Varo Bank vs Ally Bank
Varo Bank | Ally Bank | |
|---|---|---|
Online Savings Account - | Online Savings Account - 4.25% APY - | |
Benefits and Features | ||
| Savings | 3.00% 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. | |
| CD | 3.00% to 5.15% APY. Terms of 3 months to 5 years. 12-month CD APY of 5.10% | |
| Checking | No monthly service fee; no minimum balance; no overdraft fees | 0.10% APY for daily balances less than $15,000. 0.25% APY for daily balances over $15,000 |
| Money Market | ||
| Customer Service | Mon-Fri 8am - 9pm (ET) and Sat-Sun 11am to 7pm (ET) | |
| Minimum Deposit to Open | ||
| Mobile App | ||
| ATMs | Over 55,000 fee-free AllPoint ATMs | Over 43,000 no-fee Allpoint ATMs |
| Locations | ||
| Monthly Fee | ||
CreditDonkey® Reviews | ||
| Savings |   | |
| Checking | | |
| Money Market | | |
| Customer Service | | |
| Mobile App | | |
| Pros & Cons | Pros:
| |
| Bottom Line | 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. Varo Bank: Pricing information from published website as of 11/08/2023. Ally Bank: Pricing information from published website as of 11/25/2023. | ||
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.
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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.
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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.
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