Synchrony Bank vs Ally Bank: Which Is Better?

Synchrony Bank offers high interest savings with an ATM card for easy withdrawals and there are no minimum deposits on their accounts. Their CDs however, require a $2,000 minimum deposit to open. There are no service fees for any products so be sure to take advantage of both a personal and business checking account.

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.

	Synchrony Bank	Ally Bank
Locations	Online Only	Online Only
ATMs	Any ATMs with Plus or Accel logos	Over 43,000 no-fee Allpoint ATMs
Savings	5/5	4/5
CD	4/5	–
Checking	–	3/5
Money Market	4/5	4/5
Customer Service	4/5	5/5
Mobile App	–	5/5
Pros	Savings with ATM card High APY All balance tiers receive same rate	CD options No account minimums Good customer service
Cons	No checking account $2,000 minimum deposit for CDs Limited customer service hours	Low Checking APY for lower balance customers
Bottom Line	Good online bank offering high interest rates	Solid online bank with a great user-friendly website and customer service.

Synchrony Bank Promotions

Synchrony is one of the nation’s premier consumer financial services companies – pioneering the future of finance – engaging consumers as they spend and save.

Synchrony provides a range of credit products through programs they have established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers to help generate growth for their partners and offer financial flexibility to our customers.

Savings Account Offers

• Available nationwide, Synchrony Bank is offering you a 1.20% APY on your funds for opening a new Synchrony Bank Money Market Account.
• If you’re looking for a new savings account available nationwide, Synchrony Bank High Yield Online Savings is offering you 1.50% APY on your funds.
• Consider opening a Synchrony Bank Certificate of Deposit Account if you’re looking for a CD with a high competitive rate! Rest assured that your money is FDIC-insured up to $250,000!

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.

Checking Account Features

The Ally Bank checking account comes with these features.

• Deposit checks remotely: With Ally eCheck Deposit℠ you can deposit checks right from your smartphone. Just snap a photo and you’re good to go. Plus, watch your money grow fast with interest compounded daily.
• Use any Allpoint® ATM in the U.S. for free: Ally Bank will reimburse up to $10 per statement cycle for fees charged at other ATMs nationwide. Keep in mind, rates are variable and may change after the account is opened.
• Move money your way: Transfer money with your voice through Ally Skill™ for Amazon Alexa. Plus, easily send and receive money with people you know using Zelle®. Do it all without monthly maintenance fees.

Savings Account Offers

• Online Savings: This account earns 1.50% APY. There are no minimum balance to maintain the rate.
• Certificate: Customers can choose between a High Yield, Raise Your Rate, No Penalty CD rates to take advantage of the vast array of rates and terms.

Conclusion

In conclusion, Synchrony Bank and Ally Bank both offer fantastic features, service and care for their customers. Synchrony Bank’s savings account is an excellent account that  earns a great  interest rate.  However, Ally Bank’s customer service is outstanding with around the clock tech support.

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

Chase Coupon Codes 2025 ($100, $200, $300, $400, $500, $700, $2000 Checking Bonuses)

Discover Bank Promotions: $150/$200 Savings Bonus, $360 Cashback Debit Bonus, Up to 4.00% APY for 2025

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

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