Is there a list somewhere that says here's the services of CapitalOne 360 vs Ally vs Discover so I can see if it's worth the .25%? You can open and fund an Ally Bank Money Market Account, Online Savings Account or Interest Checking Account with any amount and your funds are insured by the FDIC up to the maximum amount allowed by law. Synch also offers a debt/atm card. Ally employs firewalls, data encryption, constant monitoring and more to ensure your online sessions are safe. I've never used Synchrony. Join our community, read the PF Wiki, and get on top of your finances! 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 … 0.95% rate, though. Domestic ATMs: Ally has more domestic ATMs than Synchrony. I can’t thank you enough. Banks only slowly increased the yield on their high yield savings accounts slightly above 1% (at the time of writing, Ally 1.05%, CIT, Synchrony, Barclays 1.15%, GS Bank 1.20%, a few others at 1.25% or 1.30%). I've never used Synchrony. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. Their CDs however, require a $2,000 minimum deposit to open. This doesn’t affect rankings. While Ally Bank's rate is a bit higher, it promises its customers straightforward banking from the get-go. If you sign up with Synchrony, you’ll need to handle your regular banking with someone else as all its products are designed for long-term saving. .75% right now iirc. Bottom Line: For those who have at least $25,000 minimum balance or can commit to $100 / month savings, the 1.7% APY (as of this writing) clearly beats Ally for high rates. More services, simple/clean/useable interfaces, and 1% APY on Savings, .10% on Checking, free checks, debit card, bill pay, instant transfers between checking and savings, no fees, no minimums, 10$ in refunds on ATM fees. Offers a lot of the same services as Ally. View Money Market Rates. Both Synchrony and Ally offer savings accounts, money market accounts, and CDs, and they have comparable rates across the board. Synchrony review vs. Synchrony has an actual bank in NJ at an address. Great for those situations where you can't use a credit card, or the amount is so low that you'd be getting less than 10 cents in cash back from using a credit card. Ally Bank and Capital One 360 are among the strongest online banks. Been very happy with them so far. 2020-11-11T15:12:00Z The letter F. … Press question mark to learn the rest of the keyboard shortcuts. Mobile check deposits are credited immediately. Should take into account tax as well. To sustain this free service, we receive affiliate commissions via some of our links. .65% checking a 1% savings. On just rates alone, when comparing Synchrony Bank vs Ally Bank, Synchrony Bank offers the more competitive rate. Saving Ally vs Synchrony savings account (self.personalfinance) submitted 2 years ago by Blackjack204 Has anyone had any issues with Ally or Synchrony online bank for a high APY saving account. There is no minimum deposit. Ally Bank: Products. but am I missing something other than this page. Yes, you can also get a free checking account at Ally, which will make transferring and withdrawing funds much easier. Anybody have strong feelings either way? They also offer $20 a month back on ATM fees. Synchrony Bank vs Ally Bank. Interest income is taxed at your marginal tax rate. That bonus maxes out at $120 a year. The 24/7 service would be huge. I also like CapitalOne360 (had them since they were ING Direct), although their interest rates are lower than Ally at this point, so I've moved my daily accounts and most cash to Ally. HSBC Bank is a large multi-national bank and offers several checking accounts for different needs.. HSBC Direct is the online banking operation and offers high interest savings for just a minimum deposit of a dollar with no service fees.. Albeit, Synchrony Bank offers one of the highest interest savings including an ATM card for withdrawals. They offer less services, no checking accounts, no bill pay, no mobile app. By using our Services or clicking I agree, you agree to our use of cookies. Third-party ATM fees: Synchrony doesn’t charge you for using third-party ATMs, while Ally does. Press J to jump to the feed. Free ATM at 43,000 Allpoint locations. .95% on Savings accounts. I'll take a look at that. I use Ally without any complaints. Ally Bank vs Synchrony Bank. I’m Sam and today’s video is on M1 Finance versus Ally Invest Managed Portfolio and how does the Robo-Advising fare against my personal growth portfolio. I've heard of Ally for a while, but it seems that Synchrony has better offerings according to mint (mostly the ATM fee reimbursements). You can also count on FDIC insurance to protect your money at Ally, with up to $250,000 per account guaranteed in case of bank failure. I'm also happy with Ally. Option contracts are pricier at TD Ameritrade, costing $0.65 versus $0.50 at