The Offer
No direct link, check for email <subject: Limited Time: Get $250 for opening an Ally Invest account>
Ally Bank is sending out a targeted offer:
- Get $250 when you open a new Ally Invest Self-Directed Account or Robo Portfolio account and deposit $500.
- Others got a bonus of $100 or $150 instead.
The Fine Print
- To participate in this cash bonus offer, click here to access the Ally Invest online application. You must open your eligible account between 2/23/2022 and 3/24/2022 AND deposit a minimum of $500 or more by 4/8/2022.
- Keep your new Ally Invest account open and in good standing for us to add your bonus to your account. We’ll pay your bonus by 5/8/2022.
- This unique offer is only available to select Ally Bank and Auto customers. You are only eligible for this bonus if you received the email offer. We’re all about playing fair, so if we believe you’re trying to game or abuse this offer, you won’t be allowed to participate in this offer or any future offers.
Our Verdict
This targeted email offer is being sent out via email to some/all Ally Bank customers encouraging them to open an investment account as well. You don’t have to actually invest the money as you can simply deposit the funds to your main brokerage cash account and leave it there. I don’t see any minimum timeframe of investment, and you should be able to deposit $500, pull it out immediately, and still be eligible. You do need to keep the Ally Invest account open until the bonus posts, by 5/8/22.
I’m not sure if this can stack together with the more standard bonus of up to $3,000 when opening an Ally Invest account and depositing funds as you might have to use a separate link when opening the account to get that deal. The new offer is much simpler without tying up much money to get the bonus and without any holding periods. A $500 transfer to the new investment account should work whether it’s being transferred from your Ally savings account or from an external account.
No mention of whether they’ll be sending out a 1099 form for this bonus (some brokerage bonuses considered MISC income and not 1099ed when they are less than $600), though legally you’d be required to report the income regardless.
