They offer high interest rates that are comparable to other big named banks, so be sure to check out all the products they have.
There’s no minimum deposits or service fees on their banking products.
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.
|Discover Bank Online Savings||0.40% APY||Review|
|Discover Cashback Debit||$360 Cash Back||Review|
|Locations||Online Only||Online-only Bank|
|ATMs||Over 60,000 no-fee ATMs||Over 43,000 no-fee Allpoint ATMs|
-24/7 customer service
-No account minimums
-Good customer service
|Cons||-No interest checking
-$2,500 minimum deposit for CDs
|-Low Checking APY for lower balance customers|
|Bottom Line||Discover Bank offers some of the highest interest rates on the market.||Ally Bank is an online only based banking that offers full service with the most competitive rates.|
Table of Contents
Discover Bank Promotions
Open a Discover Online Savings Account for all these features:
• Earn high interest rate of 0.40% APY
• No minimum opening deposit, no minimum balance requirement, and now no fees
• Interest on Discover Online Savings Accounts is compounded daily and credited monthly
• Manage your account online or with the Discover mobile app
• FDIC insurance up to $250,000
See advertiser website for full details
Ally Bank Promotions
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
Compare to Other Banks
- Ally Bank vs Bank of America
- Ally Bank vs Wealthfront
- Ally Bank vs Capital One
- Ally Bank vs Marcus by Goldman Sachs
- Ally Bank vs Axos Bank
- Ally Bank vs CIT Bank
- Ally Bank vs Discover Bank
- TD Bank vs Ally Bank
Which Bank is Better: Discover or Ally Bank?
- Discover Bank’s savings and customer service are worth checking out since it offers high-interest rates compared to traditional savings accounts that pay very little interest.
- Ally Bank offers good interest rates and no account minimum or service fees.
More on Discover Bank:
More on Ally Bank
- How To Open an Ally Bank Account
- What Are Ally Bank’s Hours?
- How To Find and Use Your Ally Bank Login
- Ally Bank Routing Number
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|Discover Cashback Debit Account||$360 Cash||Review|