This bank often makes the best banks list and for good reason. It has everything you need: a high-yield savings account, interest-bearing checking account, and a mobile app that stands out from the competition combined with stellar customer service.
You can get a higher yield at other banks. However, you will earn competitive APYs any day of the week at Ally. With its savings account, you will currently earn 1.60 percent APY. You won’t pay monthly maintenance fees or minimum balance requirements either — it doesn’t charge those fees.
The direct bank’s checking account interest rate structure is tiered, so yields will change depending on your minimum daily balance. At the low end, you will earn 0.10 percent APY. While not much, it’s still something. Plus, there are no fees tied to the checking account. More recently, the bank has been testing digital features that help ease you into regularly saving small amounts of money from your checking account — a useful tool with many of us struggling to save.
Among the bank’s mobile app standouts include: debit card controls and a voice assistant to navigate the app.
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