Ally Bank: who holds your money

The disclosure for Ally Bank, read on September 5, 2026, describes a direct bank arrangement for FDIC coverage, federal insurance for bank deposits. This concerns deposits at the relevant bank. The exact disclosure follows.

Current commentary

Money deposited with Ally Bank sits directly at Ally Bank because the institution is itself a chartered bank. FDIC deposit insurance reaches customers directly through Ally Bank, not through another bank. The stated limit is $250,000 per depositor, per insured bank, for each account ownership category. This description reflects the institution’s disclosure as read on September 5, 2026.