How to Buy Crypto/Bitcoin with Ally Bank | Ally Invest Crypto

Introduction to Ally Invest Crypto

Ally Bank is a USA-based online-only bank offering a wide range of financial services. It was established in 1919 by General Motors and also it boasts a century-long history in banking. The bank provides services like checking and savings accounts, certificates of deposit (CDs), money market accounts, and credit cards.

What sets Ally Bank apart is its online-only approach; it doesn’t have physical branches. This means all your banking transactions happen through their website or mobile app. You can manage accounts, open new ones, transfer money, and even deposit checks using the app or website. Ally Invest Crypto Bank is also known for its commitment to customer service, with 24/7 support available via phone, email, or chat. In this article we will discover how to buy crypto with ally banks and many more details.

Why won’t Ally Bank let you buy CryptoCurrency Directly?

Ally Bank doesn’t let you buy cryptocurrencies like Bitcoin or Ethereum using their online banking app. To invest in digital assets, Ally Invest Crypto Bank customers must sign up with a FinCEN-approved exchange.

In the United States, we recommend eToro. It’s a platform that makes it easy to transfer money from your Ally Bank account with low fees. They offer a wide variety of cryptocurrencies with competitive trading fees and good prices. eToro is licensed by FinCEN, and it’s trusted by people, both regular folks and big institutions, in more than 100 countries.

Services Offered by Ally Bank

Ally Bank provides a range of services, including:

  • Retirement Accounts:

They offer both Traditional and Roth Individual Retirement Accounts (IRAs).

  • Investment Products:

You can invest in various options like stocks, bonds, mutual funds, ETFs (Exchange-Traded Funds), Bitcoin futures, crypto ETFs, options, and margin accounts.

  • Banking Services:

Ally Bank offers checking accounts, savings accounts, small business accounts, credit cards, loans, and mortgages.

  • Insurance Products:

They provide insurance coverage for your home, auto, business, and life.

  • Wealth Management:

Ally Bank offers services like financial planning, portfolio management, and access to Robo-advisors for automated investing.

Fees for Buying Crypto with Ally Bank

The costs associated with buying Bitcoin or other digital currencies through Ally Bank bitcoin can vary depending on the exchange you choose. These fees may include charges for deposits, withdrawals, spreads, and transactions. Many Ally Invest Crypto Bank customers find Kraken to be a cost-effective choice.

eToro stands out by offering free and instant USD deposits from Ally Bank. They also provide access to a wide range of over 200 cryptocurrencies and offer strong staking options. Unlike some exchanges like Coinbase, which may charge a spread fee of 2% or more, eToro keeps its rates competitive. This makes it a preferred option for investors who are mindful of their costs.

Steps to Buy Bitcoin and Crypto with Ally Bank Using eToro

The easiest and safest way to invest in digital assets using an Ally Bank account is by using a FinCEN-approved cryptocurrency exchange. This allows Ally Bank customers to transfer their US Dollars from their account to a licensed broker using methods like ACH Transfer, debit cards, or credit cards to buy and sell cryptocurrencies such as Bitcoin, Ethereum, and Uniswap.

Here’s a simple guide to getting started with your Ally account in just a few minutes:

1. Sign up for a free account on eToro and complete the registration process.

2. Go to ‘Deposit Funds’ and choose your preferred method to transfer money from your Ally Bank account.

3. Use the search bar to find the cryptocurrency you want to buy, then click on ‘Trade.’

4. Enter the amount of USD you want to invest and click ‘Open Trade.’

This way, you can easily begin investing in digital assets with your Ally Bank account.

Ally Bank Cryptocurrency Policy

Ally Bank, a well-known online bank in the United States, offers flexibility when it comes to digital assets. They allow their customers to invest in cryptocurrencies through brokers approved by the Financial Crimes Enforcement Network (FinCEN). This provides a secure way to explore opportunities beyond traditional banking and diversify investment portfolios with assets like Bitcoin and other cryptocurrencies.

Account holders can easily put their money into digital currencies using regulated platforms like eToro. This ensures quick and secure USD deposits through methods like ACH transfers, debit cards, or credit cards.


Although Ally Bank doesn’t directly support cryptocurrency transactions, it has an adaptable approach to digital assets. Ally Bank account holders can use their US dollars to buy cryptocurrencies like Bitcoin, Ethereum, and Uniswap through FinCEN-approved platforms like eToro.

This not only helps protect against ups and downs in traditional banking but also provides a chance to diversify investments with cryptocurrencies. The smooth connection between regulated cryptocurrency exchanges and Ally Bank crypto serves as a reliable way for safe and convenient investments in the digital currency world.


How to buy crypto with Ally Bank?

To buy crypto with Ally Bank, connect your bank account to a third-party cryptocurrency exchange.

Does Ally Bank allow crypto?

Ally Bank doesn’t offer direct crypto trading, but you can link your bank account to a FINRA-regulated digital asset broker for crypto investments.

Is Ally Bank crypto-friendly?

Yes, Ally Bank supports crypto indirectly through crypto funds and stocks of crypto-involved companies. 

What is Ally Bank’s crypto policy?

Ally Bank allows customers to use their online banking accounts to buy, sell, and trade digital assets through regulated exchanges.

What crypto exchanges does Ally Bank allow?

Customers can link their Ally Bank account to a FINRA-licensed cryptocurrency broker to purchase crypto.

Andre Outberg

Nathan has a passion for trading crypto and finding opportunities in the market. With experience running an NFT project and trading for a large company, he uses his experience to help new traders gain invaluable knowledge and help them on the journey of profitability.

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