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Editor’s note: Online banking platform Simple announced its shutdown and transition to BBVA USA in January this year. Then in June, BBVA was acquired by PNC Bank. According to PNC, the full conversion of bank systems and branches will occur in October 2021.
Ally Bank and PNC Bank are two leading banking services. Customers can count on them for good online banking platforms.
Both banks are solid choices, offering free access to thousands of ATMs, fee-free savings accounts and a variety of CD options. But each bank shines in different areas: Ally offers significantly higher interest rates, while PNC offers branches that customers can go to. Here’s a closer look at the details of each bank and what makes them stand out.
We compared Ally and PNC across several categories to help you determine the best fit.
Snapshot comparison
Ally Bank | PNC Bank | |
---|---|---|
Checking accounts | Ally Spending Account
| PNC Virtual Wallet Spend
|
Savings accounts | Ally Savings Account
| PNC Virtual Wallet Growth
|
Certificates of deposit | Ally High-Yield CD
| PNC Fixed Rate CD
|
Overdrafts, ATMs, customer service | Ally details | PNC details |
Choose Ally Bank if:
You want a full suite of banking products.
You value having several ways to reach customer service at any time, including online chat.
You occasionally use out-of-network ATMs. (Ally offers fee reimbursements up to $10 monthly.)
Choose PNC Bank if:
You prefer bundled checking and savings.
You want access to branches.
Ally Bank vs. PNC Bank: Basic checking accounts
Ally Spending Account | PNC Virtual Wallet Spend |
---|---|
Monthly fees | |
$0. | $7. 3 ways to waive it |
Minimum opening deposit | |
$0. | $0. |
APY | |
|
|
ATM fees and network | |
|
|
Sign-up bonus | |
N/A. | Up to $300 (expires 04/30/2024); our bank bonuses roundup explains how to qualify. |
» See more options on our list of best checking accounts
Ally Bank vs. PNC Bank: Basic savings accounts
Ally Savings Account | PNC Virtual Wallet Growth |
---|---|
APY | |
4.20% APY on all balances. | 0.01% APY on all balances. |
Monthly fee | |
$0. | $0. |
Minimum deposit to open | |
$0. | $0. |
Sign-up bonus | |
N/A. | Up to $300 (expires 04/30/2024); our bank bonuses roundup explains how to qualify. |
» Looking for higher rates? Explore NerdWallet's list of top online savings accounts
Ally Bank vs. PNC Bank: Certificates of deposit
Ally High-Yield CD | PNC Fixed Rate CD | |
---|---|---|
Minimum opening deposit | $0. | $250. |
APY on one-year term | 4.50%. | 0.01% APY for balances under $1,000; 0.02% APY for balances of $1,000 to under $25,000; 0.03% for balances of $25,000 or more. |
APY on three-year term | 4.00%. | 0.01% APY for balances under $1,000; 0.02% APY for balances of $1,000 to under $25,000; 0.03% for balances of $25,000 or more. |
APY on five-year term | 3.90%. | 0.01% APY for balances under $1,000; 0.02% APY for balances of $1,000 to under $25,000; 0.03% for balances of $25,000 or more. |
» To compare, see our list of the best CD rates
Ally Bank vs. PNC Bank: Banking experience
Ally Bank | PNC Bank | |
---|---|---|
Branches | 0. | 2,300. |
Banking apps (ratings from app store users) |
|
|
Customer service |
|
|
Ally Bank vs. PNC Bank: Overdraft fees
Ally Bank | PNC Bank | |
---|---|---|
Overdraft fee | $0. | $36, maximum of four per day. |
Overdraft protection transfer fee | $0. | $0. |
Extended overdraft fee | N/A. | N/A. |
Member FDIC
Barclays Online Savings Account
4.35%
$0
Member FDIC
EverBank Performance℠ Savings
5.15%
$0
Two strong options with distinct strengths
Ally and PNC are both strong banking options, and their services will come as a welcome change of pace for folks accustomed to high fees.
If you want the option of getting service in person at a branch and prefer your checking and savings accounts to be bundled together, PNC is a better choice for you. But if you want a bank with well-rated mobile apps and strong customer service options, Ally’s suite of savings products will serve you well. You can see other options on our list of best banks and credit unions.
On a similar note...
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