There’s no minimum deposits or service fees on their banking products.
Comparatively, Capital One offers high interest rates without all the online fees, however it’s not as high compared to other online banks.
They also offer convenience checking and savings under one roof.
Continue reading below to see a side-by-side comparison between the two banks, so you can see which one offers the services you need the most.
|Ally Bank||Capital One|
|Locations||Online-only Bank||Online based banking|
|ATMs||Over 43,000 no-fee Allpoint ATMs||Over 39,000 no-fee Capital One & Allpoint ATMs|
|Pros||-Extended banking hours
-Low requirements to waive monthly fees
-No foreign transaction fees
|-Overdraft protection options
-No account minimums
-27 Capital One cafes for in-person support
|Cons||-No free checking
|-Low savings APY compared to other online banks|
|Bottom Line||Ally Bank is an online only based banking that offers full service with the most competitive rates.||Capital One offers several banking products like checking and savings.|
Capital One Promotions
|Open Capital One 360 Money Market, Checking, & Savings with these benefits:
-Earn $100 bonus for opening 360 Money Market with $10,000 deposit or more along with a high rate of 1.15% APY.
-Earn $25 bonus with Capital One 360 Checking account and deposit at least $250 and have a total of 3 Debit Card purchases or Person2Person Payments posted to the account within 45 days of account opening.
-Earn $25 bonus with a Capital One 360 Savings account with at least $250 deposit.
-Access to over 38,000 free All point ATMs, mobile app for your on the go deposits, computer access for free P2P payments, and bill pay.
-FDIC insured for up to $250,000 so you can rest easy.
Which Bank is Better: Ally Bank or Capital One?
- Ally Bank offers good interest rates and no account minimum or service fees.
- Capital One has a good range of banking services. They are a good online bank that also has access to in-person support.