Pros and cons of Ally vs. Chime
- 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 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, Ally doesn’t have many savings tools.
- Automatic savings tools. Chime 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 is an mobile-based account with built-in notifications, instant transaction alerts and more.
- Almost no fees. You’ll pay almost no fees to open and use a Chime
- Limited products. Unlike Ally, Chime only offers checking and savings accounts.
- Under investigation. Due to several account closures in 2021 and customers’ inability to obtain their money, Chime is currently under investigation.
- Fewer interest-bearing accounts. The only account that earns you interest is Chime’s savings account.
Compare Ally vs. Chime 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.
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 Checking account to access its savings account. For this reason, Ally wins the savings account category.
Compare Ally vs. Chime 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.
Compare Ally vs. Chime CDs
Ally vs. Chime 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 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 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
- Savings buckets and boosters
- 24/7 customer service
- Mobile-only financial app
- 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 consistently high rates, or go with Chime if you prefer a mobile financial app to manage your money and if you want to avoid overdraft fees. In either case, it’s worth comparing your options to see what other accounts are out there.
Frequently asked questions
More guides on Finder
Cost of a Christmas tree
With the average cost of a real Christmas tree to hit $86.94 in 2023, Americans are projected to spend a collective $5.6B on Christmas trees.
Should I prioritize saving or paying off debt?
There are times when paying off debt makes sense, but you’ll need a decent savings all the time.
Will the soft saving trend hurt your financial future?
11 debit cards that build credit
Debit cards and similar cards that can help build credit with little to no risk include: Extra, Fizz, Current, Chime, Step, Varo and more.
AI Anxiety Index: Are you worried about AI replacing jobs?
Finder’s AI Anxiety Index takes a pulse of US households on how concerned they are about AI replacing jobs.
Best business bank accounts for LLCs
Find the best business bank accounts for LLCs with low fees, software integrations and extra perks like ATM reimbursements.
Best online banks
Ally Bank wins the best overall online bank of 2023. Other best online banks on our list are UFB Direct, Raisin, Quontic, Chime and others.
Compare 3-way joint bank accounts
You can open a joint bank account with three or more people. Learn how it works, how to sign up and what risks to be aware of.
What’s a minimum balance and deposit requirement?
Find out how minimum balance or deposit requirements affect your savings, checking and CD accounts in this comprehensive guide.
14 best banks and credit unions in the US
The best banks let you choose from several offerings that help you grow and manage your hard-earned cash.
Ask an Expert