Summary: The Ally Bank and Ally Invest platforms both do not support cryptocurrency investing. If you want to buy Crypto with an Ally Bank account, 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 to trade thousands of different assets.
- Trade 80+ Cryptos & 8,000+ Stocks, ETFs and more.
- Fast & Cheap USD deposits via Ally Bank transfer or Debit Card/Credit Card.
- 0% Fees and tight spreads on Digital Assets and Stocks.
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Can I buy Crypto with Ally Bank or Ally Invest?
Ally Bank does not currently offer any services for their customers to buy or sell Bitcoin and cryptocurrencies directly through their online banking app. The Ally Invest platform also doesn't support crypto investing, but you can buy and sell crypto-related stocks like Microstrategy or Coinbase on the app.
How to buy Crypto with Ally Bank
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 enables you to trade over 80 cryptocurrencies and over 8,000 different stocks, ETFs, commodities, mutual bonds and more.
To get started with Ally Bank account, follow our simple guide:
- Step 1: Visit the eToro US investing platform and sign up.
- Step 2: Deposit USD by selecting the 'Deposit Funds' button. You can transfer USD via Bank Transfer, Debit Card or Credit Card from Ally Bank.
- Step 3: Once the USD lands in your account, find the Crypto or other asset you want to buy on eToro.
- Step 4: Input the dollar amount you want to invest and execute your trade.
Ally Bank Cryptocurrency 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.
Ally Bank does state that digital currencies are not currently regulated by the US government, and as such, are considered high-risk investments. The bank does not provide any warranty or guarantee with respect to digital currency exchanges. Ally Bank also reserves the right to block or reverse any transactions made through a digital currency exchange.
About Ally Bank
Ally Bank is a direct bank in the United States that offers financial products for both consumers and businesses. The company was founded in 1919 as the Bank of Delaware and has been offering banking services for over 100 years. Ally offers a variety of deposit products, including checking, savings, money market, and certificates of deposit (CDs). The bank also offers a full suite of loan products, including mortgage, auto, personal, and home equity loans. Ally Bank is a member of the FDIC and is an Equal Housing Lender.
The bank has its headquarters in Charlotte, North Carolina. Ally also has offices in Alabama, Arizona, Colorado, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Nevada, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, and Texas.
Ally Bank is a subsidiary of Ally Financial Inc. (NYSE: ALLY), a leading digital financial services company with over $173 billion in assets as of September 30, 2020. Ally Bank is a Member FDIC and Equal Housing Lender , NMLS ID 181005. Mortgage credit and collateral are subject to approval and additional terms and conditions apply. Programs, rates and terms and conditions are subject to change at any time without notice.
About Ally Invest
Ally Invest is another subsidiary of Ally Financial Inc. (NYSE: ALLY) and is Ally Bank's official investment platform. Ally Invest offers an intuitive platform experience and low commissions and fees. Trade stocks, options, ETFs, mutual funds and fixed-income investments online or with a mobile device. Plus, get up to $600 when you open and fund an account.
Commissions for online equity trades are just $4.95 per trade with no minimums. And there are no hidden fees — the price you see is the price you pay. Ally Invest is a great choice for investors of all experience levels. Novice investors can get started with guidance and resources from Ally Invest's award-winning customer support team.
Experienced investors can take advantage of Ally Invest's advanced trading platform, which offers customizable layouts and robust analysis tools.