide range of stocks, ETFs and commodities. As at time of writing, Ally Invest also does not offer any cryptocurrency products to invest in.
This means you cannot buy Bitcoin or Ethereum through Ally Bank, or Ally Invest.
Ally Bank Crypto Policy
Ally Bank does not have any banking policies that prohibits their account holders from buying or selling cryptocurrency. This means you are safe to sign up to a regulated broker and deposit funds from your Ally Bank online account.