Ally Bank vs Bank of America: Which is Better?

Bank of America comes with competitive rates for their savings accounts. Plus, their checking accounts also bear-interest and overdraft choices. There aren’t any minimum deposits required or monthly service charges either.

On the other hand, Ally Bank offers high interest on their Savings account. They also offers interest checking and multiple CD options, including No Penalty and Raise Your Rate CDs. Furthermore, there is no minimum deposits or service fees for any of their banking products.

There are no service fees for any products so be sure to take advantage of both a personal and business checking account.

	Ally Bank	Bank of America
Locations	Online only	4600 retail financial centers around the country and branches in more than 40 other countries.
ATMs	More than 43,000 no-fee Allpoint ATMs	Approximately 15,900 ATMs around the country.
Savings	4/5	3/5
CD	4/5	2/5
Checking	4/5	2.5/5
Money Market	4/5	None
Customer Service	5/5	4/5
Mobile App	5/5	4.5/5
Pros	-CD options -No account minimum -Good customer service	-National availability -Extended customer service hours -Full service bank
Cons	-Low Checking APY for lower Diffcustomers	-No free checking option -Low interest rates -Many misc. banking fees
Bottom Line	Ally Bank has many financial products to offer.	Bank of America is a national bank with widespread accessibility and wide range of services.

Conclusion

In conclusion, Ally Bank and Bank of America both offer fantastic saving rates and service and care for their customers. Both Ally Bank and Bank of America are head-to-head when it comes with most of their financial products.

For more variety of options, see our list of the best bank account bonuses & savings account offers.

Discover Bank Promotions: $360 Cashback Debit Bonus, Up to 4.00% APY for 2025

Huntington Bank Bonuses & Promotions: $100, $400, $1,000 Checking Offers 2025

TD Bank Promotions: $200, $300, $500 Checking, Savings, Business Bonuses 2025

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