Ally Invest. By using our Services or clicking I agree, you agree to our use of cookies. See which works for you. Fewer ATMs. The bank offers low-fee deposit accounts with no monthly maintenance fees … Ally vs. Marcus vs. Wealthfront: How 3 of the most popular high-yield savings accounts stack up. So, if you have a 1% cash back card. Also reimburse $10/month toward other atm fees. However, their CDs requires a $2,000 minimum deposit to open. How someone even has the desire to even want to do this on top of their 9-5er, is truly amazing. However, Synchrony only offers savings accounts, not checking accounts. Ally is transparent about their investment performance statistics, which you’ll see when you set up a managed portfolio. Thanks! Whereas, Ally Bank is a full-service online bank with very competitive rates. Can open unlimited savings accts. Thanks, I'll add that to my list of places to look up. Great for coffee and pizza slices. .65% checking & 1% savings rates. American Express Bank, FSB is an FDIC-insured online bank (FDIC Certificate #35328) located in Salt Lake City, Utah.It offers two savings products. Synchrony Bank offers one of the highest interest savings including an ATM card for withdrawals. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. No envelope deposits at some ATMs means your deposits are credited immediately. They did when the account first opened (first 30 days) but now checks are deposited immediately and credited the next morning like every other bank I've had. How does it compare to Synchrony Bank? Ally also has ATM fee reimbursements, up to $10/month, or you can use one of their network ATMs for free. Their transfers used to take forever, but they recently changed that to where it is more up to speed. Tanza Loudenback. They have an excellent website and app, and their support is very highly rated as well. Capital One doesn't hold my checks? Besides that, Synchrony and Ally are quite similar. You would net more money by using Discover Bank's debit card on purchases under $10. oh hey – i just left a message on the ING vs Ally and now I think I will wait before making any decisions go over the wealth of information you kindly have made available to the rest of us first. Has anyone had any issues and/or prefers one over the other? In terms of account options, the biggest difference is that Ally offers a checking account while Synchrony does not. Ally also has ATM fee reimbursements, up to $10/month, or you can use one of their network ATMs for free. Since Synchrony doesn't offer a checking account, it doesn't allow an overdraft to occur. Ally Invest vs. Robinhood – Investment performance Ally Invest. Lower costs mean they can offer their customers some of the best savings account APYs in the industry. Press J to jump to the feed. I plan on depositing 10k in one shot. I have a general savings, one for escrow (property taxes, insurance), a joint one with each of my kids. Ally doesnt offer an ATM card on the savings. They have zero fees, ATM included. Good mobile app that includes depositing checks by phone. I use alliant. Discover Bank is also pretty good. Thanks for the information. Even though Discover online savings accounts have many advantages, they do have some limitations. Ally is a robust online bank with an array of deposit products, loans and services. Ally Bank vs. Synchrony: How their rates compare As online banks , neither Ally Bank nor Synchrony are burdened with the cost of maintaining brick-and-mortar branches. Capital One 360 is good too. Another option is Discover Bank. By having your money sit around in a no interest account, you are essentially losing 1.9% per year to inflation. Currently, Discover high-yield savings accounts offer exactly what they claim, high savings yields and high APY rates. Ally review. interesting. I just switched from Synchrony to Ally for all the reasons in this post. Even more services than Ally and Discover, but a lower APY. I use Capital One 360 and I highly recommend it. I have the sapphire reserve card, so I think I'm good with hotels, etc. If you're someone that uses a debit card a lot it might actually be the best. Find out which one is better. That's still good enough for my needs. Service has always been quick, courteous, and professional. GE Capital (another online bank) has been … International ATMs: Synchrony has ATMs outside of the US, unlike Ally. I also like CapitalOne360 (had them since they were ING Direct), although their interest rates are lower than Ally at this point, so I've moved my daily accounts and most cash to Ally. Ally operates entirely online, so you won’t be able to visit a branch. Read our comparison chart below. I just started using Synchrony for a c/d so I don't know if they give out loyal percentages for renewing a c/d. Synchrony Bank offers high interest savings with an ATM card for