What to do when an Ally Bank account holder dies

Completed by the executor. Available to download.¹

Available to download.²

Available to download.³

Available to download.⁴

Available to download.⁵

Available to download.⁵

Completed online.⁵

Available to download.⁵

Completed by a beneficiary who does not want the money. Sent by the institution on request.⁶

The beneficiary sends a copy of the death certificate and their ID, and can open an Ally account or transfer the money to an existing Ally account, or request a check.⁷

Where the payable-on-death beneficiary is a minor, charity or trust, Ally's customer care team gives instructions for the situation by phone.⁶

On a joint POD account Ally pays the beneficiaries when the last surviving owner dies. Only beneficiaries living when all owners have died take, a predeceased beneficiary's share is split among the others, and there are no contingent beneficiaries.⁸

With no beneficiary, the affiant or executor sends a copy of the death certificate, probate documents or a small estate affidavit, and their ID. They can open an Ally account, with the Estate Account Application for an estate account, or request a check.⁹

All joint owners are joint tenants with right of survivorship: when one owner dies, the account belongs to the remaining joint owners.⁸

The surviving owner sends a copy of the death certificate and can remove the deceased owner's name, open a new Ally account or transfer the money to an existing one, or request a check.¹⁰

The successor trustee can open a new Ally Trust account, ask to be added to the existing trust accounts with the deceased trustee's name removed, or request a check made payable to the trust.¹¹

Accounts for executors, guardians, conservators and other fiduciaries cannot be opened online; the agreement says to start by calling Ally. Documents showing the fiduciary relationship are required.⁸

Ally offers accounts only to fiduciaries and to consumers for personal, family and household purposes, and does not offer business accounts.⁸

On the Estate Account Application the executor authorizes full liquidation of the deceased person's Ally Bank deposits to fund the estate account, unless an account names a beneficiary.¹

The early withdrawal penalty does not apply on the death or legal incapacity of any owner. Ally generally does not allow partial withdrawals of principal from a CD before maturity.⁸

If a Traditional or SEP IRA owner's required minimum distribution for the year of death has not been met, the beneficiary may have to take their portion, and it must be satisfied at the same time as the requested disbursement.¹²

After an Ally Auto payoff, the title or lien release is mailed within four business days for certified funds, or within 10 business days for an online or personal-check payment, and can be tracked in the vehicle account.¹³

On a buyout of an Ally Auto lease, one of Ally's agents contacts you about the title release.¹³

Ally Invest accounts⁵

A deceased party on an Ally Auto vehicle contract¹⁴

General Ally Auto questions, payment disputes and customer service correspondence¹⁵

Ally Bank IRA distribution, inherited IRA and transfer forms; a fax carries the subject line "Retirement Services"³

When an account owner dies, Ally may require documentation proving the death, and in some cases documentation proving a fiduciary relationship.⁸

Ally may let an attorney-in-fact keep acting on an account until it receives actual notice of the owner's death. It does not accept a power of attorney on fiduciary accounts, including formal trust accounts.⁸

Ally may set off money in any of the owner's accounts, without prior notice, to repay a debt owed to Ally or its parent, affiliates or subsidiaries. This does not apply where it would invalidate an IRA's tax-advantaged status.⁸