Ally Bank has several different products to choose from. They have a high interest for their checking, savings, and CD options. Plus, there aren’t any minimum deposits or monthly charges you have to worry about.
Meanwhile, Marcus by Goldman Sachs has savings, and CD accounts to offer. They do not have any checking or ATM networks to use. However, their CD account normally comes with a $500 minimum deposit to open an account. But, you won’t need to pay for any monthly service fees.
Read below for more information comparing Ally Bank and Marcus by Goldman Sachs.
| BONUS LINK | OFFER | REVIEW |
| Huntington Bank Unlimited Plus Business Checking | $1,000 Cash | Review |
| Huntington Bank Unlimited Business Checking | $400 Cash | Review |
| Huntington Bank Business Checking 100 | $100 Cash | Review |
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| Ally Bank | Marcus by Goldman Sachs | |
| Locations | Online only | Online only |
| ATMs | More than 43,000 no-fee Allpoint ATMs | None |
| Savings | 1.50% APY | 1.55% APY. $1 to open APY Rate. No fees to open or maintain account. |
| CD | 0.50% to 1.60% APY. Terms from 3 months to 5 years. 12-Month CD APY of 1.50% | 0.60% to 1.65% APY. Terms from 6 months to 6 years. 12-Month CD with 1.60% APY. $500 to open account. |
| Checking | 0.10$ APY under $15k & 0.50% APY for $15k+ | None |
| Money Market | 0.75 APY | None |
| Customer Service | 24/7 | Monday – Friday 8am-10pm (ET)
Saturday – Sunday 9am – 7pm (ET) |
| Mobile App | 5/5 | None |
| Pros | -CD options -No account minimum -Good customer service |
-CD accounts -Savings rates |
| Cons | -Low Checking APY for lower Diffcustomers | -No ATMs
-Minimum opening deposits |
| Bottom Line | Ally Bank has many financial products to offer | Marcus by Goldman Sachs has better CD rates. |
Comparing Both Banks
Both Ally Bank and Marcus by Goldman Sachs are online banks. However, there are many differences between these two banks. For one, Ally Bank has more financial products to offer their members. Meanwhile, Marcus by Goldman Sachs mainly focuses on savings and CD accounts. Many of Ally Banks reviews are highly rated as well.
With Marcus by Goldman Sachs, there aren’t many products to choose from. Since they mainly have CD accounts, their rates are much higher than Ally Bank. However, keep in mind that these come with minimum opening requirements.
Different Bank Accounts
Ally Bank has great reviews for their savings and checking accounts. Their checking accounts will all bear interest, which is a good feature to have. It comes with no minimum opening deposits, and is FDIC insured. Ally Bank also offers different savings accounts to choose from. They have 3 CD account options such as: High Yield, Raise Your Rate, and No Penalty CDs.
Meanwhile, Marcus by Goldman Sachs only has a few products to pick from. The Online Savings account, High-Yield, No Penalty CD, and Personal Loan accounts. They are more popular for the CD rates. Just put in a rate and see how much interest you’ll be able to earn. Your rate will be locked in for the whole term. Plus, their high-yield account will come with a 10-day guarantee as well.
Conclusion
Now, you know what both Ally Bank and Marcus by Goldman Sachs have to offer. When you look at the overall picture, Ally Bank seems like the better choice if you want more than just a savings account. However, if you’re specifically looking for a great CD account, Marcus by Goldman Sachs is the one for you. Both of these online banks are amazing. So picking which bank is better for you can be difficult.