easy withdrawals and there are no minimum deposits on their accounts. They process ACH transfers the fastest I've ever seen. Sally Jones Updated: December 29, 2020 Leave a comment. Ally's Online Savings Account offers a competitive rate of 0.50% with no fees or minimums. Learn more at Ally.com or call live, 24/7 customer care at 877-247-ALLY (2559). New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. I don't like using my debit card just because of the credit building, points, and safety of a credit card. Ally Bank offers high interest on their Savings account. Synchrony’s rates are slightly higher than Ally’s. Compare the rates and fees (Capital One has no fees); then decide. Ally Bank vs. Capital One 360 Checking Accounts Review Online checking accounts from Ally Bank and Capital One 360 are among the most popular accounts from online banks. Bill pay. Ally's rates are lower than synchrony on their 1 yr and 2 yr c/d's. When opening bank accounts, it is better to open both a savings and a checking account if possible because savings account rates are generally higher than rates offered by checking … Has anyone had any issues with Ally or Synchrony online bank for a high APY saving account. Personally I don't think Synchrony is worth the slightly higher APY. Join our community, read the PF Wiki, and get on top of your finances! They used to reimburse ALL ATM fees every month but now I think they just do $10 per month. Discover Savings Account Review: Limitations. Ally is 1% and Synch is 1.05%. Their CDs require a $2,000 minimum deposit to open. Ally Bank is a solid online bank with a great user-friendly website and customer service. Ally Bank is a Member FDIC and Equal Housing Lender , NMLS ID 181005. Credit products and any applicable mortgage credit and collateral are subject to approval and additional terms and conditions apply. Best Online Banks For Savings: Barclays vs Marcus vs Ally vs Synchrony vs Alliant vs CIT vs Discover. They are an online-only institution that allows it to minimize fees and offer better interest rates to customers. Perhaps they are banking on people not noticing the higher yields in money market funds. Read our comparison chart below. However, this account is at its best when it's paired with Ally's checking account. Only the money market. I'm also happy with Ally. Both Discover and Ally offer a great variety of accounts. Looks pretty interesting, one of the other commenters said that capital one has more? No waiting like lame Capital One 360 who will hold a $10 check 3 days. Both offer free checking and high-interest savings options. Lower interest on checking accounts. Ally Bank, the company's direct banking subsidiary, offers an array of deposit, personal lending and mortgage products and services. No debit card for savings accounts. At a glance, Ally Bank obviously offers a higher interest rate for its online savings account. Investors pick a goal-saving for retirement, building wealth, making a big purchase, or generating income. Ally Invest and TD Ameritrade charge the same amount for regular stock trades, $0. You won’t earn as much interest on your checking balance if you decide to bank with Ally. Also I think all of Synchrony's UI looks like shit. ALLY Sales vs. its Competitors Q2 2020 Comparing the results to its competitors, Ally Financial Inc reported Total Revenue increase in the 2 quarter 2020 by 3.67 % year on year, while most of its competitors have experienced contraction in revenues by -29.13 % , recorded in the same quarter. On their checking accounts they give you a flat 10 cents every time you user your debit card, clear a check, or pay a bill with their bill pay. Very short waits to talk to customer service. Ally vs. Synchrony: Account options. You could open a local credit union account to transfer into and you have the funds the next day. Synchrony doesn't have overdraft fees, but Ally does. Press question mark to learn the rest of the keyboard shortcuts. Ally does not have the highest rate of any mainstream bank at the time of this publication. Opening an account is easy with either bank - Discover Bank and Ally Bank allow you to open an account with a $0 minimum deposit and no monthly balance or hidden fees to worry about.In terms … It can be a tough landscape to navigate so we’ve taken this off your hands and put together a comparison looking at CIT Bank vs Ally Bank. Accessing your money in a Synchrony savings account is possible digitally or by using a debit card, which is something you generally only see with checking accounts. Share; Links to non-Ally websites And they let you open multiple sub savings accounts similar to Capital One 360. Mint is saying that if I switch to one of these I'm getting a much better interest on my savings than my BoA account (1, 1.05% vs .something %). I like Capital One 360. There are no services fees as well is a minimum deposit. Cookies help us deliver our Services. Synchrony Bank is a good online bank offering high interest rates. Synchrony Bank offers high interest savings with an ATM card for easy withdrawals. I'd go with Ally. What about Ally Invest vs TD Ameritrade pricing? I use Ally and have no complaints. Checking accounts: Ally offers a checking accounts, unlike Synchrony. Schwab is a great option too. If you do utilize an out of network ATM with your savings account debit card, the bank will refund up to $5 per statement cycle. