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Ally Bank's eCheck Deposit is Now Available to All Customers

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Ally Bank

Ally Bank has made its remote deposit service called eCheck Deposit available to all customers. This allows customers to deposit checks at home using a PC and scanner. Earlier this year, Ally gave select customers access to this service.

Yesterday I gave Ally's eCheck Deposit a try, and it worked well. When you log in, select the "make a deposit" link in the left menu. The first option is the eCheck Deposit.

The scan process was the same as a reader's review that I posted in June. I have a Dell PC with a a HP printer/scanner, and the eCheck Deposit software worked without any major issues. The only minor issue was that it couldn't read the account number on the check in the first scan. I received the message:

We are having trouble identifying the account and/or routing numbers at the bottom of your check. Please make sure the entire check is visible – if not, you can revert to the original image using Undo and try cropping again. If you need to rescan your check, choose Back and rescan the check using 200 DPI or greater on your scanner setting.

I followed its instructions and rescanned the front of the check with an increased DPI on the scanner setting. That fixed the problem.

At the end of the process, Ally displays a receipt showing a copy of the original check. You are instructed to keep the check for 60 days before destroying it. According to the confirmation message, checks submitted online before 4 pm ET will post the next business day. It'll take another business day if it's done after 4 pm. Once the deposit is posted to your account, it will begin to earn interest. Ally will send you an email to let you know your deposit was successful and give you details on when your funds will be available for withdrawal.

The eCheck Deposits can be made into your Ally savings, money market and checking accounts. It can also be used to fund a CD.

Ally eCheck Deposit Maximum Deposits

An important limitation eCheck Deposit service is the maximum deposit limits. I was told by an Ally CSR today that the daily limit is $5,000, and the monthly limit is $10,000. If you have checks larger than these limits, you can always mail in the deposits using Ally's free postage-paid envelopes.

Depositing Cash

For those looking to replace their brick-and-mortar bank, this gives them fewer reasons to keep a local bank account. The only complication is if you need to deposit cash. When I asked an Ally Bank CSR about how to deposit cash, I was told that I would need to purchase a money order, and then mail that in for deposit the same way I would for a check. The downside of this is that there is usually a fee for the money order. The only online bank that I know of with a free way to deposit cash is PerkSreet Financial. PerkStreet customers can make cash deposits at MoneyGram ExpressPayment centers for free.

Mobile Banking

The next thing that Ally is working on is mobile banking. According to Ally's blog, they plan to rollout mobile banking in 2012. The first phases will just include the basics of mobile banking like being able to check your balances and transfer money between your Ally accounts. More advance mobile banking features will come out later in 2012. One is the ability to use your smart phone to deposit checks.


  Tags: Ally Bank, checking account, savings account, money market accounts

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Comments
8 Comments.
Comment #1 by Anonymous posted on
Anonymous
I'm still waiting for a bank to offer remote deposit by scanning cash :)

6
Comment #3 by CCraig (anonymous) posted on
CCraig
There's another way to deposit cash.  You could keep another account open (credit union or other)--one that has no minimum balance fee.  Then, deposit cash to this other account and write yourself a check, which you can then scan in to send to Ally.  It sounds complicated, but it's not, really.  I don't bank with Ally (yet), but I have done this round-about way with other banks...  deposit the cash, write myself a check, deposit the check in the intended destination account.  I know it sounds like a lot of steps, but internet banks offer rates that are so much better than any other options, so I think it's worth the effort...  especially if you have a lot of cash to deposit or need to deposit it frequently.

 

4
Comment #4 by Anonymous posted on
Anonymous
I tried to use this service.  It is garbage.  The Ally website is one of the best in the business for user friendlyness, but this process is simply terrible.  I had to eventually abort and just send the check in.  I wasted about an hour messing with this.  I am an IT professional with an up to date Windows 7 OS and a somewhat recent HP all in one scanner.  Just let me scan it myself, take a picture of it, and upload a jpeg.  Jacking with scanner drivers is a recipe for failure and massive frustration.  And, if you can't read it electronically, let a person read it.  This should not be that hard.  Whomever designed this feature most certainly didn't work on the rest of their site.  Stay away and avoid the frustration.  

8
Comment #6 by Anonymous posted on
Anonymous
I agree that the online check deposit system is complete garbage. Online deposits was the deciding factor in my opening an account with Ally Bank, however I have wasted far too much of my time trying to get it to work and have pretty much given up. I have scanned the check both through the wizard and manually only to receieve an error message stating that the check image is the wrong size or that the account and routing number cannot be identified. Even scanning at 600dpi has not helped. I am tempted to close the account before I even use it. Without the online deposit, I may as well bank at a local establishment.

3
Comment #7 by Dave Larson (anonymous) posted on
Dave Larson
The eDeposit is absolutely horrible, i cannot get a deposit problem resolved because no one from ALLY will call me back or email me and customer service says they can’t help, its been over a week I have called every day

2
Comment #8 by Amiante (anonymous) posted on
Amiante
Same for me; I tried many times with various resolution settings.  The check images are very clear but the site keeps complaining that "We are having trouble identifying the account and/or routing numbers at the bottom of your check."  This is for two checks that are in excellent condition.  Ally's system lacks any robustness.  It's not ready for prime time.  I complained to Ally but got no response.  Disappointing.

3
Comment #9 by Mark (anonymous) posted on
Mark
I had great experience with the eDeposit.  I have so far deposited two checks and both times no problems what so ever.  I love this feature.  Saves me time to drive to the ATM.

1
Comment #10 by Anonymous posted on
Anonymous
Its not open to everyone.  I signed on with them over a year ago because of the remote deposit capabilities they said were on the horizon.  I called them every few months asking if "I could be picked now."  Finally I started reading articles like this and called them and asked "why everyone but me?"  I got a bunch of double talk with customer service reps telling me they didnt know why they had to keep turning me down for the service, all the while verifying that the service was now "open to everyone".  I finally closed my account.

1