Ally Bank offers high interest rates on their savings as well as offering interest on their checking and CD account options.
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.
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| 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 |
| Savings | 3/5 | 3.5/5 |
| CD | 3.5/5 | |
| Checking | 4.5/5 | 5/5 |
| Money Market | 3.5/5 | 4/5 |
| Customer Service | 5/5 | 4.5/5 |
| Mobile App | 4.5/5 | 4./5 |
| 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 APY |
-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. |
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Ally Bank Promotions
Learn more about Ally Bank Online Savings here. Our full list of Ally Bank Promotions here.
Open an Ally Invest account to enjoy all these benefits: • Earn up to $3,000 cash bonus with deposit amount requirement • Free Trades for 90 days (up to $500 in value) when you open a new Ally Invest Securities Individual, Joint or Retirement account. • 500+ commission-free ETFs • $4.95 per equity trade with no opening minimum & option trades 65¢ per contract • $3.95 per equity trade for high-balance/high-volume traders & option trades 50¢ per contract • LIVE Trading Platform & Mobile App: Stay on top of the market with live news/streaming quotes available across multiple devices the mobile app. • Get a wide variety of investment products built with the do-it-yourself investor in mind PLUS in-depth research & market analysis tools to support all types of investment strategies |
Learn more about Ally Invest here from Axos Bank. Our full list of Ally Invest Promotions here.
Capital One Promotions
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Bottom Line
Which Bank is Better: Ally Bank or Capital One?
In summary:
- 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.
For more variety of options, see our list of the best bank account bonuses & savings account offers.
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