Ally vs. Marcus

Compare accounts, rates and fees from two of the most competitive online banks.

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Marcus Vs. Ally

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Ally and Marcus are home to some of the strongest deposit accounts available today. And while they offer similar rates and fees, the differences between the two could help you determine which is best for you.

Pros and cons of Ally vs. Marcus

Ally

Pros
  • Easy access. Ally offers a cutting edge mobile app and widespread ATM access.
  • Wide range of financial products. Ally offers a broad selection of financial products, allowing you to do all or most of your banking in one place.
  • 24/7 customer service. Customer service is available around the clock.
Cons
  • Slightly lower savings rates. You’ll earn slightly less interest on Ally savings accounts than with Marcus.
  • Higher fees. Ally has higher service charges and monthly fees on its deposit accounts.
  • Fewer loan options. If loans are your priority, Marcus may be better suited for your needs.

Marcus

Pros
  • Personal loans. Marcus offers a wide range of loan options and specializes in debt consolidation.
  • Slightly higher savings rates. You’ll earn a bit more interest with Marcus savings accounts.
  • Lower fees. Marcus has lower service charges and monthly fees than Ally.
Cons
  • More difficult to access money. Marcus doesn’t have ATMs or branches, so getting access to your money could be more difficult.
  • Limited financial products. Despite its selection of deposit accounts and loan offerings, Marcus doesn’t have many other financial products.
  • No 24/7 customer service. Unlike Ally, you won’t have 24/7 access to customer service.

Ally vs. Marcus savings accounts

These institutions offer two extremely competitive high-yield savings accounts, but Marcus wins this category for its higher APY.

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Winner: Marcus

Name Product Interest rate (APY) Fee Minimum deposit to open
1.90%
$0
$0
A high-interest savings account with no account fees.
1.70%
$0
$0
An online-only savings account with no maintenance or hidden fees.
1.00%
$0
$0
This money market savings account comes with a debit card and no minimum balance fees.

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Ally vs. Marcus checking accounts

Marcus doesn’t currently offer a checking account, giving Ally the clear edge in this category.

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Winner: Ally

Name Product APY ATMs Fee
0.60% on balances of $15,000+
0.10% on balances of $0 to $14,999
Free at any Allpoint ATM in the US
$0
A checking account with no monthly maintenance fees, but a high minimum daily balance if you're looking to get a decent APY.

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Ally vs. Marcus certificates of deposit

Ally and Marcus both offer a number of CD terms and competitive rates. While Marcus has slightly higher rates for shorter terms, Ally wins for its larger selection, higher rates for longer terms and lower deposit requirements.

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Winner: Ally

Name Product 1-year APY 18-month APY 2-year APY 3-year APY 5-year APY
2.05%
2%
2.05% on CDs of $25,000+

2% on CDs of $5,000 to $24,999

1.9% on CDs of $0 to $4,999
2.1% on CDs of $25,000+

2.05% on CDs of $5,000 to $24,999

1.95% on CDs of $0 to $4,999
2.25%

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Ally vs. Marcus other products

While both of these institutions offer other financial products, Ally has a much larger selection:

    Ally

  • Credit cards
  • Money market account
  • IRAs
  • IRA CDs
  • Home loans and refinancing
  • Brokerage accounts
  • Portfolio management

    Marcus

  • Personal loans
  • Debt consolidation
  • Home improvement loans

Ally vs. Marcus branches and ATMs

Choosing to bank online makes good customer service even more important. Here’s how the two banks measure up:

Ally Marcus
Branches 0 2
ATMs 43,000 80,000+
Customer service
  • Phone 24/7
  • Social media
  • Live chat
  • Email
  • Phone 24/7
  • Social media
  • Email

Ally vs. Marcus special features

Both banks have a couple of features that make them stand out from their competition:

Ally
  • 24/7 customer service
  • Mobile app with card management
Marcus
  • Loan specialization
  • Learning center + debt resources

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Winner: Tie

Bottom line

These top-rated online banks both offer a selection of personal banking options and other financial products, but the best one will depend on your situation. Pick Ally for more banking products and a mobile app, or go with Marcus for slightly higher savings rates and specialized loans. Or if neither is right for you, compare options from other banks to find a good fit.

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