Which bank should you choose?
Insider’s experts pick the best products to help you make smart money decisions.here’s how). In some cases we receive a commission. our partnersHowever, our opinions are not influenced by these offers. These offers are subject to terms.
Popular banks include Ally and Discover Bank online banksIf you don’t want the common bank fees, these are great options.
To help you compare the differences between banks, we are comparing savings, checking and CD accounts and determining which ones appeal to you the most. We’re also comparing financial institutions on trustworthiness.
All pros and cons
Find out the pros and cons
Ally vs. Compare checking accounts
Ally Interest Checking Account
Annual Percentage Yoield (APY).
0.10% to 0.255%
Minimum Deposit Amount
$0
Ally Interest Checking Account
Annual Percentage Yield
0.10% to 0.255%
Minimum Deposit Amount
$0
Details
Annual Percentage Yoield (APY).
0.10% to 0.255%
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Additional Reading
Discover Cashback Debit Account
Annual Percentage Yoield (APY).
None
Minimum Deposit Amount
$0
Discover Cashback Debit Account
Annual Percentage Yield
None
Minimum Deposit Amount
$0
Details
Annual Percentage Yoield (APY).
None
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Additional Reading
Ally vs. Compare savings accounts
Find Online Savings Account
Annual Percentage Yoield (APY).
3.00% (as at 11/10/22)
Minimum Deposit Amount
$0
Find Online Savings Account
Annual Percentage Yield
3.00% (as at 11/10/22)
Minimum Deposit Amount
$0
Details
Annual Percentage Yoield (APY).
3.00% (as at 11/10/22)
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Additional Reading
Ally vs. Compare CDs
Ally High Yield Certificate Of Deposit
Annual Percentage Yoield (APY).
1.50% to 4.05%
Minimum Deposit Amount
$0
Ally High Yield Certificate Of Deposit
Annual Percentage Yield
1.50% to 4.0%
Minimum Deposit Amount
$0
Details
Annual Percentage Yoield (APY).
1.50% to 4.05%
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Additional Reading
Ally vs. Discover money market account comparisons
Ally Money Market Account
Annual Percentage Yoield (APY).
2.75%
Minimum Deposit Amount
$0
Ally Money Market Account
Annual Percentage Yield
2.75%
Minimum Deposit Amount
$0
Details
Annual Percentage Yoield (APY).
2.75%
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Additional Reading
Discover Money Market Account
Annual Percentage Yoield (APY).
2.9% to 2.95% (depending upon balance)
Minimum Deposit Amount
$2,500
Discover Money Market Account
Annual Percentage Yield
2.9% to 2.95% (depending upon balance)
Minimum Deposit Amount
$2,500
Details
Annual Percentage Yoield (APY).
Depending on your balance, 2.90% or 2.95%
Minimum Deposit Amount
$2,500
Pros & Cons
Highlights
Additional Reading
Ally vs. Discover trustworthiness of banks and BBB ratings
The Better Business Bureau rates businesses on the basis of how they deal with customer complaints and issues.
Discover Bank has been recognized A+ ratingThe Better Business Bureau. Ally also received an A rating from the BBB because it has three unresolved complaints.
Keep in mind, however, that a high BBB rating does not necessarily mean that your relationship with the bank will go smoothly. Ask current customers for recommendations or look online at customer reviews to determine if these banks are a good choice.
None of the financial institutions has been implicated in any scandals.
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