Ally Bank vs Marcus by Goldman Sachs: Which is Better?

Marcus by Goldman Sachs offers savings accounts and CDs at high interest rates. 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.

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.

	Marcus by Goldman Sachs	Ally Bank
Locations	Online Only	Online Only
ATMs	None	Over 43,000 no-fee Allpoint ATMs
Savings	3/5	4/5
CD	–	–
Checking	3/5	3/5
Money Market	–	4/5
Customer Service	3/5	5/5
Mobile App	–	5/5
Pros	CD options Good Savings Rates	CD options No account minimums Good customer service
Cons	Low Checking APY for lower balance customers	Low Checking APY for lower balance customers
Bottom Line	Marcus offers savings products with very competitive rates and no minimum deposit and no services fees.	Ally Bank is a full-service online bank with very competitive rates. Their banking products have no minimum balance requirements or service fees.

Ally Bank Promotions

Being an internet bank focused on offering industry-leading rates, savings, and investment products, Ally Bank is definitely your go-to financial institution. Through their vast array of products, you are able to find an account to fit your financial needs.

What to Open at Ally Bank

Keep your eye out on these great Ally Bank products:

• Ally Invest Trade Bonus: You can earn up to $3,500 bonus when you open a new Ally Invest Account. You must fund the account with a minimum of $10,000 to receive the bonus.

Marcus by Goldman Sachs Promotions

Marcus by Goldman Sachs isn’t meant to replace all your banking needs. It’s good as a bare-bones savings account with high rates. You can park your money there and have it grow securely.

Marcus by Goldman Sachs only offers savings products and personal loans. Here’s a quick overview:

• Online Savings Account: Earn competitive interest rates with as little as just $1 deposit. This is like a typical savings account, except that there are no physical branches or an ATM network.
• High-Yield and No-Penalty CDs: CDs have $500 minimum opening deposit. You lock in a rate, so you know exactly how much interest you will earn. You can earn a higher APY if you can commit to tying up your money for longer.

Conclusion

In conclusion, Ally Bank and Marcus by Goldman Sach both offer fantastic saving rates and service and care for their customers. Marcus by Goldman Sach is good as a bare-bones savings account with high rates. However, Ally Bank is one of the most reputable online banks in the industry.

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

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