If you have your child on 12/31 by 11:59pm local time you will not only get $500 from the 1st COVID stimulus and $600 from the 2nd COVID stimulus, but you’ll also get $250 from Ally Bank!
Child must be a U.S. citizen or legal permanent resident and have a Social Security number, a certified birth certificate showing birth between 12:01 am and 11:59 p.m. local time on December 31, 2020, and a residential street address in one of the 50 U.S. states, Guam, or the U.S. Virgin Islands.
After enrolling, you’ll be prompted to open an Ally Bank custodial Online Savings Account (that’s where we’ll deposit your baby’s money).
You’ll need your baby’s social security number to apply and must upload a copy of your child’s birth certificate by 7/31/2021.
Any adult who meets our qualifications can apply to open an Ally Bank custodial Online Savings Account for a child. In other words, you don’t have to be the child’s parent, legal guardian, or even a family member. To apply to open a custodial account at Ally Bank, you must be 18 years or older and a U.S. citizen or legal permanent resident with an SSN or Taxpayer Identification number (TIN) and a residential street address in one of the 50 U.S. states, Guam, or the U.S. Virgin Islands.
We’ll treat the cash bonus as interest for tax reporting purposes. You should talk to your tax advisor about potential impacts to your child’s 2021 tax liability.
The maximum cash bonus any child can receive is $250 — opening additional custodial accounts in the child’s name (even if the accounts have different custodians) won’t increase the child’s total cash bonus.
We’ll pay the Ally Bank 12/31/20 cash bonus within 30 calendar days after you’ve met the enrollment and promotion eligibility requirements and we’ve verified the child’s birth certificate.
To qualify for the Ally Bank 12/31/20 cash bonus on behalf of multiples (twins, triplets, or beyond!), you’ll need to go through the enrollment and eligibility steps once for each child. This means that for each child, you’ll need to enroll through the landing page, open a new Ally Bank custodial Online Savings Account, upload a birth certificate, and follow any other instructions you receive from us.
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32 Comments On "Ally Bank Will Fund A Savings Account With $250 For All Babies Born In The US Today!"
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2nd stimulus is $600? Wasn’t it approved for $2k pp?
That did not pass the senate, at least as of yet.
Thanks to Mitch McConnell
Are you happy with him or upset at him?
I already got 600/person
Shucks. I was born yesterday 🙁
Haha
I remember the good old days when your bank would give you $20 for your teller saying hey instead of hello
https://youtu.be/IN6cJ_wGmsk
I wasn’t born yesterday
Boy am I thankful I’m not at a maternity ward in Lakewood. Probably a line out the door of people asking to be induced.
LOL
Hahaha! Gold!!
Not quite fare. I was born today, but 66 yrs ago.
Happy Birthday!
You are still eligible for both stimulus checks
As if on cue, “Planned parenthood” pops up now as a google ad on the top right corner. 🙁
Just had a baby an hour ago 🙂
Mazal tov!
Mazal Tov!!!
Awesome, Mazel tov!
How bashert that my granddaughter was born today, 2 weeks early!
Amazing! Mazel tov!
We had a baby a few months ago, how do we take advantage of the first round ? Thank you !
On your 2020 tax return
I had a baby in 2020. If I only get a ss# for my baby in 2021, would I get both stimulus for her when I file my 2021 taxes?
Stimulis must be added to your 2020 return, so add the new baby to the 2020 tax return, and add stimulis paper to it.
Ok thanks!
Thank you Dan! Happy new year.
Will this be alive again in 2021?
Lol!
Dan you forgot to mention that they’d also get a child credit for 2020 as well