Newsbreak 3 months ago in Ally, Ally CD, Ally high-yield savings account, Ally Interest Checking Account, Ally money market account, Alyssa Powell, Around The World, bank reviews, CD, Checking Account, Discover, Discover Cashback Debit Account, Discover CD, Discover Money Market Account, Discover Online Savings, Money Market Account, Online Bank, Personal Finance, Personal Finance Insider, pfi, PFI GOBankingRates, PFI Product Card, PFI Related Content Module, PFI Reviews, PFI Short Code, PFI-XAMP, Savings, Savings Account, service graphics, TOC-jump-to 0 Ally vs Discover Bank: Which bank should you choose?
Newsbreak 3 months ago in Ally, Ally CD, Ally high-yield savings account, Ally Interest Checking Account, Ally money market account, Alyssa Powell, Around The World, bank reviews, CD, Checking Account, Discover, Discover Cashback Debit Account, Discover CD, Discover Money Market Account, Discover Online Savings, Money Market Account, Online Bank, Personal Finance, Personal Finance Insider, pfi, PFI GOBankingRates, PFI Product Card, PFI Related Content Module, PFI Reviews, PFI Short Code, PFI-XAMP, Savings, Savings Account, service graphics, TOC-jump-to 0 
Listen to this articleInsider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.
Ally; Discover; Insider
Ally and Discover Bank are two popular online banks that are great options if you don’t want to deal with common bank fees.
To help you analyze the differences between each bank, we’re comparing savings, checking, CD, and money market accounts and determining which ones are the most appealing. We’re also comparing financial institutions in trustworthiness.
Ally pros and cons
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Discover pros and cons
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Ally vs. Discover checking account comparisons
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| Monthly service fees | None | None |
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Ally vs. Discover savings account comparisons
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| Monthly service fees | None | None |
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Ally vs. Discover CD comparisons
| Term lengths | 3 months to 5 years | 3 months to 10 years |
| Minimum opening deposit | ||
| APY | ||
| Early withdrawal penalties | 60 to 150 days of interest | 3 months to 2 years of interest |
| Types of CDs | High-yield CD, No Penalty CD, Raise Your Rate CD, IRA CD | High-yield CD, IRA CD |
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Ally vs. Discover money market account comparisons
| APY | ||
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| Monthly service fees | None | None |
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Ally vs. Discover bank trustworthiness and BBB rating
The Better Business Bureau rates businesses according to how they deal with customers’ issues and complaints.
Discover Bank has received an A+ rating from the Better Business Bureau. Meanwhile, Ally has a C- rating because it has a high volume of customer complaints and two unresolved complaints.
However, keep in mind that a good BBB rating doesn’t necessarily mean your relationship with the bank will be smooth. Talk to current customers or read online customer reviews to see if one of these banks might be a good option for you.
Neither financial institution has been involved in any recent public scandals.
Read the original article on Business Insider