FYI: Trusts At Ally Bank

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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FYI: Trusts At Ally Bank

Post by oldbykur » Sat Aug 26, 2017 5:53 pm

A few months ago I did an online change of address at Ally Bank where I have a Trust Checking Account and a Trust Savings Account. The changes were accepted and displayed correctly on my profile page. However, monthly statements continued to be delivered to the old address.

In response to my recent inquiry, an Ally Bank Customer Care representative informed me of the following: "Please be aware trusts have their own separate profile which have to be updated manually."

Please be aware of this if you require address changes on a trust account at Ally. I was not!

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Re: FYI: Trusts At Ally Bank

Post by sddiehard » Sat Aug 26, 2017 6:34 pm

Also note that for Trust accounts, Ally's policy is to send statements via snail mail, even when requested to use e-statements only.


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Re: FYI: Trusts At Ally Bank

Post by kaneohe » Sun Aug 27, 2017 12:04 am

Ally also does not allow trust access to automated phone system.

OP should raise issue w/ management so they are aware of problem and can't say they didn't know. You may have to tell them explicitly that they should either fix problem or post info on that page that changes will not be made for trust accounts.

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