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Ally vs. Chime Bank

Find out how a popular online bank compares to millennial-focused mobile banking

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Ally and Chime bank logos
Ally and Chime Bank are two popular institutions that specialize in digital banking. They both offer low-fee checking and savings accounts but their rates and account access vary greatly. Find out how they compare to determine which one is right for you.

Pros and cons of Ally vs. Chime Bank


  • More products. Ally has a much larger selection of accounts and banking products.
  • 24/7 customer service. Contact customer service any time, any day of the week.
  • More interest-bearing accounts. All of Ally’s accounts earns interest — even its checking account.
  • Worse mobile app. While Ally offers a sound mobile app, Chime Bank is entirely app-based so its mobile app is most effective.
  • Higher fees. You’ll pay more fees on Ally’s deposit accounts.
  • Fewer savings tools. Unlike Chime Bank, Ally doesn’t have many savings tools.

Chime Bank

  • Automatic savings tools. Chime Bank comes with a number of money management and savings tools that can help you get the most out of your money.
  • Innovative mobile app. Chime Bank is an mobile-based account and it comes with an innovative app that has built-in notifications, instant transaction alerts and more.
  • Almost no fees. You’ll pay almost no fees to open and use a Chime Bank bank account.
  • Limited products. Unlike Ally, Chime Bank only offers checking and savings accounts.
  • No 24/7 customer service. Customer service is limited to Chime Bank’s business hours.
  • Fewer interest-bearing accounts. The only account that earns you interest is Chime’s savings account.

Compare Ally vs. Chime Bank savings accounts

Use the table to compare savings accounts from Ally and Chime. If you want to see in-depth features like transaction limits and minimum balance required to earn interest, click the “Compare” checkbox next to each account for a side-by-side view.

Name Product Interest rates (APY) Fee Minimum deposit to open Interest earned
Chime Savings
Grow your savings automatically with recurring transfers, round-ups on debit card purchases and 1% APY.
Ally Bank Online Savings Account
An online-only savings account with no maintenance or hidden fees.
Ally Money Market
This money market savings account comes with a debit card and no minimum balance fees.

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Both accounts have competitive APYs and no monthly fees and minimum opening deposit requirements. They also both have automatic savings tools to help you reach your goals. Chime Savings lets you transfer 10% of each paycheck to savings and save spare change by rounding up debit card purchases the nearest whole dollar.

Ally lets you categorize funds into different savings buckets and set up automatic payments. You can also let Ally analyze your checking account spending and sweep extra cash into savings. Where they differ? You need to open a Chime Spending account to access its savings account. For this reason, Ally wins the savings account category.

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Winner: Ally

Compare Ally vs. Chime Bank checking accounts

This table shows common features and fees for both bank’s checking accounts. Sort the table by specific fees or click the “Compare” box next to each account for a unique side-by-side comparison.

Data indicated here is updated regularly
Name Product APY Minimum deposit to open Fee ATMs
Chime Spending account
$0 per month
38,000 fee-free ATMs nationwide
Get rid of fees with this mobile-first bank offering consumer-friendly accounts. Chime can also help you save easily and access your paycheck faster.
Ally Bank Interest Checking
0.25% on balances of $15,000+
0.10% on balances of $0 to $14,999
$0 per month
Free at any Allpoint ATM in the US
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‘s checking account earns interest and gives you access to a large ATM network. But you’ll pay for overdrafts and foreign transactions. Chime ditches most fees charged by bigger banks — you won’t pay anything for overdrafts, foreign transactions or ATMs. Plus, you get access to direct deposits up to two days faster. If you value quicker deposits and almost no fees, you should choose Chime Bank.

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Winner: Chime Bank

Compare Ally vs. Chime Bank CDs

Chime Bank doesn’t offer CDs, giving Ally the upper hand in this category.

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Winner: Ally

Name Product 1-year APY 18-month APY 2-year APY 3-year APY 5-year APY
Ally High Yield CDs
Ally Raise Your Rate CDs

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Ally vs. Chime Bank other products

Ally is a much larger institution that caters to a much wider range of banking needs, so it’s the obvious choice for anyone looking for other financial products.


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

Chime Bank

  • None

Ally vs. Chime Bank branches and ATMs

Online and mobile banking means you won’t have access to branches, making good customer service essential. Here’s how the two compare:

AllyChime Bank
Customer service
  • Phone 24/7
  • Social media
  • Live chat
  • Email
  • Phone Monday–Saturday 7 a.m.–7 p.m. and Sunday 9 a.m.–5 p.m. CST
  • Email
  • Mobile support

Ally vs. Chime Bank special features

Both of these options offer unique features that separate them from their competition:


  • 24/7 customer service
  • Raise Your Rate and No Penalty CDs

Chime Bank

  • Mobile-only banking
  • Money management and savings tools

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Winner: Tie

Bottom line

These two digital banks offer competitive financial products that could be right for your situation. Pick Ally if you want a wider product selection and consistently high rates, or go with Chime Bank if you prefer mobile banking with money management and want to avoid overdraft fees. In either case, it’s worth comparing your options to see what other accounts are out there.

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