Ally Mobile Banking App Adds Popmoney® and Recurring Transfer Features

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Nov 25, 2013, 10:00 ET

MIDVALE, Utah, Nov. 25, 2013 /PRNewswire/ -- Ally Bank, the direct banking subsidiary of Ally Financial Inc., has expanded its Ally Mobile Banking app to include two new offerings designed to help customers conveniently access and manage their money on the go. Specifically, customers can now use their smartphones to send and receive Popmoney® payments as well as make recurring electronic fund transfers between Ally and non-Ally bank accounts.

"One of the recurring themes in the feedback we receive from consumers is how much they like the convenience of a direct bank, and these latest offerings are the result of our commitment to deliver customer-friendly products and features," said Diane Morais, Ally Bank deposits and line of business integration executive. "We have seen phenomenal growth in customers using our award-winning Ally Mobile Banking app, and we're taking our cue to continue to build the functionality of mobile banking to respond to that demand."

Popmoney
Popmoney, a payment service that allows customers to electronically send money to other people, offers a convenient alternative to sending cash or checks to friends and family or to pay service providers. The service allows Ally Bank customers to send money to anyone in the U.S. who has a U.S. bank account – the recipient does not need to have an Ally Bank account.

Popmoney has been available to Ally customers since 2011. In addition to using their smartphones for regular Popmoney transactions, users will now be able to view scheduled payments and payment history as well as set up and manage Popmoney contacts in Ally Mobile Banking.

Users can send funds by providing the recipient's e-mail address, mobile number or bank account information. The recipient will get a text or e-mail directing them to go to popmoney.com/ally and follow the steps to deposit the money online. If a bank account is provided by the sender, the money is sent directly to the recipient's account.

Popmoney can be used for one-time payments and gifts, or can be scheduled for recurring payments. Unlike many other banks, Ally Bank does not charge a fee for Popmoney transactions.

Recurring and Edit Transfers
The recurring and edit transfers feature allows customers to set up and manage one-time and recurring transfers between both Ally and non-Ally bank accounts using the Ally Mobile Banking app. Previously, customers were able to set up a one-time transfer between Ally Bank accounts only. In addition to the expanded capability, customers can now see their Ally-to-Ally transfer history in Ally Mobile Banking, providing yet another convenient option to review account history while "on the go."

In addition to these latest enhancements, Ally Mobile Banking offers easy-to-use features, including Ally eCheck Deposit(SM), which allows customers to scan and electronically deposit checks, as well as bill pay, a call wait time feature and an ATM and cash back locator.

In June, Ally Mobile Banking was awarded Forrester's 2013 "Outside In" Award in the Customer Experience Design category for its innovative and customer-friendly design that allows customers to conduct a wide range of banking tasks via their Android™ or iPhone^® smartphones.

About Ally Bank
Ally Bank is a direct bank in the U.S. that offers a straightforward approach to banking with no minimum deposit required to open an account, no monthly maintenance fees and 24/7 live customer service. A subsidiary of Ally Financial Inc., the Bank offers online savings, interest checking, money market accounts, certificates of deposit with terms ranging from three months to five years, and IRA Plans and products. Member FDIC. For more information, visit the Ally media site at http://media.ally.com or follow us on Twitter @ally.

Contact:

Andrea Puchalsky
313-656-3798
[email protected]

SOURCE Ally Financial