Which bank should you choose?

Insider’s experts pick the best products to help you make smart money decisions.here’s how). In some cases we receive a commission. our partnersHowever, our opinions are not influenced by these offers. These offers are subject to terms.

Popular banks include Ally and Discover Bank online banksIf you don’t want the common bank fees, these are great options. 

To help you compare the differences between banks, we are comparing savings, checking and CD accounts and determining which ones appeal to you the most. We’re also comparing financial institutions on trustworthiness.

All pros and cons 

Find out the pros and cons

Ally vs. Compare checking accounts

Ally Ally Interest Checking Account

Ally Interest Checking Account


Annual Percentage Yoield (APY).

0.10% to 0.255%


Minimum Deposit Amount

$0

Ally Ally Interest Checking Account

Ally Interest Checking Account


Annual Percentage Yield

0.10% to 0.255%


Minimum Deposit Amount

$0


Annual Percentage Yoield (APY).

0.10% to 0.255%


Minimum Deposit Amount

$0

Chevron icon It can indicate an expandable menu or section, or sometimes previous/next navigation options.

Chevron icon It can indicate an expandable menu or section, or sometimes previous/next navigation options.

Chevron icon It can indicate an expandable menu or section, or sometimes previous/next navigation options.

Discover Discover Cashback Debit Account

Discover Cashback Debit Account


Annual Percentage Yoield (APY).

None


Minimum Deposit Amount

$0

Discover Discover Cashback Debit Account

Discover Cashback Debit Account


Annual Percentage Yield

None


Minimum Deposit Amount

$0


Annual Percentage Yoield (APY).

None


Minimum Deposit Amount

$0

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Chevron icon It can indicate an expandable menu or section, or sometimes previous/next navigation options.

Chevron icon It can indicate an expandable menu or section, or sometimes previous/next navigation options.

Ally vs. Compare savings accounts

Discover Discover Online Savings Account

Find Online Savings Account


Annual Percentage Yoield (APY).

3.00% (as at 11/10/22)


Minimum Deposit Amount

$0

Discover Discover Online Savings Account

Find Online Savings Account


Annual Percentage Yield

3.00% (as at 11/10/22)


Minimum Deposit Amount

$0


Annual Percentage Yoield (APY).

3.00% (as at 11/10/22)


Minimum Deposit Amount

$0

Chevron icon It can indicate an expandable menu or section, or sometimes previous/next navigation options.

Chevron icon It can indicate an expandable menu or section, or sometimes previous/next navigation options.

Chevron icon It can indicate an expandable menu or section, or sometimes previous/next navigation options.

Ally vs. Compare CDs 

Ally Ally High Yield Certificate of Deposit

Ally High Yield Certificate Of Deposit


Annual Percentage Yoield (APY).

1.50% to 4.05%


Minimum Deposit Amount

$0

Ally Ally High Yield Certificate of Deposit

Ally High Yield Certificate Of Deposit


Annual Percentage Yield

1.50% to 4.0%


Minimum Deposit Amount

$0


Annual Percentage Yoield (APY).

1.50% to 4.05%


Minimum Deposit Amount

$0

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Chevron icon It can indicate an expandable menu or section, or sometimes previous/next navigation options.

Chevron icon It can indicate an expandable menu or section, or sometimes previous/next navigation options.

Ally vs. Discover money market account comparisons

Ally Ally Money Market Account

Ally Money Market Account


Annual Percentage Yoield (APY).

2.75%


Minimum Deposit Amount

$0

Ally Ally Money Market Account

Ally Money Market Account


Annual Percentage Yield

2.75%


Minimum Deposit Amount

$0


Annual Percentage Yoield (APY).

2.75%


Minimum Deposit Amount

$0

Chevron icon It can indicate an expandable menu or section, or sometimes previous/next navigation options.

Chevron icon It can indicate an expandable menu or section, or sometimes previous/next navigation options.

Chevron icon It can indicate an expandable menu or section, or sometimes previous/next navigation options.

Discover Discover Money Market Account

Discover Money Market Account


Annual Percentage Yoield (APY).

2.9% to 2.95% (depending upon balance)


Minimum Deposit Amount

$2,500

Discover Discover Money Market Account

Discover Money Market Account


Annual Percentage Yield

2.9% to 2.95% (depending upon balance)


Minimum Deposit Amount

$2,500


Annual Percentage Yoield (APY).

Depending on your balance, 2.90% or 2.95%


Minimum Deposit Amount

$2,500

Chevron icon It can indicate an expandable menu or section, or sometimes previous/next navigation options.

Chevron icon It can indicate an expandable menu or section, or sometimes previous/next navigation options.

Chevron icon It can indicate an expandable menu or section, or sometimes previous/next navigation options.

Ally vs. Discover trustworthiness of banks and BBB ratings

The Better Business Bureau rates businesses on the basis of how they deal with customer complaints and issues.

Discover Bank has been recognized A+ ratingThe Better Business Bureau. Ally also received an A rating from the BBB because it has three unresolved complaints.

Keep in mind, however, that a high BBB rating does not necessarily mean that your relationship with the bank will go smoothly. Ask current customers for recommendations or look online at customer reviews to determine if these banks are a good choice. 

None of the financial institutions has been implicated in any scandals. 

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