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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.
- Much higher rates. You’ll earn far more interest with Ally’s accounts.
- 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.
- 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.
- Low rates. You’ll earn far less interest in Chime Bank’s accounts than you would with Ally’s.
Ally vs. Chime Bank savings accounts
Ally vs. Chime Bank checking accounts
Winner: Chime Bank
Ally vs. Chime Bank CDs
Ally vs. Chime Bank other productsAlly 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
- IRA CDs
- Home loans and refinancing
- Brokerage accounts
- Portfolio management
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:
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
- Mobile-only banking
- Money management and savings tools
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 higher interest rates, or go with Chime Bank if you prefer mobile banking with money management and savings tools. In either case, it’s worth comparing your options to see what other accounts are out there.
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