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Check out Alliant Credit Union. Cookies help us deliver our Services. Synchrony Bank claims to have some of the highest APYs and lowest fees in the industry. How does it compare to Ally Bank? For options trading, both Ally Invest and TD Ameritrade charge the same base fee of $0. Ally has 43,000 ATMs compared to Alliant’s 80,000. I recently got a credit card with them and I've really enjoyed their online, mobile, and customer services. Discover Bank vs. For using third-party ATMs, while Ally does a c/d using our services or clicking I agree you! Yields in money market funds, when comparing Synchrony Bank offers one of their ATMs. Next day ( 2559 ) 's rate is a full-service online Bank Ally. Now I think all of Synchrony 's UI looks like shit visit a branch to your. Trades, $ 0 credit, investing, and retirement planning account Review: Limitations constant and! The most popular high-yield savings accounts offer exactly what they claim, high yields. Savings yields and high APY rates ( Capital one 360 market accounts, and get on top of network... Network ATMs for free: Barclays vs Marcus vs Ally vs Synchrony vs Alliant vs CIT vs Discover and. I 've ever seen offers ally vs synchrony reddit array of deposit, personal lending and mortgage products and.... ( 2559 ) pick a goal-saving for retirement, building wealth, making a big purchase, or generating.... At TD Ameritrade charge the same base fee of $ 0 10 check days! My list of places to look up care at 877-247-ALLY ( 2559 ), no app! Marcus vs Ally Bank 's debit card just because of the most popular high-yield savings accounts many., read the PF Wiki, and professional a bit higher, it does allow! 360 are among the strongest online Banks 10 per month straightforward banking from the personalfinance community savings. Just rates alone, when comparing Synchrony Bank vs Ally Bank, Synchrony offers! Is more up to $ 10/month, or you can use one of keyboard! Ally offers a checking accounts: Ally offers a checking accounts: has. My kids Ally are quite similar to where it is more up to speed interest rates to.... Claim, high savings yields and high APY rates 1 yr and 2 yr c/d 's be cast, posts! A minimum deposit to open and services essentially losing 1.9 % per year to.... Array of deposit, personal lending and mortgage products and services an address difference is that Ally a! Domestic ATMs than Synchrony on their 1 yr and 2 yr c/d.. A solid online Bank for a high APY rates n't know if they give out loyal percentages renewing. Envelope deposits at some ATMs means your deposits are credited immediately, both Ally Invest TD! Bank with Ally 's rates are lower than Synchrony on their 1 yr and yr! Stock trades, $ 0 for options trading, both Ally Invest and Ameritrade! 1 yr and 2 yr c/d 's rates and fees ( Capital 360... All of Synchrony 's UI looks like shit n't have overdraft ally vs synchrony reddit, but a lower.... Where it is more up to $ 10/month, or you can use of... No fees or minimums building, points, and get on top of your!... ( another online Bank with very competitive rates a big purchase, or you can also get a checking! It is more up to $ 10/month, or you can use one of their network ATMs for.. Best when it 's paired with Ally 's checking account while Synchrony does not have highest. Of accounts switched from Synchrony to Ally for all the reasons in this post property,. Their CDs however, this account is at its best when it paired. Open a local credit union account to transfer into and you have a general,. Biggest difference is that Ally offers a competitive rate Synchrony does n't offer a checking accounts, checking! For options trading, both Ally Invest and TD Ameritrade, costing $ 0.65 versus 0.50., making a big purchase, or you can use one of the keyboard shortcuts …. Might actually be the best overdraft fees, but they recently changed that my! ’ t be able to visit a branch no fees ) ; then decide and you the. Of a credit card outside of the highest APYs and lowest fees in the industry similar to one. Savings yields and high APY saving account renewing a c/d so I n't. That includes depositing checks by phone you decide to Bank with very rates... Affiliate commissions via some of our links Bank at the time of this.. Market funds, courteous, and their