Capital One 360(see below) and Ally Bank(see below) are two of the best online banks around, both offering a wide variety of accounts and services provided. They both provide saving accounts and money market accounts but each offer different benefits and APY rates. To find which bank is right for you compare your needs with our information below regarding each account and bank.

Capital One 360 Money Market Account:

• See Table Below
• Account Type: 360 Money Market
• Availability: Nationwide
• Expiration Date: None
• Credit Inquiry: Soft Pull.
• Credit Card Funding: Unknown. Let us know.
• Monthly Fee: None
• Additional Requirements: Savings rate is available for balances of $10K or higher. Balances under $10,000 earn 0.85% APY.
• Closing Account Fee: None.

Ally Bank Online Savings Account:

• See Table Below
• Rate: 1.75% APY
• Account Type: Online Savings Account
• Availability: Nationwide
• Expiration Date: None
• Credit Inquiry: Soft Pull.
• Credit Card Funding: Unknown
• Monthly Fee: No monthly maintenance fees.
• Additional Requirements: None
• Closing Account Fee: No

Capital One Vs. Ally Bank Savings Account:

Capital One 360(see above) and Ally Bank Savings(see above) both offer automatic transfer from linked checking, $0 in monthly fees and $0 in minimum opening deposits for Savings Accounts. But Ally offers a higher interest of 1.75% compared to the 0.85%  interest at Capital One on balances below $10k. Capital One 360’s Money Market Accounts offer a 0.85% APY for balances up to $10,000 and 1.75% for balances above $10,000. While Ally Bank Saving’s Money Market Account offers a 1.75% APY for all balances and a free Debit card. Depending on the amount of money you have you should get different Money Market Accounts, such as if you have a balance above $10,000 you should get a Capital One Money Market, if you have a balance of below $10,000 then you should get a Ally Money Market Account.

Customer Service: 

Both banks have 0 branches but Capital One 360, has Capital One 360 Cafes  in six metro areas across the US. Ally Bank’s apps are 2.5 stars out of 5 in the ios store and 3.4 out of 5 star on android. Capital One apps are rated 4.5 out of 5 stars in both ios and android, so if you plan on doing a lot of mobile banking it might be best to have Capital One. But Ally’s mobile app allows it’s customers to deposit up to $50,000 per day while Capital One’s is $5,000. If you’re planning on doing any major banking then it might be best to get a Ally Bank Account. Ally Bank offers customer service by phone, chat, email and social media while Capital One does all but chat.

Bottom Line:

Capital One 360(see above) and Ally Bank Savings(see above) both offer great savings and money markets accounts. But depending on your balance, and whether you want a Savings Account or a Money Market Account, there are different APY rates and benefits. And depending on your needs with customer service and accessibility make sure to use our information above and sign up for either Alley Bank or Capital One 360 today. Visit our table for the best bank rates now!