Some people are hesitant to use Ally Bank* (*referral link) because there is no way to deposit cash. This always surprises me because using cash is something we very rarely do and is generally not recommended anyway (not as secure, loses money to inflation, no rewards on spending, etc.). Well, for the first time ever, you can now deposit cash to your Ally account as long as you have a Walmart near you.
You can add cash to a Spending Account for free using our app. Here’s how it works:
- Head over to a Walmart Money Center or customer service desk with your ID. Make sure to check the department hours at your local Walmart.
- Log in to our app, go to Menu and select Add Cash to generate your unique barcode.
- Show your barcode to the associate and hand over your cash. It should be in your account in minutes. If you add it after 9 pm ET, it should post by 2 am ET.
For folks who live in cities/suburbs, I would think this would solve the “problem” for them as they likely have a Walmart reasonably close. If someone lives in a more rural area and doesn’t have a Walmart near them, this doesn’t solve the problem. But my previous suggestion that you keep a local account open just to deposit cash (and then electronically transfer it to your main account) would still work for those folks.
Fisch Financial 