Ally Bank
full-service online bank with competitive savings and goal-based buckets
How it works
Ally Bank is a full-service online bank offering checking, high-yield savings, money market accounts, and CDs — all with zero monthly fees and no minimum balances. Its signature savings buckets let you organize money by goal inside a single account, while Surprise Savings and Round-Ups automatically sweep spare cash into savings. Ally also offers auto loans, mortgages, and self-directed investing under one roof.
Is it right for you?
Consider if you
- You want high-yield savings with zero monthly fees and no minimums
- You want savings buckets to organize money by goal within one account
- You need a full-service online bank with checking, savings, CDs, and investing
Skip if you
- People who need physical branch access
- Those chasing the absolute highest savings APY on the market
Your money and data
Ally Bank is a federally chartered online bank, Member FDIC. Deposits are FDIC-insured up to $250,000. Ally connects third-party budgeting apps via read-only Plaid integration — it can view your transactions but cannot move money on your behalf. Data is encrypted in transit and at rest.
Pros & Cons
Pros
- No monthly fees or minimum balances on any deposit account
- Savings buckets and Surprise Savings tools for goal-based saving
- 24/7 customer service with competitive 3.10-3.30% APY on savings
Cons
- Online only — no physical branches for in-person service
- Checking APY is modest at 0.10-0.25%
Pricing details
$0/month · no minimum balance · no monthly fees on any deposit account
On ally.com · We may earn a commission
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