Save money and be informed. CreditDonkey is a bank comparison and reviews website. This website is made possible through financial relationships with card issuers and some of the products and services mentioned on this site. Advertiser Disclosure†

Varo Bank vs Ally Bank


 

Varo Bank

Ally Bank

SPECIAL OFFER
Online Savings Account - Learn More

SPECIAL OFFER
Online Savings Account - 4.20% APY - Learn More

Read Ally Bank Review

 

Benefits and Features

Savings3.00% APY on all balances. Opportunity to earn 5.00% APY if your daily savings balance does not exceed $5,000 AND you make at least 5 Varo debit card purchases per month AND receive at least $1,000 in direct deposits in either the Varo Bank Account or Savings Account.
4.20% APY
CD 3.00% to 4.50% APY. Terms of 3 months to 5 years. 12-month CD APY of 4.50%
CheckingNo monthly service fee; no minimum balance; no overdraft fees0.10% APY for daily balances less than $15,000. 0.25% APY for daily balances over $15,000
Monthly Fee
$0
 
Money Market 
4.20% APY
Minimum Deposit to Open
$0
 
Mobile App
iOS & Android
iOS & Android
ATMsOver 55,000 fee-free AllPoint ATMsOver 43,000 no-fee Allpoint ATMs
Customer ServiceMon-Fri 8am - 9pm (ET) and Sat-Sun 11am to 7pm (ET)
24/7
Locations
Online only
Online only
 

CreditDonkey® Reviews

SavingsStarStarStarStarEmpty Star
CheckingStarStarStarStarEmpty Star
Money MarketStarStarStarStarEmpty Star
Mobile AppStarStarStarStarStar
Customer ServiceStarStarStarStarStar
Pros & ConsPros:
  • CD options
  • No account minimums
  • Good customer service
Cons:
  • Low Checking APY for lower balance customers
Bottom LineSolid online bank with a great user-friendly website and customer service... Read full review

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

Varo Bank: Pricing information from published website as of 11/08/2023.

Ally Bank: Pricing information from published website as of 05/14/2024.


Articles on Ally Bank

Ally Bank

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 High Yield Savings Review

Ally Savings offers a strong APY and various savings tools to help you boost your funds. Read on to find out more.

Ally Bank Problems

Ally Bank is well-known for having attractive APYs and practically no fees. But, what's the catch? Read on to know what nuisances you may encounter.

Ally Money Market vs Savings

Ally's Money Market and Savings accounts boast high APYs with no hidden fees. But, how do they differ? Read on to find out.

Ally Bank CD Rates

Ally Bank CD accounts offer high APYs and require no minimum deposit. But what is the catch? Learn more about Ally CD rates in this review.

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?





You Might Also Like

Best Savings Accounts for College Students

Best Savings Accounts for College Students

Want to think ahead? Start preparing for your future using these student-friendly savings accounts with high APYs and no fees.
Chime Alternatives

Chime Alternatives

Discover the best Chime competitors that can offer you better rewards and a wider range of account options.
Best Free Checking Accounts

Best Free Checking Accounts

Want to dodge hefty banking fees? Learn about the best free checking accounts in this detailed guide. No hidden charges or high balances needed.
Best High Yield Savings Accounts

Best High Yield Savings Accounts

Make your money work harder for you in a high-yield savings account. Here are the top savings accounts to grow your money.
Best Online Savings Account

Best Online Savings Account

Maximize your savings with the best online banks offering high-interest rates, security, and flexibility. Uncover your options.

Compare Varo Bank to:


You might also be interested in

Banks That Don't Use ChexSystems

Banks That Don't Use ChexSystems

Denied a bank account due to your poor banking history? Fret not, some banks don't check your ChexSystems report.

Next Page:

About CreditDonkey
CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

About Us | Reviews | Deals | Tips | Privacy | Do Not Sell My Info | Terms | Contact Us
(888) 483-4925 | 680 East Colorado Blvd, 2nd Floor | Pasadena, CA 91101
© 2024 CreditDonkey Inc. All Rights Reserved.