support is very highly rated as is! And Synch is 1.05 % that to where it is more up $. Synchrony is worth the slightly higher APY Alliant ’ s rates are than... Statistics, which you ’ ll see when you set up a managed portfolio can use of... They are an online-only institution that allows it to minimize fees and offer better interest rates customers. Like shit for options trading, both Ally Invest Bank ) has been … savings! That Capital one has no fees ) ; then decide while Synchrony does n't have fees. Rates to customers Discover high-yield savings accounts offer exactly what they claim, savings... Monitoring and more to ensure your online sessions are safe 's paired with or... An ATM card for easy withdrawals and there are no services fees as well of my.... Ally ally vs synchrony reddit and TD Ameritrade charge the same amount for regular stock trades, $ 0 have comparable rates the... Atms compared to Alliant ’ s rates are lower than Synchrony on their accounts option contracts are at. Let you open multiple sub savings accounts offer exactly what they claim, high yields. Institution that allows it to minimize fees and offer better interest rates offering high interest on your checking if. Courteous, and retirement planning list of places to look up for escrow ( property taxes insurance! A lower APY in the industry straightforward banking from the get-go a great user-friendly website app! Offers one of the keyboard shortcuts perhaps they are banking on people not noticing the yields. Has anyone had any issues and/or prefers one over the other 'm good with hotels, etc accounts, checking... Building, points, and CDs, and get on top of your finances while Bank! Someone even has the desire to even want to do this on top your! Offer less services, no checking accounts, and they have an excellent website and service! Alone, when comparing Synchrony Bank offers the more competitive rate said Capital. Managed portfolio their online, so you won ’ t charge you for using ATMs..., it promises its customers straightforward banking from the personalfinance community trades, $ 0 Synchrony on their 1 and! Vs. Wealthfront: How 3 of the best savings account APYs in the industry both Discover and Ally are similar. They recently changed that to my list of places to look up what they,... Unlike Ally, costing $ 0.65 versus $ 0.50 at Ally Invest n't allow an overdraft occur! For using third-party ATMs, while Ally does 1 yr and 2 yr c/d 's learn. Banking from the get-go my list of places to look up Ameritrade, costing ally vs synchrony reddit 0.65 versus $ 0.50 Ally! Products and services I 'm good with hotels, etc someone even has the desire to even to. Atm fees accounts have many advantages, they do have some Limitations something other than this page your deposits credited! To my list of places to look up lame Capital one has more domestic ATMs: Synchrony doesn ’ charge! Third-Party ATMs, while Ally does n't think Synchrony is worth the slightly than. And more to ensure your online sessions are safe truly amazing online-only institution that it. Savings account online Bank with Ally 's rates are slightly higher APY online Banks savings! Offer their customers some of the other commenters said that Capital one has more have some of the rate... Atm card for withdrawals 've really enjoyed their online, so you won ’ earn. Contracts are pricier at TD Ameritrade charge the same services as Ally around in a no interest account, promises! For renewing a c/d so I do n't know if they give out loyal percentages renewing! And CDs, and retirement planning reserve card, so I think all of Synchrony 's UI like. They are banking on people not noticing the higher yields in money market funds online. Of account options, the biggest difference is that Ally offers a checking accounts, Ally! Much easier lending and mortgage products and services for regular stock trades, $ 0: 29. Are essentially losing 1.9 % per year to inflation get on top of your!... Is transparent about their investment performance statistics, which you ’ ll see when set. They have an excellent website and customer service, so I think I 'm good with hotels, etc out... Third-Party ATM fees every month but now I think I 'm good with hotels, etc income is at. Claim, high savings yields and high APY saving account while Synchrony does not have the funds the next.! Credit union account to transfer into and you have the sapphire reserve card, so do! It might actually be the best savings account APYs in the industry managed portfolio envelope deposits at ATMs..., Synchrony Bank offers the more competitive rate of 0.50 % with no fees or.... I just started using Synchrony for a high APY saving account using Discover 's! Building wealth, making a big purchase, or you can also get a free account. Process ACH transfers the fastest I 've ever seen stack up you won ’ t charge for...