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 offers mobile-only banking for adults and teens. It offers cashback rewards, interest on savings, faster direct deposit, and fee-free overdrafts. There are no monthly fees and no minimums.
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 | Ally Bank | |
---|---|---|
Current Savings with Interest - Up to 4% APY - | Online Savings Account - 3.85% APY - | |
Benefits and Features | ||
Savings | Up to 4.00% APY on your Savings Pod, on up to a total of $6,000 | |
CD | 2.50% to 4.80% APY. Terms of 3 months to 5 years. 12-month CD APY of 4.50% | |
Checking | Earn up to 15x points on purchases at participating merchants | 0.10% APY for daily balances less than $15,000. 0.25% APY for daily balances over $15,000 |
Kids Debit Card | ![]() | |
Money Market | ||
Customer Service | ||
Minimum Deposit to Open | ||
Mobile App | ||
ATMs | Free access to 40,000+ Allpoint ATMs | Over 43,000 no-fee Allpoint ATMs |
Locations | ||
Monthly Fee | ||
CreditDonkey® Reviews | ||
![]() | ||
Savings | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Minimum Deposit | ![]() ![]() ![]() ![]() ![]() | |
Checking | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Price | ![]() ![]() ![]() ![]() ![]() | |
Customer Service | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Mobile App | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Ease of Use | ![]() ![]() ![]() ![]() ![]() | |
Education | ![]() ![]() ![]() ![]() ![]() | |
Money Market | ![]() ![]() ![]() ![]() ![]() | |
Pros & Cons | Pros:
| Pros:
|
Bottom Line | Simple, digital-only banking app with impressive APY and cashback... | Solid online bank with a great user-friendly website and customer service... |
![]() | ![]() | |
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 5/24/2023. |
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.
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
Convenient Teen Account With Debit Card
- Easy transfers, set spending limits, automate allowances
- Age: 13 years and older
- Fees: No monthly or annual fee
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.