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.
While Marcus offers savings accounts, term CDs, and a no-penalty CD. Do note that there’s not any checking or ATM network, but they don’t have any no service account fees.
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||Marcus by Goldman Sachs|
|Locations||Online-only Bank||Online Only|
|ATMs||Over 43,000 no-fee Allpoint ATMs|
|Pros||-Extended banking hours
-Low requirements to waive monthly fees
-No foreign transaction fees
|-High interest rates
-Low opening deposits
-Extended customer service
|Cons||-No free checking
|-No mobile deposits
-No checking accounts
-No ATM card or network
-No physical branches
-No mobile app
|Bottom Line||Ally Bank is an online only based banking that offers full service with the most competitive rates.||Marcus by Goldman Sachs offers savings accounts and CDs at high interest rates.|
Ally Bank Promotions
Open an Ally Invest account to enjoy all these benefits:
• Earn up to $3,500 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
Which Bank is Better: Ally Bank or Marcus by Goldman Sachs?
- Ally Bank offers good interest rates and no account minimum or service fees.
- Marcus (previously GS Bank) is the online bank offered by the investment giant, Goldman Sachs. It offers savings products with very competitive rates and no minimum deposit and no services fees.
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