With Alexa, banks are taking your wishes by voice command

Ryan Brinks 5 December 2017

Alexa now transferring money between bank accounts by voice command

Need to transfer money? Just say the word.

Beyond simply checking bank account balances, you can now move money between accounts using Amazon’s voice-activated assistant, Alexa.

While other voice banking pioneers like Capital One and US Bank were first to provide bank account information through an Alexa conversation, Ally Bank recently announced you can now use Alexa to transfer money between two Ally accounts or from your Ally account to a registered account at another bank.

The functionality is called Ally Skill for Alexa and can be used with your Ally deposit account and any Alexa-enabled device, like the Amazon Echo. All you need to do is enable Ally Skill in the Alexa app, link your Ally account and choose whether or not you want to protect the bank account access with a passcode – a good first step in line with outgoing CFPB boss Richard Cordray’s appeal to banks for greater customer control over secure payments.

At the same time as it unveiled Ally Skill, the online bank hinted at a possible future Alexa capability when it also added Send Money With Zelle transfers to other people’s bank accounts. Currently, Send Money With Zelle only works with Ally’s online banking and mobile app, but the company’s leaders aren’t holding back on jumping into the latest technological advances.

“Ally is committed to integrating new technologies into our offerings to improve the overall customer experience. We are excited to take this to the next level with the launch of Ally Skill, Face ID and Send Money with Zelle,” Ally president of consumer and commercial banking products Diane Morais said.

As banks continue to bring the future to your living room, the possibilities for transferring money around the world are growing. Just make sure the cost is worth the convenience. Bank accounts vary widely in the interest rates they pay and fees they charge, so compare your options before opening up a new account. And for transferring money overseas, banks may not be the most cost-effective method. Check out alternative options using our guide to comparing international money transfers.

You can also learn more about upcoming fintech innovations that could revolutionize cross-border payments.

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