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Current vs Ally Bank

Current is a simple, digital-only banking app with impressive APY and cashback. How does it compare to Ally Bank? Read our comparison chart below.

Current is an online banking app that lets you spend, save, and invest in crypto all in one place. You get a debit card, APY on savings, and cash back at 14,000+ retailers. It also offers a teen account for ages 13+. There is no monthly fee.

While Ally Bank offers high interest on their Savings account. It also offers interest checking and multiple CD options, including No Penalty and Raise Your Rate CDs. There is no minimum deposits or service fees for any of their banking products.

Compare Current with Ally Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 Current
 Visit SiteLearn More
 

Current

Ally Bank

SPECIAL OFFER
Current Savings with Interest - Up to 4% APY - Learn More

Read Current Review

SPECIAL OFFER
Online Savings Account - 3.40% APY - Learn More

Read Ally Bank Review

 

Benefits and Features

SavingsUp to 4.00% APY on your Savings Pod, on up to a total of $6,000
3.40% APY
CD 2.00% to 4.25% APY. Terms of 3 months to 5 years. 12-month CD APY of 4.25%
CheckingEarn up to 15x points on purchases at participating merchants0.10% APY for daily balances less than $15,000. 0.25% APY for daily balances over $15,000
Kids Debit Card
Check
 
Money Market 
3.40% APY
Customer Service 
24/7
Minimum Deposit to Open
$0
 
Mobile App
iOS & Android
 
ATMsFree access to 40,000+ Allpoint ATMsOver 43,000 no-fee Allpoint ATMs
Locations 
Online Only
Monthly Fee
$0
 
 

CreditDonkey® Reviews

 Current
SavingsStarStarStarStarEmpty StarStarStarStarStarEmpty Star
Minimum DepositStarStarStarStarStar
CheckingStarStarStarStarStarStarStarStarStarEmpty Star
PriceStarStarStarStarStar
Customer ServiceStarStarStarEmpty StarEmpty StarStarStarStarStarStar
Mobile AppStarStarStarStarStarStarStarStarStarStar
Ease of UseStarStarStarStarStar
EducationStarStarStarEmpty StarEmpty Star
Money MarketStarStarStarStarEmpty Star
Pros & ConsPros:
  • High savings rate
  • Up to 15x cash back at 14k stores
  • Ability to deposit cash
Cons:
  • No web platform
  • Email-based support only
  • Requires direct deposit to earn the boosted APY
Pros:
  • CD options
  • No account minimums
  • Good customer service
Cons:
  • Low Checking APY for lower balance customers
Bottom LineSimple, digital-only banking app with impressive APY and cashback... Read full reviewSolid online bank with a great user-friendly website and customer service... Read full review
 Visit SiteLearn More

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

Current: Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC

Ally Bank: Pricing information from published website as of 02/03/2023.

Current

Current Savings with Interest - Up to 4% APY

  • 4.00% APY on up to $6,000 balance if you receive and maintain a qualifying direct deposit of $200 or more in a rolling 35 day period. (Otherwise, 0.25% APY.)
  • Simply add money to your Savings Pods and enable the Interest feature.
  • Earn interest on up to 3 Savings Pods, up to $2,000 balance each.
  • Interest accumulates daily.
Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC
Current

Banking for Modern Life

  • Get Paid Up to 2 Days Faster
  • Fee-Free Overdraft up to $200 with Overdrive
  • 40,000 fee-free Allpoint ATMs in the U.S.
  • No minimum balance or hidden fees
Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC
Current

Convenient Teen Account With Debit Card

  • Easy transfers, set spending limits, automate allowances
  • Age: 13 years and older
  • Fees: No monthly or annual fee
Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC

Which is Better: Current or Ally Bank?

Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Current or Chase.

In short: Current's checking is outstanding. Ally Bank's customer service is outstanding.


Articles on Current

Current Banking Review

Current offers banking features like savings, and debit card options — but is it legit? Find out the pros, cons, and how it compares to Chime.

Articles on Ally Bank

Ally Bank Review

Ally Bank offers good interest rates and no account minimums. But is this popular online bank good for you? Learn the benefits (and drawbacks) here.

Ally Bank Routing Number

Looking to transfer money in or out of your Ally account? You'll need the right routing number. Find your Ally routing number and learn more about money transfers in our guide.

Which Do You Think is Best?





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About CreditDonkey
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