Time Your Child’s Impending Birth to NYE, and Ally Bank Will Give You $250

nye baby

If you’re due on December 29 but think you can hold out for just a few more days then here’s a powerful incentive: Ally Bank wants to give you $250! That’s right, the online bank is offering $250 in a custodial Online Savings Account to all babies born on December 31, 2020 as a way of giving each NYE tot a financial head start.

In a ridiculously sweet statement from the bank (there’s a sentence we never thought we’d write), they pen a letter to these future newborns: “You should know that a lot will be said about your birth year, and much of it will be pretty tough to hear. There have been extraordinary challenges, tragedies and troubling events—that is true. But through it all, there also have been unprecedented awakenings, acknowledgements and opportunities for our human family to come together with a purpose to be better. Best of all, it’s you—and everyone born each day—who provide us with a reason to be hopeful.”

Babies born between 12:01 a.m. and 11:59 p.m. local time in the United States on December 31, 2020 will be eligible for Ally Bank’s $250 gift. Not sure that you’ll be feeling ready to sign paperwork after your babe’s arrival? No worries—the bank gets that parents have a lot on their minds after welcoming a new addition to the family. As such, they are giving parents plenty of time (more than six months, in fact) to get their New Year’s Eve baby set up. Online enrollment for Ally Bank's special welcome gift will begin January 15, 2021, and run until July 31, 2021.

In order to enroll, parents or legal guardians will need their child’s birth certificate, Social Security Number, and a residential street address in one of the United States’ 50 states, Guam, or the U.S. Virgin Islands. And here’s more good news: There’s no need to make a deposit into the custodial Online Savings Account once it has been opened in order to keep it open and receive your child’s $250 payout. You can review all eligibility requirements for enrollment here. Happy New Year, baby. 

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Executive Editor

Alexia Dellner is an executive editor at PureWow who has over ten years of experience covering a broad range of topics including health, wellness, travel, family, culture and...