I have been using Ally bank for many years. They say that they have 3 day ACH transfers as well as next day transfer. Every time I do transfer it says it is a 3 day transfer. How does one get the next day transfer?
Answers
Next-day Transfers
Transfers eligible for next-day delivery between Ally Bank and non-Ally Bank accounts, requested before 7:30pm ET Monday – Friday, will take 1 business day.
We determine eligibility for next-day transfers based on account tenure (so new accounts aren't eligible), account activity, and transfer activity such as overdrafts and returns. To combat fraud, we are selective about when we offer next-day transfers.
You will not be charged a fee for standard or next-day transfers.
Learn more about transfers in our Transfers Tutorial.
I had a great history of experiences with Ally, but had one new FI that had set up a negative available balance on an account while deposits were clearing that I did not notice. I tried to set up a link from Ally to that account (without having seen the negative available balance at the new FI). Ally sent trial deposits, the new FI accepted the deposits, rejected the withdrawal of the same, and then imposed an overdraft fee. Before I knew any of the above, the new FI reversed the overdraft fee. Ally rejected the link. I tried again a few days later, all seemed good.
Yet, in the meantime, Ally cancelled a previously scheduled transaction from a third FI that had been scheduled as a 1-day transfer. (I had scheduled it a week or two in advance.) It was only after I received a message that the scheduled transfer did not happen (on the day that it was scheduled) that I learned that Ally had removed all 1-day transfer status from my accounts (to multiple institutions).
Through repeated customer service contacts (and attempts at escalation), I received inconsistent answers. Over two months later--after having noted my years of history with Ally and that I had never had any problems with transfers or available funds--I received definitive notification: My accounts were not eligible for 1-day transfers for 1 year (no matter the history) all due to one failed attempt from Ally to withdraw less than $1.00 in funds that it had deposited to an external account.
Despite providing detailed information to Ally about the situation and my history, responses tended to be cookie-cutter and not directed to my particular situation. The message that I took from Ally: We don't care about you.
Whether that was because Ally sees me as somebody who takes advantage of good interest rate offers and does not generate fee income or Ally just simply has no ability to see how certain rules that it has programmed into its system generate unintended consequences, I'm uncertain. But, I have taken the message to heart. If Ally's rates are not competitive (as they are currently), I'm keeping a minimal balance and making maximal transactions--bear the cost of having me as customer, but minimize the reward you get from my status as a customer. If Ally's rates are competitive, I'm going to make the bank pay me--those No Penalty CDs at higher rates are going to the end of the term.
My guess as to what is happening?: You cannot fix stupid.
Oh, and for anyone who has a problem with Alliant, there is PurePoint. PurePoint also does ACH 1000 times better than Ally . . . better even than Alliant some would say.
You might possibly get your accounts Permanently Closed for abuse of service.
You skrude yourself because of inattention.
It makes about as much sense as getting POed for getting a ticket for drunk driving when your car wasn't actually moving.
Once bitten, Twice shy.
And I might agree with you about inattention if the circumstances were different--no other FI with which I have opened an account has put a negative balance on a new account. (The fact that the FI reversed the overdraft fee without any intervention on my part suggests that the FI realized that their system caused a problem that it should not have.)
There are others who have shared similar experiences here who had much shorter periods of removal of 1-day transfer for what seems to be more telling problems (such as actually having a transfer that they scheduled rejected). The rejection here was of the withdrawal of TRIAL deposits. Rather than simply saying "you can't link this account," Ally's response is "because we could not withdraw these trial deposits, we're going to hold your money on all your transfers two additional days for a year." Nothing like your DUI analogy.
Suspension of DL and DUI School
Sorry for your problem though.
Ally does have one of the best sites for nearly complete control of your accounts
and I cannot imagine not having access to a dozen and a half of
linked accounts as I at one FI.
FYI - some people report negative experiences with customer service at ALLY. So far, knock on wood, mine has been good to great experience.
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