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Ally is an online-only bank, while Capital One 360 is the online operation of Capital One Bank.
Ally; Capital One 360; Insider
We’ve compared Ally and Capital One accounts below to see which institution stands out the most. We’re also evaluating each bank’s trustworthiness so you can know more about each institution’s history.
Joint bank savings and checking accounts for kids and teens
No money market account
Branches only in NY, LA, TX, MD, VA, NJ, and Washington, DC
Settlement involving security practices
Might have to deal with out-of-network ATM fees
Ally vs. Capital One 360 checking account comparisons
Ally and Capital One both offer a fee-free interest-earning checking account. Capital One also has a joint checking account for minors featured in our best teen checking accounts guide.
Ally Interest Checking Account
Capital One 360 Checking®
APY
Ally Interest Checking Account
Capital One 360 Checking®
Minimum opening deposit
Ally Interest Checking Account
Capital One 360 Checking®
Monthly service fee
None
None
Perks
Earn interest on account
No overdraft fees
Free overdraft protection is available
Early direct deposit
Reimburses up to $10 in out-of-network ATM fees
Access to 43,000 free ATMs
Earn interest on account
No overdraft fees
Free overdraft protection is available
Early direct deposit
Access to over 70,000 free ATMs
Caveats
No physical locations
$2 out-of-network ATM fee
Doesn’t reimburse out-of-network ATM fees
Branches only in NY, LA, TX, MD, VA, NJ, and Washington, DC
Next steps
Ally Interest Checking Account
Ally Interest Checking Account
Ally vs. Capital One 360 savings account comparisons
Capital One 360 doesn’t offer a money market account, but Ally does. The Ally Money Market Account is a great choice if you’d like to open a money market account with an online bank.
It’s featured in our best money market accounts guide, which includes fee-free accounts with competitive interest rates. The Ally Money Market Account stands out because it doesn’t require a minimum opening deposit. Usually, banks ask for at least $1,000 to open an account.
Ally vs. Capital One trustworthiness and BBB rating
The Better Business Bureau evaluates businesses to see if they effectively respond to customer issues and have honest advertising practices.
Capital One currently has an A- rating due to a high volume of customer complaints on the BBB website. Meanwhile, Ally received a C- rating because it has a high volume of customer complaints and two unresolved customer issues.
A high BBB rating doesn’t necessarily guarantee your relationship with a bank will be perfect. Reach out to current customers or read online customer reviews to see if a bank might be a good fit for you.
Ally hasn’t been involved in any public controversies, but Capital One has experienced one recent settlement.
In 2020, The Office of the Comptroller of Currency required Capital One to pay $80 million in a settlement that said the bank had inefficient security practices, which comprised personal information of bank credit cardholders.