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Ally Bank and Capital One 360 are two online banks that offer higher annual percentage yields, or APYs, than most traditional banks. If you’re looking to earn more on your savings (and pay fewer fees), they’re both worth a look — and you’ll still find a variety of accounts and easy access to customer service. But which is for you? Our head-to-head comparison can help you decide.
Snapshot comparison
Ally Bank | Capital One 360 | |
---|---|---|
Checking accounts | Ally Interest Checking
| Capital One 360 Checking
|
Savings accounts | Ally Savings
| Capital One 360 Performance Savings
|
Certificates of deposit | Ally CD interest rates
| Capital One 360 CD interest rates
|
Overdrafts, ATMs, customer service | Ally Bank details | Capital One 360 details |
Choose Ally if:
You want monthly fee reimbursements for out-of-network machines.
You'd make use of 24/7 live help.
Choose Capital One 360 if:
You're looking to receive some assistance at a branch.
Ally vs. Capital One 360: Checking accounts
Ally Interest Checking | Capital One 360 Checking | |
---|---|---|
Monthly fees | $0. | $0. |
Minimum opening deposit | $0. | $0. |
APY |
|
|
ATM fees and network |
|
|
Sign-up bonus | None. | None. |
» See more options on our list of best checking accounts
Ally vs. Capital One 360: Savings accounts
Ally Savings | Capital One 360 Performance Savings | |
---|---|---|
APY | 3.75% APY on all balances. | 3.40% APY on all balances. |
Monthly fees | $0. | $0. |
Minimum deposit to open | $0. | $0. |
Sign-up bonus | N/A | N/A |
» Want to compare? Explore NerdWallet's list of top online savings accounts
Ally vs. Capital One 360: Certificates of deposit
Ally | Capital One 360 | |
---|---|---|
Minimum opening deposit | $0. | $0. |
APY on one-year term | 4.50% APY. | 4.15% APY. |
APY on three-year term | 2.25% APY. | 4.30% APY. |
APY on five-year term | 4.25% APY. | 4.40% APY. |
For more details: | See our post on Ally CD rates | See our post on Capital One CD rates |
» To compare, see the latest top CD rates
Ally vs. Capital One 360: Banking experience
Ally Bank | Capital One 360 | |
---|---|---|
Branches | 0. | Limited support at around 380 Capital One branches and access to over 40 Capital One 360 Cafés across the country. |
Banking apps (current ratings from app store users) |
|
|
Customer service |
|
|
Ally vs. Capital One 360: Overdraft fees
Ally Bank | Capital One 360 | |
---|---|---|
Overdraft fee | $0; you have six business days to bring your balance back to positive to avoid your account being limited. | $35, maximum of four times per day; Next Day Grace service gives you one business day to bring your account out of the red to avoid a fee. |
Overdraft protection fee | $0. | $0. |
Extended overdraft fee | None. | None. |
Two excellent options
Ally and Capital One 360 are both strong options, but your specific needs should dictate which bank you choose. If, for example, you prefer occasional in-person customer service, go with Capital One 360. If you're looking for 24/7 phone assistance, Ally would be a good fit. If neither sounds quite right, check out NerdWallet's other favorite banks and credit unions.
